Weekly: Pulses Drop On Listless Demand, Adequate Stock, New Arrivals

MUMBAI (Commoditiescontrol) – All pulses, such as Tur, Urad, Chana, Kabuli Chickpea, Masoor and White Pea declined for the week ended Saturday (April 9-14) amid dull buying support as sales counters in processed pulses were reported lacklustre. While, moong prices remained flat amid limited trade.



Week Highlights

#IMD Will Issue First Stage Of Long Range Monsoon Forecast For 2018 On April 16 (3.30PM IST).
# Around 150 Container Tur & 50 Container Urad Deals For Nepal From Burma.
# Pakistan Government Considering Restrictions On Chana Import.
# U.S Estimated Pulses Acreage In 2018 Vs 2017 (Lakh Acres). Chana:6.65 Vs 6.18, Masoor:7.91 Vs 11.28, Dry Edible Beans:9 Vs 11.28, White Pea: 0.19 Vs 0.26, Total:23.83 Vs 28.77.
# In a crucial Cabinet meeting chaired by Chief Minister Dr Raman Singh, it was decided that Chhattisgarh state government would procure over 61,000 metric tonnes of chana at minimum support price (MSP).
# MP Government Extend Procurement (Chana, Masur, Mustard) Date Till June 9 From May 31.
# Pulses Import At Tuticorin Port Feb Vs Jan (In Tons). White Pea: 5422 Vs 6,903, Urad: 24.04 Vs 397, Chana: Nil Vs 1,303, Moong: Nil Vs 145, Masoor: 821 Vs 2,933, Tur: Nil Vs Nil, Others: 2,192 Vs 4220.
# Centre Government Approves Chana (1.2LT), Masoor (1.2LT) & Mustard (1.6LT) Procurement At MSP In Uttar Pradesh.
# Maharashtra Asked Union Government To Extend Date For Tur Procurement Till May 31 From Current April 18 As Farmers In Large No. Registered Themselves To Sell Their Crop.
# Australia Bureau of Statistics: India Didn't Import Any Chana In February From Australia Vs 675MT In January & 20,999MT In December After Government Slaps 60% Import Duty.
# India Pulses Consumption Declines During 1961-2013 – FAO. The consumption of pulses in India has sharply declined from about 22kg per person a year to about 15kg per person a year, found a new report of the Food and Agriculture Organization (FAO) of the United Nations.

Burma Lemon Tur:
Tur Lemon variety of Burma origin extended losses by Rs 100-125 at Rs 3,800-3,825/100kg amid sluggish buying support from mills. Similarly, domestic new tur in bilty trade at Akola ruled weak by Rs 100 to Rs 4,125-4,150/100Kg.

Traders and millers were having sufficient stock of raw and processed tur. But, enquiries were not reported in Tur dal even at lower rates due to ongoing mango season. Sentiments had been pressurized as skymet has also predicted that the southwest monsoon would be normal this year. Expiry date of annual quantitative restrictions of Imports is also dampened the sentiments.

The government is the biggest stockholder of pulses at this point in time and regular offloading is affecting the sentiment of the trade due to which traders were not keen on taking any risk. Purchase was reported as per requirement and stockists were out of market even at lower existing prices.

The government of Maharashtra will soon restart tur procurement which was stopped in some key regions of the state due to shortage of storage space. Procurement was stopped in Amravati, Buldhana and Akola regions of the state since the warehouses were already full with pulses procured during the previous season.

Technically, Tur Akola Bilty - Trend is down as and sideways movement is being witnessed. The band of movement is between 4675 and 3900. Breakout and close above 4675 can trigger a pullback and can mark a reversal. Support will be around 3900 and resistance is around 4675. Conclusion: Sideways movement is being witnessed within a band of 4675-3900. Directional movement is awaited.

Technically, Lemon Tur Mumbai Spot : Rally can resume on breakout above 4125 closing. Correction 3550-3500 can be used for accumulation. Support is at 3500. Deeper slide is below 3500 for 3100. Conclusion: Correction is likely to be seen before moving higher. Accumulate at lower level or wait for breakout.

