MUMBAI (Commoditiescontrol) – Urad was among the major beneficiary this week ended Saturday (July 23-28) followed by matar and tur, while moong was the major loser along with masoor and chana. Business activity in pulses market during the week has been mostly subdued mainly due to transporters' strike, which has disrupted entire trade as millers were unable to get raw material to continue daily operations and unable to dispatch processed pulses to desired destinations as loading and unloading of goods couldn’t took place amid truckers' strike.
Weekly Highlights
# Kharif pulses sowing in the country as on July 27, 2018 dropped 8.73% to 103.35 lakh hectares versus 113.24 lakh hectares same period a year ago.
# India April-May pulses import dropped sharply 80% to 1.99 lakh tonnes versus 10.16 lakh tonnes last year.
# India pulses buffer stock as on July 16 at 10.07 lakh tonnes: Tur: 9.5LT, Urad: 0.32LT & Moong: 0.25LT
# IMD: India receives 403.2mm of rainfall so far this season, down 3% from 415.3 of normal
# IMD: Most of the states receives normal to excess rainfall, while rainfall deficient in Uttar Pradesh, Jharkhand, Bihar with most north-east states.
Burma Urad (Mumbai)
Burma urad rose nearly 5% to 3,700/100kg at the key Mumbai market due to better demand against thin supply followed by slow pace of sowing in the country and good demand in processed urad from consumption centres.
Demand in processed Urad was reported strong as pipeline has turned mostly dry as loading and unloading of pulses almost stopped amid eight days of truckers' strike. Bikaner origin branded Urad dal at Mumbai market rose nearly 4%, or Rs 200 week-on-week at Rs 4,950-5,250/100Kg. Tiranga brand of Mumbai also surged by Rs 50 at Rs 5,400/100Kg. Parivar brand of Jalgaon firmed by Rs 200 at Rs 5,200/100Kg.
At Chennai, Urad SQ declined by Rs 150 at Rs 4,600/100Kg in ready delivery as per condition amid slow millers' buying and ongoing delivery of Urad containers at Chennai port from Burma. While, FAQ variety remained flat at Rs 3,600.
Urad FAQ and SQ variety both surged around 5.5%, or Rs 150-200 to at Rs 3,600/100Kg and Rs 4,850, respectively.
Prices were also received good support after government directed Nafed not to liquidate urad stock for next 15 days and to review disposal based on sown area and market rates after a fortnight amid fall in kharif acreage.
According to market sources, prices of urad are likely to get support at lower rates in the long-term amid concerns over acreage/area under the crop as sowing may shift to Moong due to higher MSP.
Nafed has procured around 0.87 lakh tonnes of urad this rabi season as on July 3 from Andhra Pradesh, Tamil Nadu, Odisha, Telangana.
Canada White Pea (Mumbai):
Canada white peas (matar) edged up by 2.3%, or Rs 100 at Rs 4,400/100kg at the Mumbai pulses market this week ended Saturday as supply remained tight amid negligible imports and slow selling by stockists.
Canada White Pea priced firm at Mundra and Hajira at Rs 4,300/100kg and Rs 4,351 respectively. Russia origin Baltic variety gained at Rs 4,221 in Mundra. Ukraine White Pea priced at Rs 4,221 at Mundra.
Sellers are not interested to liquidate the good quality pulse amid depleting stock of imported white pea, increase in consumption as compared to chana and slow supply pressure from overseas.
Meanwhile, demand in Matar dal/besan has been good at prevailing rates.
India domestic matar consumption is estimated over 35 lakh tonnes and mostly met through imports, whereas supply has been restricted due to higher import duty followed by quantitative restrictions put by the government.
India's matar consumption is huge against present supply and thus prices are expected to remain strong ahead.
Burma Lemon Tur (Mumbai):
Tur Lemon variety of Burma origin rose by Rs 50 at Rs 3,550 amid good demand against slow arrivals of domestic tur at the trading terminals. Supply was very much remain restricted due to transporters' strike.
In Mumbai, Mozambique origin red and white tur priced at Rs 3,051/100Kg and Rs 3,425, respectively amid limited trade.
Slow pace of sowing of kharif tur in the key producing belts has also helped the prices in the domestic market, while imported tur is coming at very dull pace as Nafed is selling procured tur at much lower than MSP rates.
According to recent data available on Nafed website, it has liquidated around 380 metric tonnes of tur on July 24 between Rs 3,526-3,566/100kg in Telangana and Andhra Pradesh state.
Domestic tur in bilty trade at Akola traded higher by Rs 75 at Rs 4,075/100Kg due to good millers' buying activity as sale counter in Tur dal is expected to improve, which has been hurt by truckers' strike this week.
Tur price is expected to get good support as prices of vegetable have turned costlier due to truckers' strike, which may lead to higher consumption of tur dal as it is available at affordable rates. However constant tur selling by Nafed at lower rates will keep upside limited.
