MUMBAI (Commoditiescontrol) – Major pulses, such as Tur, Urad, White Pea, Chana, Masoor, Green and White Pea moved up during the week ended Saturday (September 24-29) on millers' trade activity.
Week Highlights
# Final Area Of 2018-19 Kharif Crops (First Adv Est) Vs 2017-18 (Lakh Ha). Tur: 45.41 Vs 44.31, Urad: 38.61 Vs 44.95, Moong: 32.65 Vs 32.86, Others:18.85 Vs 18.71.Total Pulses: 135.52 Vs 140.83.
# 450 Containers Of Burma Urad/Tur Cleared At Chennai Port Despite Restriction.
# India Govt Extends Quantitative Restrictions On Matar (including Yellow peas, Green peas, Dun peas and Kaspa peas) For Next 3 Month Till 31 Dec.
# Govt Approves Procurement Of Moong Sown In 2018-19 Kharif Season At MSP Of 6975/100Kg From Farmers In Karnataka (23000MT) and Tamil Nadu (5000MT). State Govt Will Soon Declare Procurement Date.
Burma Lemon Tur:
Tur Lemon variety of Burma origin gained by Rs 25 to Rs 3,350/100Kg at Mumbai amid millers buying due to cheaper prices.
Similarly in Mumbai, Mozambique origin red and white tur traded higher by Rs 50-75 each at Rs 3,075/100Kg and Rs 3,300, respectively amid buying support from mills. New Mozambique origin red and white tur also traded at Rs 3,300/100Kg and Rs 3,500, respectively.
Domestic tur in bilty trade at Akola moved up by Rs 25 at Rs 3,850-3,875/100Kg.
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.
Latur origin Phatka variety quoted firm by Rs 50 at Rs 5,650/100Kg for Mumbai delivery on lower level buying activity. Likewise, Gujarat origin Wasat Phatka variety rose by Rs 50 at Rs 6,000-6,300/100Kg. While, Khamgaon origin phatka variety remained unchanged at Rs 5,600/100Kg and Jalna origin phatka variety ruled flat at Rs 5,900/100Kg (Mumbai Delivery).
Moreover, sentiments are still bearish owing to upcoming supply from overseas at cheaper prices. Sufficient stock is still lying with government 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 it earlier at higher levels.
Burma Urad:
Burma urad FAQ variety gained by Rs 125 at Rs 3,850/100Kg in Mumbai due to improved buying support from mills due to better quality supply, compared to new domestic urad.
Prices also got support after Madras high court has extended the date of hearing for next 15 days on plea challenging the DGFT decision to restrict import.
In Chennai, Urad SQ new gained by Rs 200 at Rs 4,700/100Kg in ready delivery as per condition. But, sellers were active in the market.
Moreover, demand in processed Urad was reported to be good from consumption centres. Bikaner origin branded Urad dal offered at Rs 5,200-5,500/100Kg for Mumbai delivery. Tiranga brand of Mumbai was at Rs 5,550/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 5,400/100Kg for Mumbai delivery.
Meanwhile, shipments containing 450 containers of Burma Urad/Tur got clearance from customs on Saturday at Chennai port despite restrictions on imports.
As per market talk, prices are expected to remain under pressure if import of Urad continues at cheaper prices coupled with increase in new crop arrivals in the major states. Arrivals of new domestic crop continued at markets but quality was reported to be average, dagi and with moisture content. On the other hand, governement has not yet started procurement at MSP from farmers.
However, 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.
Chana Kantewala (Indore):
At Indore market, Chana prices traded higher by Rs 175-200 at Rs 4,200/100Kg amid firm cues from futures, buying support from mills as monthly demand is expected ahead during festive period, shortage in White Pea supply and after news that the Indin government extended quantitative restrictions on Matar for next 3 month till December 31.
Matar is close substitute of chana and extension of import restrictions may shift demand to chana to some extent.
Australia origin Chana in ready business at Mumbai and Mundra port moved up by Rs 175-200 each at Rs 4,100/100kg and Rs 4,125-4,150, respectively. However quality of the pulse available in Mumbai for trade was reported to be average.
On the other hand, Burma origin chana traded higher by Rs 100 at Rs 4,100/100Kg on millers' buying.
At National Commodity and Derivatives Exchange (NCDEX), Chana benchmark October contract settled higher by 1.3 per cent or Rs 54 at Rs.4,096/100Kgs on Friday.
