Mayur Global experts on the Indian pulse market

Harsha and Rohit Rai from Mayur Global offer their analysis at the Australian Grains Industry Conference.

Transcript

00:00Here we are in the final afternoon at the Australian Grains Industry Conference.

00:04I've got Harsha and Rohit Rai here.

00:07You guys are specialists in pulses.

00:09What's the season looking like in India this year?

00:12Hello everyone, I think we're looking at monsoon very precisely.

00:18Looking forward to few next months, August and September, where the yields are set.

00:23Though the monsoon picked up in July,

00:25but we're looking for August really precisely, as I said,

00:28because that is the time when the yields are set.

00:31And so far, our seeding has picked up for Fission Feast,

00:33which was lagging behind initially,

00:35which is one of the important kind of ground right now,

00:37which is a little positive.

00:39Also, we're looking at season ahead with government holding good buffer stock.

00:43So let's see how it shapes up in coming months.

00:46Now, Rohit, you've had a little visit to Horsham,

00:48one of the key parts of our pulse industry.

00:51What did you make of the season from an Australian perspective?

00:54So I think it's too early to come and drive now.

00:56We have to see another two months of rain, both in India and in Australia.

01:01Right now, the crop looks extremely good.

01:04All the farms are green.

01:05If you talk about canola, lentils, they were very good.

01:10I think decent crop, I don't think there will be much upside or low side.

01:17The price should be consistently here.

01:20Indian government, as Harsha said, has 600,000 tons of lentil stock and 2.5 million tons of chickpeas.

01:28So we are in a very comfortable situation right now.

01:31We have to look on other substitutes also, what the price are.

01:36And India is a very substitute driven market.

01:39So we need to look at all these factors.

01:43And I think the crop in Australia right now is good.

01:47Yeah. So as we've been chatting off camera, the next August and September will be critical,

01:51whether we're in India or whether we're in Australia.

01:52Thanks for having a chat to us guys.

01:54Thank you anyways.