Low turnout at kirana muhurat trading

The muhurat trading in the kirana market at the Vashi-based Agriculture Produce Marketing Committee (APMC) ended on a dull note on Monday with many traders staying away, owing to a long holiday ahead.

The muhurat trading started after the traditional 'choppery puja' at 9.30 am. But, lack of interest among traders was evident since morning.

In the three hours of auspicious trading, roughly 6,000 bags of various kirana products were transacted among about 130 traders at the

APMC. No major transactions were seen in the muhurat trading, said Arun Bhinde, president, Navi Mumbai Commodities Brokers Welfare Association.

The APMC will remain closed for the next three days, with the markets set to open only on Friday.

Coriander was quoted in the range of Rs 35-60 a kg, while chilli traded in the range of Rs 60-100 a kg. Meanwhile, cumin seeds sold in the range of Rs 80-100 a kg, while fennel seeds were quoted between Rs 85-100 a kg.

"Nothing was exceptional on the muhurat trading in the kirana market this year. The entire sentiment has changed with the upgrade of trading mechanism. The online trading has brought up a phenomenal change in the traditional spot trading too," said Bhinde.

"Now, people decide to buy or sell either at the time of crisis or in anticipation of major price fluctuations. Trading has now become need-based as against interest-based earlier, he added.

The harvest of new kirana crops is expected to start very soon, pushing the supply upwards and the prices down. In the pre-harvest season, the prices of most of the products may go up, if supply remains tight, said Bhinde.

Unlike in the kirana market, the grain market witnessed the muhurat trading of five hours, beginning at 10 am on Monday.

"There has been no barometer to measure the total volume traded in this market. In short, a good volume of grains changed hands in the muhurat trading with a significant participation from grain traders," said Sharad Maru, president, Grain Rice and Oilseed Merchants Association.