African new crop tur prices at 4-year low as demand from India falls.

Prices of new crop tur of the African origin have hit a four-year low due to muted demand from India following sufficient stock of the pulse. Tur prices in Indian spot markets are way lower than the minimum support price, thereby, hardly giving any incentives to importers to ship the pulse from African countries. The new crop African origin Matwara tur variety is sold at $425 per tonne on cost and freight basis, down from $900 per tonne in the year-ago period, while Kenya origin was sold at $390 per tonne from $850 per tonne. About 70-75% of tur from African countries are shipped to India, which is the largest producer and consumer of tur. Sufficient stocks of tur in India following bumper production, limited demand from the dal millers is seen creating bearish sentiment in the global market as the former is a key buyer for their produce.