MUMBAI (Commoditiescontrol) – Prices of major pulses, such as tur, urad, masoor, Kabuli chana and white pea declined for the week ending on Saturday (February 26-March 03) amid lacklustre millers' trade activity as sales counters in processed pulses remained sluggish. While, chana prices remained firm as government raised the import duty on the commodity from 40% to 60%. On the other hand, moong prices remained unchanged on thin trade against adequate stock and arrivals of new rabi moong in Andhra Pradesh.
Week Highlights
# India Government Increases Import Duty On Chana From 40% To 60%. Kabuli Chana Will Attract Import Duty Of 54 % From 40 % Earlier.
# Tur Procurement To Begin From March 12 In Gujarat.
# Government In Second Advance Estimates Pegged 2017-18 Pulses Production At Record 239.5LT Vs 231.3LT Last Yr. Chana: 110 Vs 93.8, Urad:32.3 Vs 28.3, Tur:40.2 Vs 48.7, Moong: 17.4 Vs 21.7.
# Pulse Australia & IPGA Sign Agreement To Exchange Information On Indian Pulse Crop.
# Russia’s Matar Export Rises In December. The December volume reached to a record 139.5 MT. In total, 710.2 MT of peas were already shipped abroad from Russia in the first half of MY 2017/18.
Burma Lemon Tur:
Tur Lemon variety of Burma origin declined by Rs during early trading session at Mumbai pulses market on Wednesday due to regular domestic arrivals and sluggish millers buying.
Millers are hesitant to buy the commodity despite it is available at cheaper level compared to domestic tur as sales counters in processed tur remained sluggish at existing rates.
NAFED Procures (Kharif 2017-18) 386273.694 MT Tur As On 27 Feb At MSP Prices Of Rs 5450. Maharashtra:49021.889, Andhra Pradesh:5198.050, Karnataka:256753.755 (Procurement Temporarily Suspended), Telangana:75300 (Sanctioned Qty Procured).
In Kanpur, Maharashtra origin (Hinghanghat/Nagpur), tur dal new Phatka Sortex quality priced steady at Rs 5,800-5,850, new semi-Sortex at Rs 5,700, new regular variety at Rs 5,550 respectively. Actual trade activity were reported negligible even at existing lower rates from wholesalers/retailers counter and sellers were active in the market.
Gujarat origin Wasat Phatka variety new offered flat at Rs 6,400-6,600/100Kg. Similarly, Latur origin new Phatka variety also ruled steady at Rs 6,100-6,300/100kg. Jalna origin new phatka variety priced down at Rs 6,300-6,500/100Kg.
According to market sources , procurement of tur is in slow pace by government at MSP price and farmers who were in need of money and also had not registered online were still selling their tur at lower prices to private traders and millers. Regular supply of tur from overseas and agency selling last year imported tur stock at cheaper rates not come prices of tur at par with MSP in open market. Government selling their procured last year stock of raw and processed tur at lower rates was also dampening the sentiments. Maharashtra government were sell tur dal at subsidized rates, Rs 55 a kg, at rationing shops and also to various departments for consumption under their schemes. Government is now releasing stock into the market for milling and offloading the dall in the open market. However, traders and millers were having sufficient stock of raw and processed tur. Weakness in other pulses, such as chana were also pressurising the prices of tur.
Prices of tur likely to remain steady to weak due to poor demand and sales counter in tur dal. Activity will be also slow as major market will be closed for holi festive from Thursday till Panchami on Tuesday. The trade activity across the country is likely to remain subdued in pulses complex due to financial year (FY 2017-18) end as market participants and traders will be busy with tax concerns.
Burma Urad:
In Mumbai, old and new crop of Burma urad remained weak by Rs 50 at Rs 3,950/100Kg and Rs 4,050 respectively amid adequate domestic stock in major states, supply of rabi domestic crop in Andhra Pradesh and sluggish trade activities.
Moreover, demand for processed urad from consumption centers also reported dull at existing rates from consumption centers. Bikaner origin branded Urad dal price offered at Rs 4,700-5,000/100Kg. Tiranga brand of Mumbai at Rs 5,800/100Kg. Parivar brand of Jalgaon at Rs 5,300/100Kg.
Similarly, at Chennai, Urad SQ and FAQ fell by Rs 150-300 to Rs 4,800/100Kg and Rs 4,000 respectively as sellers were active in the market. Millers were purchasing domestic urad as they were getting superior quality stocks at cheaper rates.
NAFED has successfully procured 264994.56 MT Urad In 2017 Season So Far at Minimum Support Price of Rs 5400 (Rs 5200+200 bonus).
Chana Kantewala (Indore):
In Indore market, Chana prices traded firm by Rs 25 at Rs 3,725-3,750/100Kg on local millers buying support, slow domestic arrivals as market closed due to holi festive and also government raised the import duty on the commodity from 40% to 60%.
On other hand, Australia origin Chana at Mumbai and Mundra port remained unchanged at Rs 3,800-3,825/100Kg respectively on slow millers trade as sales counter in chana dal reported slack from wholesalers/retailers counters.
Around 112291.119 tonnes stock of Australia chana reported at Mundra and Tuna port as on February 28.
