Lentils (Masoor) Market: Range-Bound Amid Soft Demand and Ample Imports

Masoor lentils are trading in a steady to slightly soft range as profit-taking and weak dal mill demand cap any upside, despite adequate overall availability. Imported masoor continues to weigh on domestic sentiment, keeping price expectations modest for the near term. In India’s wholesale market, masoor is quoted around USD 71.66–71.92 per quintal, with buyers largely covering only immediate requirements. At the same time, international offers for green and red lentils from China and Canada show a mildly softer tone compared with late May, reflecting a generally comfortable global balance. However, rising ocean freight and the risk of a below-normal Indian monsoon introduce upside cost and supply risks later in the season.

Prices

Domestic masoor in New Delhi is assessed around USD 71.66–71.92 per quintal, indicating a steady to slightly soft undertone as traders book profits after previous gains and demand from dal mills remains limited.

Converted to approximate EUR terms (assuming 1 USD ≈ 0.92 EUR), this implies about EUR 65.9–66.1 per quintal.

Supply & Demand

In India, masoor availability is described as sufficient across major markets, with imported stocks reinforcing the comfortable supply situation. Traders report that buyers are purchasing only for immediate needs, limiting follow-through after recent price moves and keeping the market in a range-bound pattern.

Other Indian pulses like tur and urad have recently firmed, while masoor and chana remain under relative pressure, showing that demand is rotating within the pulse complex rather than broadly tightening. This reinforces the view that masoor-specific demand from dal mills remains subdued for now.

Globally, lentil export offers from Canada for both green (Laird, Eston) and red types have eased slightly over late May–early June, while Chinese FOB small green lentils are broadly stable, with only minor movement in organic premiums. This combination suggests that import parity into India, while supportive at the lower end, is not yet tight enough to force a strong domestic rally.

Fundamentals & Weather

Fundamentally, the key balancing factor is the relationship between domestic masoor prices and the cost of imported lentils. With international quotations steady to softer and shipping capacity still available, imported masoor continues to cap rallies in the Indian market.

At the macro level, container freight rates on major trade lanes have been rising amid early peak-season demand and geopolitical disruptions, increasing spot ocean costs for agri-bulk containers. This may gradually lift landed values for imported lentils, but so far the effect has been more of a medium-term risk than an immediate driver of higher spot prices.

Weather-wise, India’s 2026 southwest monsoon is forecast to be below normal at about 90–92% of the long-period average due to El Niño conditions. Early-season progress in eastern and northeastern regions has been relatively quick, but concerns remain that rainfall could weaken later in the season, potentially tightening pulse production in 2026–27 if deficits persist.

Outlook

In the near term, the masoor market is expected to remain steady to soft, with limited upside unless dal mill demand improves significantly. Traders explicitly note that without a sharp pickup in mill buying, prices are likely to stay range-bound, with some value-based buying emerging only at lower levels.

Medium term, the combination of a potentially weaker monsoon and higher container freight costs introduces upside risks for late-2026 and early-2027 supply and import costs. However, current stocks and ongoing import availability suggest these risks will be felt gradually, rather than as an immediate price shock.

Trading Outlook

• Importers / Traders: Use current steady-to-soft levels to cover nearby requirements but avoid aggressive long positions until there is clearer evidence of stronger dal mill demand or significant monsoon-related supply concerns.
• Dal mills / Processors: Consider staggered buying on dips; at lower domestic prices, some processors are expected to step in, but a strong upside appears unlikely in the short term.
• Producers: Monitor monsoon progress and government policy closely; a weaker monsoon or policy support for pulses could later lend price support, but near-term hedging of stocks against further softness may still be prudent.

3-Day Price Indication (Directional)

• India (masoor, wholesale markets): Stable to slightly softer in the next 3 days, with trade dominated by need-based buying.
• FOB China (small green lentils): Largely steady; limited scope for sharp moves given current global balance.
• FOB Canada (green and red lentils): Mild soft bias or sideways as export demand remains measured and recent easing is digested by the market.