Toor (Pigeon Pea) Price Decline

10-Jan-2025 09:07 AM

Toor (Pigeon Pea) Price Decline
Myanmar Toor:
Lemon variety was at a high of $860/ton earlier this month but dropped to $810/ton by January 7.
On January 9, Myanmar Toor closed at $825/ton.
Domestic Market Prices:
Mumbai and Chennai lemon varieties were priced at ₹6950-7000.
Prices saw fluctuations of ₹50-100 this month, while African Toor prices remain stable.
Prices in mandis are below MSP.
Government Procurement:
Karnataka has begun government procurement of Toor.
Farmers, having sold at higher prices earlier, may hold back stocks now due to lower prices.
Farmer Impact:
Higher prices earlier increased farmers' stockholding capacity.
Production and Availability:
India is expected to have a good Toor harvest this year, with peak arrivals expected by the end of January.
Myanmar will also have a record Toor crop, and imports may begin by February end or March.
Domestic supply, combined with Myanmar imports, will improve availability and may lead to price reductions.
Market Advice:
It may be a good time to buy Toor during this period.