Weekly: Pulses Weakens On Listless Demand In Dals, Liquidity Crunch

MUMBAI (Commoditiescontrol) – Major pulses such as Tur, Urad, Masoor, Chana, Kabuli Chana and White Pea slipped during the week ended Saturday (Nov 18-23 ) on dull buying support amid liquidity crunch. While, Green Pea moved higher on fresh low level buying activity. On other hand, Moong traded steady on limited mills demand.

Week Highlights

# India's Rabi pulses sowing was down by 19.27% as on November 22 to 71.26 lakh hectare vs 88.27 lakh hectare during the same period last year.
# Maharashtra Guv announces Rs 8,000 Cr Relief Package For Farmers.
# Canada's Pea Exports May Rise 4.71% To 3.4 Million Tonnes In 2019-20.

Burma Lemon Tur:

Tur Lemon variety of Burma origin continued to trade lower by Rs 200 at Rs 4,950/100Kg in Mumbai amid dull trade volume due to average quality and cash crunch.

Similarly, domestic Tur in bilty trade at Akola also traded weak by Rs 100-125 at Rs 5,650-5700/100Kg.

Demand and sale counters in Tur dal was reported sluggish from retail/wholesale counters.

Sentiments are under pressure as harvesting of new domestic Tur in Karnataka expected from mid of December month onwards and hopes for no more rain. Overall Tur crop condition is good and crop may be delayed by about a month.

However, yield of Tur in Karnataka is likely to be low in some areas and impact on quality cannot be ruled out due to unseasonal and excess rainfall.As per local traders in some areas Tur crop has turned black.

Buyers were cautious due to supply from overseas, stocks in hands of private traders and also Nafed holding old procured stock.

Latur origin new Phatka variety declined by Rs 200-300 at Rs 8,100-8,300/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,500-8,700/100Kg, Khamgaon origin new Phatka variety at Rs 8,000-8,200/100Kg (spot), Jalna origin new phatka variety at Rs 8,400-8,600/100Kg (spot) and Solapur origin new phatka variety at Rs 8,100-8,200/100Kg (Spot).

Burma Urad:

Burma Urad FAQ new/old variety widened losses by Rs 600-650 each to Rs 7,100/100Kg and Rs 6,950, respectively at the Mumbai market as buyers were cautious in purchasing at prevailing rates amid liquidity crunch, overseas supply, slow off-take in processed Urad and also waiting for Jaipur High court hearing on pulses import restrictions on 27th November.

Similarly, In Chennai, Urad FAQ/SQ moved lower by Rs 500-550 to Rs 7,450/100Kg and Rs 8,250-8,300, respectively in ready delivery as per condition.

New arrivals of Urad likely to began from month end in Nandyal ( Kurnool district) and Rajahmundry (East Godavari District) of Andhra Pradesh.

Buying interest from millers, speculators and stockiest were seen in purchasing imported Urad at lower rates on immediate requirement for crushing and also believe that supplies will not be sufficient to meet the domestic demand as arrival has failed to gather pace and quality is also not satisfactory. In this situation they have to depend on imported urad.

Bikaner origin branded Urad dal slipped at Rs 9,800-10000/100Kg for spot. Tiranga brand of Mumbai also traded lower at Rs 10200/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 9,500/100Kg for spot.

Chana Kantewala (Indore):

Chana prices eased at Rs 4,350/100Kg in Indore due to slack millers demand amid liquidity crunch as actual demand in chana dal and besan from wholesaler, retailer counters is sluggish.

Moreover, sentiments are still under pressure as Nafed holding major stock and planning to sell procured stock around 10 lakh tonnes state wise in next three month.

Australia origin Chana in ready business at Mumbai fell by Rs 100 at Rs 4,300/100kg due to average quality supply despite very limited availability.

Similarly, Tanzania origin Chana also declined by Rs 125-150 to Rs 4,250-4,275.

