MUMBAI (Commoditiescontrol) – Urad, Masoor, Moong and Green Pea gained during the week ended Saturday (Oct 21 -26) on better buying support. While, Tur and White Pea prices remained weak on thin activity. On other hand, Chana/Kabuli Chana traded mixed on thin trade volume.
Please note all imported rates of Mumbai and domestic rates of Maharashtra was of 22nd October as markets was closed on 21st October due to election.
Week Highlights
# Madhya Pradesh Providing Rs 500/100 kg Subsidy On Certified Chana Seed.
# The CCEA has approved the MSPs of all rabi (winter-sown) crops for the 2019-20 crop year (July-June) as recommended by the government’s farm price advisory body CACP.
# Government To Sell Pulses In The Open Market.
Burma Lemon Tur:
Tur Lemon variety of Burma origin slipped by Rs 75 at Rs 4,900/100Kg in Mumbai amid dull millers trade activity at prevailing rates as buyers were cautious due to upcoming supply from overseas soon and also as demand and sale counters in Tur dal remained limited.
Vessel M V REEM carrying 6613.200 tonnes of Tanzania Tur is expected to arrive at Mumbai port on 28th October.
Moreover, Nafed is active to liquidate old procured stock in selective states. But, not at lower rates due to less ready stock.
Still no damage to Tur crop was reported in producing areas, such as Maharashtra, Karnataka, Andhra Pradesh and Telangana due to rainfall during whole week. But, as per karnataka based trader, if rain continue for more couple of days it will damage the Tur standing crop. Already around 25% lower production of Tur estimated in Karnataka.
On other hand, domestic tur in bilty trade at Akola traded firm by Rs 100 at Rs 5,700-5,750/100Kg.
Latur origin new Phatka variety traded unchanged 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 7,800-7,900/100Kg (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).
Burma Urad:
Burma Urad FAQ new/old variety moved higher by Rs 25-50 each to Rs 6,425-6,450/100Kg and Rs 6,225, respectively at the Mumbai market amid better millers buying activities due to shortage of ready stock in Mumbai.
Prices has got support due to negligible domestic new arrivals as major domestic market remained closed due to diwali festive and also arrivals of new domestic Urad has not pick up the pace on weather concern and quality arrive in the market is poor.
Millers were interested to purchase imported Urad to meet their immediate requirement for crushing.
In Chennai, Urad SQ new variety also gained by Rs 100 at Rs 7,350/100Kg in ready delivery as per condition. While, FAQ variety traded almost flat at Rs 6,750.
However, supply of Urad in containers from Burma is getting clearance by customs in slow pace at Chennai port.
Demand and sale counter in processed Urad reported slow at higher rates.
Bikaner origin branded Urad dal traded flat at Rs 8,000-8,500/100Kg for spot. Tiranga brand of Mumbai also traded steady at Rs 8,800/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 8,000/100Kg for spot.
Chana Kantewala (Indore):
Chana prices remained weak by 50 at Rs 4,375-4,400/100Kg 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.
The CCEA has approved the MSP of Chana hiked by Rs 255 to Rs 4,875 per quintal for this year from Rs 4,620 per quintal last year.
Continue rainfall during whole week may delay Chana sowing in many parts of Karnataka. But as per market view, sowing of Chana is likely to be increase due to favourable weather for Chana and hike in MSP.
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 weak by 0.3 percent or Rs 13 at Rs 4,441/100kg. Earlier, in the day, the contract hovered in the range of 4,429 and 4,462 on Friday.
Open interest for NCDEX Chana November contract increased to 43240 lots against 43150 lots.
Similarly, open interest for December contract also up to 31130 lots against 29720 lots.
Open interest of top 10 trading clients in the long side was 43640 MT whereas the short position of top ten clients was 37430 MT. The net position of top 10 clients was net long by 6210 MT.
Chana stocks at NCDEX accredited warehouses stood at 15395 metric tonnes (Indore: 30, Bikaner 11,282, Jaipur 4,083) as on 24th October, the exchange data showed.
Australian chana dal remained 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 almost flat 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 declined by Rs 200 each at Rs 6,100/100Kg, Rs 5,900 and Rs 5,800, respectively at Indore market amid dull local buying activity at higher rates against sufficient stocks.
Dollar variety Kabuli Chana traded higher by Rs 200 at Rs 5,000-5,700/100Kg at Indore on fresh trade activity.
In forward business, Russia Kabuli Chickpea offered at $383 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 moved higher for second straight week by Rs 50-100/100Kg at Mumbai due to improved millers buying support.
Consumption of Masoor is higher due to cheaper pulses and also buying had increased due to festive period.
Moreover, The CCEA has approved the MSP of Masoor by Rs 325 to Rs 4,800/100Kg for this year from Rs 4,475/100Kg last year.
Canada origin red Masoor in vessel/container new traded higher by Rs 100 at Rs 4,200/100Kg and Rs 4,300, respectively.
Similarly, Australia origin red Masoor also ruled higher by Rs 50 to Rs 4,350/100Kg.
Canada Masoor dal Khopoli spot traded flat at Rs 5,000-5,100/100Kg.
Vessel M V JAGRADHA carrying 32300 tonnes of Canada Masoor is expected to arrive at Mundra port on 2 November, 2019, according to a shipping agency.
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 weak for third week in a row at 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 25-50 each at Rs 4,871/100Kg and Rs 4,751, 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 traded higher by Rs 100-200 at Rs 6,200-6,600/100Kg as per quality at Jaipur market due to fresh millers trade activity at lower rates and less new arrivals in major states. Millers were active in purchasing good quality Moong.
Prices has got support due to negligible domestic new arrivals as major domestic market remained closed due to diwali festive.
Moreover, Nafed is also not active to liquidate old procured stock below MSP due to low balance stock.
Similarly, Moong dal prices traded up by Rs 200 at Rs 8,000-8,100/100Kg depending on the variety.
In Delhi, Rajasthan new kharif Moong priced firm at Rs 6,100-6,500/100Kg.
NAFED has successfully procured 5831.17 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on October 24, 2019.Tamil Nadu: 29.25, Telangana: 5239.48, Maharashtra: 365.69, Karnataka:196.75.
In NCDEX Moong, Open interest of top 9 trading clients in the long side was 145 MT whereas the short position of top nine clients was 145 MT. The net position of top 9 clients was unchanged.
Canada Green Pea (Mumbai):
Canada origin Green pea traded higher for second straight week by Rs 200 at Rs 8,500-8,800/100Kg at Mumbai amid good buying activity as per quality and requirements against limited stock.
(By Commoditiescontrol Bureau; +91-22-40015513)
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