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Weekly: Urad/Masoor Post Strong Gains This Week

14 Sep 2019 7:21 pm
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MUMBAI (Commoditiescontrol) – Urad, Masoor, Tur and Green Pea moved higher during the week ended Saturday (Sep 9-14) due to fresh millers trade activity at lower rates as demand for processed pulses was reported good. While, Chana, Kabuli Chana and White Pea ruled weak on slack trade activity. On other hand, Moong prices almost unchanged on thin activity.

Week Highlights

# Kharif Pulses Sowing Down 2.04% As On Sep 13 At 132.08 Lakh Ha Vs 134.83 Last Year. Tur:45.37 Vs 45.53, Urad:38.14 Vs 38.86, Moong:30.77 Vs 34.02 , Other Pulses:17.23 Vs 15.86.
# Govt Won't Extend Oct 31 Deadline For Pulses Import.
# SEBI Grants 3-Year Extension To NCDEX’s Clearing Arm.
# India Gets 38% Above-Average Monsoon Rains In The Week Ended Sept 11; Overall Surplus At 3%.
# Centre May Not Apply New TDS Rules To Some Sectors, Including Agribusiness.
# Exports of Rajma from China drops 5 percent in August month versus the previous July month. Exports for the August month reached 13,516 MT, down 5 % from 14,278 MT in the previous July month.
# Australia is likely to produce 2.84 lakh tonnes of chana (chickpea) during the year 2019-20 despite decreased of 9 percent in acreage, according to ABARES crop report September 2019.
# Australia is likely to produce 3.43 lakh tonnes of Masoor (Lentils) during the year 2019-20 despite 11 percent decrease in acreage, according to ABARES September crop report.

Burma Lemon Tur:

Tur Lemon variety of Burma origin ruled firm by Rs 25-50 to Rs 4,875-4,900/100Kg in Mumbai amid lower level buying support from mills as regular sale counter in Tur dal reported good from wholesale/retail counters.

Government had also not extended for pulses import beyond October 31. This can reduce tur imports against the quota of 4 lakh tonnes as traders haven't been able to sign enough import contracts so far and also import are not viable.

Moreover, Nafed had also not sold old procured stock still and rejected all lower bids from last fortnight.

Similarly, domestic tur in bilty trade at Akola also traded firm by Rs 25 at Rs 5,700-5,775/100Kg.

Latur origin new Phatka variety traded flat 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 Down 0.4 % As On Sep 11 Vs Last Yr (LAKH HA). Karnataka: 11.69 V/s 9.91, Maharashtra: 12.06 V/s 12.34, Uttar Pradesh: 3.5 V/s 3.47, Gujarat: 2.09 V/s 2.51, Madhya Pradesh: 5.06 V/s 6.25, Telangana: 2.87 V/s 2.77, Andhra Pradesh: 2.2 V/s 2.09, Chhattisgarh: 1.24 V/s 1.29, Total: 45.37 V/s 45.53.

Prices of Tur likely to gets further 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 higher by Rs 250-275 each to Rs 4,650-4,675/100Kg and Rs 4,750-4,775, respectively at the Mumbai market due to concerns about crop damage because of rains in Madhya Pradesh/Rajasthan and delay in arrivals.

Millers were also active in purchasing for crushing despite regular supply from Burma.

Moreover, demand and sale counter in processed Urad reported good following trend in raw Urad.

Similarly, In Chennai, Urad SQ/FAQ new variety traded higher by Rs 200-300 each at Rs 6,125-6,150/100Kg and Rs 4,950-4,975, respectively in ready delivery as per condition.

India 2019-20 State wise Kharif Urad Sowing Down 1.85 % As On Sep 11 Vs Last Yr (LAKH HA). Maharashtra: 2.88 V/s 3.75, Karnataka: 0.69 V/s 0.84, Rajasthan: 4.61 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: 0.08 V/s 0.17, Tamil Nadu: 0.32 V/s 0.37, Uttrakhand:0.3 V/s 0.29, Total:38.14 V/s 38.86.

Bikaner origin branded Urad dal traded up by Rs 300 at Rs 6,100-6,300/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,900/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,400/100Kg for spot.

As per market view, due to concerns about crop damage, resulting in lower yield and degradation in quality because of rains in Madhya Pradesh/Rajasthan and delay in arrivals.

Chana Kantewala (Indore):

Chana prices remained marginally weak at Rs 4,175/100Kg in Indore amid slack physical buying as demand and sale counters in Chana dal and besan were reported thin.

Activity was also thin this week as some markets in Madhya Pradesh was closed due to rain and also as traders are opposing government decision to impose 2% TDS on cash withdrawals of over Rs 1 crore.

Moreover, sentiments were pressurised as Nafed is active in liquidating old/new procured stock in selective states.

Still, government holding major stock of old Chana ( Rabi -2018) around 1211805.76 MT and (Rabi- 2019) 772303.71 MT as On 11th September, 2019.

