Weekly: Urad Plunges Most This Week On Profit Taking

MUMBAI (Commoditiescontrol) – Major pulses, such as Tur, Urad, Chana, Moong, Masoor, White Pea remained weak during the week ended Saturday (Nov 4-9) on dull buying support. While, Green Pea traded unchanged on limited activity. On other hand, Kabuli Chana traded mixed on thin trade volume.

Week Highlights

# India Rabi Pulse Sowing down by 30.25 % as on November 8 to 27.85 lakh Ha vs 39.93 last year at the same period. Chana: 19.82 Vs 26.63, Masoor: 1.91 Vs 3.46, Matar: 1.42 Vs 2.67, Urad: 1.12 Vs 1.20, Moong: 0.25 Vs 0.35, Other Pulses:0.90 Vs 1.15.
# Jaipur High Court Postponed Hearing On Pulses Import Restriction Till Nov 27, 2019 - Sources.
# IPGA Announces 5th Edition Of Global Pulses Conclave On February 12-14.
# Government Extends Deadline For Importing Tur To November 15.
# Dal Millers Not Very Happy With 15-Day Extension For Importing Tur.

Burma Lemon Tur:

Tur Lemon variety of Burma origin declined by Rs 200 at Rs 5,350/100Kg in Mumbai amid slow millers trade activity as weather reported clear in Tur producing areas. New domestic Tur likely to hit local markets of karnataka next month.

In Mumbai, Sudan origin Tur traded at Rs 5,750/100Kg, Matwara Tur at Rs 4,700-4,750 and Mozambique white Tur at Rs 4,800.

Similarly, domestic Tur in bilty trade at Akola also traded lower by Rs 150 at Rs 6,050-6,075/100Kg.

As per local trader of Solapur, new domestic Tur likely to began from last week of current month in Bijapur line if weather continue to be clear. If rain hit again, arrivals will be delay to 1st week of December and will also affect the arrivals/quality.

Buyers were cautious due to further upcoming supply from overseas and also Nafed holding old procured stock.

Demand and sale counter in processed Tur also reported slow at prevailing rates following trend in raw Tur.

Latur origin new Phatka variety traded at Rs 8,400-8,600/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,800-9,000/100Kg, Khamgaon origin new Phatka variety at Rs 8,300-8,400/100Kg (spot), Jalna origin new phatka variety at Rs 8,600-8,800/100Kg (spot) and Solapur origin new phatka variety at Rs 8,300-8,400/100Kg (Spot).

Burma Urad:

Burma Urad FAQ new/old variety slipped by Rs 900 each to Rs 7,900/100Kg and Rs 7,800, respectively at the Mumbai market following weak cues from Chennai, slack buying activity as demand and sale counter in Urad dal also reported slow.

Moreover, supply of Urad in containers from Burma is getting clearance by customs, further upcoming supplies in near future.

Similarly, In Chennai, Urad FAQ/SQ varieties moved lower by Rs 900 each at Rs 8,100/100Kg and Rs 9,000, respectively in ready delivery as per condition.

Further weakness of Rs 300-400/100Kg cannot be ruled out in Urad prices.

However, millers were active in purchasing imported Urad at lower rates on immediate requirement for crushing as almost 50 % of the crop damaged in major Urad growing states creating a shortage in the market hurting daily operations of dal millers.

Moreover, Urad had increased almost 100% from lower level in short period of three month. So as per market sources, there are many forward trade outstanding for which delivery is still to be given. And there is possibility of defaulting these forward contract, if it happen so, we may see further short covering at current prices which may push prices of Urad further.

Government has also not extended the deadline of importing Urad. Stock of Urad with Nafed is also limited around 214457 MT.

Bikaner origin branded Urad dal traded at Rs 10200-10400/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 11500/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 10600/100Kg for spot.

Chana Kantewala (Indore):

Chana prices remained weak by 100 at Rs 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 Nafed planning to sell procured stock around 10 lakh tonnes state wise in next three month.

Actual demand in chana dal and besan from consumption centres was seen thin in the market.

Rabi Chana sowing was down by 25.57% as on November 8 to 19.82 lakh hectare vs 26.63 lakh hectare during the same period last year.

