Weekly: Urad, Tur Post Strong Gains; White/Green Pea Plunges

MUMBAI (Commoditiescontrol) – Tur, Urad, Chana and Masoor moved up during the week ended Saturday (October 29- November 03) amid buying support from mills. While, White Pea and Green Pea remained weak on slackened trade activity. On the other hand, Moong ruled flat due to limited demand.

Week Highlights

# India Rabi Pulse Sowing down by 10.29 % as on November 2 to 32.07 lakh Ha vs 35.75 last year at the same period. Chana: 22 Vs 25.94, Masoor: 3.09 Vs 4.17, Matar: 2.44 Vs 2.66, Urad: 0.67 Vs 0.69, Moong: 0.25 Vs 0.11, Other Pulses:0.56 Vs 0.59.
# Maharashtra Govt Procures Around 1123 Metric Tonnes Of Urad/Moong At MSP. Moong : 658.18 metric tonnes, Urad: 465.19 metric tonnes.




Burma Lemon Tur:

Tur Lemon variety of Burma origin gained by Rs 450 to Rs 4,050/100Kg at Mumbai amid improved buying support from mills due to cheaper prices.

Similarly, at Mumbai, Mozambique origin red and white tur traded higher by Rs 300-400 at Rs 3,600/100Kg and Rs 3,800, respectively amid better trade activity. New Mozambique origin red and white tur also moved up to Rs 3,800-4,000/100Kg.

Domestic tur in bilty trade at Akola also rose by Rs 450 at Rs 4,450-4,500/100Kg on good buying support.

Tur prices were supported due to concerns about crop in some key producing areas of Maharashtra, Karnataka and Telangana. But, cheaper imports and stocks left with government agencies are likely to limit the gains.

Amid dry weather and expectation of lower output compared to last year, millers are aggressively buying pulses from Nafed anticipating rise in prices in the new season. Consistent depleting of stock with Nafed may also support prices in coming days.

As per market view, government should hold stock rather than liquidating it into the market amid concerns of crop losses in the wake of prevailing drought like conditions in key producing regions.”

Demand and sale counters in processed tur were also witnessed amid the ongoing festive period and empty retail pipeline. Major markets will remain closed next week due to Diwali festival.

Latur origin Phatka variety traded higher by Rs 400-500 at Rs 6,100-6,300/100Kg for Mumbai delivery on better trade activity. Khamgaon origin phatka variety also gained to Rs 6,100/100Kg, Jalna origin phatka variety at Rs 6,400-6,700/100Kg. Gujarat origin Wasat Phatka variety also priced firm at Rs 6,400-6,800/100Kg (Mumbai Delivery).


Burma Urad:

Burma urad FAQ variety rose sharply by Rs 250 at Rs 4,500/100Kg in Mumbai due to better buying support from mills due to better quality supply, compared to new domestic urad and shortage of ready imported stock in Mumbai.

According to market sources, prices are likely to get further support ahead due to dry weather, reduced sowing in major states and not much carry over stock left with government/ private traders and particularly tight availability of good quality urad.

Moreover, prices of urad may also be supported at existing prices ahead as major markets will remain closed next week for Diwali, resulting in a disruption in supply.

Similarly in Chennai, Urad FAQ/SQ new traded higher by Rs 200-250 each at Rs 4,400/100Kg and Rs 5,450, respectively in ready delivery as per condition amid better buying by mills despite regular supply from overseas. In forward business, Urad FAQ/SQ also gained at Rs 4,450/100Kg and Rs 5,500, respectively for mid November-mid december delivery.

Meanwhile, the Madras High Court has extended further the date of hearing to November 9 on a plea challenging the DGFT notification to restrict import.

Demand in processed Urad remained good from consumption centres. Bikaner origin branded Urad dal traded higher at Rs 5,900-6,300/100Kg for Mumbai delivery, Tiranga brand of Mumbai at Rs 6,500/100Kg for Mumbai delivery and Parivar brand of Jalgaon at Rs 6,300/100Kg for Mumbai delivery.

Chana Kantewala (Indore):

At Indore market, Chana traded firm by Rs 50-75 at Rs 4,100-4,125/100Kg amid fresh millers' demand at lower rates. However, demand and sale counters in processed chana/ besan were still thin.

Nafed activeness in liquidating procured stock at existing prices also capped upside.

Prices are likely to get support at lower rates as demand is expected due to ongoing festive period followed by restriction on matar/chana imports and also on dry weather concerns.