In Kanpur, Maharashtra origin (Hinghanghat/Nagpur), tur dal Phatka Sortex quality quoted unchanged at Rs 5,850, new semi-Sortex at Rs 5,750, new regular variety at Rs 5,650 respectively.
In Kanpur, Maharashtra origin (Hinghanghat/Nagpur), tur dal Phatka Sortex quality quoted down at Rs 5,750, new semi-Sortex at Rs 5,650, new regular variety at Rs 5,550 respectively.
Latur origin Phatka variety ruled unchanged at Rs 5,850/100Kg for Mumbai delivery. Jalna origin phatka variety at Rs 6,100/100Kg for Mumbai delivery. Khamgaon origin phatka variety also remained steady at Rs 5,850/100Kg for Mumbai delivery. Gujarat origin Wasat Phatka variety spot offered stable at Rs 6,100-6,400/100Kg, but no trade was reported due to dispute.
India kharif tur sowing in the country as on July 27 dropped 4.40% to 35.05 lakh hectares as against 36.66 lakh hectares same period last year. (Full Report)
Moong (Jaipur)
Moong prices remained weak for the third straight week by Rs 200 at Rs 4,800/100Kg as per quality in Jaipur market on slack buying at higher rates amid good increase in sowing.
However, moong dal remained mostly flat at Rs 6,400/100Kg as per quality as demand was said to be good from consumption centres amid restricted supply on truckers' strike.
Meanwhile, government agencies are also active to sale their procured stock in Rajasthan, Madhya Pradesh, Andhra Pradesh, Karnataka and Maharashtra.
The main reason behind fall in moong prices was said to be expectations of sharp increase in acreage this season as government has increased MSP by 25.11% to Rs 6,975/100kg.
Moong acreage in the country as on July 27 stood at 27.45 lakh hectares, up 3.69% from 26.47 lakh hectares a year ago. (Full Report)
NAFED Procures (Rabi 2018) 3679.78 MT Moong as on 1 July At MSP Prices Of Rs 5575. Andhra Pradesh:1604.054 (Procurement period completed on 25.06.2018), Odisha: 2075.72.
Imported Masoor (Mumbai):
Canada origin masoor in Container along with Australia Masoor slipped by Rs 100-200/100Kg amid slow millers' buying despite negligible supply from overseas with thin arrivals of domestic crop.
Sellers have showed little interest in liquidating the pulse at existing prices, however prices in the long run are expected to trade bullish as supply is limited due to negligible imports and likely improvement in demand ahead.
Canada crimson variety masoor in container moved down by Rs 100 at Rs 3,700-3,800/100Kg. While Canada masoor in vessel priced lower by Rs 100-150 at Rs 3,700-3,800. Stock of Canada masoor old in vessel was low and offered as per quality.
Australia Masoor nugget variety weakened by Rs 200 at Rs 3,900-4,000/100Kg as per quality against limited stock.
However, demand in processed Masoor was reported limited from consumption centers.
Rajathan Chana (Delhi)
Chana prices this week witnessed range-bound movement with closing slightly lower against last week as business activity was hurt by report earlier last week that Nafed will liquidate chana procured this season, which has sent spot and futures sharply down, however later on it pared some losses after news that Nafed is expected to sell chana after October at MSP.
Nafed has procured around 28 lakh tonnes of chana from rabi crop season 2017-18.
Australia origin Chana in ready business at Mundra was weak by Rs 50 at Rs 4,300/100kg. Similarly, the pulse declined by Rs 100 at Rs 4,200 in Mumbai. Quality of commodity in Mumbai was reported average. MMTC were active in selling procured chana at Mundra port.
Chana August futures this week dropped 2.82% to settle at Rs 4,164/100kg on the National Commodity & Derivatives Exchange Ltd (NCDEX). The contract traded within range of Rs 4,021 to Rs 4,352.
Chana stocks at NCDEX accredited warehouses stood at 59,152 metric tonnes as on July 27, down from 62,935 metric tonnes in the previous week, the exchange data showed. Akola:58,745, Bikaner 2,287, Jaipur 1,903.
At Mumbai market, Australia chana dal along with Pistol and Angel was flat at Rs 5,550/100kg, Rs 5,250 and Rs 5,550 respectively. Chana besan also remained steady at Rs 3,150/100kg. Likewise, Vatana Besana and Vatana Dal also priced unchanged at Rs 2,700 and Rs 4,950.
According to market sources, now buying at dips is ideal strategy as sentiment is likely to remain upbeat in the coming days amid low domestic arrivals and firm trend in White Pea due to shortage of stock and absence of active sellers.
Prices have been rising due to reduction in imports as government had put quantitative restrictions and higher import duty on Chana and White Pea to raise domestic prices of pulses in a bid to support farmers.
Earlier consumption of white Pea was better compared to chana due to its low prices and ample stock, but scenario has changed as consumption demand shifted to chana due to shortage of white Pea.
(By Commoditiescontrol Bureau; +91-22-40015533)
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