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Tur Cash Market Could Not Sustain Its Upward Momentum, May Decrease Further By 100-150

Tur cash markets could not sustain its firm momentum and may decrease by 100-150 more from the current level. Arrival pace is yet to pick up while demand from the bulk consumers like mills/stockists remains restricted. Pressure on price might be seen in coming days despite the low volume of import till mid -Jan. Market is aware of the fact that volume of import may increase as the production in Myanmar was reported at 2.5lakh MT.Import from Mozambique, Tanzania and Malawi continues at the cheaper price. All these factors have limited the scope for uptrend in the short term. The medium term outlook seems good. Stake holders should start buying after a correction of 150-200.Nafed is active in states of Maharashtra, Karnataka and have planned to procure in other states too and Its procurement drive would not allow market to decrease beyond a certain level. Tur in Gulbarga market is being traded at 6000-6600,depending on quality of the crop.