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MUMBAI (Commoditiescontrol) – Tur, Chana, Kabuli Chana (Indore), White Pea and Green pea traded firm week ended Saturday (July 22-27) amid some millers trading activity as per immediate requirement. While, Urad and Masoor prices remained weak on slack buying. On other hand, Moong prices ruled steady to firm due to limited activity.
However, trade activity was reported slow due to liquidity crunch, slow demand in processed pulses from Wholesalers/retailers counters and also arrivals of monsoon in Kharif pulses sowing areas. Delayed, deficient and scattered monsoon is wrecking the kharif crop and yield will almost certainly be affected. Survival of crops has been affected hugely by dry spells and scattered rain. Progress in rain will be beneficial for Tur crop. But, rain at harvesting period will damage quality of Moong/Urad crop.
Week Highlights
# India Kharif Pulses Sowing Down 18.58 % As On July 26 At 82.92 Lakh Ha Vs 101.84 Last Year. Tur : 29.58 Vs 34.57, Urad : 26.15 Vs 28.97, Moong : 20.48 Vs 27.20, Other Pulses: 6.56 Vs 10.75.
# India Gets 35% Below-Average Monsoon Rains In The Week Ended July 24; Overall Deficiency Widens To 19%.
# Exports of White Pea from Russia declined 49 percent in May month versus the previous April month. Exports for the May month reached 28,836 MT, down from 56,283 MT in the previous April month. This lifted export sales so far during the marketing year to 204,631, down 62% from last year.
# Exports of Chickpea from Russia rose 65 percent in June month versus the previous May month. Exports for the June month reached 41,970 MT, up from 25,399 MT in the previous May month. Export sales so far totalled 141,644 MT, versus 26,099 in the same period last calendar year.
Burma Lemon Tur:
Tur Lemon variety of Burma origin traded firm by Rs 50 to Rs 5,350/100Kg in Mumbai amid millers trade activity at lower rates and negligible domestic arrivals. However, trade volume was reported thin as per immediate requirement due to cash crunch and sowing progress.
Prices of raw Tur are not sustained at higher rates as demand and sale counters in processed Tur reported slow. Small millers/traders were active to liquidate their stock at every rise.
Moreover, rainfall in Tur producing areas of Maharashtra (Vidarbha) was reported and it is considered beneficial for Tur standing crop.
Domestic tur in bilty trade at Akola also traded higher by Rs 125 at Rs 5,975-6,000/100Kg.
At Burma, Tur prices offered higher amid hike in container freight from Yangon to India (Nhava Sheva/Chennai). Earlier container freight charges was around $15/ton and now it is increase to $30/ton and likely to be more increase to $40/ton. But, no trade was reported from India. Indian buyers were interested to purchase at lower rates.
Statewise Kharif Tur Sowing Down 14.43 % As On July 24 Vs Last Yr (LAKH HA). Karnataka:6.4 V/s 8.77, Maharashtra:10.13 V/s 10.52, Uttar Pradesh:2.23 V/s 2.05, Gujarat:1.51 V/s 2, Madhya Pradesh:3.65 V/s 4.44, Telangana:2.28 V/s 2.36, Andhra Pradesh:0.27 V/s 0.77, Chhattisgarh:0.55 V/s 0.75, Total:29.58 V/s 34.57.
Latur origin new Phatka variety traded at Rs 8,400-8,600/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,800-9,100/100Kg, Khamgaon origin new Phatka variety at Rs 8,250-8,450/100Kg (spot), Jalna origin new phatka variety at Rs 8,500-8,800/100Kg (spot) and Solapur origin new phatka variety at Rs 8,300-8,500/100Kg (Spot).
Prices of Tur may fluctuate as per monsoon/sowing progress and also on imports from overseas.
Burma Urad:
Burma Urad FAQ variety declined by Rs 50 to Rs 4,400/100Kg at the Mumbai market as buyers were not interested to purchase at higher rates due to cash crunch and slow demand for processed Urad.
However, millers were active at lower rates for immediate crushing requirement due to limited imported ready stock and delay in overseas supply.
