Tur prices zoom on lower corp and good demand
On the lower output and steady demad, tur prices have increased above the minimum support price (MSP) levels during the current crop year (July 2020-June 2021). This rally has provided a relief to the growers from Karnataka and Maharashtra who faced crop and yield losses due to extended monsoon and flooding in the region. Across major terminal agricultural markets such as Kalaburgi, Akola, Latur, Amrawati, Bidar, Yadir and Raichur for tur, modal prices are ruling at least ten percent higher than the MSP Rs 6,000 per quintal over the last few days. The wholesale tur prices in Kalaburgi are higher by over 30 percent over same period last year. In consuming markets such as Bengaluru agricultural marketing committee (APMC) mandi, the modal prices for arhar (tur dal) were at Rs 10,800 in near past. According to the Government’s first advance estimates, tur production is estimated at 40.4 lakh tonnes against the fourth advanced estimates of 38.3 lakh tonnes last crop year. According to the Jitu Bheda, Chairman, Indian Pulses and Grains Association, tur prices have gone up as the yields are projected lower. “Now there is a talk of crop size of 34 lakh tonnes as against the earlier around 40 34 lakh tonnes. The way the market is reacting, prices are likely to remain bullish. We came to know that the Government is assessing the situation and sooner or later they have to take a call on imports to stabilise the prices.