Pune: Prices of major pulses rose sharply in the past month, reversing more than a year of decline and likely lifting farmer sentiments ahead of the next seeding season.
Tur led the surge, rising about 20% on concerns of lower crop output in India and other producing countries, besides currency pressures and tight supplies. Chana and urad prices increased about 9% and 11% each in January.
Notably, tur and urad have climbed back to minimum support price (MSP) levels after more than a year, while chana remains under MSP and last year's prices. Tur and urad are likely to stay firm, though new chana arrivals from late February may put further pressure on chana prices, said Bimal Kothari, president, Indian Pulses and Grains Association (IPGA).
"The prolonged rainfall has delayed the harvest of kharif and rabi pulses, which has in turn affected the availability of tur and chana in the short term," said Kothari. "The production of kharif urad is also lower than expected."
Prices of pulses began their downward trend in January 2024.
An analysis of industry data showed ex-mill prices of top-quality tur dal at Akola in Maharashtra rose 23% to ₹129/kg in January from ₹105/kg in the month before, while the year-on-year increase is 11%.
According to IPGA, tur prices are trending higher due to strong global price cues, a weaker rupee, limited selling by farmers, steady buying by mills, and lower domestic crop estimates in key producing regions. MSP-backed procurement during the peak arrival period also continued to support market sentiment and prices.
The ex-mill price of urad dal at Jalgaon has risen by 20% to ₹82/kg in a month. However, when compared to last year, the increase is 6%. The ex-mill price of chana dal at Jaipur is up by 9.7% in a month to Rs 68/kg. However, chana prices are still lower than last year by about 2%.
India depends on tur imports from Myanmar and Africa, urad from Myanmar and Brazil, chana from Australia and lentils, and yellow peas from Canada and the black sea region.
Tur led the surge, rising about 20% on concerns of lower crop output in India and other producing countries, besides currency pressures and tight supplies. Chana and urad prices increased about 9% and 11% each in January.
Notably, tur and urad have climbed back to minimum support price (MSP) levels after more than a year, while chana remains under MSP and last year's prices. Tur and urad are likely to stay firm, though new chana arrivals from late February may put further pressure on chana prices, said Bimal Kothari, president, Indian Pulses and Grains Association (IPGA).
"The prolonged rainfall has delayed the harvest of kharif and rabi pulses, which has in turn affected the availability of tur and chana in the short term," said Kothari. "The production of kharif urad is also lower than expected."
Prices of pulses began their downward trend in January 2024.
An analysis of industry data showed ex-mill prices of top-quality tur dal at Akola in Maharashtra rose 23% to ₹129/kg in January from ₹105/kg in the month before, while the year-on-year increase is 11%.
According to IPGA, tur prices are trending higher due to strong global price cues, a weaker rupee, limited selling by farmers, steady buying by mills, and lower domestic crop estimates in key producing regions. MSP-backed procurement during the peak arrival period also continued to support market sentiment and prices.
The ex-mill price of urad dal at Jalgaon has risen by 20% to ₹82/kg in a month. However, when compared to last year, the increase is 6%. The ex-mill price of chana dal at Jaipur is up by 9.7% in a month to Rs 68/kg. However, chana prices are still lower than last year by about 2%.
India depends on tur imports from Myanmar and Africa, urad from Myanmar and Brazil, chana from Australia and lentils, and yellow peas from Canada and the black sea region.