MUMBAI (Commoditiescontrol) – Urad, White/Green Pea remained firm for the week ended 18th January due to active traders' participation. While Tur, Chana/Kabuli Chana declined on sluggish buying by millers-traders and ongoing domestic arrivals. Masoor and Moong prices were muted on sparse trade activity.
Week Highlights
# India's Rabi pulses sowing up by 5.22 %, as on January 16, at 157.33 lakh hectare vs 149.53 lakh hectare during the same period last year.
# 2nd Advance Estimate: Karnataka Pegs 2019-20 Tur Output At 8.65 Lakh Tonnes, Down 11.4% from 9,76,000 tonnes in the previous year.
# Retail inflation rose to over five year high of 7.35 percent in December 2019.
# Jaipur HC Postpones Hearing On Pulses Import Restriction Till Jan 20, 2020 - Sources.
Burma Lemon Tur:
Tur Lemon variety of Burma-origin declined by Rs 100 at Rs 4,950/100Kg in Mumbai. Thin participation by the millers on limited crushing requirements weighed on prices.
Similarly, domestic Tur in bilty trade at Akola traded weak by Rs 200 at Rs 5,050-5,100/100Kg.
Regular arrival of domestic new Tur was reported at the producing centers. But, moisture content in the arriving crop is quite high. Millers preferred old domestic over new one, due to higher moisture content in the latter.
Even, demand and sale counter in Tur dal witnessed thin activity.
Millers have started delivering new, crushed Tur in Maharashtra, Gujarat and Karnataka.
As per trade sources, stockiest and government agency are not interested in purchasing new Tur with high moisture content. They will consider buying the new stock, after the moisture content reduces. New tur with lesser moisture content is expected to arrive between February-March.
Latur origin old Phatka variety traded at Rs 7,900-8,100/100Kg for spot. Gujarat origin Wasat old phatka variety was priced at Rs 8,300-8,500/100Kg, Khamgaon origin old Phatka variety was quoted at Rs 7,700-7,900/100Kg (spot).
Latur origin new Phatka variety traded at Rs 8,300-8,400/100kg for spot. Gujarat origin Wasat new Phatka variety at Rs 8,600/100Kg, Jalna origin new Phatka variety at Rs 8,400-8,700 (Spot) and Solapur origin old phatka variety at Rs 8,000-8,200/100Kg (Spot).
Burma Urad:
Burma Urad FAQ new/old variety traded marginally firm, each, at Rs 7,100/100Kg and Rs 6,950, respectively, at the Mumbai market amid millers' buying support, and diminishing domestic arrivals.
Demand and sale counter in processed Urad reported thin participation at prevailing rates.
Similarly, In Chennai, Urad FAQ/SQ traded higher by Rs 50 to Rs 7,400/100Kg and Rs 8,050, respectively in ready delivery as per condition.
Bulk buying was yet to be reported, as market awaits hearing at The Jaipur High court, scheduled on 20th January 2020, on Customs' non-clearance of urad containers imported against the stay order.
Buyers have been cautious eversince the government raised import quota of urad to 4 lakh tonnes, from 1.5 lakh tonnes, for the fiscal year 2019-20.
As per trade source, prices of Urad are likely to get support due to lower output, declining arrivals. Even the supply of Urad from Burma, under quota, is unlikely to reach Indian port before March end.
Bikaner origin branded Urad dal traded flat at Rs 9,400-9,600/100Kg for spot. Tiranga brand of Mumbai priced at Rs 9,900/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 9,400/100Kg for spot.
Chana Kantewala (Indore):
Chana prices traded lower by Rs 100 at Rs 4,250-4,275/100Kg in Indore amid guarded purchase by the millers at prevailing rates.
Sentiments are reeling under pressure due to improvement in Rabi Chana sowing,a which is up 10% so far as compared with last year same period. Government's stockholding Places lid on price gains.
Meanwhile, steady arrivals of new domestic Chana is witnessed in selected markets of Karnataka.
Demand in chana dal and besan from wholesaler/retailers' counters is slack.
In Mumbai, Tanzania origin Chana priced unchanged to Rs 4,300.
Similarly, Burma origin chana also rule steady at Rs 4,050/100Kg.
While, no quotes available of Australia origin Chana at Mumbai due to negligible stock.
Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.6 percent or Rs 25 down at Rs 4,262/100kg. Earlier, in the day, the contract hovered in the range of Rs 4,255 and 4,316 on Friday.
Open interest for NCDEX January contract decreased to 1050 lots against 1640 lots.
On other hand, open interest for NCDEX March contract increased to 23480 lots against 21740 lots.
Similarly, open interest for April contract also up to 2880 lots against 2780 lots.
Open interest of top 10 trading clients in the long side was 12060 MT whereas the short position of top ten clients was 14040 MT. The net position of top 10 clients was net short by 1980 MT.
Chana stocks at NCDEX accredited warehouses stood at 1092 metric tonnes (Bikaner 971, Jaipur 121) as on 16th January, the exchange data showed.
