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Weekly: Urad/Moong Gain Most This Week; Masoor Slips

17 Aug 2019 7:02 pm
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MUMBAI (Commoditiescontrol) – Tur, Urad, Chana, Kabuli Chana, Moong and White Pea moved higher on week ended Saturday (Aug 12-17) due to millers trade activity due to expectation on rise in consumption during festive period from mid august till diwali. While, Masoor prices slipped on fresh overseas supply. On other hand, Green pea prices stayed steady on limited trade volume.

Moreover, further depreciation of Rupee from current level will also make import costlier.

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

Week Highlights

# India Kharif Pulses Sowing Down 3.51 % As On Aug 16 At 120.94 Lakh Ha Vs 125.34 Last Year. Tur : 42.17 Vs 42.14, Urad : 33.80 Vs 36.04, Moong : 29.09 Vs 32.34, Other Pulses: 15.67 Vs 14.46.

Burma Lemon Tur:

Tur Lemon variety of Burma origin gained by Rs 50 to Rs 5,350/100Kg in Mumbai amid buying support from mills and negligible domestic arrivals.

Similarly, domestic tur in bilty trade at Akola also traded higher by Rs 50 at Rs 6,025-6,050/100Kg.

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

In Burma, around 500 MT of Tur Lemon Old (2017- 2018) was traded at $640 per metric ton on FOB basis for India within fortnight shipment. As per local Burma based trader, pulses cargo will be loaded for India in direct vessel on 18th August for Nhava-Sheva/Chennai.

Mozambique/Malawi Tur red traded between $580-590 per metric ton and Mozambique Tur white in range of $620-625 per metric ton. Supply likely to come from August end-September 1st week.

As per market talk, Tur prices are likely to get support from current level as stock of old Tur in Burma is depleting and now importers have to switch into new Tur which is at $715 per metric ton on CNF basis. So, landed prices of new Tur in exchanges are at around Rs 5,250-5,300/100Kg.

Either importer will not import as there is no viability or alternatively domestic Tur prices should move from current levels. So, import becomes viable.

Further market trend of Tur will depend on pace of import and trend in currency. If there is shortfall in imports of Tur as per allocated quantity issued by government to millers and also if there is further depreciation of Rupee from current level, there may be sharp rise in Tur prices ahead.

As per seasonal trend also, normally Tur prices rule firm in month from August to October.

Latur origin new Phatka variety traded flat 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).

Burma Urad:

Burma Urad FAQ old variety moved higher by Rs 25 to Rs 4,525/100Kg at the Mumbai market because of millers buying support and limited ready stock of imported Urad. On other hand, Urad FAQ new variety priced at Rs 4,625.

Moreover, prices are likely to get support due to rain in Urad producing, which are likely to affect standing pulses crops of Urad, resulting in lower yield and degradation in quality.

Moreover, further depreciation of Rupee from current level will also make import costlier.

In Chennai, Urad SQ/FAQ old variety traded higher by Rs 100-150 each at Rs 4,600-4,625/100Kg and Rs 5,775-5,800, respectively in ready delivery as per condition.

Urad New FAQ/SQ variety traded at Rs 4,850-4,875/100Kg and Rs 5,950-5,975, respectively in ready delivery as per condition.

Demand for processed urad also witnessed good from consumption centers.

In Burma, Urad FAQ Variety (2019) was traded at $498 per metric ton on FOB basis for India within fortnight shipment. Total 1000 MT of Urad was traded. As per local Burma based trader, pulses cargo will be load for India in direct vessel on 18th August for Nhava-Sheva/Chennai.

Bikaner origin branded Urad dal traded higher at Rs 6,000-6,200/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,650/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,1500/100Kg for spot.

Chana Kantewala (Indore):

New Chana traded firm by Rs 25 at Rs 4,325-4,350/100Kg in Indore on millers buying activities and less domestic arrivals.

Chana prices also got support as Nafed is not selling old procured Chana.

Moreover, actual demand in chana dal and besan from consumption centres was reported. But, still activity was slow only for immediate requirement due to liquidity crunch and government holding major stock of Chana.

Meanwhile, consumption demand has shifted to chana/kabuli chana from white pea due to cheaper rates and easy availability of Chana/Kabuli Chana.

