MUMBAI (Commoditiescontrol) – Tur, Urad, Masoor and Green Pea moved higher during the week ended Saturday (Oct 14 -19) on buying support. While, Moong and White Pea prices remained weak on thin activity. On other hand, Chana/Kabuli Chana traded mixed on limited trade volume.
Week Highlights
# Canada's Pea Production May Rise 30% To 4.7 Million Tonnes In 2019-20.
# Government May Extend Pulses Import Deadline Till November.
# Government Not Considering Import Duty Hike On Masoor: Sources.
# Maharashtra Govt Extends Deadline To Farmers For Registrations Of Kharif Procurement.
# Jaipur High Court Extends Hearing On Pulses Import Restriction Till Nov 8, 2019 - Sources.
# Online Registration For Procurement Of Kharif Crops From 8th Oct, 2019 In Rajasthan.
Burma Lemon Tur:
Tur Lemon variety of Burma origin traded higher by 200 at Rs 5,000-5,050/100Kg in Mumbai due to millers buying support as regular demand and sale counters in Tur dal reported good from consumption centers.
Similar, domestic tur in bilty trade at Akola traded up by Rs 100 at Rs 5,750-5,775/100Kg.
Arrivals of domestic Tur reported negligible and also Nafed is also not active to sale Tur in open market due to low domestic stock.
However, buyers were cautious due to upcoming supply from overseas soon before 31st October as government has not extend the October 31 deadline for pulses imports.
Latur origin new Phatka variety traded firm by Rs 50 at Rs 8,000-8,100/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,400-8,600/100Kg, Khamgaon origin new Phatka variety at Rs 7,800-7,900/100Kg (spot), Jalna origin new phatka variety at Rs 8,200-8,400/100Kg (spot) and Solapur origin new phatka variety at Rs 7,800-7,900/100Kg (Spot).
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.
Burma Urad:
Burma Urad FAQ new/old variety extended rally by Rs 450-500 each to Rs 6,500/100Kg and Rs 6,350, respectively at the Mumbai market after Jaipur high court extends date of hearing on pulses import restriction, following firm cues from Chennai/Burma, shortage of ready stock in Mumbai and also arrivals of new domestic Urad has not pick up the pace and quality arrive in the market is poor.
Millers were interested to purchase imported Urad to meet their immediate requirement for crushing.
However, demand and sale counter in processed Urad reported slow at higher rates.
Similarly, In Chennai, Urad FAQ/SQ new variety also continued upward rally by Rs 350-450 at Rs 6,700/100Kg and Rs 7,300-7,350, respectively in ready delivery as per condition following firm cues from Burma and also improved millers buying interest.
However, supply of Urad in containers from Burma is getting clearance by customs in slow pace at Chennai port.
As per Burma based trader, two direct vessel is expected on 20th & 23rd October for India (Chennai) as government has not extend the October 31 deadline for pulses imports.
Moreover, some importers has taken stay order to import Urad will be load in direct vessel expected on 3rd November for India (Chennai).
Bikaner origin branded Urad dal traded higher for second straight week 300-500 at Rs 8,000-8,500/100Kg for spot. Tiranga brand of Mumbai also traded up at Rs 8,800/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 8,000/100Kg for spot.
As per market talk, prices likely to get further support due to fears of even more damage to crops as rainfall in Urad producing belt was reported and also arrivals will be more delay on weather concerns.
Chana Kantewala (Indore):
Chana prices slipped by 25-50 at Rs 4,425-4,450/100Kg in Indore amid thin buying activity only to meet their immediate requirement for crushing and also remained cautious at prevailing rates as government is holding major stock of Chana.
Actual demand in chana dal and besan from consumption centres was seen in the market. But, activity is still slow.
On other hand, Australia origin Chana in ready business at Mumbai traded flat at Rs 4,300/100kg amid millers trade and also due to very limited availability.
Similarly, Burma origin chana stayed steady at Rs 4,250/100Kg.
Tanzania origin Chana also unchanged at Rs 4,300/100Kg.
Chana for November delivery on National Commodity and Derivatives Exchange (NCDEX), was ended firm by 0.5 percent or Rs 21 at Rs 4,458/100kg. Earlier, in the day, the contract hovered in the range of 4,434 and 4,483 on Friday.
Open interest for NCDEX Chana November contract decreased to 53340 lots against 53720 lots.