In Chennai, Urad SQ variety traded weak by Rs 50 at Rs 5,425-5,450/100Kg in ready delivery as per condition. While, FAQ variety ruled flat at Rs 4,400/100Kg.
Bikaner origin branded Urad dal ruled at Rs 5,850-6,050/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,600/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,000/100Kg for spot.
Statewise Kharif Urad Sowing Down 9.73 % As On July 24 Vs Last Yr (LAKH HA). Maharashtra:2.5 V/s 2.97, Karnataka:0.52 V/s 0.82, Rajasthan:4.46 V/s 4.11, Madhya Pradesh:11.83 V/s 13.95, Uttar Pradesh:4.43 V/s 4.17, Gujarat:0.53 V/s 0.7, Telangana:0.21 V/s 0.22, Andhra Pradesh:0.04 V/s 0.11, Tamil Nadu:0.05 V/s 0.11, Uttrakhand:0.22 V/s 0.24, Total:26.15 V/s 28.97.
Fears of lower output due to decline in kharif sowing area may provide some support to the prices at lower rates. But not much gain is likely due to sufficient availability of stock in domestic markets coupled with carry over stocks in Burma.
Chana Kantewala (Indore):
New Chana moved higher by Rs 125 at Rs 4,325/100Kg in Indore following firm cues from futures, millers buying support and less domestic arrivals.
Chana prices also got support as Nafed is not selling old procured Chana at lower rates. Lower bids have also been rejected by Nafed recently.
Traders/millers are facing difficulty in getting Chana from markets and hence, they had bid to purchase Nafed Chana even at higher rates for immediate crushing. As per market sources, Nafed has passed Chana tender in some centers of Madhya Pradesh at Rs 4,411/100Kg. But, other charge from Nafed godown to mills will cost higher compare to ready market prices.
However, trade activity was also slow in Chana dal/besan as per immediate requirement due to cash crunch.
On other hand, Australia origin Chana in ready business at Mumbai remained unchanged at Rs 4,200/100kg amid thin activity, average quality supply and also due to very limited availability of stock.
Burma origin chana also ruled flat at Rs 4,150/100Kg.
Chana for August delivery on National Commodity and Derivatives Exchange (NCDEX), settled higher by 0.5 percent or Rs 23 at Rs 4,315/100kg. Earlier, in the day, the contract hovered in the range of 4,268 and 4,328 on Friday.
Chana stocks at NCDEX accredited warehouses stood at 101111 metric tonnes (Indore: 192, Bikaner 73,980, Jaipur 26,939) as on 25th July, up from 101100 metric tonnes in the previous session, the exchange data showed.
Australian chana dal traded at Rs 5,300/100 Kg for spot on thin demand. Domestic chana dal of Pistol brand also ruled steady at Rs 5,500 for Spot, Angel brand at Rs 5,700 for Spot, Samrat brand at Rs 5,800 for Spot. Chana besan at Rs 3,150/50Kg. On other hand, Vatana besan moved higher at Rs 3,050/50 Kg and Vatana dal at Rs 5,525 following firm trend in White Pea.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded each at Rs 4,150/100Kg, Rs 4,275, Rs 4,150 and Rs 4,300, respectively.
Kabuli chana of 40-42, 42-44 and 44-46 counts traded higher by Rs 250 at Rs 6,050/100Kg, Rs 5,850 and Rs 5,650, respectively at Indore market amid decreasing arrivals and also sellers were not active at lower rates. Stockiest were bearing heavy losses and they had purchase earlier at higher rates.
In forward business, Russia Kabuli Chickpea offered at $400 per ton in container on CNF basis JNPT for ready shipment.
As per market talk, buying in Chana prices are likely to increase with rise in consumption demand in the festive season from August till Diwali. Prices will also get support due to less import of yellow pea, which acts as substitute in the Chana flour.
Imported Masoor (Mumbai):
Canada origin Masoor in both vessel/container along with Australia Masoor remained weak by Rs 50/100Kg at Mumbai due to cash crunch, dull millers trade activity, regular imports and availability of imported stock.
