Weekly Pulses: Matar Posts Strong Gains On Demand, But Tur Plunges

MUMBAI (Commoditiescontrol) - Tur, Chana, Moong and Masoor were among the top losers this week ended Saturday (Feb 19-24) due to sluggish off take, whereas Matar and Urad managed to trade higher helped by good demand from traders and millers.



Highlights
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Imported White Pea (Mumbai)
Canada origin Matar price gained for the second straight week by 3.53%, or Rs 100 at Rs 2,900/100kg at the benchmark Mumbai pulses market supported by strong demand against restricted supply. The rise in prices was very much on card as domestic consumption is mainly depend on import, which has been come to standstill after India government slapped hefty 50% on it.

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The country had imported 31.72 lakh tonnes of matar during FY 2016-17, but expected to decline at around 28 lakh tonnes during the current FY 2017-18 as prices turned uncompetitive after the import duty of 50%. The domestic consumption of Matar over the last couple of years have increased substantially amid increasing population and prices being lowest in the pulses complex.

The domestic production of Matar is not sufficient to meet demand and thus prices are rising in the local market. The uptrend in prices is likely to continue and we assume it to rise until import comes to parity.

The local buyers of Matar is not heavily depends on the stocks imported earlier followed by domestic rabi crop. The stocks are depleting at faster face, which is supporting prices.

There is still a good quantity of imported Matar lying at various ports as delivery was not took by the importers. The importers avoid to take delivery of imported Matar as it cost much higher than domestic prevailing rates after adding 50% import duty. But buyers may opt to take delivery in case the parity narrows or equals with domestic market.

Burma Urad (Mumbai):
Burma Urad managed to rise by 1.27%, or Rs 50 at Rs 4,025/100kg at the key Mumbai pulses market helped by some good demand from south India and other consumptions centers. The rise in prices were attributed to some good buying during the early days of this week, but faded later on.

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Urad prices on Tuesday, February 20, 2018 jumped up by Rs 150 to trade at Rs 4,100/100kg on fresh buying support from millers and dwindling imported stock. The availability of imported urad is very limited in the country as import has been halt since last five-six months after India in August put quantitative restriction on it in a bid to support to falling prices of locally produced pulses. Imports of these pulses is now be subjected to an annual quota (fiscal year) of 3 lakh MT only. Earlier there was no quantitative restrictions imposed on the imports of these pulses into India.

The buyers earlier prompted to procure Urad with veiw that prices have already bottomed out and likely to get support at lower rates amid decline in imported stock. Domestic urad stock were reported in hands of strong traders and stockists. The traders in Madhya Pradesh have procured good quantity of Urad from farmers at the lower rates under 'Bhavantar Bhugatan Yojana'. The traders are now holding their stocks tightly and waiting for some good rise in prices ahead to liqudiate stocks.

Burma Lemon Tur:
Burma lemon Tur prices was among the major looser this week with declining as much as 3.01%, or Rs 75 at Rs 4,025/100kg at the Mumbai pulses market weighed by poor consumption demand in Tur dal amid availability of vegetables at very competitive rates.

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Usually the consumption of Tur dal remain lower during January to March-April period due to abudant availability of vegetable at cheaper rates, which prompts people to consume low-prices vegetables instead of Tur dal.



Though imported Tur import are almost negligible, but there is sufficient stocks in the country to cater demand. Further there is good amount of Tur stocks in hands of government procured earlier last kharif season under price stabilization scheme (PSS) to support prices, which have dropped below MSP level.

According to sources, prices is likely to move up as demand for Tur and Tur dal is expected to rise after Holi festival (2-3 March) as the pipeline is dry.

New tur of Uttar Pradesh origin offered weak by Rs 50 at Rs 3,850-3,900/100Kg for Kanpur delivery condition on Friday with 13% kachri quality, 11.5% moisture, 2.5% vatau and 1% bardana discount. Similarly, Madhya Pradesh origin new tur also quoted lower by Rs 50 at Rs 3,900/100Kg for Kanpur delivery condition with 13% kachri quality, 11.5% moisture, 2.5% vatau and 1% bardana discount.

In Kanpur, Maharashtra origin (Hinghanghat/Nagpur), tur dal new Phatka Sortex quality priced flat at Rs 6,000, new semi-Sortex at Rs 5,800, new regular variety at Rs 5,650-5,700 respectively. Actual trade activity were reported negligible at existing rates from wholesalers/retailers counter and sellers were active in the market.

