Weekly: White Pea, Urad Remain Firm This Week; Other Pulses Soften

MUMBAI (Commoditiescontrol) – Urad and White Pea remained firm during the week ended Saturday (September 17-22) on millers' trade activity. While, Tur, Chana, Moong declined due to dull millers' buying support. On the other hand, Masoor traded flat amid limited activity.

Week Highlights

# India Kharif Pulses Sowing Down 1.11% As On September 19 At 137.93 Lakh Ha Vs 139.49 Last Year.Tur:45.83 Vs 45.56, Urad:40.37 Vs 44.35, Moong:34.36 Vs 31.99, Other Pulses:16.46 Vs 16.53.
# BSE/NSE Receives SEBI Approval To Launch Trading In Derivatives Segment From Oct 1. BSE/NSE Initially Likely To Focus Non-Farm Products Like Metals, Energy, Base Metals.
# Tamil Nadu 2018-19 First Advance Estimates Vs 2017-18 Final Est (IN LT).Urad: 0.28 Vs 0.52, Tur: 0.44 Vs 0.55.
# Madhya Pradesh 2018-19 First Advance Estimates Vs 2017-18 (IN LT). Urad: 17.25 Vs 17.44, Tur: 6.33 Vs 8.39.
# Rajasthan First Advance Estimates 2018-19 Vs 2017-18 (In LT) Moong: 12.09 Vs 9.76, Moth: 3.99 Vs 3.23, Urad: 4.96 Vs 5.24, Chaula: 0.74 Vs 0.38.
# Pulses Import At Chennai Port (Aug Vs Jul) In MT. Tur: 11640 Vs 7752, Urad: 23856 Vs 32184, Chana: 2352 Vs 0, Moong: 1488 Vs 0, Masoor: 360 Vs 864 Total: 40224 Vs 40800.
# Three States Tamil Nadu, Maharashtra, and Madhya Pradesh Interested In Buying Government’s Pulses Stock.
# Nafed To Start Tur Sale (e-Auction) In Maharashtra & Karnataka Procured During PSS Kharif 2017 From Sept 19. The Agency Procured 3.34 LT Tur In Maharashtra & 3.35 LT In Karnataka.




Burma Lemon Tur:

Tur Lemon variety of Burma origin declined for the second straight week by Rs 25 at Rs 3,325/100Kg at Mumbai market amid sluggish trading activities in the wake of limited enquiries in tur dal.

Similarly in Mumbai, Mozambique origin red and white tur quoted weak by Rs 50 each at Rs 3,050/100Kg and Rs 3,275, respectively amid slack millers' buying despite cheaper prices.

Domestic tur in bilty trade at Akola traded lower by Rs 50 at Rs 3,800-3,825/100Kg.

Meanwhile, millers instead of buying pulses from spot market are preferring to buy raw material from Nafed, which is available at competitive rates as Nafed is consistently liquidating tur below MSP.

Moreover, sentiments are still bearish owing to upcoming supply from overseas at cheaper prices.

Meanwhile, latest spell of rainfall in tur producing areas of Maharashtra and Karnataka is being considered beneficial for crop. New crop is likley to be harvested from December end- January.

Moreover, sufficient stock is still lying with overnment to cater consumption demand ahead for three months before arrivals of new crop. Private traders are also having some stock but they are bearing losses as they had procured at higher levels.

Latur origin Phatka variety priced lower by Rs 50 at Rs 5,600/100Kg for Mumbai delivery on sluggish buying activity. Likewise, Khamgaon origin phatka variety quoted lower by Rs 50 at Rs 5,600/100Kg and Gujarat origin Wasat Phatka variety down by Rs 100 at Rs 6,000-6,250/100Kg. While, Jalna origin phatka variety remained unchanged at Rs 5,900/100Kg (Mumbai Delivery).

Sowing Updates

Statewise Kharif Tur Sowing up 0.57% As On SEP 19 Vs Last Yr (LAKH HA). Maharashtra :12.34 Vs 12.74, Karnataka:9.92 Vs 8.79, Uttar Pradesh:3.46 Vs 3.36, Madhya Pradesh:6.35 Vs 6.47, Telangana:2.77 Vs 2.51.Total:45.83 Vs 45.56.


Burma Urad:

After sharp fall in the previous week at Mumbai, Burma urad FAQ variety traded firm by Rs 25 at Rs 3,625/100Kg on buying support from mills at lower rates.