NAFED Procures (Rabi 2017-18) 764.900 MT Chana As On 26 Feb At MSP Prices Of Rs 4400. Telangana:592.55, Karnataka:172.350.
At National Commodity and Derivatives Exchange (NCDEX), chana for March contract settled firm on Thursday by 0.3 per cent or Rs.11 at Rs.3,679/100Kgs. Earlier in the day, the contract slid to Rs.3,672 and touched a high of Rs.3,726 per quintal.
Technically, the trend is down. Key trend-line support has broken. Keep a stop loss of 3930 to hold any short positions. Expect lower range of 3600 – 3550 to be tested.
Australian chana dal priced lower by Rs 200 at Rs 4,550/100 Kg on dull trade from wholesalers/retailers counter. Domestic chana dal of Pistol brand also quoted lower at Rs 4,750, Samrat brand at Rs 5,100 and Angel brand at Rs 5,000. Chana besan also offered weak at Rs 2,890/50Kg. While, Vatana besan traded steady at Rs 1,930/50 Kg. Vatana dal trades at Rs 3,350-3,400.
New kabuli chana count 85-90 along with Coc-2 variety traded weak at Rayalaseema, Andhra Pradesh. Delhi traders preferred to purchase kabuli chana at lower rates from Maharashtra (Shirpur/Jalgaon origin) compared to Andhra Pradesh. New Kabuli Chana count 85-90 traded at Rs.5,100/100Kgs in loose and Rs.5,200/100Kgs for spot loading. Meanwhile, commodity was traded lower by Rs 100 at Rs.5,800/100Kgs for Delhi-delivery. New Coc-2 variety Kabuli Chana traded weak by Rs 100 at Rs.5,200/100Kgs in local market and at Rs 5,800 for Delhi delivery.
Selective counts 42-44 and 44-46 of new Kabuli Chana offered lower by Rs 200 at Rs 7,600/100Kg and Rs 7,400 respectively in Indore on higher supplies.
At Indore market, Kabuli Chana Dollar variety traded sharply weak at Rs.6,000-6,600/100Kgs despite lower arrivals.
As per market, prices of chana likely to be remained under pressure at trading centers across the country due to higher sowing this rabi season, ample of stock despite spread between chana and white pea has reduced. Domestic demand in recent years has shifted to white pea from chana due to cheaper rates. Government had already taken various measures in terms of restriction in imports and hike in import duty, but turned out inadequate so far to support the farmers. Arrivals of new chana likely to increase after holi festive as Madhya Pradesh government has extend ‘Bhavantar Bhugtan Yojana’ for rabi crop. Under the scheme government pays farmers the difference between the model price and MSP. Arrivals of new chana will also began from March end- April in Rajasthan.
Imported Masoor (Mumbai):
Canada origin crimson variety masoor along with Australia nugget variety masoor remained weak in Mumbai by Rs 50 to Rs 3,350/100Kg and Rs 3,450-3,550 respectively amid dull millers' buying support at existing rates, arrivals of new domestic masoor in Madhya Pradesh and Rajasthan at cheaper prices, availability of MMTC auctioned Canada Masoor (2016) at lower rates and sufficient availability of imported stock.
Demand in processed Masoor also reported sluggish from consumption centres. Canada Masoor dal of Bhiwandi mills offered flat at Rs 4,200/100Kgs, for APMC Vashi market delivery.
Around 113696.682 tonnes stock of imported Masoor reported at Mundra/Hazira/Tuna port as on February 28.
In forward business, Canada crimson variety masoor offered at $450 per ton in container on CNF basis Nhava- Sheva For March shipment.
Imported White Pea (Mumbai):
Canada, Ukraine and Russia origin White Pea at Mumbai remained weak by Rs 20-25/100Kg at Rs 2,941-2,951/100Kgs, 2,901 and Rs 2,875 respectively due to subdued millers buying at higher rates. Importers were releasing their produce post addition of 50% import duty at Mundra port as the commodity has approached the parity level (Cost+ import duty).
Demand for processed Matar from consumption centers reported limited at higher rates as they had purchased it as per their requirements for festive period earlier.
Around 353193.769 tonnes stock of imported White Pea reported at Mundra/Hazira/Tuna port as on February 28. In Mundra port 154000 MT is in duty bound warehouse and in Hazira port 35000 MT is in duty bound warehouse.
Moong (Jaipur):
Moong priced unchanged in Jaipur market at Rs 4,800/100Kg during the last week on thin millers trade and sufficient availability of stock with private traders and millers.
Similarly, Moong dal prices priced unchanged at Rs 6,000-6,100/100Kg.
Supply of new moong witnessed 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.
New crop of moong expected to be lower compared to previous year in Odisha due to untimely rain along with delay in harvesting of paddy. Meanwhile, new moong of Ganjam district is expected to begin from March, while in April at Cuttack district. Crop of moong is also expected to be delayed by 10-15 days.
Nafed is active for Sale Of Moong (Kharif-2017) In Maharashtra and Telangana.
NAFED has successfully procured 295340.79 MT Moong In 2017 Season So Far at Minimum Support Price of Rs 5575 (Rs 5375+200 bonus).
(By Commoditiescontrol Bureau; +91-22-40015513)