Old Domestic chana dal of Pistol brand ruled flat at Rs 5,400 for Spot, Angel brand at Rs 5,600 for Spot, Samrat brand at Rs 5,600 for Spot. While, Chana besan traded weak at Rs 3,130/50Kg.
New domestic Chana dal of Pistol brand traded at Rs 5,400 for Spot, Angel brand at Rs 5,700 for spot.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana remained steady to weak each at Rs 4,200/100Kg, Rs 4,250, Rs 4,200 and Rs 4,150, respectively due to slack trade activity owing to less interest shown by besan flour millers, following weak trend in Chana.
On other hand, Kabuli chana of 40-42, 42-44 and 44-46 counts traded firm by Rs 50-100 each at Rs 6,700/100Kg, Rs 6,500 and Rs 6,300, respectively at Indore market amid dull local buying activity at higher rates.
While, Dollar variety Kabuli Chana also declined by Rs 200 at Rs 5,500-6,100/100Kg at Indore.
In forward business, Russia Kabuli Chickpea offered at $450 per ton in container on CNF basis JNPT for January-February shipment.
Imported Masoor (Mumbai):
Canada crimson variety Masoor along with Australia Masoor remained unchanged at Mumbai pulses market as limited millers buying was witnessed despite limited stock.
Even demand in processed masoor from consumption centres was reported to be thin.
Canada origin red Masoor in container traded unchanged at Rs 5,000/100Kg.
Similarly, Australia origin red Masoor also ruled flat to Rs 5,050/100Kg.
Canada crimson variety Masoor also traded steady each at Rs 4,875/100Kg and Rs 4,800 at Mundra and Hajira port, respectively.
Canada Masoor dal Khopoli spot traded flat at Rs 5,850/100Kg.
However, as per market view, prices of Masoor likely to get support in near future due to cheaper pulses, sellers' reluctance to release their stocks, limited stock of ready imported Masoor, higher import parity and a lag in rabi masoor's acreage.
In forward business, Canada crimson variety masoor new offered at $550 per ton in container on CNF basis JNPT for Jan/Feb shipment.
Imported White Pea (Mumbai):
Canada-origin White Pea at Mundra port, along with Ukraine origin White Pea in Mumbai moved higher by Rs 100/100Kg amid lower level buying support and a lag in rabi White Pea's acreage.
Reason behind tightness of ready stock, lies with the White Pea containers being stuck at various ports due to non-issuance of Customs' clearance.
Moreover, Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.
However, prices unlikely to sustain at higher rates as the preference stays with Chana/Kabuli Chana due to its cheaper price and easy availability.
Even consumption demand and sale counter in Chana dal/besan reported thin despite cheaper prices.
Canada White Pea at Mundra port gained by Rs 100 to Rs 5,550/100Kg.
Similary, Ukraine White Pea in Mumbai moved higher by Rs 100 to touch Rs 5,600/100Kg.
Even prices of White Pea dal also traded firm following uptrend in raw White pea. Vatana dal also traded up at Rs 6,650. On other hand, Vatana besan traded flat at Rs 3,950/50 Kg.
Moong (Jaipur):
Moong prices traded unchanged at Rs 7,500-7,900/100Kg as per quality at Jaipur market due to thin buying activity at higher rates.
Trade activity was reported thin following weak sentiments in other pulses.
Millers' buying interest continues in good quality moong, just enough to meet immediate crushing requirements.
Moreover, Demand and sale counters in processed Moong reported slow.
Similarly, Moong dal also traded at Rs 9,500-9,600/100Kg depending on the variety.
At Naya bazaar market of Delhi, Rajasthan new kharif Moong traded at Rs 7,650-7,950/100Kg.
As per market view, prices of Moong likely to get further support by Rs 400-500/100Kg because of diminishing arrivals of Kharif moong and lower crop output.
As per trade sources, government may allocate quota to millers and refiners for moong import in near future due to lower output. However, import of moong in bulk quantity is unlikely due to higher import parity and limited stock in international markets.
Meanwhile, arrivals of new Moong has began in Kenya and arrivals of new moong will start from February end-March at Tanzania-Mozambique.
Canada Green Pea (Mumbai):
Canada origin Green pea moved higher by Rs 100 at Rs 10400-10500/100Kg at Mumbai due to limited ready stock and better buying activity.
IPGA urged the government to allow unrestricted import of dry green peas because the country would face shortage in the coming months. Fresh green peas are available at a lower price only between December-February, while in remaining period of the year, demand can be met through imports only.
The Customs Department is yet to issue clearance to the containers stuck at Mumbai ports, lending support to the pea.
Meanwhile as per trade sources, the Jaipur High court has further postponed the date of hearing on pulses import restrictions to January 20, 2020.
Prices gained sharply a few weeks back, after Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.
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(By Commoditiescontrol Bureau; +91-22-40015513)
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