MUMBAI (Commoditiescontrol) – Tur, Urad and White Pea declined during the week ended Saturday (Sep 16-21) due to slack millers trade activity and supply from overseas. While, Masoor, Chana, Kabuli Chana, Moong and Green Pea remained almost unchanged on thin trade activity.
Week Highlights
# India Kharif Pulses Sowing Down 1.79 % As On Sep 19 At 132.99 Lakh Ha Vs 135.41 Last Year. Tur : 45.49 Vs 45.64, Urad : 38.46 Vs 39.13, Moong : 30.99 Vs 34.10, Other Pulses: 17.34 Vs 15.92.
# Canada's Pea Production May Rise 30% To 4.7 Million Tonnes In 2019-20.
# India's Kharif Production To Be Higher This Year On Better Monsoon: Agri Minister.
# Government Proposes To Slash Corporate Tax Rate For Domestic Cos, New Mfg Cos.
# India Gets 38% Above-Average Monsoon Rains In The Week Ended Sept 18; Overall Surplus At 5%.
# No 2% TDS On Cash Payments Above Rs 1 Cr Through APMCs.
# Commerce Ministry Recommends Raising Of Import Duty On Lentils/Masoor To 70%.
Burma Lemon Tur:
Tur Lemon variety of Burma origin slipped by Rs 100 to Rs 4,825/100Kg in Mumbai amid slow buying support from mills due to average quality, supply from Burma and also regular sale counters in Tur dal remained thin from wholesale/retail counters.
Similarly, domestic tur in bilty trade at Akola also traded weak by Rs 75 at Rs 5,725-5,750/100Kg.
As per market view, prices of Tur Lemon likely to trade lower because of average quality due to old crop. On other hand, domestic Tur will not decline compare to Tur lemon variety. Price difference between Tur lemon variety and domestic Tur will be higher.
Buyers are cautious and purchasing only as per their immediate requirement for crushing due to supply from overseas and as Nafed is holding old procured stock.
Traders holding stock were active to liquidate stock at every rise in the markets as they see very less possibility of any major rise in price in the immediate future.
Buyers who had purchased processed tur earlier in forward business at higher rates for diwali delivery were facing huge losses.
However, supply pressure from overseas will be lower against government allocated quota of four lakh tonnes to import till October 31 as imports are not viable.
Latur origin new Phatka variety traded flat at Rs 8,000-8,200/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,400-8,600/100Kg, Khamgaon origin new Phatka variety at Rs 7,800-8,000/100Kg (spot), Jalna origin new phatka variety at Rs 8,200-8,400/100Kg (spot) and Solapur origin new phatka variety at Rs 7,800-8,000/100Kg (Spot).
India 2019-20 State wise Kharif Tur Sowing Down 0.3 % As On Sep 18 Vs Last Yr (LAKH HA). Karnataka:11.71 V/s 9.92, Maharashtra: 12.08 V/s 12.34, Uttar Pradesh: 3.51 V/s 3.47, Gujarat: 2.09 V/s 2.52, Madhya Pradesh:5.06 V/s 6.25, Telangana:2.87 V/s 2.77, Andhra Pradesh:2.24 V/s 2.18, Chhattisgarh: 1.26 V/s 1.29. Total:45.49 V/s 45.64.
Burma Urad:
Burma Urad FAQ old/new variety traded weak by Rs 125 each to Rs 4,675/100Kg and Rs 4,800, respectively at the Mumbai market due to slack millers buying support as demand and sale counters in Urad Dal continued to remain slow due to cash crunch.
Moreover, increased arrivals of new domestic Urad in Maharashtra/Karnataka coupled with regular supply from Burma prompted buyers to keep themselves on the sidelines at higher rates. Arrivals of new Urad witnessed in some centers of Rajasthan.
Meanwhile, Nafed is also active to liquidate old/new procured stock in selective states.
Similarly, In Chennai, Urad SQ new variety traded lower by Rs 50 at Rs 6,225-6,250/100Kg in ready delivery as per condition. While, FAQ variety remained unchanged at Rs 5,100-5,125.
Good demand for Maharashtra origin new Urad was reported from southern market due to superior quality.
India 2019-20 State wise Kharif Urad Sowing Down 1.71 % As On Sep 18 Vs Last Yr (LAKH HA). Maharashtra: 2.9 V/s 3.76,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 0.18, Tamil Nadu:0.32 V/s 0.37, Uttrakhand:0.3 V/s 0.29. Total:38.46 V/s 39.13.
Bikaner origin branded Urad dal traded at Rs 6,200-6,400/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 7,100/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,500/100Kg for spot.
As per market talk, prices of Urad may pressurised for short term period on supply of 1.5 lakh ton as per government allocate quota licence from Burma and also arrivals of domestic crop. But, prices likely to get support at lower rates on concerns about crop damage, resulting in lower yield and degradation in quality as still receiving rains in Madhya Pradesh/Uttar pradesh will damage crop more. Withdrawl of monsoon expectation is around third week of October.
Chana Kantewala (Indore):
Chana prices remained steady to firm at Rs 4,200/100Kg in Indore amid millers buying activity at lower rates as per immediate requirement for crushing.
However, demand and sale counters in Chana dal and besan was reported limited.
