MUMBAI (Commoditiescontrol) – All imported raw pulses, such as Tur, Urad, Chana, Masoor, Kabuli Chana, White Pea and Moong slipped for the week ended 8th February due to dull buying by millers and traders amid liquidity crunch and sluggish demand and sale counter in processed pulses. While, Green Pea moved higher on buying activity and shortage of ready stock.
Week Highlights
# Karnataka State Government would procure 20 Qtls of Tur from farmers at MSP. The government had earlier announced buying 10 Qtls of Tur at MSP.
# India's Rabi pulses sowing up by 6.19 % as on January 31 at 161.17 lakh hectare vs 151.78 lakh hectare during the same period last year.
# Tamil Nadu Urges Centre To Ease Import Restriction On Peas Through Thoothukudi Port.
# Customs Department May Quiz Importers On FTA Claims.
# Australian Lentil Export Climbs Over 200% In The MY. Shipments during the December month reached 76,395 metric tons (MT), up from 62,178 MT the prior month, Whereas the shipments during the marketing year, so far, stands at 138,573 MT, up 227% last year.
Burma Lemon Tur:
Tur Lemon variety of Burma-origin remained weak by Rs 50 at Rs 4,775-4,800/100Kg in Mumbai amid negligible trade activity as millers preferred to crush new domestic Tur.
Similarly, new domestic Tur in bilty trade at Akola also traded weak by Rs 175 at Rs 4,975-5,025/100Kg. Thin participation by the millers, due to limited crushing requirements, weighed on prices.
However the moisture content has started to subside in new arrivals.
Meanwhile demand and sale counter witnessed slow activity in Tur dal.
Availability of imported Tur dal Phatka variety at cheaper price, around Rs 6,200-6,300/100Kg, and Sava No variety at Rs 6,000-6,100 is pressurising sentiments.
Latur-origin new Phatka variety traded at Rs 7,800-8,000/100kg, for spot. Gujarat-origin Wasat new Phatka variety at Rs 8,300-8,500/100Kg, Jalna-origin new Phatka variety at Rs 8,100-8,300 (Spot), Khamgaon-origin newphatka variety at Rs 7,500-7,600/100Kg and Solapur-origin new phatka variety at Rs 7,600-7,700/100Kg (Spot).
As per trade view, stockiest are yet start purchasing Tur due to cash crunch. Risk level is less, at around Rs 150-200/100Kg, from existing prices. Local market players were active in purchasing new Tur for millers in Madhya Pradesh/ Chhatisgarh and other origin for crushing. Stockiest and bulk buyers will likely commence purchases of new Tur at lower rates.
Meanwhile, Government has started procuring Tur as the moisture content continues to reduce further.
Burma Urad:
Burma-Urad FAQ new/old variety ruled weak by Rs 300-325, each, at Rs 6,600-6,625/100Kg and Rs 6,400-6,425, respectively, at the Mumbai market due to lack of buying support and sluggish offtake in processed Urad amid liquidity crunch.
Similarly In Chennai, Urad FAQ/SQ also slipped by Rs 300-400 to trade at Rs 6,900/100Kg and Rs 7,575-7,600, respectively, in ready delivery as per condition.
Buyers have been vigilant in ready trade at prevailing rates, tracking weak prices in forward deals in Chennai.
NAFED commenced sale of Urad, in MP, Rajasthan, AP, Gujarat and TN, that was procured under Price Support Scheme.
In forward business at Chennai, Urad SQ variety is quoted at Rs 6,600-6,625/100Kg for whole March delivery, sellers' option against 100% advance payment condition.
In Burma, as per local traders, direct vessel carrying Urad cargo has set sail for India (Chennai).
2 direct vessels are expected to load Urad cargo for India (Chennai and Kolkata) on 13th-14th February.
Meanwhile, Jaipur high court has postponed hearing, on pulses import restriction, till February 10, 2020 for Customs clearance issue to containers of urad, which was imported against the stay order.
DGFT allocated 139 tonnes of quota per miller, for a total of 2.5 lakh tonnes of Urad imports.
As per trade source, Urad prices are likely to get support due to lower output, shrinking domestic arrivals. Total supply of Urad from Burma, under quota, is unlikely to reach Indian ports before March-end due to delay in paper work.
Tikamgarh-origin Urad gota variety was priced at Rs 9,400/100kg for Chennai delivery and Rs 9,200-9,300/100Kg for Andhra Pradesh delivery as per quality. Jalgaon-origin gota variety quoted at Rs 9,400-9,500/100Kg (spot). Guntur-origin Urad gota in spot traded at Rs 9,400/100Kg.
Bikaner-origin branded Urad dal traded lower at Rs 9,000-9,200/100Kg for spot. Tiranga brand of Mumbai priced at Rs 9,500/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 9,000/100Kg for spot.
Chana Kantewala (Indore):
Chana prices traded weak by Rs 150 at Rs 3,950/100Kg in Indore following weak cues from futures and NAFED selling its old procured stock, below Rs 4,000/100Kg, in selected states.
Government continues to hold major stocks of old Chana at around 16,36,693.06 MT as On 6th February, 2020.
Good crop and availability of new domestic Chana in Maharashtra/Karnataka, below Rs 4,000, is dragging down price.
Meanwhile arrived Chana in Karnataka holds moisture content of around 11 to 15%.
Regular demand and sale counter in Chana dal/besan was witnessed due to ongoing marriage season. Chana dal is much cheaper compared to Vatana dal and Lakhadi dal.
