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Weekly: Urad/Tur Gain Most This Week; White Pea Eases

10 Aug 2019 3:46 pm
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MUMBAI (Commoditiescontrol) – Tur, Urad, Chana, Masoor and Green pea remained firm on week ended Saturday (Aug 05-10) due to fresh millers trade activity at lower rates on immediate requirement for crushing. While, White Pea eased marginally on slack buying at higher rates. On other hand, Kabuli Chana and Moong prices stayed steady on thin trade volume.

Import of pulses will become costlier as Indian Rupee fell to its low of 70.98 Vs US Dollar this week.

Moreover, prices had got support due to heavy rains in Madhya Pradesh, Karnataka, Maharashtra, Chhattisgarh, Uttar Pradesh are likely to affect standing pulses crops of Urad/Moong. Crop may damage, reduce yield and affect quality under maturity stages.

As per market talk, buying in pulses are likely to increase at lower rates as trading much below MSP and also with rise in consumption demand in the festive season from August till Diwali.

However, demand for processed pulses was reported limited/only to meet immediate requirement due to cash crunch.

Week Highlights

# India Kharif Pulses Sowing Down 4.94 % As On Aug 8 At 115.39 Lakh Ha Vs 121.39 Last Year. Tur : 40.12 Vs 40.69, Urad : 32.58 Vs 34.52, Moong : 28.12 Vs 31.61, Other Pulses: 14.38 Vs 14.21.
# RBI Slashes Repo Rate By 0.35% To 5.4%; Maintains Accommodative Stance.
# Australia is likely to produce 3.66 lakh tonnes of chana (chickpea) during the year 2019-20 due to increase of 22 percent in acreage.
# Exports of Masoor from Canada rose 8.5 percent in July month versus the previous June month. Exports for the July month reached 197358 MT, up from 181842 MT in the previous June month.
# Australia is likely to produce 3.84 lakh tonnes of Masoor (Lentils) during the year 2019-20 despite decrease of 6 percent in acreage.
# Exports of Masoor from Australia rose 166 percent in July month versus the previous June month.Exports for the July month reached 73,232 MT, up from 27,577 MT in the previous June month.

Burma Lemon Tur:

Tur Lemon variety of Burma origin gained by Rs 75 to Rs 5,225-5,250/100Kg in Mumbai amid lower level buying support from mills, following some enquiries in domestic tur from interior market and less domestic arrivals.

Similarly, domestic tur in bilty trade at Akola also traded higher by Rs 100 at Rs 5,975-6,000/100Kg.

However, demand and sale counters in processed Tur were thin from wholesale/retail counters due to cash crunch.

Around 50-60 containers of Tur Lemon Old (2017- 2018) was traded at $620 per metric ton on FOB basis for India.

Statewise Kharif Tur Sowing Down 1.4 % As On Aug 7 Vs Last Yr (LAKH HA). Karnataka: 10.42 V/s 9.57, Maharashtra: 11.28 V/s 11.31, Uttar Pradesh: 2.96 V/s 2.95, Gujarat: 1.99 V/s 2.25, Madhya Pradesh: 4.8 V/s 5.62, Telangana: 2.65 V/s 2.64, Andhra Pradesh: 1.31 V/s 1.23, Chhattisgarh: 0.98 V/s 1.15, Total: 40.12 V/s 40.69.

Latur origin new Phatka variety ruled firm by Rs 50 at Rs 8,150-8,350/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,550-8,750/100Kg, Khamgaon origin new Phatka variety at Rs 8,050-8,250/100Kg (spot), Jalna origin new phatka variety at Rs 8,350-8,550/100Kg (spot) and Solapur origin new phatka variety at Rs 8,050-8,250/100Kg (Spot).

As per market talk, demand in Tur dal is expected at lower rates as retailers/wholesalers pipeline are empty. They remained active in purchasing as per immediate needs due to liquidity crunch. But, upcoming supply from Burma in near future, much needed rainfall in Tur producing areas (Maharashtra/Karnataka) and recovery in kharif sowing will limit the gains.