Australia origin Chana in ready business at Mumbai moved higher by Rs 25 at Rs 4,200/100kg amid millers trade and also due to very limited availability.

On other hand, Burma origin chana slipped by Rs 50 at Rs 4,100/100Kg.

Chana for October delivery on National Commodity and Derivatives Exchange (NCDEX), was ended lower by 0.9 percent or Rs 38 at Rs 4,027/100kg. Earlier, in the day, the contract hovered in the range of 4,017 and 4,070 on Friday.

Open interest for NCDEX Chana september contract down to 5640 lots against 6220 lots. Players with long position were liquidating their position.

Similarly, open interest for October contract decreased to 86350 lots against 90170 lots which indicates players were liquidating their long positions.

Open interest of top 10 trading clients in the long side was 39260 MT whereas the short position of top ten clients was 54870 MT. The net position of to top 10 clients was net short by 15610 MT.

Chana stocks at NCDEX accredited warehouses stood at 58086 metric tonnes (Indore: 121, Bikaner 38,826, Jaipur 19,139) as on 12th September, down from 59910 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 2,990/50Kg, Vatana besan at Rs 3,200/50 Kg, Vatana dal at Rs 5,800.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded lower by Rs 25-75 each at Rs 4,050/100Kg, Rs 4,200, Rs 4,100 and Rs 4,250, respectively due to dull trade activity owing to less interest shown by besan flour millers at higher rates and following weak trend in Chana.

Kabuli chana of 40-42, 42-44 and 44-46 counts priced higher by Rs 50 each at Rs 5,850/100Kg, Rs 5,650 and Rs 5,450, respectively at Indore market amid local buying at lower rates 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 vessel/container along with Australia Masoor moved higher by Rs 75-125/100Kg at Mumbai due to better millers buying support at lower rates.

Moreover, consumption of Masoor is increased due to cheaper pulses.

Buying in processed pulses is likely to increase ahead with rise in consumption demand during festive period till Diwali.

Canada origin red Masoor in vessel/container new moved higher by Rs 75-125 at Rs 3,875/100Kg and Rs 4,025, respectively.

Similarly, Australia origin red Masoor also gained by Rs 100 to Rs 4,100/100Kg.

However, demand in processed masoor from consumption centres was reported limited. Canada Masoor dal Khopoli spot traded unchanged 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 by Rs 30/100Kg in Mumbai because of thin 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 30 each at Rs 5,121/100Kg and Rs 5,001, 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.

Moong (Jaipur):

Moong prices stayed steady at Rs 5,800-6,200/100Kg as per quality at Jaipur market amid thin millers trade activity.

On other hand, Moong dal prices gained by Rs 100 at Rs 7,300-7,400/100Kg, depending on the variety.

New Moong traded mixed at major markets of Karnataka, Telangana, Maharashtra and Rajasthan due to slow millers trade against ongoing arrivals, cash crunch and also Nafed active in liquidating old procured stock in selected states.

Arrivals of new Moong was witnessed in Kishangarh and Kekri market of Rajasthan. However, quality contained 12-15 percent moisture due to rainfall. Around 90% of Mogar quality Moong arrivals was reported.

Recent rains affecting the standing crop of moong , the overall output could shrink and will hamper the harvesting of Moong.

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 firm at Rs 6,100-6,200/100Kg as per quality. Kanpur origin at Rs 5,900-6,100, Allahabad origin at Rs 6,300-6,400/100Kg on millers buying activity and negligible supply from its origin and also due to concerns about crop damage in Rajasthan/Madhya Pradesh because of rains.

India 2019-20 State wise Kharif Moong Sowing Down 9.55 % As On Sep 11 Vs Last Yr (LAKH HA). Karnataka:2.68 V/s 4.23, Maharashtra:3.24 V/s 4.03, Rajasthan:18.31 V/s 19.02, Madhya Pradesh: 1.82 V/s 2.1, Uttar Pradesh: 0.82 V/s 0.63, Gujarat:0.92 V/s 0.61, Tamil Nadu: 0.17 V/s 0.2, Andhra Pradesh: 0.08 V/s 0.11, Odisha: 1.45 V/s 1.65, Telangana: 0.62 V/s 0.73. Total: 30.77 V/s 34.02.

Moong for October delivery on National Commodity and Derivatives Exchange (NCDEX), was settled weak by 1.2 percent or Rs 68 at Rs 5,774/100kg. Earlier, in the day, the contract hovered in the range of 5,752 and 5,890 on Friday.

In NCDEX Moong, Open interest of top 10 trading clients in the long side was 235 MT whereas the short position of top ten clients was 285 MT. The net position of to top 10 clients was net short by 50 MT.

Open interest for NCDEX Moong september contract decreased to 35 lots against 65 lots. Players with long position were liquidating their position.

On other hand, open interest for October contract increased to 260 lots against 240 lots.

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 for second straight week by Rs 50 to Rs 6,900/100Kg at Mumbai amid buying activity at lower rates as per requirements. 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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