NAFED Procures (Kharif 2017-18) 712181.17 MT Tur As On 11 April At MSP Prices Of Rs 5450. Maharashtra:222888.99, Gujarat:22892.30, Karnataka:335499.88, Andhra Pradesh:55600, Telangana:75300.

In Kanpur, Maharashtra origin (Hinghanghat/Nagpur), tur dal new Phatka Sortex quality priced lower by Rs 50-75 at Rs 5,650-5,675, new semi-Sortex at Rs 5,550-5,575, new regular variety at Rs 5,450-5,475 respectively as sellers were active in the market. Trade activities were reported negligible from wholesalers and retailers.

Gujarat origin Wasat Phatka variety new quoted flat on weak undertone at Rs 6,200-6,400/100Kg. Latur origin new Phatka variety also remained unchanged at Rs 5,800-5,900/100kg. Jalna origin new phatka variety also priced steady at Rs 6,000-6,200/100Kg.

Burma Urad:
In Mumbai, new crop of Burma urad FAQ variety remained weak by Rs 25 to Rs 3,800/100Kg amid availability of adequate stock on the back of fresh arrivals of rabi domestic crop in Andhra Pradesh/ Tamil Nadu.

Millers and traders were purchasing domestic urad from Madhya Pradesh, Rajasthan and Uttar Pradesh as they were getting superior quality stocks at cheaper rates.

Liquidation of procured stock by government agencies such as Nafed/FCI at lower prices has exerted pressure.

Moreover, lacklustre demand in processed Urad from retailers and wholesalers kept the sentiments weak in the commodity. Bikaner origin branded Urad dal price offered at Rs 4,600-4,900/100Kg. Tiranga brand of Mumbai at Rs 5,700/100Kg. Parivar brand of Jalgaon at Rs 5,150/100Kg.

Similarly, at Chennai, Urad FAQ and SQ variety also ruled weak at Rs 4,250/100Kg and Rs 4,800 respectively.

NAFED Procures (Rabi 2018) 2656.90 MT Urad As On 11 April At MSP Prices Of Rs 5400. Telangana:431. Andhra Pradesh:2225.90.

NAFED Procures (Kharif 2017) 276589.03 MT Urad As 6 April At MSP Prices Of Rs 5400, West Bengal:6440.73, Gujarat:19550.58, Maharashtra:58663.95, Uttar Pradesh:22578.29, Rajasthan:130855.44, Telangana:11717.05, Karnataka:13183, Andhra Pradesh:13600.

Chana Kantewala (Indore):
At Indore market, Chana prices fell by Rs 100 at Rs 3,550/100Kg amid sluggish demand from dal mills.

Increased domestic arrivals in local market also pressurised the sentiment. The central agency NAFED has started procurement in the select states at MSP. As per reports, procurement centres operated in a sluggish manner and very less compare to bumper crop.

Many farmers prefer to offload their commodity in the open market at rates lower than MSP as agency were purchasing select good quality chana from farmers.

Concerned over declining chana prices in the physical market and losses being incurred by small-time traders and farmers on account of falling prices, the association had urged the government to exempt chana from future trading keeping in view the excessive domestic production.

Despite spread between Chana and White pea has reduced the prices has remained subdued. The domestic demand in recent years had shifted to White Pea from Chana due to cheaper rates.

Similarly, Australia origin Chana at Mumbai and Mundra ports remained weak by Rs 100-150 each at Rs 3,600/100Kg and Rs 3,650, respectively on slack buying and weak cues from futures.

At National Commodity and Derivatives Exchange (NCDEX), chana for May contract settled lower 0.8 per cent or Rs.30 at Rs.3,680/100Kgs. Earlier in the day, the contract hit a low of Rs.3,665 and touched a high of Rs.3,722 per quintal.

Chana stocks at NCDEX accredited warehouses stood at 7,793 metric tonnes as on 13th April, up from 7,372 metric tonnes in the previous session, the exchange data showed. Akola:6,865, Bikaner 736, Jaipur 192.

Technically, NCDEX Chana May Contract : Expect Lower Range To Be Tested. The trend is down. Hold short positions with a stop loss of 3760. Expect lower range of 3630 – 3590 to be tested.

