Pulses Market Prices News

Price of Pulses Down Due to Heavy Rain.

Pune: Sowing reports from across India's pulses growing regions have indicated
Over the last 15 days, a bumper area under the crop tipping domestic and international prices that have corrected setting a downward trend in prices, says Sowing reports from across India's pulses growing regions.

A fall in chick peas and lentils from their peak of $1,200/tonne to $700/tonne by September 2017 is predicted in a July 26th forecast by National Australia Bank. Report says that in the coming months the prices of pulses destined for India may remain under pressure.

The report stated that, after following two poor Indian monsoon seasons, this year prices for both (lentils and chick pea) exceeded AUD1,200/tonne. This season we are already seeing the return of more favourable conditions to India, it is likely that Indian pulse production will be up in the last season and it forecast Australian chickpea production to go up 33%.

"Prices of pulses have come down by 15% across the board due to the good monsoon," said Bimal Kothari, vice-president, Indian Pulses and Grains Association (IPGA)

The prices of whole beans of pulses, which the millers split to make dals, have come down during the past days.

The price of yellow peas came down fromRs35/kg to Rs31/kg, price of whole tur has declined from Rs92/kg to Rs75/kg, Chana corrected from Rs92/kg to Rs80/kg, moong price is at Rs55/kg, down from Rs70/kg and urad price declined from Rs110/kg to Rs88/kg.

A further reduction in prices is expected to happen by September. Kothari informed that India is going to import 25 lakh tonne pulses between September and December.

Sourcehttp://economictimes.indiatimes.com/