Commodities

Tur seen bearish on arrivals, stocks

Our Correspondent Indore | Updated on April 11, 2012 Published on April 11, 2012

TUR

Even as mandis in Madhya Pradesh remaining closed today for the third consecutive day tur (Maharashtra) was quoted Rs 100 higher at Rs 3,850 a quintal in private trading on Wednesday, while tur (Nimari) ruled at Rs 3,000-3,500 a quintal.

Prices have gone up almost Rs 200 a quintal as compared with last week. They may fall once arrival picks up in local mandis after they open. Traders have ruled out a long rally in tur because of the arrival of gulabi tur in the coming days and a large stock of imported tur.

Among other pulse seeds, there was scattered demand in kanta chana in private trading and it quoted Rs 25 down at Rs 3,600 a quintal, while desi chana ruled at Rs 3,450. Chana is likely to be bearish because of the imposition of position limits in the futures market from April 10, aimed at reining in artificial speculation.

Amid negligible arrival, masoor continued to rule higher in private trading, with bold masoor going as high as Rs 3,275-3,300 a quintal. In absence of any trading, urad and moong prices remained unchanged.

Published on April 11, 2012
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