Weekly Review-Peas
16-Sep-2024 06:09 PM
Pea prices fall due to weak demand
Kanpur. Pea prices declined during the last week due to profit booking at higher prices, increased sales and weak buying. Over the weekend, the government issued a circular and extended the deadline for pea import from 31 October 2024 to 31 December 2024. After opening of pea import in December last year, large quantities of peas were imported into the country. So far, more than 21 lakh tonnes of peas have been imported into the country. About half of which is still lying in stock. The industry and farmers were hoping that the pea import deadline would not be extended, but now perhaps the farmer can think about sowing peas. Sowing of other crops can be given priority instead of peas. Pea production in Canada is expected to increase from 26.08 lakh tonnes to 30 to 32 lakh tonnes, in which the quantity of yellow peas can be 22.6-25.6 lakh tonnes. Yellow pea production in America is expected to jump from 5.79 lakh tons last year to 6.66 lakh tons, taking the total pea production to 8.94 lakh tons, which was 8.18 lakh tons last year. Due to increased selling pressure from importers and weak buying, the prices of imported peas fell by Rs. 100/150 per quintal this week and with this fall, the prices remained at Mumbai Canada Rs. 3850/3900, Russia Rs. 3750/3800 and currency Canada Rs. 3700/3750 and Russia Rs. 3600/3650 per quintal at the end of the week. Due to the fall in imported peas, the buying of desi peas also remained sluggish. Due to weak buying by dal millers, the prices of Kanpur peas fell by Rs. 50 per quintal this week and with this fall, the prices remained at Rs. 4175 per quintal at the end of the week. Similarly, the prices of Lalitpur peas also declined by Rs 50/75 per quintal during this week and remained at Rs 3700/3800 per quintal at the weekend. Due to slow buying, Mahoba peas did not see any rise or fall last week and the price remained stable at Rs 3700/3850 per quintal at the weekend. Similarly, no rise or fall was seen in Mauranipur peas and the price remained stable at Rs 3700/3800 per quintal at the weekend. Due to the impact of all-round decline and sluggish demand, Damoh peas declined by Rs 25 per quintal and remained at Rs 3800/3900 per quintal at the weekend.
Peas
Due to the impact of decline in peas and weak demand, there was no rise or fall in the prices of peas dal during the last week and the price remained stable at Rs 4550/4600 in Kanpur and Rs 4700/4800 per quintal in Indore at the weekend.