However, ongoing arrivals of new domestic crop were witnessed in major states but quality was average. Latest spell of rain in Maharashtra, Madhya Pradesh, Uttar Pradesh and Rajasthan is likley to damage and also effect the quality of crop.

Prices were also supported as around 450 containers of imported urad, lying at the Chennai port were not cleared by customs.

Indian importers have earlier imported urad with a view that they will get the consignment cleared after Madras court has provided stay on DGFT decision to put restriction on matar imports.

The stay order is up to September 24 and thus decision to release or not to release consignment will become clear only after September 24.

According to traders, the country has already imported the fixed quantity of up to 1.5 lakh tonnes so far this year.

In Chennai, Urad SQ/FAQ new gained by Rs 100-150 each at Rs 4,450/100Kg and Rs 3,650, respectively in ready delivery as per condition. But, sellers were active in the market.

Sellers in Urad SQ quoted higher by Rs 100 at Rs 4,500/100Kg in forward business for Whole October delivery.

Moreover, demand in processed Urad remained thin from consumption centres. Bikaner origin branded Urad dal offered at Rs 5,100-5,400/100Kg for Mumbai delivery. Tiranga brand of Mumbai was at Rs 5,25/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 5,300/100Kg for Mumbai delivery.

Prices of urad will get support if cheaper imports will be capped by the government. In addition, reduced sowing in major states as farmers realised lower remuneration from the crop last season, erratic rainfall and concerns over acreage/area/quality are likely to lift prices to some extent.

Sowing Updates

Statewise Kharif Urad Sowing Down 8.97% As On SEP 19 Vs Last Yr (LAKH HA). Madhya Pradesh:16.52 Vs 17.89, Uttar Pradesh:6.88 Vs 5.96, Maharashtra:3.76 Vs 4.83, Rajasthan:4.72 Vs 5.4, Karnataka:0.84 Vs 1.3, Andhra Pradesh:0.18 vs 0.37, Total:40.37 Vs 44.35.


Chana Kantewala (Indore):

At Indore market, Chana prices traded unchanged at Rs 4,000/100Kg due to thin trade volume as market remained closed for couple of days during the week due to Muharram. The market remained also closed on Saturday due to heavy rain in last 17-18 hours.

On the other hand, Australia origin Chana in ready business at Mumbai and Mundra port fell by Rs 50-75 at Rs 3,950/100kg and Rs 4,000, respectively on slack millers' trade activity due to average quality supply and dull millers' activity as sale counters in processed chana and besan were limited.

Sentiments are still under pressure in the wake of selling of procured chana by Nafed in the range of Rs 4,000/100Kg depending on the quality in major states and imports of Kabuli chickpea from Sudan & Burma.

On the other hand, Burma origin chana traded flat at Rs 4,000/100Kg on limited millers' buying.

But demand is expected at lower rates in chana dal/besan due to shortage in white pea supply ahead of festive season.

At National Commodity and Derivatives Exchange (NCDEX), Chana October month contract settled weak by 1 per cent or Rs 41 at Rs.3,938/100Kgs on Friday.

Technically, for NCDEX Chana October Contract, cover short position at lower range of 3955-3914 as the opportunity arises. Expect higher range of 3996-4037 to be tested. Further weakness is below 3859 and till then lower if lower range is attained then cover short position.

Chana stocks at NCDEX accredited warehouses stood at 48,169 metric tonnes (Akola: 46792, Bikaner 653, Jaipur 724) as on 20th september, down 49,085 from the previous session, the exchange data showed.

Australian chana dal slipped down by Rs 50 at Rs 4,750/100 Kg for Mumbai delivery amid dull buying activity. Similarly, domestic chana dal of Pistol brand ruled weak by Rs 50 at Rs 5,100 for Mumbai delivery and Angel brand moved down by Rs 100 at Rs 5,500 for Mumbai delivery. While, Samrat brand offered steady at Rs 5,600 for Mumbai delivery. Similarly, Chana besan remained flat at Rs 2,990/50Kg, Vatana besan at Rs 2,711/50 Kg and Vatana dal steady at Rs 4,750.

In Mumbai, Sudan and Burma origin kabuli each fell by Rs 50 at Rs 3,950/100Kg and Rs 4,150, respectively on dull besan flour millers' buying.