Chana Kantewala (Indore):
In Indore market, Chana prices traded down 2.50%, or Rs by Rs 100 at Rs 3,900/100Kg on slow millers buying support as new crop supply is expected to gather momentum ahead. On other hand, Australia origin Chana at Mumbai port dropped by Rs 2.46%, or Rs 100 at Rs 3,950/100Kg tracking weakness in locally grown Chana.

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The new crop supply of Chana has started and the pace of arrival is expected to increase in full swing after Holi festival. Demand at present is hand-to-mouth as buyers are expecting some correction in prices ahead when supply will be at peak level.



Australian chana dal priced lower on Friday by Rs 50 at Rs 4,950/100 Kg on dull trade from wholesalers/retailers counter. Domestic chana dal of Maharashtra also quoted lower by Rs 50 at Rs 5,050 and regular chana dal at Rs 4,950/100Kg. On other hand, Chana besan offered steady at Rs 2,950/50Kg. While, Vatana besan traded higher by Rs 75 at Rs 1,930/50 Kg. Vatana dal also trades firm by Rs 100 at Rs 3,300-3,350.

At Rayalaseema, new Kabuli Chana offered unchanged amid sluggish trade activities as sellers were active in the market. But no deal was concluded till report was covered due to difference between buyers and sellers quotes. New Kabuli Chana count 85-90 priced at Rs.5,200/100Kgs in loose and Rs.5,300/100Kgs for spot loading. Similarly, the commodity was quoted steady at Rs.6,000/100Kgs for Delhi-delivery but no trade was reported. However, no deal was concluded till report was covered due to difference in buyers and sellers quotes. Buyers were interested to purchase at Rs.5,900. On the other hand, new Coc-2 variety Kabuli Chana traded steady at Rs.5,400/100Kgs. Commodity was traded flat at Rs.6,000/100Kgs for Delhi-delivery on thin activity.

All counts of Kabuli Chana traded steady at Indore amid negligible buying from purchasers at prevailing rates. The supply totaled at 25,000 bags (Each bag=100Kgs) today at Madhya Pradesh out of which 7,500 bags arrived at Indore spot market against 8,500 bags yesterday.

Moong (Jaipur):
Desi moong prices slipped by 2.04%, or Rs 100 at Rs 4,800/100kg at the Jaipur market of Rajasthan during the week in the absence of encouraging advices from major consumption centers with abundant stocks in the country.

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The stockists are active in the spot markets to liquidate their moong stocks in order to make room to procure crops like Tur, Chana, Wheat, etc.
Nafed sale detail of 460 MT Moong Rabi 2017 PSS at Rs 4,505/100Kg in Hosangabad center, 450 MT at Rs 4,507/100kg in Pipariya center and 200 MT at Rs 4,521/100Kg at Gadarwada of Madhya Pradesh on 21 February 18. Nafed had total procured 112290.90 MT and Balance 102049.06 MT.

Nafed sale detail of 97.9 MT Moong Kharif 2017 PSS at Rs 4,503/100Kg in Suryapeta center of Telangana on 20 February 18. Nafed had total procured 3319.946 MT and Balance 3222.05 MT.

Nafed sale detail of 1000 MT Moong Rabi 2017 PSS at Rs 4,503/100Kg in Pipariya center of Madhya Pradesh on 19 February 18. Nafed had total procured 112290.90 MT and Balance 103850.10 MT.

Meanwhile, prices were pressured by new crop commencement at the Srikakulam market of Andhra Pradesh. Crop position of moong for current season is lower compared to last year. The crop was mainly affected post sowing due to Ockhi cyclone in December 2017 accompanied with foggy climate during the growth stages. Despite of lower crop moong crop this season, prices are unlikely to gain due to adequate stock position of domestic crop in many states.

Imported Masoor (Mumbai):
Canada crimson Masoor declined 1.45%, or Rs 50 at Rs 3,400/100kg at the Mumbai market this week weighed by dull millers buying support at existing rates, arrivals of new domestic masoor in Madhya Pradesh and Rajasthan at cheaper prices, and sufficient availability of imported stock.

Though masoor demand and price is sluggish at present, but downside in prices is limited due to negligible imports from overseas.



(By Commoditiescontrol Bureau; +91-22-40015533)