Weekly: Selective Pulses Extend Fall On Lacklustre Demand

MUMBAI (Commoditiescontrol) – Selected pulses, such as Tur, Urad, Masoor and Moong prices declined for the week ended Saturday (April 16-21) amid sluggish buying support as enquiries in processed pulses were reported lacklustre. While, Chana and White Pea remained flat amid slow trade activity.

Pulses prices movement is likely to depend much on government policies due to election year and monsoon updates in June month. Stockists and bulk buyers were on the sideline due to tight liquidity.

Week Highlights

#Madhya Pradesh Government Buys 23,897 MT Chana, 5,468 MT Masoor As On April 20 At MSP.
#Government Planning To Buy Pulses For Buffer Stock Procured By Nafed. Out Of 20.5 LT Buffer Stock Procured Since Oct 16, Government Sold 7.9 LT As On Apr 16, Leaving Stock Of 12.6 LT.
# Maharashtra: No Online Tur Registration From April 18.
# India Apr-Feb (2017-18) Pulses Export Rises Over 18% At 1.34 Lakh Tonne Vs 1.13 LT Last Year.
#Many Markets In Khandesh On Strike For Action Against Traders Buying Foodgrains Below MSP.
# Monsoon 2018: IMD Forecasts Normal Rainfall, At 97% Of LPA.



Burma Lemon Tur:
Tur Lemon variety of Burma origin tur extended losses by Rs 50 at Rs 3,775/100kg due to sluggish trade activity as enquiries in tur dal were reported lacklustre because of ongoing mango season, hot weather and fresh supply in containers from Tanzania and Sudan.

Normal monsoon forecast by IMD, ample carry-over stock, holding by government and also selling below MSP, higher output and ongoing domestic arrivals have added to bearish sentiments.

Similarly, domestic new tur in bilty trade at Akola ruled weak by Rs 25-50 to Rs 4,075-4,100/100Kg.

Procurement centres in Karnataka have stopped purchasing tur at MSP prices. Farmers are still having 4 lakh tonnes of unsold tur stock due to the lack of demand.The state government has again urged the Centre to further increase the purchase of tur to 5 lakh tonnes. However, the government restricted it to 3.64 lakh tonnes.

NAFED Procures (Kharif 2017-18) 740413.65 MT Tur As On 17 April At MSP Prices Of Rs 5450. Maharashtra:243798.79, Gujarat:30214.99, 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 5,600, new semi-Sortex at Rs 5,500, new regular variety at Rs 5,400 respectively as sellers were active in the market. Trade activities were reported negligible from wholesalers and retailers.

Latur origin new Phatka variety declined by Rs 150 at Rs 5,550-5,750/100kg. Similarly, Gujarat origin Wasat Phatka variety new quoted lower by Rs 100 at Rs 6,000-6,200/100Kg. Jalna origin new phatka variety also priced weak at Rs 5,800-6,100/100Kg.

Burma Urad:
In Mumbai, new crop of Burma urad FAQ variety weakened further by Rs 150 to Rs 3,650/100Kg 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 also 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 4,500-4,800/100Kg. Tiranga brand of Mumbai at Rs 5,500/100Kg.Parivar brand of Jalgaon at Rs 5,150/100Kg.

Similarly, at Chennai, Urad FAQ and SQ variety also ruled weak by Rs 100-150 at Rs 4,150/100Kg and Rs 4,700, respectively.

NAFED Procures (Rabi 2018) 5285.391 MT Urad As On 13 April At MSP Prices Of Rs 5400. Telangana:681.800, Andhra Pradesh:4590.80, Tamil Nadu:12.79.

Chana Kantewala (Indore):

At Indore market, Chana prices remained unchanged at Rs 3,525-3,550/100Kg amid slow trade activity from dal mills as demand in Chana dal and besan were negligible.

Procurement of Chana by the government agencies at MSP is underway but they were procuring only select FAQ quality from farmers in local markets of major states. Arrival of average quality in local markets have dented the sentiments.