Meanwhile, chana sowing was down by 15.19 % as on November 2 to 22 lakh hectare vs 25.94 during the same period last year.

Similarly, Australia origin Chana in ready business at Mumbai and Mundra port moved up by Rs 200 at Rs 4,200/100kg and Rs 4,250, respectively.

Similarly, Burma origin chana gained by Rs 200 at Rs 4,200/100Kg on millers' buying.

At National Commodity and Derivatives Exchange (NCDEX), Chana benchmark November contract settled higher 1 per cent or Rs 39 at Rs.4,043/100Kgs on Friday.

Chana stocks at NCDEX accredited warehouses stood at 27,647 metric tonnes (Akola: 27,597, Bikaner 20, Jaipur 30) as on 2nd November, down 27,677 metric tonnes from the previous session, the exchange data showed.

While, Australian chana dal traded unchanged at Rs 5,150/100 Kg for Mumbai delivery amid slow trading volume. Similarly, domestic chana dal of Pistol brand offered steady at Rs 5,300 for Mumbai delivery, Samrat brand at Rs 5,700 for Mumbai delivery, Angel brand at Rs 5,600 for Mumbai delivery. Chana besan also remained steady at Rs 3,100/50Kg, Vatana besan traded flat at Rs 2,920/50 Kg and Vatana dal at Rs 5,300.

In Mumbai, Sudan and Burma origin kabuli gained by Rs 100-150 at Rs 4,100/100Kg and Rs 4,350, respectively amid fresh buying support from besan flour millers.

Kabuli chana of 42-44 and 44-46 counts remained unchanged at Rs 5,900/100Kg and Rs 5,700, respectively at Indore market on the absence of local buying support.

Kabuli Chana dollar variety at Indore priced lower at Rs.4,700-5,400/100Kgs as per quality at Indore.

The long term outlook will very much depend on rabi crop sowing, which has begun, but pace will increase only after Diwali.

Imported Masoor (Mumbai):

Canada origin masoor in Vessel and Container gained by Rs 50-100/100Kg in Mumbai amid fresh buying support from mills at lower rates and also on cheaper prices compared to Tur. While, Australia masoor in container ruled flat.

Meanwhile, masoor sowing was down by 25.90 % as on November 2 to 3.09 lakh hectare vs 4.17 during the same period last year.

However, recent supply in break bulk vessel from Canada at Mumbai port, selling of procured Masoor by Nafed in Madhya Pradesh/Uttar Pradesh and upcoming supply from Canada are likely to limit the gains. Demand in processed masoor remained also thin from consumption centres.

Canada crimson variety masoor in vessel gained by Rs 125 to Rs 3,650-3,775/100Kg. Canada masoor in container also moved up by Rs 75 at Rs 3,825-3,925.

MMTC were active in selling procured old Canada masoor stock steady at Rs 3,400/100Kg in Mumbai.

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

Demand in processed Masoor remained thin from consumption centres. Canada Masoor Khopoli spot eased at Rs 4,800/100Kg.

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 remained weak by Rs 50-100/100Kg as per quality due to slackened trade at existing rates.

Meanwhile, White Pea sowing was down by 8.27 % as on November 2 to 2.44 lakh hectare vs 2.66 during the same period last year.

Canada White Pea traded at Rs 4,600/100Kg at Mumbai, Rs 4,350-4,450 at Mundra and Rs 4,400 at Hajira port. Russia origin Baltic variety quoted at Rs 4,300 in Mundra. Ukraine White Pea ruled at Rs 4,550 at Mumbai and at Rs 4,400 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 the ongoing festival season.

Moong (Jaipur):

Moong prices traded flat at Rs 5,200-5,400/100Kg as per quality at Jaipur market amid routine buying by the mills against the ongoing arrivals.

Demand and sale counters in processed moong remained limited at existing rates. Moong dal prices also traded flat at Rs 6,500/100Kg depending on the variety.

As per market talk, prices of moong are likely to get support at existing prices ahead as major market will remain closed next week for Diwali, resulting in a disruption in supply.

Farmers in Rajasthan are purchasing good quality moong from producing centres and selling it to the government agency at higher MSP.

Millers were also active in buying good quality pulse as better trading activities were seen in processed Moong amid the ongoing festive season.

However, government agency is still not active in purchasing big quantity moong at MSP in Rajasthan.

Canada Green Pea (Mumbai):

Canada origin green pea at Mumbai declined for the third straight week by Rs 200 at Rs 6,800/100Kg (cleaned) and Rs 6,700/100Kg (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)