Login ID:
Password:
Partner Login
Contact Us : 7066511911

Weekly: Urad Skyrocket This Week

12 Oct 2019 6:16 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) – Urad, Masoor, Chana and Moong moved higher during the week ended Saturday (Oct 07-12 ) on millers buying support as sale counter in processed pulses reported good. While, Tur, White and Green Pea remained unchanged in thin trade activity.

Week Highlights

# Industry Demands To Extend Pulses Import Deadline By One Month.
# Centre Proposes Up to 7% Increase In MSP Of Rabi Crops.

Burma Lemon Tur:

Tur Lemon variety of Burma origin traded unchanged at Rs 4,825-4,850/100Kg in Mumbai amid limited millers trade activity due to average quality supply from Burma, upcoming supply from Africa in near future and also as regular demand and sale counters in Tur dal remained slow.

Similar, domestic tur in bilty trade at Akola traded unchanged at Rs 5,575-5,600/100Kg.

Latur origin new Phatka variety traded unchanged 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 7,700-7,800/100Kg (spot), Jalna origin new phatka variety at Rs 8,100-8,300/100Kg (spot) and Solapur origin new phatka variety at Rs 7,700-7,800/100Kg (Spot).

As per trade sources, vessel VIL DARDANELLES carrying Tur containers from Tanzania may not reach India shores before October 31st deadline given for import of pulses allocated under millers quota.

Another vessel, MV BERMUDA carrying Tur containers is expected to reach Indian port on time before 31st October.

Breakbulk vessel MV Reem carrying Tur is expected to departs from Tanzania on 13th October and will reach Mumbai on 24th October.

As per market view, prices of Tur likely to get support for short term period as 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. News of lower production estimated around 25% in Karnataka also may support prices. Moreover, Nafed so far has not sold old procured stock and rejected all lower bids. Buying is also likely to increase ahead for the short term with rise in consumption demand during festive period till Diwali.

Burma Urad:

Burma Urad FAQ new/old variety gained sharply by Rs 700-800 each to Rs 6,100/100Kg and Rs 5,950, respectively at the Mumbai market due to shortage of ready stock and better millers buying support at prevailing rates.

Arrivals of new domestic Urad in Madhya Pradesh has not pick up the pace and quality arrive in the market is poor. Quality of new Urad reported average in Uttar Pradesh.

MP pulse millers wants to import 1 lakh tonne urad to make up for the crop damages in MP.

Supplies from Burma in containers had arrived but still not cleared by custom as will take time to clear process at Chennai port while no supply is expected at Mumbai port.

Moreover, prices were supported by the concerns of crop damage which may result in lower yield and degradation in quality.

Demand and sale counters in processed Urad remained good from consumption centers following firm trend in raw Urad.

Similarly, In Chennai, Urad FAQ/SQ new variety also skyrocket by Rs 700-800 at Rs 6,300/100Kg and Rs 7,250-7,275, respectively in ready delivery as per condition as buyers were active to purchase at prevailing higher rates by giving ready payment condition, but still they were not getting ready delivery Urad from market.

Bikaner origin branded Urad dal traded higher 800-1000 at Rs 7,500-8,000/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 8,500/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 8,000/100Kg for spot.

As per market talk, profit booking in Urad likely to be witnessed at higher rates next week as supply of Urad in containers from Burma may be clear by customs in Chennai and also delivery will began. Ongoing domestic arrivals, further supply from Burma in current month and Nafed's activeness in liquidating old procured stock will limit the gains. However, overall prices will remain firm on concerns of crop damage and also arrivals will be slow down as domestic market will close during festive period.

Chana Kantewala (Indore):

Chana prices ruled firm at Rs 4,375-4,400/100Kg in Indore on millers buying activity to meet their immediate rquirement for crushing.

Actual demand in chana dal and besan from consumption centres was seen in the market. But, activity is still slow as government is holding major stock of Chana.

Physical buying had increased ahead with rise in consumption demand during festive period till Diwali.

On other hand, Australia origin Chana in ready business at Mumbai traded higher by Rs 25 at Rs 4,300/100kg amid millers trade and also due to very limited availability.

Similarly, Burma origin chana gained by Rs 50 at Rs 4,251/100Kg.

Tanzania origin Chana also up by Rs 50 at Rs 4,300/100Kg.

Chana for November delivery on National Commodity and Derivatives Exchange (NCDEX), ended higher by 1 percent or Rs 47 at Rs 4,370/100kg. Earlier, in the day, the contract hovered in the range of 4,314 and 4,388 on Friday.

Open interest for NCDEX Chana October contract decreased to 9240 lots against 13990 lots.

On other hand, open interest for November contract increased to 67500 lots against 65180 lots.

Open interest of top 10 trading clients in the long side was 51840 MT whereas the short position of top ten clients was 46880 MT. The net position of top 10 clients was net long by 4960 MT.

Chana stocks at NCDEX accredited warehouses stood at 31448 metric tonnes (Indore: 30, Bikaner 17,214, Jaipur 14,204) as on 10th October, down from 31548 metric tonnes in the previous session, the exchange data showed.

Australian chana dal traded flat at Rs 5,250/100 Kg for spot. Domestic chana dal of Pistol brand also ruled steady at Rs 5,500 for Spot, Angel brand at Rs 5,700 for Spot, Samrat brand at Rs 5,800 for Spot. Chana besan also traded at Rs 3,030/50Kg, Vatana besan remained flat at Rs 3,200/50 Kg, Vatana dal at Rs 5,800.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded firm each at Rs 4,175-4,200/100Kg, Rs 4,250-4,275, Rs 4,250 and Rs 4,350, respectively amid limited buying support from besan flour millers due to cheaper prices as compared to White Pea.