NAFED Procures (Rabi 2017-18) 270376.558 MT Chana As On 16 April At MSP Prices Of Rs 4400. Karnataka:102001.864, Andhra Pradesh:62176.250, Maharashtra:17749.892, Rajasthan:38448.502, Telangana:50000.050 (Target completed on 10.04.2018).

Similarly, Australia origin Chana at Mumbai and Mundra ports remained flat each at Rs 3,625/100Kg on thin buying.

At National Commodity and Derivatives Exchange (NCDEX), chana for May contract settled higher 0.8 per cent or Rs.29 at Rs.3,668/100Kgs. Earlier in the day, the contract hit a low of Rs.3,639 and touched a high of Rs.3,698 per quintal.

Chana stocks at NCDEX accredited warehouses stood at 15,815 metric tonnes as on 20th April, up from 13,408 metric tonnes in the previous session, the exchange data showed. Akola:11960, Bikaner 3008, Jaipur 847.

Technically, for NCDEX Chana May Contract, the trend is down but a short covering is expected now. Cover any short positions on dips to 3630 – 3610 levels or below as the opportunity arises. Wait for any fresh positions for the time-being.

Australian chana dal offered lower by Rs 100 at Rs 4,200/100 Kg amid slack trade activity. Similarly, domestic chana dal of Pistol brand remained weak at Rs 4,400, Samrat brand at Rs 4,900 and Angel brand at Rs 4,700. Chana besan also priced lower at Rs 2,770/50Kg. On other hand, Vatana besan traded unchanged at Rs 2,020/50 Kg and Vatana dal at Rs 3,550.

Kabuli Chana of 42-44 and 44-46 counts declined by Rs.100 each to Rs 6,850/100Kgs and Rs 6,600 respectively at Indore amid negligible demand from stockists and exporters despite reducing arrivals.

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

Imported Masoor (Mumbai):
Canada origin crimson variety masoor both in Container and Vessel remained weak in Mumbai amid subdued millers' buying support at higher rates and arrivals of new domestic crop.

Canada crimson variety masoor in container fell by Rs 50 at Rs 3,700-3,800/100Kg. Old Canada masoor of vessel also declined by Rs 50 at Rs 3,500-3,600.

On the other hand, Australia Masoor quoted unchanged at Rs 3,900-4,000/100Kg for limited stock.

Procurement of Masoor had already begun by the government agencies at MSP, but they were procuring only select quality from farmers in local markets of Madhya Pradesh and Uttar Pradesh.

Demand in processed Masoor was also reported slack from consumption centres at higher rates. Canada Masoor dal of Bhiwandi mills offered weak by Rs 75 at Rs 4,351/100Kgs, 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 $460 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 flat at Rs 3,175-3,250/100Kgs, 3,051 and Rs 3,021, respectively amid limited buying activity and regular supply in container at Kolkata from producing countries.

Upcoming fresh supply in break bulk vessel M V TANAIS DREAM carrying 30000 tonnes from Ukraine is likley within a week at Kolkata port.

Canada White Pea of around 10-12 months old, held by besan millers traded at Rs 3,175/100Kg, While superior quality of around 5-6 months old was traded at Rs 3,250/100Kg.

Russia and Ukraine origin White Pea traded in the range of Rs 3,050-3,150/100Kg as per quality.

Buyers have turned cautious at higher rates as Indian importers have done few deals to import the White Pea from Ukraine due to parity.

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

Moong (Jaipur):
Moong prices quoted lower by Rs 200 at Rs 4,90000/100Kg in Jaipur market during the week on subdued millers buying at higher rates and adequate stock. Also, new moong arrival in Sundervan of Bengal and Cuttack is expected to begin from April-end, which also weighed on prices.

Arrivals of summer crop moong are expected to begin from May-June in Madhya Pradesh, Uttar Pradesh, Gujarat and Bihar.

Similarly, Moong dal prices also priced lower by Rs 200 at Rs 6,200-6,300/100Kg as per quality.

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

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