MUMBAI (Commoditiescontrol) – Tur, Masoor and White Pea slipped during the week ended Saturday (Sep 3-7) due to sluggish millers trade activity, overseas supply, also demand for processed pulses was reported thin due to liquidity crunch. While, Chana, Kabuli Chana and Green Pea ruled firm on some fresh lower level buying support. On other hand, Urad and Moong prices almost unchanged on thin activity.
Week Highlights
# India Kharif Pulses Sowing Down 1.95 % As On Sep 6 At 130.04 Lakh Ha Vs 132.63 Last Year. Tur : 44.95 Vs 44.76, Urad : 37.52 Vs 38.18, Moong : 30.48 Vs 33.73, Other Pulses: 16.65 Vs 15.46.
# Maharashtra government will begin registration of farmers for soybean, moong and urad procurement at minimum support price (MSP) in the state from September 10.
# Govt Considering Making Aadhaar Mandatory For Farmers To Sell Crops At MSP.
# India Gets 2% Above-Average Monsoon Rains In The Week Ended Sept 4; Overall Surplus At 1%.
Burma Lemon Tur:
Tur Lemon variety of Burma origin continued to trade lower by Rs 150 to Rs 4,850/100Kg in Mumbai amid average quality fresh supply of old crop from Burma and also due to slow trade activity in the wake of cash crunch as demand and sale counters in processed Tur from wholesale/retail counters are still dull.
Moreover, market remained nervous amid apprehensions that Nafed will liquidate old procured stock in selective states. However, lower bids were rejected by Nafed.
Similarly, domestic tur in bilty trade at Akola also traded lower by Rs 150 at Rs 5,600-5,650/100Kg.
Recovery in acreage, further supply from overseas and regular sale by NAFED in open market and to the state agencies for the conversion are keeping a constant flow of supplies in the market, resulting in pressure on prices.
However, millers are uninterested to import Tur and preferring domestic Tur as imports of Tur from Burma are not viable.
Millers were active to liquidate their processed stock at lower rates bearing losses due to cash crunch and also unlikely to price rise in near futures.
Latur origin new Phatka variety also traded weak by Rs 150 at Rs 7,900-8,100/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,300-8,500/100Kg, Khamgaon origin new Phatka variety at Rs 7,700-7,900/100Kg (spot), Jalna origin new phatka variety at Rs 8,100-8,300/100Kg (spot) and Solapur origin new phatka variety at Rs 7,700-7,900/100Kg (Spot).
India 2019-20 State wise Kharif Tur Sowing Up 0.4 % As On Sep 4 Vs Last Yr (LAKH HA). Karnataka: 11.68 V/s 9.84, Maharashtra: 12.05 V/s 12.12, Uttar Pradesh: 3.5 V/s 3.47, Gujarat: 2.08 V/s 2.49, Madhya Pradesh: 5.06 V/s 6.25, Telangana:2.83 V/s 2.77, Andhra Pradesh: 2.11 V/s 1.98, Chhattisgarh: 1.23 V/s 1.29, Total: 44.95 V/s 44.76.
Prices of Tur likely to gets support at lower rates only if government holds the procured stock and not liquidate at lower rates in open markets and also if consumption demand rise during festive period. Still there is four month for arrivals of new domestic crop. Supply from overseas is slow as imports of Tur from overseas is not viable.
Burma Urad:
Burma Urad FAQ old/new variety traded almost flat each to Rs 4,375/100Kg and Rs 4,475, respectively at the Mumbai market due to limited millers trade activity as per immediate requirement due to cash crunch, slow demand in processed Urad, further supplies from Burma and as Nafed is active to liquidate old/new procured stock in selective states.
On other hand, In Chennai, Urad SQ/FAQ new variety traded lower by Rs 50-100 each at Rs 5,950/100Kg and Rs 4,650, respectively in ready delivery as per condition.
India 2019-20 State wise Kharif Urad Sowing Down 1.73 % As On Sep 4 Vs Last Yr (LAKH HA). Maharashtra:2.88 V/s 3.62, Karnataka:0.69 V/s 0.84, Rajasthan:4.57 V/s 4.72, Madhya Pradesh:16.5 V/s 15.52, Uttar Pradesh:7.02 V/s 6.88, Gujarat:0.87 V/s 1.07, Telangana:0.23 V/s 0.24, Andhra Pradesh:0.07 V/s 0.16, Tamil Nadu:0.14 V/s 0.3, Uttrakhand:0.3 V/s 0.29. Total:37.52 V/s 38.18.
