Weekly: Moong Gains Most This Week; Chana/Kabuli Chana Extend Losses

MUMBAI (Commoditiescontrol) – Chana, Kabuli chickpea along with White and Green Pea declined during the week ended Saturday (October 15-20) amid dull millers trade activity owing to limited sale counters in processed pulses. While, Moong and Urad prices traded firm on millers demand. On the other hand, Tur and Masoor ruled unchanged due to thin trade volume.

The business activity in the market remained lacklustre due to liquidity crunch. The circulation of payment is now very slow between buyers and sellers.

Week Highlights
# Canada Matar 2018-19 Vs 2017-18 (LT). Open Stock:6.5 Vs 3, Output:37.3 Vs 41.1, Export:28 Vs 30.9, Domestic Use:9.01 Vs 6.9, End Stock:7 Vs 6.5, Price ($/MT): 230-260 Vs 365.
# Canada Masoor 2018-19 Vs 2017-18 (LT). Open Stock:8.8 Vs 3.1, Output:22.30 Vs 25.59, Export: 19 Vs 15.4, Domestic Use:4.9 Vs 4.9, End Stock:7.5 Vs 8.8, Price ($/MT):350-380 Vs 475.



Burma Lemon Tur:

Tur Lemon variety of Burma origin remained unchanged at Rs 3,300/100Kg at Mumbai amid slow enquiries from mills despite cheaper prices. Overall sentiments are still bearish due to supply from overseas at cheaper prices. Sufficient stock of domestic tur is still lying with government to cater consumption demand ahead for two months before arrivals of new crop.

Similarly, at Mumbai, Mozambique origin red and white tur offered steady at Rs 3,051/100Kg and Rs 3,300, respectively amid dull trade activity. New Mozambique origin red and white tur quoted stable at Rs 3,200-3,525/100Kg.

On the other hand, domestic tur in bilty trade at Akola traded higher by Rs 100 at Rs 3,850-3,875/100Kg on some lower level buying support.

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.

Demand and sales counters in Tur dal remained slow as per requirement. Latur origin Phatka variety ruled unchanged at Rs 5,600/100Kg for Mumbai delivery on negligible trade activity.

Similarly, Khamgaon origin phatka variety at Rs 5,550/100Kg, Gujarat origin Wasat Phatka variety at Rs 6,000-6,300/100Kg and Jalna origin phatka variety at Rs 5,800/100Kg (Mumbai Delivery).

Tur prices may find support ahead on concerns about crop in some key producing areas of Maharashtra and Karnataka.

According to traders, “Immediate rain is required at some producing belts of domestic tur in Maharashtra (Marathwada) and Karnataka (Bijapur/Gulbarga) as growth of crop had been stopped due to heat. Yield will be get affected sharply if rain does not arrive on time.”


Burma Urad:

Burma urad FAQ variety ruled firm by Rs 25 at Rs 3,825/100Kg in Mumbai due to fresh buying support from mills at lower rates due to better quality supply, compared to new domestic urad.

Similarly in Chennai, Urad FAQ/SQ new traded higher by Rs 100 each at Rs 3,650/100Kg and Rs 4,650, respectively in ready delivery as per condition. However, sellers also remained active in the market at every rise amid regular supply from overseas.

Meanwhile, the Madras High Court has given relief to the petitioner and further extended a stay order till October 22 against DGFT notification to restrict import.

Domestic arrivals in major states and regular shipments from Burma may limit the gains. Another 1,200 containers are expected to arrive soon at Chennai port.

Moreover, demand in processed Urad was reported to be 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 5,500/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 5,400/100Kg for Mumbai delivery.

Urad price is expected to trade positive in long term due to lower crop in the country, particularly tight availability of good quality urad.

Chana Kantewala (Indore):

At Indore market, Chana prices traded lower for the second straight week by Rs 50 at Rs 4,025/100Kg amid weak futures and dull millers' demand due to limited sale counters in processed chana/ besan.

Millers are not buying chana for stocking due to ample crop availability with Nafed, which it is selling at prevailing rates through e-Auction.

Although any sharp fall in prices is unlikely as most of the stock is now left with Nafed followed by restriction on matar and chana imports.