On other hand, open interest for December contract increased to 22480 lots against 20880 lots.
Open interest of top 10 trading clients in the long side was 43720 MT whereas the short position of top ten clients was 42030 MT. The net position of top 10 clients was net long by 1690 MT.
Chana stocks at NCDEX accredited warehouses stood at 30179 metric tonnes (Indore: 30, Bikaner 16,951, Jaipur 13,198) as on 16th October, the exchange data showed.
Australian chana dal traded unchanged at Rs 5,350/100 Kg for spot. Domestic chana dal of Pistol brand also ruled steady at Rs 5,600 for Spot, Angel brand at Rs 5,800 for Spot, Samrat brand at Rs 5,900 for Spot. Chana besan also traded at Rs 3,130/50Kg, Vatana besan remained flat at Rs 3,130/50 Kg, Vatana dal at Rs 5,800.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded steady to firm each at Rs 4,250/100Kg, Rs 4,350, Rs 4,250 and Rs 4,400, 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 for second straight week by Rs 100 each at Rs 6,200/100Kg, Rs 6,000 and Rs 5,850, respectively at Indore market amid improved local buying activity despite sufficient stocks.
Dollar variety Kabuli Chana traded lower at Rs 5,000-5,500/100Kg at Indor on slack trade at higher rates.
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 Nafed is not active to liquidate procured stock below Rs 4,400/100Kg. 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 commence from January-February. Demand of seed for rabi sowing likely to be good due to favourable weather. Meanwhile , the agriculture ministry has proposed a 4.45 percent hike in the Chana MSP that will take the existing floor price of Rs 4,620/quintal to Rs 4,825.
Imported Masoor (Mumbai):
Canada crimson variety Masoor in vessel/container along with Australia Masoor moved higher by Rs 100/100Kg at Mumbai due to better millers buying support at prevailing rates despite regular supply from Canada.
Prices had also got support as consumption of Masoor has increased due to its cheaper prices and also on weather concerns in Canada as there is 80% crops are in fields.
Canada origin red Masoor in vessel/container new traded higher by Rs 100 at Rs 4,100/100Kg and Rs 4,200, respectively.
Similarly, Australia origin red Masoor also ruled higher by Rs 100 to Rs 4,300/100Kg.
Canada Masoor dal Khopoli spot traded firm at Rs 5,000-5,100/100Kg.
The agriculture ministry has recommended the highest increase of 7.26 percent in the MSP of masur, to Rs 4,800 / quintal from 4,475.
In forward business, Canada crimson variety masoor new offered at $440 per ton in container on CNF basis JNPT for Oct/Nov shipment.
Imported White Pea (Mumbai):
Canada and Ukraine origin White Pea remained marginally weak in Mumbai because of slow trade activity from local and outstation traders/millers at prevailing rates amid cash crunch and supply at Mumbai/Kolkata port.
Canada and Ukraine White Pea fell by Rs 25 each at Rs 4,900/100Kg and Rs 4,800, 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 declined by Rs 100 at Rs 6,000-6,500/100Kg as per quality at Jaipur market due to thin trade activity amid the ongoing new arrivals in major states, overseas supply and also Nafed active to liquidate old procured stock.
Buying from millers was reported slow, only to meet immediate requirement as demand and sale counters in processed Moong reported limited.
Moong dal prices traded unchanged at Rs 7,800-7,900/100Kg depending on the variety.
In Delhi, Madhya Pradesh origin summer crop Moong traded more or less unchanged at Rs 6,400-6,550/100Kg as per quality. Kanpur origin at Rs 6,300-6,350, 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 6,200-6,250.
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 4800.40 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on October 17, 2019.Tamil Nadu: 26.75, Telangana: 4578.35, Maharashtra: 195.30.
In NCDEX Moong, Open interest of top 10 trading clients in the long side was 140 MT whereas the short position of top ten clients was 150 MT. The net position of top 10 clients was net short by 10 MT.
Open interest for NCDEX Moong November contract decreased to 125 lots against 130 lots.
Canada Green Pea (Mumbai):
Canada origin Green pea traded sharply up at Rs 8,200-8,500/100Kg at Mumbai amid good buying activity as per quality and requirements against limited stock.
(By Commoditiescontrol Bureau; +91-22-40015513)
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