Weekly Review-Peas
15-Jun-2024 07:45 PM
Peas prices remain low due to lack of buyers
Kanpur. Pea prices remained low during the current week due to increased selling pressure and almost no buying. Due to the fall in gram prices, buying of peas by dal millers remained sluggish, due to which pressure was seen on pea prices. Pea sowing in Canada has almost ended and now its new crop is awaited. Its arrival is expected to start from mid-August, so buyers are showing less interest in buying peas from spot stock. According to trade analysts, the price of yellow peas in Canada is around $ 13 per bushel and the price of green peas is $ 17 per bushel, while the price of Maple peas is being reported to be $ 22-23 per bushel. The Indian government has allowed duty-free import of yellow peas till October, while the arrival of its new consignment will start in Russia and Canada from August itself. For the next new crop, the price of yellow peas is being reported to be $12.25 per bushel, green peas $14.50 per bushel and maple peas $20-21 per bushel. According to the reviewers, the area of sowing of peas in Canada has increased a bit during the current year as compared to last year and in Saskatchewan province alone, its area has increased by 12-15 percent, while the condition of the crop is looking better due to good rains in many areas. Due to this, the producers should keep selling their old stock of peas regularly. Due to increased selling by importers and slow buying, the prices of imported peas declined by Rs 50/100 per quintal this week and the prices remained at Mumbai Canada Rs 4150/4200, Russia Rs 4000 and currency Canada Rs 4100/4125 and Russia Rs 3950 per quintal at the weekend. Due to lack of customers, Kanpur peas witnessed a decline of Rs. 150 per quintal this week and with this decline, the price remained at Rs. 4325/4350 per quintal at the weekend. Similarly, Lalitpur peas also witnessed a decline of Rs. 200 per quintal during the current week and the price remained at Rs. 3800/3950 per quintal at the weekend. Mahoba peas witnessed a decline of Rs. 100 per quintal due to weak buying and with this decline, the price remained at Rs. 4000/4200 per quintal at the weekend. Similarly, Rath peas also declined by Rs. 50 this week and Mauranipur by Rs. 50 per quintal and remained at Rs. 4100/4150 at the weekend and at Rs. 3900/4050 per quintal at the weekend.
Peas dal
Due to the fall in the price of peas and sluggish buying, the prices of peas fell by 50/100 rupees per quintal this week and the prices remained at 4950/5000 rupees in Kanpur and 5100/5200 rupees per quintal in Indore at the end of the week.