Australia origin Chana in ready business at Mumbai and Mundra port remained weak by Rs 75-100 each at Rs 4,000/100kg and Rs 4,075, respectively. However quality of the pulse available in Mumbai for trade was reported to be average.

Similarly, Burma origin chana traded lower by Rs 150 at Rs 4,050/100Kg on thin millers' buying.

At National Commodity and Derivatives Exchange (NCDEX), Chana benchmark November contract settled lower 0.5 per cent or Rs 20 at Rs.4,112/100Kgs on Friday.

Chana stocks at NCDEX accredited warehouses stood at 28,550 metric tonnes (Akola: 28,147, Bikaner 81, Jaipur 322) as on 19th October, similar from the previous session, the exchange data showed.

Australian chana dal traded at Rs 5,150/100 Kg for Mumbai delivery amid limited buying activity. Similarly, domestic chana dal of Pistol brand weak by Rs 50 at Rs 5,300 for Mumbai delivery, Samrat brand down by Rs 100 at Rs 5,700 for Mumbai delivery, Angel brand fell by Rs 100 at Rs 5,600 for Mumbai delivery. On other hand, Chana besan remained steady at Rs 3,100/50Kg, Vatana besan at Rs 2,961/50 Kg. While, Vatana dal moved up by Rs 200 at Rs 5,200.

In Mumbai, Sudan and Burma origin kabuli priced lower at Rs 4,050/100Kg and Rs 4,200, respectively amid dull buying support from besan flour millers.

Kabuli chana of 42-44 and 44-46 counts fell by Rs 50 to Rs 6,100/100Kg and Rs 5,900, respectively at Indore market on the absence of local buying support.

Kabuli Chana dollar variety priced flat at Rs.4,500-5,500/100Kgs as per quality at Indore.

The long term outlook will very much depend on rabi crop sowing, which is likely to start soon, but pace will increase only after Diwali.

Imported Masoor (Mumbai):

Canada origin masoor both Vessel and Containers along with Australia masoor in container eased in Mumbai amid dull millers' buying support, average quality supply coupled with fresh shipments from Canada at Mumbai port and also as government has not yet increased duty on import of Masoor.

Moreover, selling of procured Masoor by Nafed in Madhya Pradesh pressurised sentiments. Demand in processed masoor remained also thin from consumption centres.

Canada crimson variety masoor in vessel and container offered unchanged at Rs 3,650-3,750/100Kg and Rs 3,800-3,900, respectively.

Similarly, MMTC were active in selling procured old Canada masoor stock at Rs 3,500/100Kg in Mumbai.

Australia masoor nugget variety also ruled flat at Rs 4,000-4,100/100Kg as per quality against limited stock availability.

Demand in processed Masoor has reported slack from consumption centres. Canada Masoor Khopoli spot priced weak by Rs 50 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 slipped for the second straight week by Rs 50/100Kg as per quality due to slackened trade at higher rates.

Canada White Pea traded at Rs 4,650/100Kg at Mumbai, Rs 4,450-4,500 at Mundra and Rs 4,550 at Hajira port. Russia origin Baltic variety quoted at Rs 4,450 in Mundra. Ukraine White Pea ruled at Rs 4,550 at Mumbai and at Rs 4,500 at Mundra and Hajira.

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 ready stock.

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.

Moong (Jaipur):

Moong prices traded higher by Rs 200-300 at Rs 5,000-5,500/100Kg as per quality at Jaipur market on increased demand from mills and slower arrivals.

Demand and sale counters in processed moong remained good at existing rates. Moong dal prices also traded higher by Rs 200-300 at Rs 6,500-6,700/100Kg depending on the variety.

Moreover, mills were seen active in purchasing superior quality new moong from markets or from government at cheaper rates on expectation of festive demand.

Big farmers at major producing centres are bringing their produce slowly and in very low quantity at existing levels as government will start procurement soon at MSP. But, small farmers are not in a same position as they had already sold it.

Government agency still not active in purchasing big quantity moong at MSP price in Rajasthan.

Canada Green Pea (Mumbai):

Canada origin green pea at Mumbai declined by Rs 200 at Rs 7,200/100Kg (cleaned) and Rs 7,100/100Kg (uncleaned) as per quality amid dull buying at existing rates despite shortage of ready stock and no supply pressure from overseas.

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