Masoor Report As On 25th August 2026 by Amit Gupta, Kedia Advisory
Price Performance: Masoor (Lentils) (Indore) spot prices stood at ?6,050 per quintal, gaining 0.41% over one week but declining 3.20% over one month, 1.22% over three months and 2.02% YoY. Prices remained under pressure due to increased summer pulse arrivals and subdued processor demand, although lower imports and improving export demand helped cushion the downside
Domestic Supply & Production: Domestic supply conditions remain mixed. Jan–Jun 2026 arrivals declined 41% to 2.19 lakh tonnes, while Apr–Mar imports fell 5.93% to 11.46 lakh tonnes and April imports plunged 50% to 64,783 tonnes, tightening supplies. However, Third Advance Estimates projected 2025-26 Masoor (Lentils) production at 17.62 lakh tonnes, up 6.53% YoY, improving domestic availability.
Demand, Exports & Policy: Demand fundamentals remain supportive. The government increased Masoor (Lentils) MSP by ?300 to ?7,000 per quintal, while the 30% import duty on Yellow Peas continued supporting domestic consumption. April exports surged 407% to 52,584 tonnes, reflecting stronger overseas demand. However, processors remained cautious and avoided bulk forward buying, limiting speculative demand.
Global Supply Outlook: Global fundamentals remain balanced. Canada's 2026-27 lentil acreage is expected to decline 6%, while production is projected to fall nearly 30% to 2.3 million tonnes, supporting prices. Conversely, Australia forecasts a record 2.21 million tonnes of lentil production and strong Canadian 2025-26 output continue weighing on medium-term global price sentiment despite higher freight costs from Middle East tensions.
Technical Outlook: Technically, Masoor (Lentils) remains in a corrective structure. Weekly RSI has eased to around the neutral zone, MACD has generated a bearish crossover, while the Vortex indicator shows bearish dominance over bullish momentum. Volatility remains elevated, suggesting wider price swings. As long as prices remain below key resistance levels, corrective weakness may persist.
Price Outlook
Price Trend 1-2 Months 3+ Months 6050.00 Initial Sell then Buy on drop Prices trading below Rs 6,120 look weak and may test Rs 5,980 - Rs 5,950. Technically, bearish MACD crossover, weakening Vortex trend, and elevated volatility. Fundamentally, higher domestic production of 17.62 lakh tonnes, comfortable inventories and record Australian output may weigh on prices despite lower arrivals, reduced imports, higher MSP and stronger export demand. After an initial decline towards Rs 5,950–5,900, prices may witness fresh low-level buying for again a jump towards Rs 6,000–6,120, while major support is placed near Rs 5,5820. Fundamentally, lower imports, declining Canadian production, stronger exports and MSP support may attract buying on declines, although higher domestic production and record Australian supplies could cap sustained rallies.3
* Masoor prices dropped 1.6% monthly as buyer activity weakened and mills restricted purchases.
* Jan-Aug 2026 arrivals fell 42% to 2.50 lakh tonnes, tightening domestic availability.
* Kharif pulses sowing declined 8% to 113.63 lakh hectares versus five-year average 123.64 lakh.
* Masoor imports surged over 163% in Apr - June to 3.90 lakh tonnes.
* Apr-Jun 2026 Masoor exports jumped 336% year-on-year to 1.04 lakh tonnes.
* Masoor MSP increased ?300, or 4.48%, to ?7,000/quintal for 2026-27.
* Dal millers and institutional stockists increased procurement ahead of the upcoming festival quarter.
* Weekly stock declarations remain strictly enforced by Consumer Affairs, limiting speculative inventory accumulation.
* Government’s 30% Yellow Peas duty is supporting domestic Masoor demand and substitution.
* Rabi acreage shifting toward wheat could reduce India’s 2026-27 lentil sowing by 4%.
* India extended duty-free Tur and Urad imports through March 31, 2027, improving pulse availability.
* Pulse millers remain cautious, purchasing Masoor strictly according to immediate requirements at current prices.
* Canadian early harvest progress in Saskatchewan and Alberta is easing global supply-disruption concerns.
* AAFC expects Canadian lentil acreage to decline 6% to 1.7 million hectares.
* Volatile Canadian prairie weather poses medium-term new-crop supply risks despite early harvest progress.
* Canada’s 2025-26 lentil production exceeded 3 million tonnes following above-average yields.
* ABARES projects Australian lentil production at record 2.21 million tonnes during 2026-27.
* Large Australian output and aggressive exports are pressuring sentiment toward Indian Masoor imports.
* Global lentil production may reach 7.2 million tonnes in 2026-27 on expanded acreage.
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