Tight Indian Masoor Stocks and Costly Canadian Imports Support Lentil Prices
Indian masoor lentil stocks are tightening while Canadian imports get pricier, underpinning firm prices. Read the latest supply, demand and price outlook.
Prices
Domestic bold masoor in India is indicated around USD 73.82 per quintal, while national mandi data show average lentil (masoor) wholesale prices near INR 6,800–6,950 per quintal as of 6–7 September 2026, up roughly 4% over the past month . Converting these levels suggests an indicative domestic range around EUR 70–80 per 100 kg, depending on location, quality and logistics.
On the import side, Canadian lentil offers have recently increased by about USD 20–25 per tonne, directly raising replacement costs for Indian buyers. FOB offers for Canadian dried lentils (red and green types) currently imply roughly EUR 1.20–2.10 per kg depending on type and specification, with recent quotes around EUR 2.05/kg for Canadian red football lentils and EUR 1.21–1.25/kg for bulk green lentils (Eston and Laird types), based on typical CAD/EUR and USD/EUR conversions.
Supply & Demand
India’s domestic masoor production is estimated at only 1.8–1.9 million tonnes against consumption of about 3 million tonnes, leaving a structural deficit of roughly 1.1–1.2 million tonnes that must be covered by imports or stock drawdowns. This gap is particularly important in the current season, as old-crop stocks in major belts of Madhya Pradesh, Uttar Pradesh and Rajasthan have fallen sharply.
Arrivals in key markets such as Mungawali, Ganj Basoda, Sagar, Bhopal and Binaganj are reported around 50% below last year, mainly because farmers have already liquidated much of their crop. Meanwhile, recent mandi data confirm tightness: average all-India masoor prices around INR 6,800–6,950 per quintal are close to or just below the 2026–27 Minimum Support Price of INR 7,000 per quintal, suggesting limited downside as long as supplies remain constrained .
Fundamentals & Weather
The combination of lower domestic production, depleted old-crop stocks and an entrenched structural deficit keeps India highly dependent on imported lentils, particularly from Canada and Australia. The recent USD 20–25 per tonne increase in Canadian lentil prices tightens margins for Indian importers and reinforces upward pressure on domestic values, especially for bold masoor and higher-quality grades.
Near-term fundamentals will hinge on rabi sowing intentions and monsoon behaviour in major producing states such as Madhya Pradesh and Uttar Pradesh. Early September weather forecasts point to largely normal late-monsoon conditions across central India, but any shortfall in soil moisture ahead of rabi planting could cap acreage and prolong supply tightness into 2027. Traders are therefore closely monitoring monsoon totals, reservoir levels and any policy signals on imports or support prices.
Outlook & Trading Strategy
- Price bias: With a 1.1–1.2 million tonne structural deficit, low old-crop stocks and higher import costs, the price risk for Indian masoor remains skewed to the upside over the coming weeks.
- For importers: Consider staggered coverage of Q4 2026–Q1 2027 needs, using price dips in Canadian offers to extend coverage, while monitoring freight and FX for any improvement in landed cost.
- For domestic stockists: Given tight arrivals and prices near MSP, gradual profit-taking on rallies while retaining a core long position appears prudent until clearer signals emerge on rabi acreage and early crop conditions.
- For processors and retailers: Lock in part of raw material needs via forward purchases or contracts to hedge against potential further firmness, especially for bold masoor and higher-quality imported grades.