Bikaner origin branded Urad dal traded at Rs 5,800-6,000/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,600/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,100/100Kg for spot.
As per market view, arrivals of new domestic Urad delayed and crop likely to affected around 15-20 percent due to rain. Prices may get further support due to fears of lower output due to decline in kharif sowing and also likely to affect standing pulses crops of Urad because of recent rain, resulting in lower yield and degradation in quality.
Chana Kantewala (Indore):
Chana prices traded firm by Rs 25-50 at Rs 4,175/100Kg in Indore on millers buying activities at lower rates.
Moreover, actual demand in chana dal and besan from consumption centres was reported. But, buying activity is still limited, only to meet immediate requirement due to liquidity crunch.
Sentiments are also under pressure as Nafed is active in liquidating old procured stock in selective states. Still, government holding major stock of old Chana around 1228469.76 MT.
Similarly, Australia origin Chana in ready business at Mumbai moved higher by Rs 25 at Rs 4,175/100kg amid millers trade and also due to very limited availability. Burma origin chana also gained by Rs 25 at Rs 4,125/100Kg.
Chana for September delivery on National Commodity and Derivatives Exchange (NCDEX), settled higher by 1.4 percent or Rs 55 at Rs 3,988/100kg. Earlier, in the day, the contract hovered in the range of 3,925 and 3,990 on Friday.
Open interests for NCDEX Chana september contract were down to 36210 lots against 46470 lots, with players liquidated long positions.
On the other hand, open interest for October contract increased to 76080 lots against 75780 lots which indicates that some players were covering their short positions at lower level.
Open interest of top 10 trading clients in the long side was 36190 MT whereas the short position of top ten clients was 61940 MT. The net position of to top 10 clients was net short by 25750 MT indicating large players have a negative view on the market.
Chana stocks at NCDEX accredited warehouses stood at 69977 metric tonnes (Indore: 121, Bikaner 44,641, Jaipur 25,215) as on 5th September, down from 72178 metric tonnes in the previous session, the exchange data showed.
Australian chana dal remained flat at Rs 5,150/100 Kg for spot on thin trade activity. Domestic chana dal of Pistol brand also ruled unchanged at Rs 5,400 for Spot, Angel brand at Rs 5,600 for Spot, Samrat brand at Rs 5,700 for Spot. Chana besan remained flat at Rs 3,120/50Kg, Vatana besan at Rs 3,200/50 Kg. On other hand, Vatana dal slipped at Rs 5,800 on slack buying at higher rates and following weak cues in raw White pea.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded higher by Rs 25-75 each at Rs 4,100/100Kg, Rs 4,225, Rs 4,125 and Rs 4,250, respectively on buying activity by besan flour millers at lower rates.
Kabuli chana of 40-42, 42-44 and 44-46 counts priced steady each at Rs 5,800/100Kg, Rs 5,600 and Rs 5,400, respectively at Indore market amid slow local buying against 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, prices of Chana likely to be under pressure further if Nafed continue to sell Chana at lower rates. But, prices may get support at lower rates for short term period as consumption demand has shifted to chana/kabuli chana from white pea due to cheaper rates and easy availability of Chana/Kabuli Chana. Buying is also likely to increase ahead with rise in consumption demand during festive period till Diwali.
Imported Masoor (Mumbai):
Canada crimson variety Masoor in both vessel/container along with Australia Masoor extended losses by Rs 25-50/100Kg at Mumbai due to dull millers trade activity, cash crunch, regular overseas supply, availability of imported stock and weak trend in Tur.
Sentiments were also pressurised due to supplies from Vessel M V Medi Astoria carrying about 28620.154 tonnes of Canada Masoor and M V Kennadi carrying about 38255 tonnes of Canada Masoor at Mundra port.
Canada origin red Masoor in vessel/container new remained weak by Rs 25-50 at Rs 3,800/100Kg and Rs 3,900, respectively.