Kabuli chana of 40-42, 42-44 and 44-46 counts moved higher by Rs 100-150 each at Rs 5,950/100Kg, Rs 5,750 and Rs 5,600, respectively at Indore market amid improved local buying activity despite sufficient stocks.

Dollar variety Kabuli Chana also traded higher at Rs 5,000-5,500/100Kg at Indore.

In forward business, Russia Kabuli Chickpea offered at $383 per ton in container on CNF basis JNPT for ready shipment.

As per market view, prices of Chana likely to move higher further for short term period as buying is to increase with rise in consumption demand during festive period till Diwali. Nafed is not active to liquidate procured stock below Rs 4,400/100Kg and if it liquidate above Rs 4,400/100Kg , additional fare cost will also had to pay by purchaser. Balance stock of Chana with Nafed is upto three month consumption period. Some stock will be there in hands of private traders. New crop will come from January-February.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel/container along with Australia Masoor moved higher by Rs 25/100Kg at Mumbai due to millers buying support at prevailing rates despite regular supply from Canada.

Prices had also got support due to snowing in Canada and 80% crops are in fields.

Moreover, consumption of Masoor has increased due to its cheaper prices.

Buying in processed pulses also increased with rise in consumption demand during festive period till Diwali.

Canada origin red Masoor in vessel/container new traded higher by Rs 25 at Rs 3,925/100Kg and Rs 4,050, respectively.

Similarly, Australia origin red Masoor also ruled higher by Rs 25 to Rs 4,150/100Kg.

Canada Masoor dal Khopoli spot traded unchanged at Rs 4,925-4,975/100Kg.

In forward business, Canada crimson variety masoor new offered at $440 per ton in container on CNF basis JNPT for Oct shipment.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea traded unchanged in Mumbai because of thin buying support from local and outstation traders/millers at prevailing rates and fresh supply of about 27,000 tonnes from Canada at Mumbai port.

Canada and Ukraine White Pea traded flat each at Rs 4,911-4,921/100Kg and Rs 4,811-4,821, 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.

Prices are likely to get support at lower rates due to snowing in Canada and 80% crops are in fields.

Moong (Jaipur):

Moong prices moved higher at Rs 6,000-6,400/100Kg as per quality at Jaipur market amid good millers trade activity.

Similary, Moong dal prices also traded up at Rs 7,800/100Kg on better buying from consumption centers, depending on the variety.

New Moong gained at major markets of Karnataka, Telangana, Maharashtra and Rajasthan due to millers were interested in purchasing good quality Moong as consumption demand is increased and also on concerns of crop damage which may result in lower yield and degradation in quality.

In Delhi, Madhya Pradesh origin summer crop Moong traded at Rs 6,400-6,550/100Kg as per quality. Kanpur origin at Rs 6,200-6,300, Allahabad origin at Rs 6,450-6,550/100Kg. Rajasthan new kharif Moong priced at Rs 6,250-6,500/100Kg at Delhi market. Haryana origin new kharif Moong quoted at Rs 6,000-6,200.

At present, moong is trading below the MSP of Rs 7,050 per quintal. Pace of procurement by Nafed is still slow.

NAFED has successfully procured 3308.92 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on October 10, 2019.Tamil Nadu: 25.75, Telangana: 3258.43, Maharashtra: 24.74.

Moong for November delivery on National Commodity and Derivatives Exchange (NCDEX), was settled weak by 1.1 percent or Rs 72 at Rs 6,310/100kg. Earlier, in the day, the contract hovered in the range of 6,309 and 6,495 on Friday.

In NCDEX Moong, Open interest of top 10 trading clients in the long side was 130 MT whereas the short position of top ten clients was 135 MT. The net position of top 10 clients was net short by 5 MT.

Open interest for NCDEX Moong October contract decreased to 25 lots against 30 lots.

On other hand, Open interest for NCDEX Moong November contract increased to 125 lots against 105 lots.

Prices of good quality Moong likely to get support on concerns about crop damage, resulting in lower yield and degradation in quality. Buying is to increase ahead for the short term period with rise in consumption demand during festive period till Diwali. However, Nafed's activeness in liquidating old procured stock, but no major stock is left with Nafed.

Canada Green Pea (Mumbai):

Canada origin Green pea traded flat to Rs 7,000-7,400/100Kg at Mumbai amid limited buying activity as per quality and requirements against regular supply from overseas coupled with availability of sufficient stock at Mumbai cold storages and godowns.

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


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
Weekly: ICE Cotton Marginally Up On Hopes Of US-China ...
USDA Revises Down 2019-20 Global Cotton Production Esti...
ICE Cotton Ends Lower On Expectation Of Healthy Crop Pr...
Weekly ICE cotton: Ends Slightly Down On Fresh Short S...
Weekly ICE cotton: Ends Slightly Down; Weekly Export S...
more
Top 5 News
Pigeon Pea (TUR) Spot (Mumbai INR) – Bullish Primary Tr...
Pigeon Pea (TUR) Spot (BURMA USD) – Close to a Bullish...
USD/INR (Nov. ’19) – Approaching Resistance Near 71.50 ...
USD/MYR
USD/CNY & USD/IDR—
Top 5 Market Commentary
Domestic/Imported Variety Urad Extend Losses At Major M...
Domestic Tur Weak At Selective Markets; Imported Variet...
Spot Mentha Prices Firm On Stockists' Demand
Sugar Prices Up In Mumbai
Sugar Prices Up In Mumbai
Copyright © CC Commodity Info Services LLP. All rights reserved.