Commodities

Outlook turns bullish for tur

Our Correspondent Indore | Updated on July 23, 2014




Heavy rains in Madhya Pradesh for the past two days and weak buying support have arrested the bullish sentiment in pulse seeds, particularly in tur, moong and urad. Tur (Maharashtra), which ruled at ₹4,625 a quintal on Tuesday, declined to ₹4,550-₹4,600 on Wednesday. Similarly, tur (Madhya Pradesh) declined to ₹3,900-₹4,100 a quintal (₹4,000-₹4,200) on slack buying. However, compared with last week tur (Maharashtra) is still ruling higher by ₹50.

According to traders here, given the decline in domestic stocks, higher imports and an expected rise in demand during the ensuing festival season, prospects appear bullish for tur.

Decline in tur also dragged its dal by ₹100 with tur dal (full) in local mandis on Wednesday being quoted at ₹6,300-₹6,400, tur dal (sawa no.) at ₹5,800-₹5,900, while tur marka declined to ₹6,800-₹6,900 a quintal. Compared to last week, tur dal is down by ₹300.

Moong prices have dropped by ₹400 with moong (bold) in Indore mandis on Wednesday being quoted at ₹6.200-₹6,300 a quintal, while moong (medium) declined to ₹5,200-₹5,500. However, heavy downpours in the past two days have reigned in the uptrend in moong and other pulse seeds, Sanjay Agrawal, a local pulse trader, told BusinessLine.

Moong dal ruled higher with moong dal (medium) on Wednesday in local mandis being quoted at ₹7,300-₹7,500, moong dal (bold) at ₹8,000-₹8,200, while moong mongar ruled at ₹8,500-₹8,700 a quintal.

Urad (bold) in local mandis declined to ₹6,000-₹6,100 a quintal, while urad (medium) declined to ₹5,200-₹5,600. However, compared to last week, urad prices are up ₹700-₹800.

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Published on July 23, 2014
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