Login ID:
Password:
Partner Login
Contact Us : 7066511911

Weekly: Most Pulses Weaken Amid Thin Activity Due to LockDown/Cash Crunch

4 May 2020 11:23 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commodities control) – Major pulses such as Tur, Urad, Masoor, Moong, Chana and White Pea slipped for the week ended 2 May, 2020 due to dull mill buying.

Demand and sale counter in processed pulses reported thin activity amid liquidity crunch.


Meanwhile, ample stock of pulses was reported at retail/wholesale counters as supply chain has improved after government supports farmers in helping deliver their produce in local markets, encouraging dal millers to resume production and ensure smooth movement of all trucks and carrier vehicles.

Trade activity was thin because of cash crunch and just 25-30% of market participation at the moment. Sections of major traders/millers are yet to start operating and were sidelined due to fear of corona virus.


Government agencies are strictly monitoring the prices of essential commodities in major markets.


However, lesser stock availability of old crops with government agency/ private traders and slower procurement activities of Nafed will support pulses prices. Moreover, demand deterioration in poultry/meats products is likely to result in increased consumption of pulses. It is also to be noted that pulses import will become costlier due to rupee depreciation as against USD.

Due to nationwide lock down, arrival of vessels and clearance of cargo at ports is hampered.

Pulses price fluctuation will depends on monsoon. However, IMD forecasts normal rainfall this year.

Burma Lemon Tur:

Tur prices of both imported and domestic variety slipped due to limited participation by the millers at prevailing rates, as demand and sale counter in processed Tur reported thin activity.

Meanwhile, mandi arrivals picked up in major local markets, but are still below expectation.

NAFED has procured 4,56,377.78 MT Tur at MSP of Rs 5,800/100Kg, as On April 30, 2020.

The government has allowed import quota of 4 lakh tonnes of Tur in the fiscal year 2020-21 only for millers and refiners.

Moreover, the government will buy 200,000 tn Tur from Mozambique in 2020-21 (April-March) on a bilateral basis.

Trade is of the opinion that Tur prices are likely to get support due to low carryover stock and empty pipeline. The millers/traders have been trading hand-to-mouth due to liquidity crunch and Government policy.

Tur

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

Lemon

5100

5150

5150-5175

5300

Akola

Desi

5550-5600

5725-5750

5550-5600

5825-5850

Gulbarga

Desi

5200-5300

Closed

Closed

5600-5700

Tur Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Akola

Phatka

8350-8400

8100-8300

8400-8600

8100-8300

Gulbarga

Phatka

8100-8500

Closed

Closed

8000

Katni

Phatka

8200-8300

8200-8300

8400-8500

8200-8300


Burma Urad:

Burma-Urad remained weak at Mumbai, Chennai, Delhi and Kolkata markets amid negligible buying activity from millers and traders due to slower offtake in processed Urad and expectation of overseas supplies within fortnight.

Moreover, summer crop arrivals of new Urad are expected to pick up pace in various states.


As per Burma-based trader, direct vessel is expected to arrive on 5th and 9th May, 2020. Another vessel is likely to load Urad for Chennai and expected to reach India before 15th May.


However, urad stock was reported to be limited, while overseas supply (from Burma to Chennai) continues to be slow paced.


Meanwhile, Supreme Court has pushed the date of hearing on pulses import restrictions till May 11, 2020.


DGFT extended the deadline for import of additional quota of 2.5 lakh tonnes Urad to May 15, 2020, against quota allocated for the year 2020-21. Earlier this date was 31st March which was extended to 30th April.


Urad

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai FAQ

FAQ

6600

6750

6700

4450

Chennai

FAQ

NA

NA

6850-6900

4400-4425

Chennai

SQ

NA

NA

7250-7300

5350-5375

Jalgaon

Desi

6600-7000

6750-7200

6700-7200

4600-5250

Guntur

Polished

Closed

Closed

Closed

5625

Urad Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Guntur

Closed

Closed

Closed

6700-6900

Mumbai

9500-10000

9500-10000

9500-10000

6250-6450

Chana Kantewala (Indore):

Chana prices slipped in domestic markets, amid cautious buying; just enough to meet their immediate requirements for crushing. Rise in arrivals and liquidity crunch add to the price pressure.