Canada origin red Masoor in vessel/container new priced weak by Rs 50 at Rs 3,925/100Kg and Rs 4,000, respectively.
Similarly, Australia origin red Masoor also fell by Rs 50 to Rs 4,100/100Kg against limited stock.
Moreover, demand in processed masoor from consumption centres was reported thin. Canada Masoor dal Khopoli spot traded at Rs 5,000-5,050/100Kg.
In forward business, Canada crimson variety masoor new offered at $445 per ton in container on CNF basis JNPT for July-Aug shipment.
Imported White Pea (Mumbai):
Canada and Ukraine origin White Pea moved higher for second straight week in Mumbai because of better buying support from local and outstation traders/millers amid lower imported stock in Mumbai as the government has not yet released the quota for millers to import White Pea and also will not issue advance licences for import.
Canada White Pea gained by Rs 125 at Rs 5,000/100Kg. Ukraine origin White Pea rose by Rs 150 to Rs 4,900.
Moreover, demand in matar dal/besan was good at prevailing rates following firm trend in White Pea.
But gains may be capped due to fresh supply from Vessel M V LEO carrying about 54613 tonnes of Canada White Pea, which is expected to arrive at Mundra port on 29 July, 2019. Also, crushing in Chana/Kabuli Chana has increased due to cheaper prices and easy availability compared to White Pea.
In forward business, Canada origin White Pea offered at $325 per ton in container on CNF basis JNPT for July-Aug shipment.
Moong (Jaipur):
Moong prices ruled steady to firm at Rs 5,800-6,100/100Kg as per quality at Jaipur market amid limited millers trade activity. Nafed were active to liquidate old procured crop (2017) in Rajasthan.
Moong dal prices traded unchanged at Rs 7,400-7,500/100Kg, depending on the variety.
However, demand and sale counter in processed moong was witnessed limited at higher rates.
In Delhi, Madhya Pradesh origin summer crop Moong traded at Rs 6,050/100Kg as per quality. Kanpur origin at Rs 6,100-6,150, Allahabad/Rachi origin at Rs 6,350/100Kg.
Arrivals of new kharif Moong was reported in Gadag market of Karnataka. In mahurat trade, pulse was traded at Rs 7,631/100Kg with arrivals of 2 bags. Arrivals will pick pace from mid of August.
However, crop is expected to be 50% lower due to deficiency in pre-monsoon rainfall, delayed monsoon and uneven spread of rainfall across the state. Quality and yield might be affected, as per local trader.
Moong for August delivery on National Commodity and Derivatives Exchange (NCDEX), was ended firm by 0.3 percent or Rs 16 at Rs 6,356/100kg. Earlier, in the day, the contract hovered in the range of 6,320 and 6,370 on Friday.
Moreover, lower output, decreasing stock with Nafed will supported the prices. Major stock of Moong were witnessed in Rajasthan.
Statewise Kharif Mung Sowing Down 24.71 % As On July 24 Vs Last Yr (LAKH HA). Karnataka:2.18 V/s 3.84, Maharashtra:2.74 V/s 3.39, Rajasthan:11.87 V/s 15.86, Madhya Pradesh:1.25 V/s 1.55, Uttar Pradesh:0.61 V/s 0.39, Gujarat:0.27 V/s 0.22, Tamil Nadu:0.07 V/s 0.11, Andhra Pradesh:0.02 V/s 0.08, Odisha:0.57 V/s 0.69, Telangana:0.53 V/s 0.66. Total:20.48 V/s 27.2.
NAFED has successfully procured 25965.14 MT of Moong in Rabi 2019 season at Minimum Support Price of Rs 6,975 as on July 21, 2019.Tamil Nadu: 5383.89, Andhra Pradesh:12429.05, Gujarat:2066.15, Odisha:6086.05.
Canada Green Pea (Mumbai):
Canada origin Green pea moved higher by Rs 200 at Rs 6,800/100Kg at Mumbai amid fresh buying support at lower rates.
However, regular supply from overseas, availability of sufficient stock at Mumbai cold storages and godowns will limit the gains.
(By Commoditiescontrol Bureau; +91-22-40015513)
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