Pigeon Peas Price Likely to Increase in Future Burma, Sudan and Nigeria do not have much quantity

INDIA: The current stock of Pigeon peas is not in line with the consumption. Experts believe when the subscriptions come out, there will be a good price increase for the pulse.

Current Scenario

The demand for Pigeon peas in the pulse mills has wholly cooled down. The tightness is due to the slump of the rupees in the markets. As a result, the recession has taken a toll on the price and the market.

The lack of stock in the spot markets across the country and abroad will increase the price. It is expected to be between $0,38 and $0,51 per kg as soon as the subscription comes out.

It is causing a slowdown in sales, and currently, it is priced at $0,83 per kg since there is not much business for the pulse.

In the pigeon peas growing areas, i.e., Bihar, Jharkhand, and Madhya Pradesh, the sowing is less because it failed to procure some profits for the farmers last year. Currently, the pulse is sold for $0,74 – $0,79 per kg in the region.

Local pulse mills of MP and Bihar are buying the pulses to harvest.

On the other hand, the arrival of Pigeon peas in Amravati, Jalgaon, Akola, and Khamgaon Jalna line of Maharashtra has decreased significantly over the last two days.

There is also no stock in the pulse mills of the Jalgaon line, but pulse mills there, too, are buying less due to a lack of consumption in ripe goods.

The production of Pigeon peas has decreased domestically in India. Therefore, although the government has increased the import of Pigeon peas by 31 March 2023, it will not have an effect in the form of a recession.

Burma, Sudan and Nigeria do not have many goods, and the old pulses have been disposed of.

Prediction

There has been a decline of $ 10-20 per ton in the last week. It was due to the lack of goods in the international market. However, experts predict the market will increase as soon as the demand for pulses mills comes out. Hence, it is better to keep trading at the current price as it won’t get bullish in the near term.

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