In Rajasthan, Chana acreage was up by 61 % at 8.31 lakh hectares compared with 5.16 lakh hectares in 2018-19.

On other hand, Australia origin Chana in ready business at Mumbai traded flat at Rs 4,350-4,375/100kg amid millers trade and also due to very limited availability.

While, Burma origin chana ruled weak by Rs 50 at Rs 4,250/100Kg.

Tanzania origin Chana also fell by Rs 75 at Rs 4,325/100Kg.

Chana for November delivery on National Commodity and Derivatives Exchange (NCDEX), settled lower by 1.1 percent or Rs 50 at Rs 4,431/100kg. Earlier, in the day, the contract hovered in the range of 4,421 and 4,500 on Friday.

Open interest for NCDEX Chana November contract decreased to 17820 lots against 21100 lots.

On other hand, open interest for December contract increased to 50730 lots against 47310 lots.

Open interest of top 10 trading clients in the long side was 44830 MT whereas the short position of top ten clients was 39000 MT. The net position of top 10 clients was net long by 5830 MT.

Chana stocks at NCDEX accredited warehouses stood at 7903 metric tonnes (Indore: 30, Bikaner 5,781, Jaipur 2,092) as on 7th November, the exchange data showed.

Australian chana dal remained unchanged at Rs 5,400/100 Kg for spot. Domestic chana dal of Pistol brand also ruled steady at Rs 5,650 for Spot, Angel brand at Rs 5,850 for Spot, Samrat brand at Rs 5,950 for Spot. Chana besan also traded at Rs 3,160/50Kg, Vatana besan remained flat at Rs 3,100/50 Kg, Vatana dal at Rs 5,700.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded lower by Rs 50-75 each at Rs 4,275/100Kg, Rs 4,375, Rs 4,300 and Rs 4,400, respectively due to slack trade activity owing to less interest shown by besan flour millers, following weak trend in Chana.

Kabuli chana of 40-42, 42-44 and 44-46 counts moved higher by Rs 250 each at Rs 6,850/100Kg, Rs 6,650 and Rs 6,500, respectively at Indore market amid fresh local buying activity.

Dollar variety Kabuli Chana traded higher by Rs 200 at Rs 5,200-6,000/100Kg at Indore on fresh trade activity.

In forward business, Russia Kabuli Chickpea offered at $395 per ton in container on CNF basis JNPT for ready shipment.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel remained weak by Rs 50/100Kg at Mumbai due to slow millers trade activity at higher rates and following weak cues in other pulses. On other hand, Canada crimson variety Masoor in container and Australia Masoor priced unchanged.

Canada origin red Masoor in vessel fell by Rs 50 at Rs 4,250/100Kg. While, Canada origin Masoor in container traded flat at Rs 4,400.

Similarly, Australia origin red Masoor also ruled steady to Rs 4,425/100Kg.

Canada Masoor dal Khopoli spot traded flat at Rs 5,250/100Kg.

Rabi Masoor sowing was down by 44.80% as on November 8 to 1.91 lakh hectare vs 3.46 lakh hectare during the same period last year.

In forward business, Canada crimson variety masoor new offered at $455 per ton in container on CNF basis JNPT for Nov/Dec shipment.

Australia Nugget variety masoor new offered at $450 per ton in container on CNF basis JNPT for Dec/Jan shipment.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea remained weak at Mumbai because of slow trade activity from local and outstation traders/millers at prevailing rates.

Canada and Ukraine White Pea fell by Rs 20-25 each at Rs 4,811/100Kg and Rs 4,681-4,700, 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.

Rabi Matar sowing was down by 46.82% as on November 8 to 1.42 lakh hectare vs 2.67 lakh hectare during the same period last year.

Moong (Jaipur):

Moong prices traded lower by Rs 100-200 at Rs 6,300-6,700/100Kg as per quality at Jaipur market due to thin millers trade activity as demand and sale counter in processed Moong witnessed slow and also ongoing new arrivals in major states.

Buying from millers in good quality moong was seen to meet immediate requirement for crushing.

Similarly, Moong dal prices traded at Rs 8,700/100Kg depending on the variety.