Prices of Tur will depend as per monsoon/sowing progress and also on imports from overseas.

Burma Urad:

Burma Urad FAQ variety moved higher by Rs 100 to Rs 4,400/100Kg at the Mumbai market because of millers buying support and limited ready stock of imported Urad.

Moreover, prices had got support due to heavy rains in Madhya Pradesh, Karnataka, Maharashtra, Chhattisgarh, Uttar Pradesh are likely to affect standing pulses crops of Urad. Crop may damage, reduce yield and affect quality under maturity stages.

In Chennai, Urad SQ/FAQ variety traded higher by Rs 75-100 each at Rs 4,400-4,425/100Kg and Rs 5,500-5,525, respectively in ready delivery as per condition.

In forward business, Urad FAQ/SQ variety new traded up at Rs 4,750-4,775/100Kg and Rs 5,775, respectively for next week delivery on buyers option.

Buyers from India were active in purchasing Urad FAQ variety at lower rates around $470-480 per metric ton on FOB basis but sellers were interested to sell at $490 per metric ton on FOB basis for India. But, no deal has yet been finalised in Urad due to difference between buyers and sellers quotes.

However, demand for processed urad remained limited from consumption centers.

Bikaner origin branded Urad dal traded firm by Rs 50 at Rs 5,850-6,050/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,500/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,000/100Kg for spot.

Statewise Kharif Urad Sowing Down 5.62 % As On Aug 7 Vs Last Yr (LAKH HA). Maharashtra: 2.8 V/s 3.35, Karnataka: 0.67 V/s 0.84, Rajasthan: 4.57 V/s 4.64, Madhya Pradesh: 14.93 V/s 15.21, Uttar Pradesh: 5.89 V/s 5.77, Gujarat: 0.7 V/s 1, Telangana: 0.21 V/s 0.23, Andhra Pradesh:0.06 V/s 0.13, Tamil Nadu: 0.08 V/s 0.22, Uttrakhand: 0.29 V/s 0.28, Total:32.58 V/s 34.52.

Upcoming supply from Burma in near future, sufficient availibility of domestic Urad and recovery in kharif sowing will limit the gains.

Chana Kantewala (Indore):

New Chana traded firm by Rs 100 at Rs 4,300-4,325/100Kg in Indore on millers buying activities as demand in Chana dal and besan was witnessed from consumption centers, less domestic arrivals.

On other hand, Australia origin Chana in ready business at Mumbai remained steady at Rs 4,200/100kg amid slow activity, average quality supply and also due to very limited availability of stock.

Burma origin chana declined by Rs 25 at Rs 4,150/100Kg.

Chana for August delivery on National Commodity and Derivatives Exchange (NCDEX), settled firm by 0.5 percent or Rs 22 at Rs 4,210/100kg. Earlier, in the day, the contract hovered in the range of 4,170 and 4,234 on Friday.

Chana stocks at NCDEX accredited warehouses stood at 101322 metric tonnes (Indore: 192, Bikaner 74,191, Jaipur 26,939) as on 8th August, similar to the previous session, the exchange data showed.

Australian chana dal gained by Rs 50 at Rs 5,300/100 Kg for spot on fersh demand. Domestic chana dal of Pistol brand also ruled higher at Rs 5,550 for Spot, Angel brand at Rs 5,750 for Spot, Samrat brand at Rs 5,850 for Spot. On other hand, Chana besan remained flat at Rs 3,120/50Kg, Vatana besan at Rs 3,160/50 Kg and Vatana dal at Rs 5,800.

In Mumbai, Sudan origin kabuli chana traded up by Rs 25 at Rs 4,250. While, Ethiopia and Burma origin declined by Rs 25-50 each at Rs 4,150/100Kg and Rs 4,300, respectively. On other hand, Russia Kabuli Chana priced flat at Rs 4,075.

