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Firm Tur Market Tightens Global Pulse Balance and Supports Pea Prices

Firm Tur Market Tightens Global Pulse Balance and Supports Pea Prices

CMB
CMB News Editorial
Editorial Desk

India’s firm tur market, higher African and Myanmar offers and weather risks in key regions tighten the pulse balance and underpin dried pea prices.

India’s firm tur market is tightening the broader pulse complex and is set to lend support to international pea values over the coming months, even as global pea supplies remain relatively comfortable. Higher African and Myanmar tur offer prices, plus weather-related risks in western and southern India, point to a structurally firmer floor for protein-rich pulses. Imported tur into India has turned decisively more expensive, with African-origin offers reportedly up about $100/tonne and Yangon values higher by roughly $60/tonne in just ten days, pushing Myanmar CNF indications from around $855 to $915/tonne. At the same time, weaker monsoon rainfall in Maharashtra and Karnataka is raising concerns about tur crop development and delaying relief from domestic tightness, with the local market expecting a further ₹500–600/quintal upside for lemon tur in Chennai before the next crop arrives in about four months. As tur is a key substitute and competitor in India’s protein basket, this firmness is increasingly relevant for the dried pea market.

Prices

European dried pea quotations in EUR remain broadly steady at relatively low absolute levels, but the tightening in India’s tur market suggests limited downside from here.

  • GB "Peas dried" marrowfat, London FOB: 1.24 EUR/kg (latest quotation, unchanged versus the previous update).
  • GB "Peas dried" green, London FOB: 0.96 EUR/kg (stable in the most recent quotation series).
  • UA "Peas dried" yellow 98% purity, Odesa FCA: 0.17 EUR/kg, unchanged in recent updates.
  • UA "Peas dried" green 98% purity, Odesa FCA: 0.20 EUR/kg, holding firm after a modest earlier correction.

This stability in European and Black Sea pea quotes contrasts with the notable firming in tur, but rising replacement costs for pigeon peas into India are likely to gradually spill over into pea demand and help underpin forward values.

Supply & Demand

The crucial driver for the pea balance in the near term is India’s tightening tur situation. Imported tur flows are becoming more expensive as African origins raise offers by about $100/tonne and Myanmar shipment values climb by around $60/tonne within days, signaling tightening availability and stronger replacement costs into India.

Domestically, India’s next tur harvest is still roughly four months away, leaving a prolonged window in which buyers must rely on higher-priced imports or draw down local stocks. Lemon tur prices in Chennai have already strengthened sharply, and expectations of an additional ₹500–600/quintal rise point to sustained rationing through elevated prices rather than increased supply.

Because India’s protein demand is relatively inelastic, this firmness in tur is likely to support continued interest in alternative pulses, including yellow and green peas, especially if local weather issues further disrupt tur yields. Meanwhile, major exporting regions for dry peas such as Canada and the Black Sea maintain reasonable stock cushions, but farmer selling is reported to be measured, which can slow supply response to any demand uptick from South and East Asia.

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Peas dried — marrowfat
Peas dried
marrowfat
FOB 1.24 €/kg
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Peas dried — green
Peas dried
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FOB 0.96 €/kg
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Peas dried — yellow
Peas dried
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FCA 0.17 €/kg
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Weather & Crop Outlook

Weather conditions in India are central to the pulse outlook. Weaker and uneven rainfall in Maharashtra and Karnataka is already creating concern over tur crop development, reinforcing the view that domestic supplies may not ease significantly before the new crop in approximately four months. This risk premium is being built into tur values and indirectly into expectations for substitute pulses.

In key pea-growing exporters, recent reporting points to adequate, though not excessive, production potential. However, with logistics from the Black Sea region periodically disrupted and acreage in some Southern Hemisphere origins under pressure from competing crops, buyers cannot assume unlimited cheap pea availability into 2027. As such, India’s weather-sensitive tur crop trajectory will be closely watched by pea traders as an early signal for any step-up in import demand.

Fundamentals & Cross-Commodity Links

The core fundamental story is a divergence: globally, dry peas are still relatively well supplied, but India’s tur market is tightening quickly. This divergence is important because India is not only a large tur consumer but also a significant buyer of imported peas when price spreads encourage substitution.

Higher CNF tur offers from Myanmar (about $855 to $915/tonne) and steeper African origin quotes signal that international sellers have pricing power in pigeon peas. If these levels persist, Indian importers may increasingly look to peas to balance protein requirements, particularly in price-sensitive segments where recipe or blend flexibility is high.

For now, competitive European and Black Sea pea prices in EUR, coupled with still-manageable logistics, provide an attractive ceiling on protein costs for some buyers. But any further deterioration in India’s tur crop outlook, or renewed disruptions in Black Sea supply chains, would quickly strengthen the linkage between tur and pea prices and could narrow today’s comfortable spreads.

Trading Outlook

  • Importers/Consumers: Consider forward coverage on yellow and green peas at current EUR levels, as upside risk grows with India’s firm tur market and potential weather-related supply issues.
  • Producers/Exporters: Maintain price discipline and avoid aggressive discounting; the combination of higher tur replacement costs and seasonal demand should support bids, especially into South Asia.
  • Traders: Watch the tur–pea price spread in India and CNF offers from African and Myanmar origins closely; a further ₹500–600/quintal rise in tur would likely catalyze incremental pea demand.

3‑Day Regional Outlook

Region/OriginProductTerm3‑Day Price View (EUR)
GB, LondonDried peas, marrowfatFOBStable around 1.24 EUR/kg with mild upside risk
GB, LondonDried peas, greenFOBStable near 0.96 EUR/kg; bids likely to hold
UA, OdesaDried peas, yellow & green 98%FCASteady at 0.17–0.20 EUR/kg; watch logistics headlines
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