Chana stocks at NCDEX accredited warehouses stood at 34,192 metric tonnes (Akola: 32905, Bikaner 583, Jaipur 704) as on 27th september, down 46,655 metric tonnes from the previous session, the exchange data showed.
Australian chana dal quoted higher by Rs 150 at Rs 4,900/100 Kg for Mumbai delivery amid further buying activity. Similarly, domestic chana dal of Pistol brand gained by Rs 150 at Rs 5,250 for Mumbai delivery, Angel brand at Rs 5,650 for Mumbai delivery and Samrat brand at Rs 5,700 for Mumbai delivery. Chana besan also moved up at Rs 3,100/50Kg, Vatana besan at Rs 2,811/50 Kg and Vatana dal at Rs 4,900.
In Mumbai, Sudan origin kabuli rose by Rs 150 at Rs 4,100/100Kg amid good buying support from besan flour millers, firm trend in Chana, better quality supply and competitive prices as compared to chana & white pea. Similarly, Kabuli chana of Burma traded higher by Rs 150 at Rs 4,300/100Kg.
On other hand, Kabuli chana of 42-44 and 44-46 counts declined by Rs 150/100Kg at Indore market on dull buying and increased arrivals.
Kabuli Chana dollar variety ruled firm by Rs 100 at Rs.5,000-5,800/100Kgs as per quality at Indore.
Imported Masoor (Mumbai):
Canada origin masoor in both vessel and Container along with Australia masoor gained by Rs 50-100/100Kg 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.
Canada crimson variety masoor in vessel and container traded at Rs 3,750-3,850/100Kg and Rs 3,900-4,000, 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 3,600/100Kg, up by Rs 50 in Mumbai.
Similarly, Australia Masoor nugget variety also traded higher at Rs 4,100-4,200/100Kg 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 3rd October coupled with selling of procured Masoor by Nafed in Madhya Pradesh may limit gains.
On the other hand, demand in processed Masoor was improved from consumption centres. Canada Masoor Khopoli spot gained by Rs 150 at Rs 4,900/100Kg.
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 third straight week by Rs 250/100Kg as per quality after Indian government extended import restrictions up to December-end from September 30.
Buying support from mills and shortage of ready stock also supported the prices.
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 4,500/100Kg at Mumbai, Rs 4,325-4,425 at Mundra and Rs 4,350-4,400 at Hajira port. Russia origin Baltic variety quoted at Rs 4,300 in Mundra. Ukraine White Pea ruled at Rs 4,425 at Mumbai and at Rs 4,375 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 further support in the next few weeks amid ongoing festival season.
Moong (Jaipur):
Moong prices traded firm by Rs 100 at Rs 4,600-4,900/100Kg as per quality at Jaipur market on buying support from mills despite ongoing new arrivals at major states.
Similarly, Moong dal prices remained flat at Rs 6,000-6,100/100Kg depending on the quality.
Arrivals of moong are likely to increase soon at local markets in Rajasthan amid expectations that new crop size may fall well short of the average, i.e. only 60-70% of normal, as per local trader. The quality of moong, which had sown before rain, was reported to be good. But, the quality of moong which had sown after rain, is likely to be average to somewhat discoloured.
While, crop in Jaipur/Ajmer belt (Kishangarh, kekri, Vijaynagar, Malpura and Tonk) was of dagi variety which traded in the range of Rs 1,500-2,500/100Kg.
On the other hand, quality of moong is reported to be better in Merta, Nagaur, Jaisalmer, Barmer and Sumerpur.
Meanwhile, Rajasthan state government has authorised co-operative societies to purchase moong at MSP with procurement is expected to start from 1st week of October. Government agencies will procure major portion of crop from farmers due to upcoming state's assembly election, while opting not to go for Bhavantar yojna scheme.
Millers were active in buying good quality new moong for crushing/polishing in the range of Rs 5,200-5,300. They are also buying the pulse, procured by the government agencies on expectation of festive demand.
Prices are unlikley to rise as government is active to liquidate old moong stock in the range of Rs 4,700-4,800/100Kg.
Canada Green Pea (Mumbai):
Canada origin green pea at Mumbai gained sharply at Rs 7,000/100Kg (cleaned) and Rs 6,700/100Kg (Uncleaned) after Indiann government extend import restrictions up to December-end from September 30.
(By Commoditiescontrol Bureau; +91-22-40015513)