Kabuli chana of 40-42, 42-44 and 44-46 counts remained steady at Rs 6,050/100Kg, Rs 5,850 and Rs 5,650, respectively at Indore market amid limited local buying and having sufficient stocks. 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 is likely to increase ahead with likely improvement in consumption demand during the festive period from mid August till Diwali. Prices will also get support due to less import of yellow pea and higher prices compared to Chana, which acts as substitute in the Chana flour.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel/container along with Australia Masoor moved up by Rs 25-50/100Kg at Mumbai due to millers buying support at lower rates and following firm trend in other pulses.

Canada origin red Masoor in vessel/container new gained by Rs 25 at Rs 3,925/100Kg and Rs 4,025, respectively.

Similarly, Australia origin red Masoor also rose by Rs 50 to Rs 4,150/100Kg 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 $410 per ton in container on CNF basis JNPT for Sept-Oct shipment.

Upcoming supplies around 50,000 MT Canada Masoor in near future from Vessel Medi Astoria and kennadi, ready stock of imported Masoor will limit the gains.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea declined by Rs 25/100Kg in Mumbai because of dull buying support from local and outstation traders/millers at higher rates due to cash crunch despite overall lower stock.

Canada and Ukraine White Pea fell each by Rs 25 at Rs 5,125/100Kg and Rs 5,025, respectively.

Meanwhile, Vessel M V LEO carrying about 54613 tonnes of Canada White Pea is discharging cargo at Mundra port.

Moreover, demand in matar dal/besan was thin at prevailing rates. 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 Aug-Sept shipment.

Moong (Jaipur):

Moong prices ruled steady at Rs 5,900-6,200/100Kg as per quality at Jaipur market amid limited millers trade activity. Nafed were active to liquidate old procured crop (2017) in Rajasthan.

In Delhi, Madhya Pradesh origin summer crop Moong traded at Rs 6,050/100Kg as per quality. Kanpur origin at Rs 6,000, Allahabad origin at Rs 6,300/100Kg.

Arrivals of new Kharif Moong traded weak at Gadag/Bagalkot market of Karnataka due to higher moisture quality arrivals.Quality of new moong content higher moisture around 21-25% due to continue rain from last one week.Arrivals will pick up pace from mid of August.

Earlier sowing of Moong in Raichur, Yadgir and Gulbarga market was reported less between 20-30% due to deficiency in pre-monsoon rainfall, delayed monsoon and uneven spread of rainfall across the state.

However, demand and sale counter in processed moong was witnessed slow at higher rates.

Moong dal prices traded unchanged at Rs 7,300-7,400/100Kg, depending on the variety.

Moong for August delivery on National Commodity and Derivatives Exchange (NCDEX), was ended tad lower or Rs 4 at Rs 6,270/100kg. Earlier, in the day, the contract hovered in the range of 6,251 and 6,310 on Friday.

Prices likely to get support due to heavy rains in Madhya Pradesh, Karnataka, Maharashtra, Chhattisgarh, Uttar Pradesh are likely to affect standing pulses crops of Moong. Crop may damage, reduce yield and affect quality under maturity stages.

Moreover, lower output, decreasing stock with Nafed will supported the prices. Major stock of Moong were witnessed in Rajasthan.

Statewise Kharif Mung Sowing Down 11.04 % As On Aug 7 Vs Last Yr (LAKH HA).Karnataka: 2.49 V/s 3.9, Maharashtra:3.09 V/s 3.71, Rajasthan:17.61 V/s 18.59, Madhya Pradesh: 1.7 V/s 1.86, Uttar Pradesh: 0.72 V/s 0.56, Gujarat: 0.36 V/s 0.49, Tamil Nadu: 0.08 V/s 0.11, Andhra Pradesh: 0.04 V/s 0.09, Odisha: 0.92 V/s 1.06, Telangana: 0.59 V/s 0.69, Total: 28.12 V/s 31.61.

Canada Green Pea (Mumbai):

Canada origin Green pea gained by Rs 100 at Rs 6,800/100Kg at Mumbai amid fresh buying activity at lower rates.

Moreover, import of pulses will become costlier as Indian Rupee fell to its low of 70.98 Vs US Dollar this week.

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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