On other hand, Kabuli chana of 42-44 and 44-46 counts gained by Rs 250/100Kg at Indore market on fresh buying at lower levels. Prices are likely to get support in the next few weeks amid onging festival season.

Kabuli Chana dollar variety ruled weak by Rs 100 at Rs.5,000-5,700/100Kgs as per quality at Indore.

Imported Masoor (Mumbai):

Canada origin masoor in both vessel and Container along with Australia masoor remained steady to firm in Mumbai on selective buying support from mills on hopes that the governement may raise the import duty on masoor to 100% from 30% to curb imports.

Moreover, import of pulses will become costlier as the Indian Rupee has weakened around 14 percent so far this year.

Canada crimson variety masoor in vessel and container traded at Rs 3,700-3,800/100Kg and Rs 3,800-3,900, respectively. Stock of Canada masoor old in vessel was low and offered as per quality. MMTC was active in selling procured old masoor stock at Rs 3,550/100Kg in Mumbai.

Similarly, Australia Masoor nugget variety also traded in the range at Rs 4,000-4,150/100Kg as per quality against limited stock.

As per market sources, upcoming supply of about 32,350 MT of Masoor from Canada in break bulk vessel Sea Breeze at Mumbai/Mundra port on 1st week of October coupled with selling of procured Masoor by Nafed in Madhya Pradesh will pressuirsed the prices in near future.

On the other hand, demand in processed Masoor was reported to be limited from consumption centres. Canada Masoor Khopoli spot ruled at Rs 4,750/100Kg.

Imported White Pea (Mumbai):

Canada origin white pea at Mumbai, Hajira and Mundra ports, Russia White Pea at Mundra port along with Ukraine White Pea at Mundra/Hajira ports gained for the second straight week by Rs 25-50/100Kg as per quality amid millers' buying support and shortage of ready stock.

Moreover, import of pulses will become costlier as so far this year, the Indian Rupee has weakened around 14 percent.

Canada White Pea traded at Rs 4,251/100Kg at Mumbai, Rs 4,025-4,125 at Mundra and Rs 4,100 at Hajira port. Russia origin Baltic variety quoted at Rs 4,050 in Mundra. Ukraine White Pea ruled at Rs 4,150 at Mumbai and at Rs 4,100 at Mundra and Hajira.

However, millers and traders are still preferring to purchase domestic chana or Sudan/Burma origin kabuli chickpea due to cheaper prices as compared to white pea and also amid shortage of white pea stock.

But millers who prefer to process only matar for crushing were active in purchasing due to better quality supply.

Moreover, demand in matar dal/besan remained slow at prevailing rates. But, prices are likely to get support in the next few weeks amid ongoing festival season.

Prices of White Pea will depend on government decision, whether it will extend import restriction for the next quarter till December or will allow import from overseas after September 30,2018.


Moong (Jaipur):

Moong prices traded lower by Rs 100-150 at Rs 4,700-4,850/100Kg as per quality at Jaipur market on dull millers' buying support from mills and on increased arrivals of new crop in Maharashtra, Karnataka, Telangana and Rajasthan.

Similarly, Moong dal prices remained weak by Rs 50 at Rs 6,100-6,200/100Kg depending on the quality.

Meanwhile, procurement of select quality new moong has begun at Gadag market at MSP of Rs 6,975/100Kg.

Procurement of moong from farmers at MSP is expected to begin from October in other major markets.

Arrival of new moong had started about a month ago in Karnataka, Telangana and Maharashtra but the government has not yet started procurement and hence, the farmers have sold out the large quantity in the market below MSP.

As per a Rajasthan based trader, yield of new moong crop is expected to remain lower against last year due to erratic rainfall despite higher acreage. Meanwhile, crop and quality is likley to be damaged due to latest spell of rain in Rajasthan.

But stockists are not interested to purchase moong as prices are unlikely to gain in future as crop is expected to remain bumper this year as compared to last year. Moreover, millers were seen active in need based buying for crushing purposes.

Sowing Updates

Statewise Kharif Moong Sowing UP 7.37% As On SEP 19 Vs Last Yr (LAKH HA). Rajasthan:19.23 Vs 15.70, Karnataka:4.23 Vs 3.67, Maharashtra:4.03 Vs 4.52, Madhya Pradesh:2.1 Vs 2.28, Uttar Pradesh:0.63/0.45, Telangana:0.73 Vs 0.89, Total:34.36 Vs 31.99.

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