Tur (Pigeon Pea) Market: Weekly Report And Market Outlook Revealed

The period between 22 May 2023 – 28 May 2023 saw a positive trend in the tur (pigeon pea) market, with a steady demand for akola tur dal leading to a price increase. Limited availability of imported tur and reduced arrivals in the market contributed to the scarcity sentiment. However, the market future depends on factors like monsoon and government policies. Let’s explore tur dal’s weekly performance in depth.

Performance Overview 

• Price & Demand: The week began with an opening price of ₹9,500 per quintal for akola tur, and it closed at ₹9,800 per quintal on 27 May 2023. With an increase of ₹300 per quintal, the demand remained steady, and experts predict a requirement of approximately 12-15 lakh tons of tur over the next six months.

• Supply & Availability: The availability of imported tur from Burma and Africa was limited, and weak selling due to modest stock further supported the strength in domestic and African tur. It is anticipated that it will take at least six months for the arrival of the new domestic tur. The pressure on African tur is expected to ease by mid-August, which could lead to a price increase over the next three months.

• Government Policies & Minimum Support Price: The government is expected to announce the Minimum Support Price (MSP) for kharif crops In June 2023. Taking into account the supply-demand market dynamics. The future of tur heavily relies on monsoon and government policies, and market participants will have to wait approximately 6-7 months for the arrival of domestic tur. Given these circumstances, the path ahead is expected to be challenging.

Market Outlook

Experts are optimistic about tur production in the upcoming season, expecting an increase of 8%-10%. The crop is known for not requiring excessive water, so even if rainfall remains normal or slightly below average, there is a higher probability of increased production in the next month.

OFB’s Insight

The market witnessed a positive trend in the previous week, with increased demand and limited availability supporting the price increase. However, the market future depends on factors like monsoon and government policies. Despite the challenges, experts are optimistic about tur production and expect an increase in the upcoming season. Market participants will have to closely monitor the market dynamics and make informed decisions based on the changing conditions. 

Read more: Record Breaking Crop Production: Positive Outlook For Indian Agriculture 2022-23

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