Stock of Tuvar started decreasing in foreign countries.

21-Nov-2024 01:01 PM

Stock of Tuvar started decreasing in foreign countries.
Tuvar (Pigeon Pea)
Decreasing Stock Abroad: There has been a significant export of Tuvar from Tanzania, Mozambique, and Myanmar in recent months, leading to a depletion of stock in these countries.
Domestic Market Trends: In India, the demand in Tamil Nadu, Andhra Pradesh, and Gujarat has risen due to the passing of tenders by local Civil Supplies departments. This is likely to support domestic prices.
New Crop and Harvesting: Harvesting of the new Tuvar crop in Karnataka has begun, and it is expected to reach its peak by the end of December. Dal millers in Karnataka and Maharashtra are preparing to purchase large quantities, and government procurement interest is also contributing to the demand.
Market Outlook: The demand for Tuvar is expected to stay strong due to the ongoing export shortages abroad and increased demand within India. This could lead to higher prices in both domestic and international markets as the supply remains tight.
Urad (Black Gram)
Export and Stock Depletion: Myanmar has exported a large quantity of Urad, which has caused a continuous decline in stock levels within the country. Additionally, the domestic crop production has been weak, leading to a further decrease in available supplies.
Imports and Price Increase: To meet local demand, Myanmar is increasingly dependent on imports, which could drive up prices. With the depletion of stock in Myanmar, international prices are expected to rise due to the supply constraints.
Future Trends: The reduced availability of Urad in Myanmar and weak domestic production suggest that price pressure will continue, and prices could further escalate as the country looks to secure supplies from global markets.
Summary of Key Points:
Tuvar: Expect higher prices both domestically and internationally due to reduced stock abroad, increased demand in India, and a strong interest in the new crop.
Urad: International prices may rise due to stock depletion in Myanmar and weak domestic production, with increased reliance on imports to meet demand.
In both cases, market dynamics suggest price pressures will likely persist, especially for Tuvar, where low foreign stocks and high domestic demand intersect, and for Urad, where stock depletion in Myanmar pushes international prices higher.