Sharp price decline
As the pressure is on in India export prices have declined sharply. Arrivals have certainly picked up but the market is still waiting for large volumes to become available in Madhya Pradesh and Karnataka. Demand has also taken a rather surprising turn as it has so far failed to revive after Holi, which is normally the case.
A similar situation prevails for export demand. Although supplies of last year's crop are nearly sold out, demand is slow to pick up for the new crop as the quality and moisture content is still being assessed. This is