OPEC crdue oil production in Q1 is estimated by Barclays at 29.7 million barrels per day and so far it has averaged 29.8 mb/d. Although it is slightly higher by 100,000 b/d more than estimated it will not lead to significant inventory build up.
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Tur or Pigeon Pea is another pulse crop known for its rich nutritional value and wide use across many countries in the world. Tur believed to be a native of India spread to other regions in Asia and is currently cultivated in nearly 25 countries. It is also known as red gram, Congo Pea, Gungo pea etc.
India is the largest producer accounting for more than 80 percent in area as well as total production in the world. Other major producers are Myanmar, Malawai, Nepal etc.
Global production of tur is estimated to be around 4 million tons. Global production of tur has increased 40 percent since 1970s with the rise in area of cultivation in many countries in Asia and Africa.
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In India, the total area under tur is estimated at 3.75 million hectares. The main centres of tur output in India are Maharashtra, Uttar Pradesh, Karnataka, Madhya Pradesh and Gujarat.
Tur contributes nearly 20 percent of India’s total pulses crop production of 12-15 million tons per year. The yield in India is between 600-1,200 kg per hectare.
Tur is cultivated between June-September period and arrival of fresh crop begins from October. India also imports around 400,000-500,000 ton of tur per year. The main source for import is Myanmar.
Climatic conditions have a crucial bearing on shaping the market sentiments in the case of tur. Carryover stocks, import and price of other pulse crops are other major factors shaping fortunes of domestic tur market.
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Indore, Bhopal and Vidisha in Madhya Pradesh, Jalgaon, Latur, Mumbai and Akola in Maharashtra are the major trading centres of tur in the country. Delhi, Kanpur, Hapur, Jalandhar, Ludhiana, Sangrur, Gulbarga, Chennai etc. are also known for their tur markets.