In Mumbai, Tanzania-origin Chana declined by Rs 50 to Rs 3,950. While Burma origin chana also fell by Rs 50 at Rs 3,750/100Kg.
Chana for March delivery on National Commodity and Derivatives Exchange (NCDEX), ended lower by 0.9 percent or Rs 35 down at Rs 3,881/100kg. Earlier, in the day, the contract hovered in the range of Rs 3,862 and 3,907 on Friday.
Open interest for NCDEX March contract decreased to 22920 lots against 23050 lots.
On the other hand, open interest for April contract increased to 17120 lots against 14990 lots.
Open interest of top 10 trading clients in the long side was 16180 MT whereas the short position of top ten clients was 27260 MT. The net position of top 10 clients was net short by 11080 MT.
Chana stocks at NCDEX accredited warehouses reported nil.
New Domestic chana dal of Pistol brand ruled flat at Rs 5,000 for Spot, Angel brand at Rs 5,400 for Spot, Samrat brand at Rs 5,400 for Spot. On other hand, Chana besan traded weak at Rs 3,000/50Kg.
In Mumbai, Russia/Sudan/Ethiopia/Burma-origin kabuli chana slipped by Rs 50-100 each at Rs 3,900/100Kg, Rs 3,975, Rs 3,900 and Rs 3,800, respectively, due to dull trade activity. Liquidity crunch owing to lesser interest shown by besan flour millers and weak trend in Chana prices are weighing upon imported Kabuli Chana prices.
Similarly, Kabuli chana of 40-42, 42-44 and 44-46 counts fell by Rs 200 each at Rs 6,300/100Kg, Rs 6,100 and Rs 5,950, respectively at Indore market amid dull local buying activity at higher rates.
While, Dollar variety Kabuli Chana also declined by Rs 200 at Rs 5,300-5,800/100Kg at Indore.
As per market view, millers will most likely purchase new Chana as it trades under Rs 4,000/100Kg, instead of old NAFED procured Chana or imported variety. Availability of new Chana at lower prices will drag Chana prices down further.
Imported Masoor (Mumbai):
Canada crimson variety Masoor along with Australia Masoor dipped by Rs 125-150/100Kg respectively at Mumbai pulses market as millers refrained from making purchases at prevailing rates and following weak cues from other pulses.
Even demand in processed masoor from consumption centres was reported to be slack.
Canada-origin red Masoor in container traded lower by Rs 125 at Rs 4,725/100Kg.
Similarly, Australia-origin red Masoor lost Rs 150 to trade at Rs 4,800/100Kg.
Canada crimson variety Masoor traded down at Rs 4,550/100Kg and Rs 4,575 at Mundra and Hajira port, respectively.
Canada Masoor dal Khopoli spot traded weak by Rs 100 at Rs 5,700/100Kg.
As per market view, Masoor prices are likely to find support at lower rates in near future due to millers buying support. Sellers' reluctance to release their stocks at lower rates will be added support for the pulse prices. Limited stock of ready imported Masoor, higher import parity and lag in sowing of rabi masoor are other bullish factors, as well.
In forward business, Canada crimson variety masoor new offered at $510 per ton in container on CNF basis JNPT for March/April shipment.
Imported White Pea (Mumbai):
Canada-origin White Pea at Mundra port, along with Ukraine- origin White Pea, in Mumbai market, declined by Rs 150-200/kg, respectively, amid dull buying and following weak trend in Chana.
The peas could not find support, despite tightness in ready stock.
The reason behind this dullness lies in the shift of White pea's trading volume, as the preference stays with Chana/Kabuli Chana due to cheaper prices and easy availability.
Even consumption in Chana dal/besan was reported to be thin, despite lower prices.
However, imports are unlikely as Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.
White Pea containers continue to be stuck at various ports due to non-issuance of Customs' clearance.
Canada White Pea at Mundra port dropped by Rs 200 to Rs 5,500/100Kg.
Similarly, Ukraine White Pea in Mumbai dipped by Rs 150 at Rs 5,450/100Kg.
Even prices of White Pea dal traded lower following downtrend in raw White pea. Vatana dal traded weak at Rs 6,600. On the other hand, Vatana besan traded flat at Rs 3,950/50 Kg.
Moong (Jaipur):
Moong prices traded lower by Rs 100-200 at Rs 7,300-7,500/100Kg, as per quality, at Jaipur market due to muted buying activity.
Trade activity was reported to be thin following weak sentiments in other pulses.
However the prices weren't supported, despite diminishing arrivals of Kharif moong.
Millers' buying interest continues in good quality moong, just enough to meet immediate crushing requirements.
Moreover, Demand and sale counters in processed Moong were reported to be slow.
At Naya bazaar market of Delhi, Rajasthan new kharif Moong traded at Rs 7,500-7,800/100Kg.
Nafed commenced sale of Moong, in MP, Rajasthan, AP, Telangana, Gujarat, Karnataka, TN, Haryana which was procured under Price support Scheme.
As per trade sources, prices of Moong likely to get further support at lower rates because of diminishing arrivals of Kharif moong, lower crop output, neglgible stock of imported Moong and higher import parity.
Meanwhile, arrivals of new Moong has begun in Kenya and arrivals of new moong will start from February-end/March in Tanzania-Mozambique.
Canada Green Pea (Mumbai):
Canada-origin Green pea moved higher by Rs 300 at Rs 11600-11800/100Kg at Mumbai due to limited ready stock and regular buying activity.
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 February 10, 2020.
Also, Government had 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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