Similarly, Australia origin red Masoor also quoted lower by Rs 50 to Rs 4,000/100Kg.
Moreover, demand in processed masoor from consumption centres was reported thin. Canada Masoor dal Khopoli spot traded lower at Rs 4,950-5,000/100Kg.
In forward business, Canada crimson variety masoor new offered at $390 per ton in container on CNF basis JNPT for Sept-Oct shipment and Australia Nugget variety Masoor offered at $400 per ton in container on CNF basis JNPT for Sept-Oct shipment.
Imported White Pea (Mumbai):
Canada and Ukraine origin White Pea slipped for second straight week by Rs 50-75/100Kg in Mumbai because of dull buying support from local and outstation traders/millers at prevailing rates amid cash crunch and following weak trend in Chana prices despite overall lower stock.
Canada and Ukraine White Pea traded lower by Rs 50-75 each at Rs 5,151/100Kg and Rs 5,025, respectively.
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.
However, no demand from mills was reported even at lower rates in Chana/Kabuli Chana due to liquidity crunch and also on limited sale counters despite the ongoing festive period.
Fresh supply of around 200-300 containers of White Pea at Kolkata port was reported. However, containers have not yet been cleared from Customs.
Moreover, prices of White Pea in Mumbai are lower compared to prices in Kolkata and hence, buyers may prefer to purchase from Mumbai. Additional fare cost is also making buying from Kolkata uncompetitive.
Moong (Jaipur):
Moong prices stayed steady at Rs 5,900-6,200/100Kg as per quality at Jaipur market amid thin millers trade activity.
Moong dal prices also traded flat at Rs 7,200-7,300/100Kg, depending on the variety.
On other hand, prices of new moong was under pressure due to increased arrivals of Kharif crop in Karnataka/Telangana and Maharashtra and thin demand in processed Moong. Moisture had been reduced in new arrivals.
Arrivals of new Moong witnessed at Kishangarh/Kekri markets of Rajasthan. The quality of arrived Moong is having moisture content of 14-15%. Arrivals of new Moong/Urad has been delayed due to heavy rain in recent weeks have hampered the harvesting. Rains have hit the quality of the crop in some regions and affecting the standing crop, the overall output could shrink around 15-20 percent.
Karnataka farmers want the government to start making purchases at MSP of Rs 7,050/100Kg as arrivals had pick up the pace.
However, millers were active in purchasing good quality Moong at lower rates.
In Delhi, Madhya Pradesh origin summer crop Moong traded weak at Rs 5,900-6,000/100Kg as per quality. Kanpur origin at Rs 5,900, Allahabad origin at Rs 6,300/100Kg.
India 2019-20 State wise Kharif Mung Sowing Down 9.64 % As On Sep 4 Vs Last Yr (LAKH HA). Karnataka:2.67 V/s 4.23, Maharashtra:3.22 V/s 3.94, Rajasthan: 18.31 V/s 19.02, Madhya Pradesh:1.8 V/s 2.1, Uttar Pradesh: 0.82 V/s 0.63, Gujarat: 0.86 V/s 0.6, Tamil Nadu: 0.09 V/s 0.12, Andhra Pradesh: 0.08 V/s 0.11, Odisha: 1.38 V/s 1.59, Telangana: 0.62 V/s 0.72, Total: 30.48 V/s 33.73.
Moong for September delivery on National Commodity and Derivatives Exchange (NCDEX), was ended firm by 0.6 percent or Rs 38 at Rs 5,970/100kg. Earlier, in the day, the contract hovered in the range of 5,935 and 5,970 on Friday.
In NCDEX Moong, Open interest of top 10 trading clients in the long side was 510 MT whereas the short position of top ten clients was 615 MT. The net position of to top 10 clients was net short by 105 MT indicating large players have a negative view on the market.
In forward business, Mozambique Moong new offered at $760 per ton on CNF basis JNPT for ready shipment.
Canada Green Pea (Mumbai):
Canada origin Green pea moved higher by Rs 50 to Rs 6,850/100Kg at Mumbai amid fresh buying activity at lower rates. However, regular supply from overseas coupled with availability of sufficient stock at Mumbai cold storages and godowns will limit the gains.
(By Commoditiescontrol Bureau; +91-22-40015513)
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