Burma origin chana also remained weak by 75 at Rs 4,351/100Kg.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX), settled higher by 0.9 percent or Rs 42 up to Rs 4,503/100kg. Earlier, in the day, the contract hovered in the range of 4,449 and 4,515 on Friday.

Open interest for NCDEX December contract increased to 45750 lots against 44010 lots.

Similarly, open interest for January contract also up to 21610 lots against 19960 lots.

Open interest of top 10 trading clients in the long side was 38720 MT whereas the short position of top ten clients was 36840 MT. The net position of top 10 clients was net long by 1880 MT.

Chana stocks at NCDEX accredited warehouses stood at 7634 metric tonnes (Indore: 30, Bikaner 5,236, Jaipur 2,368) as on 21st November, the exchange data showed.

Australian chana dal remained weak by Rs 200 at Rs 5,200/100 Kg for spot. Domestic chana dal of Pistol brand also ruled weak at Rs 5,400 for Spot, Angel brand at Rs 5,600 for Spot, Samrat brand at Rs 5,600 for Spot. Chana besan also traded weak at Rs 3,125-3,150/50Kg.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana slipped by Rs 50-100 each at Rs 4,250-4,275/100Kg, Rs 4,275-4,300, Rs 4,200-4,225 and Rs 4,350, respectively amid dull buying from besan flour millers at higher rates, following weak cues in Chana despite cheaper prices as compared to White Pea.

Kabuli chana of 40-42, 42-44 and 44-46 counts ruled flat each at Rs 6,550/100Kg, Rs 6,350 and Rs 6,200, respectively at Indore market amid limited local buying activity.

Dollar variety Kabuli Chana slipped by Rs 300 at Rs 5,200-6,000/100Kg at Indore on slack trade activity.

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

As per trade sources, Chana prices trend in spot market depends on sowing figures, weather condition in Chana producing areas, imports of kabuli Chana at cheaper prices and also on Nafed policy on liquidation old procured stock.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel/container along with Australia Masoor ruled weak by Rs 25-50/100Kg at Mumbai due to slow millers trade activity amid cash crunch, fresh supply in bulk vessel from Canada at Mundra port and following weak cues in other pulses.

Canada origin red Masoor in vessel/container traded down by Rs 25-50 each at Rs 4,300/100Kg and Rs 4,400, respectively.

Similarly, Australia origin red Masoor also ruled weak by Rs 50 to Rs 4,450/100Kg.

Canada Masoor dal Khopoli spot traded at Rs 5,200/100Kg.

Prices of Masoor likely to get support as rabi Masoor sowing lagging behind by 16.68%, hike in MSP, increased in consumption due to cheaper pulses and no supply pressure from overseas in Mumbai.

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 widened losses at Mumbai because of slow trade activity from local and outstation traders/millers at prevailing rates and supply from Vessel M.V. Darya Mahesh carrying 24815 tonnes of Canada White Pea at Mumbai port.

Canada and Ukraine White Pea fell by Rs 40-50 each at Rs 4,621/100Kg and Rs 4,500, respectively.

Moreover, demand in matar dal/besan was thin at prevailing rates. Vatana besan fell by Rs 50 at Rs 3,051/50 Kg. Vatana dal also lower by Rs 250 at Rs 5,300.

Crushing in Chana/Kabuli Chana has increased due to cheaper prices and easy availability compared to White Pea.

Moong (Jaipur):

Moong prices traded almost flat at Rs 6,500-6,800/100Kg as per quality at Jaipur market due to limited millers trade activity from local and outstation only to meet immediate requirement due to cash crunch and amid slack demand and sale counters in processed Moong.

Farmer were less interested to sell their product to government at MSP of Rs 7,050/100Kg as price difference between MSP and market prices was very less.

Similarly, Moong dal prices steady at Rs 8,600-8,700/100Kg depending on the variety.

In Delhi, Rajasthan new kharif Moong priced eased at Rs 6,500-6,900/100Kg.

Canada Green Pea (Mumbai):

Canada origin Green pea moved higher at Rs 7,600-7,900/100Kg at Mumbai amid better buying activity against limited ready stock.

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