NAFED Procures (Rabi 2017-18) 228194.689 MT Chana As On 11 April At MSP Prices Of Rs 4400. Telangana:50000.050(Target completed on 10.04.2018), Karnataka:99743.264, Andhra Pradesh:43134.050, Maharashtra:13922.776, Rajasthan:21394.549.

Australian chana dal offered lower by Rs 200 at Rs 4,350/100 Kg amid negligible trade activity. Similarly, domestic chana dal of Pistol brand remained weak at Rs 4,500, Samrat brand at Rs 5,000 and Angel brand at Rs 4,800. While, Chana besan priced flat at Rs 2,820/50Kg. Vatana besan traded unchanged at Rs 2,020/50 Kg and Vatana dal at Rs 3,550.

At Rayalaseema, new kabuli chana count 85-90 and Coc-2 variety remained weak by Rs 150 at Rs.4,400/100Kgs in loose and Rs.4,500/100Kgs for spot loading. Similarly, it offered steady at Rs.5,100/100Kgs for Delhi delivery. Maharashtra origin Kabuli chana also offered unchanged at Rs 4,700/100Kg for Delhi delivery. In Maharashtra, the commodity traded flat at Rs 4,000-4,300/100Kg as per quality.

Kabuli Chana of 42-44 and 44-46 counts declined by Rs.50 each to Rs 7,150/100Kgs and Rs 6,900 respectively at Indore amid negligible demand from stockists and exporters along with better inflow.

Kabuli Chana dollar variety traded flat at Rs.5,500-6,400/100Kgs at Indore on slow trade and regular arrivals.

Imported Masoor (Mumbai):
Canada origin crimson variety masoor along with Australia nugget variety drifted down by Rs 100/100Kg in Mumbai amid subdued millers' buying support at higher rates, arrivals of new domestic crop and sufficient availability of imported stock.

Canada crimson variety masoor in container fell by Rs 100 at Rs 3,750-3,850/100Kg. Old Canada masoor of vessel perth/Dolphin masoor also declined by Rs 100 at Rs 3,550-3,650. No stock of Canada masoor old crop (2016) in tender was reported.

Similarly, Australia Masoor quoted lower by Rs 150 at Rs 3,900-4,000/100Kg for limited stock.

Demand in processed Masoor also reported slack from consumption centres at higher rates. Canada Masoor dal of Bhiwandi mills offered flat at Rs 4,500/100Kgs, for APMC Vashi market delivery.

In forward business, Canada crimson variety masoor offered at $440 per ton in container on CNF basis Nhava- Sheva For May-June shipment. Australia nugget variety masoor offered at $465 per ton in container on CNF basis Nhava- Sheva For April-May shipment.

Imported White Pea (Mumbai):
Canada, Ukraine and Russia origin White Pea at Mumbai traded lower by Rs 100-150 at Rs 3,150-3,175/100Kgs, 3,000 and Rs 3,025 respectively amid subdued local buying at higher rates.

Indian importers have done few deals to import the White Pea from Ukraine at $285 (CNF) due to parity. Vessel M V TANAIS DREAM carrying 30000 tonnes of Ukraine White Pea is expected to arrive at Kolkata port on April 18.

Moreover, business activities in Matar dal and besan were reported slack at higher rates from consumption centres.



Moong (Jaipur):
Moong priced flat at Rs 5,200/100Kg in Jaipur market during the last week on limited millers buying at higher rates.

Similarly, Moong dal prices also priced steady at Rs 6,400-6,500/100Kg as per quality.

Moong has been rallying since the past fortnight with due to decline in sowing area of summer crop on account of water crisis and also dried up fresh arrivals.

According to market sources, prices of moong is unlikely to sustain at higher rates due to adequate stock and also new moong is expected to began in Sundervan of Bengal within fortnight, Cuttack origin moong from April month end. However, yield of Cuttack origin moong is expected to be low due to weather concern. Arrivals of summer crop moong are expected to begin from May-June in Madhya Pradesh, Uttar Pradesh, Gujarat and Bihar.

Nafed is active for sale of Moong in Maharashtra, Karnataka, Madhya Pradesh, Andhra Pradesh and Telangana at higher rates.

(By Commoditiescontrol Bureau; +91-22-40015513)