Buying is also likely to increase ahead for the short term period with rise in consumption demand during festive period till Diwali.
Sentiments were still pressurised as Nafed is active in liquidating old/new procured stock on daily basis in selective states.
Still, government holding major stock of old Chana ( Rabi -2018) around 1187281.70 MT and (Rabi- 2019) 772303.71 MT as On 19th September, 2019.
Australia origin Chana in ready business at Mumbai traded unchanged at Rs 4,200/100kg amid limited millers trade and also due to very limited availability.
Similarly, Burma origin chana also ruled steady at Rs 4,100/100Kg.
Chana for October delivery on National Commodity and Derivatives Exchange (NCDEX), settled firm by 0.5 percent or Rs 20 at Rs 4,065/100kg. Earlier, in the day, the contract hovered in the range of 4,020 and 4,070 on Friday.
Open interest for NCDEX Chana October contract increased to 81100 lots against 80510 lots.
Similarly, open interest for November contract also up to 23930 lots against 22240 lots.
Open interest of top 10 trading clients in the long side was 34260 MT whereas the short position of top ten clients was 47150 MT. The net position of top 10 clients was net short by 12890 MT.
Chana stocks at NCDEX accredited warehouses stood at 55493 metric tonnes (Indore: 121, Bikaner 36,927, Jaipur 18,445) as on 19th September, down from 55975 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 steady each at Rs 4,025/100Kg, Rs 4,200, Rs 4,100 and Rs 4,250, respectively amid limited buying at lower rates from besan flour millers due to cheaper prices as compared to White Pea.
Kabuli chana of 40-42, 42-44 and 44-46 counts priced lower by Rs 100 each at Rs 5,750/100Kg, Rs 5,550 and Rs 5,350, respectively at Indore market amid thin 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.
Imported Masoor (Mumbai):
Canada crimson variety Masoor in vessel/container along with Australia Masoor stayed steady at Mumbai due to limited buying support from mills despite regular supply from overseas and availibility of sufficient stock.
However, consumption of Masoor is increased due to cheaper pulses.
Canada origin red Masoor in vessel/container new traded at Rs 3,875/100Kg and Rs 4,025, respectively.
Similarly, Australia origin red Masoor also ruled unchanged 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 5,000-5,050/100Kg.
In forward business, Canada crimson variety masoor new offered at $420 per ton in container on CNF basis JNPT for Sept-Oct shipment and Australia Nugget variety Masoor offered at $415 per ton in container on CNF basis JNPT for Sept-Oct shipment.
Imported White Pea (Mumbai):
Canada and Ukraine origin White Pea fell by Rs 25/100Kg in Mumbai because of thin buying support from local and outstation traders/millers at prevailing rates amid cash crunch despite overall lower stock.
Canada and Ukraine White Pea traded lower by Rs 20-25 each at Rs 5,100/100Kg and Rs 4,975, 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 5,900-6,200/100Kg as per quality at Jaipur market amid thin millers trade activity.
On other hand, Moong dal prices traded lower by Rs 100-200 at Rs 7,200/100Kg, depending on the variety.
New Moong traded mixed at major markets of Karnataka, Telangana, Maharashtra and Rajasthan due to slow millers trade as per quality against increasing arrivals, cash crunch, overseas supply and also Nafed active in liquidating old procured stock in selected states.
In Delhi, Madhya Pradesh origin summer crop Moong traded lower at Rs 6,000/100Kg as per quality. Kanpur origin at Rs 5,750, Allahabad origin at Rs 6,200-6,250/100Kg. Kishangarh ( Rajasthan) new kharif Moong priced at Rs 5,500-5,600/100Kg at Delhi market. Haryana origin new kharif Moong quoted at Rs 5,800-6,000.
At present, moong is trading below MSP of Rs 7,050 per quintal. This season, Maharashtra (FPC) farmer producer companies will be procuring some 9,000 tonne of moong. Review of the procurement targets will be possible. In Maharashtra, the delayed monsoon has impacted the acreage and it may result in lower output.
NAFED has successfully procured 306.90 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on September 19, 2019.Tamil Nadu:20.50, Telangana: 286.40.
India 2019-20 State wise Kharif Mung Sowing Down 9.12 % As On Sep 18 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:0.93 V/s 0.62, Tamil Nadu: 0.17 V/s 0.2, Andhra Pradesh: 0.08 V/s 0.12, Odisha: 1.55 V/s 1.69, Telangana:0.71 V/s 0.73. Total: 30.99 V/s 34.1.
Moong for October delivery on National Commodity and Derivatives Exchange (NCDEX), settled higher by 1.8 percent or Rs 100 at Rs 5,820/100kg. Earlier, in the day, the contract hovered in the range of 5,762 and 5,820 on Friday.
In NCDEX Moong, Open interest of top 10 trading clients in the long side was 210 MT whereas the short position of top ten clients was 280 MT. The net position of to top 10 clients was net short by 70 MT.
Open interest for NCDEX Moong October contract decreased to 265 lots against 270 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 remained more or less unchanged to Rs 6,900/100Kg at Mumbai amid limited buying activity as per requirements against regular supply from overseas coupled with availability of sufficient stock at Mumbai cold storages and godowns.
(By Commoditiescontrol Bureau; +91-22-40015513)
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