Australia origin Chana in ready business at Mumbai gained by Rs 50 at Rs 4,250/100kg. Burma origin chana also moved up by Rs 50 at Rs 4,200/100Kg.

Chana for September delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.4 percent or Rs 16 at Rs 4,304/100kg. Earlier, in the day, the contract hovered in the range of 4,303 and 4,349 on Friday.

Chana stocks at NCDEX accredited warehouses stood at 97436 metric tonnes (Indore: 192, Bikaner 70,305, Jaipur 26,939) as on 15th August, up from 97426 metric tonnes in the previous session, the exchange data showed.

Australian chana dal remained flat at Rs 5,300/100 Kg for spot on limited demand. Domestic chana dal of Pistol brand also ruled unchanged 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 3,200/50 Kg and Vatana dal at Rs 5,850.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana moved higher each by Rs 50-75 at Rs 4,150/100Kg, Rs 4,325, Rs 4,200 and Rs 4,350, respectively.

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.

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 both vessel/container along with Australia Masoor declined by Rs 25-50/100Kg at Mumbai due to upcoming fresh supply, dull millers trade activity, cash crunch and availability of imported stock.

Canada origin red Masoor in vessel/container new fell by Rs 25-50 at Rs 3,900/100Kg and Rs 4,100, respectively.

Similarly, Australia origin red Masoor also dropped by Rs 50 to Rs 4,200/100Kg 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 $415 per ton in container on CNF basis JNPT for Sept-Oct shipment.

Vessel M V Medi Astoria carrying about 30500 tonnes of Canada Masoor is expected to arrive soon at Mundra port, according to a shipping agency.

Vessel M V Kennadi carrying about 38255 tonnes of Canada Masoor is expected to arrive at Mundra port on 21 August, 2019, according to a shipping agency.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea ruled firm by Rs 50/100Kg in Mumbai due to shortage of ready stock and better buying support from local and outstation traders/millers.

Canada and Ukraine White Pea gained each by Rs 50 at Rs 5,181/100Kg and Rs 5,081, respectively.

Vessel M V Aventicum carrying about 33300 tonnes of Canada White Pea is expected to arrive soon at Mundra port, according to a shipping agency.

However, demand in matar dal/besan was limited at prevailing rates.

But gains may be capped as 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 moved higher by Rs 200 at Rs 6,100-6,400/100Kg as per quality at Jaipur market amid millers trade activity.

Moreover, prices are likely to get support due to rain in moong producing, which are likely to affect standing pulses crops of Moong, resulting in lower yield and degradation in quality.

In Delhi, Madhya Pradesh origin summer crop Moong traded at Rs 6,100-6,300/100Kg as per quality. Kanpur origin at Rs 6,100, Allahabad origin at Rs 6,400/100Kg.

Arrivals of new Kharif Moong in Karnataka had increased. But, quality of new moong is reported to have moisture content of around 20-25%, dagi and discoloured.

Demand and sale counter in processed moong was witnessed good.

Moong dal prices traded higher by Rs 200 at Rs 7,500-7,600/100Kg, depending on the variety.

Moong for September delivery on National Commodity and Derivatives Exchange (NCDEX), was ended firm by 0.6% or Rs 35 at Rs 6,260/100kg. Earlier, in the day, the contract hovered in the range of 6,248 and 6,287 on Friday.

Import of Moong is likely to fall short of the specified quota. Import licences covering 1.5 lakh tonnes have been issued; but traders are unable to source all the quantity and may be able to get supply around 40,000-45,000 tonnes from overseas.

Mozambique Moong traded between $725-740 per metric ton, Tanzania Moong in range of $730-760 per metric ton and Brazil polished Moong at $850-900 per metric ton. Africa may be able to supply a maximum of 25,000-30,000 tonnes, Brazil around 2,000-2,500 tonnes and Argentina-Australia around 3,000-5,000 tonnes.

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

Canada Green Pea (Mumbai):

Canada origin Green pea priced unchanged at Rs 6,800/100Kg at Mumbai amid limited buying activity.

Regular supply from overseas, availability of sufficient stock at Mumbai cold storages and godowns will presurise the sentiments.

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


       
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