Even demand for chana dal and besan was lukewarm at wholesale/retail counters due to availability of sufficient stock.

Moreover NAFED's stock liquidation at selected states, holding major stock and higher output estimates will keep check on prices at upper level.

As on April 30th 2020, NAFED has successfully procured 2,50,272.7 MT of Chana at Minimum Support Price of Rs 4,875.

Chana

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

Australia

NA

NA

NA

4250

Tanzania

NA

NA

NA

NA

Burma

NA

NA

NA

4150

Indore

Katewala

4200-4225

4175-4200

4225-4250

4250

Delhi

Rajasthan origin

4250-4275

4300-4325

4225

4375

Akola

4150-4200

4250-4275

4075-4100

4400-4425

Bikaner

4200

4200

4100

4215

Chana Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Akola

5100-5400

5200-5500

5100-5300

5300-5800

Indore

5300-5500

5400-5600

NA

NA

Jaipur

5100

5125

5100

NA

Kabuli Chana

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Indore

40-42

NA

NA

NA

6400

42-44

NA

NA

NA

6200

44-46

NA

NA

NA

6000

Dollar

NA

NA

NA

5000-5600

Mumbai

Sudan

NA

NA

NA

4200

Ethiopia

NA

NA

NA

4200

Russia

NA

NA

NA

4150

Burma

NA

NA

NA

4450

Imported Masoor (Mumbai):

Both imported and domestic variety Masoor declined as millers refrained from purchasing at higher rates. Ongoing arrival of new crop in Madhya Pradesh and Uttar Pradesh is keeping a lid on price gains. Although mandi arrivals are below expectation.

Meanwhile, demand in processed masoor from consumption centres was reported to be thin amid cash crunch.


As per market view, Masoor prices are likely to get support from limited stock of ready imported Masoor, higher import parity and below expectation arrivals of rabi masoor crop due to nationwide lock down and lesser acreage.


Masoor

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

Canada

5600-5750

5800-5900

5700

3950-4100

Australia

5800-5850

6000

5750

4200

Mundra

Canada

5400

5700

5350

NA

Hajira

Canada

NA

5750

5450

NA

Kolkata

Canada

5800

5800-6000

5700-5900

4125

Australia

6000

6100-6200

6000-6100

4225

Indore

Desi

5500

5500

Closed

4000

Raipur

Desi

5400

5700-5750

5500

4200-4225

Kanpur

Desi

5475

5600

5350

4225-4250

Masoor Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Khopoli

7200-7300

7300-7400

7500-7600

4950-5050

Katni

NA

NA

NA

4825


Imported White Pea (Mumbai):

Prices of White Pea remained weak at Kanpur market due to arrivals of new crop and thin mills’ buying. However, arrivals were below expectation as major producing centers were closed in Uttar Pradesh.

The reason behind this dullness lies in the shift of White pea trading volume, as the preference stays with Chana/Kabuli Chana due to cheaper prices and easy availability.

No quotes of imported White pea were available in Mumbai/Kolkata from last couple of weeks due to lockdown and due to less stock.


The peas could not find support, despite tightness in ready stock.

White Pea

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

Canada

NA

NA

NA

4650

Kolkata

Canada

NA

NA

NA

4850

Kanpur

4700-4800

4875-4975

4750-4850

4650-4750

White Pea besan

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

3700

3700

3700

NA

White Pea Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Mumbai

7300

7300

7100

NA

Moong (Jaipur):

Moong prices traded lower, as per quality, due to new summer crop arrivals and dull mills’ buying at higher rates due to crushing disparity at higher rates, as demand in processed Moong was reported to be weak. Sellers were active in the market to liquidate their holding stocks at higher rates. Arrivals’ pace of new summer crop is likely to pick up soon in various states, Gujarat, Madhya Pradesh, Uttar Pradesh, Bengal and Bihar.

Meanwhile, the government has allowed import quota of 1.5 lakh tonnes of Moong in the fiscal year 2020-21, only for millers and refiners.

As per market trend, Moong prices will be pressurised in the short term as consumption demand is likely to suffer at higher rates. However, eventually lower output, low stocks with government agency/private traders along with smaller moth crop should support the prices.

Moong

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Jaipur

8800-8900

8800-9000

9300-9400

NA

Delhi

Rajasthan origin

8000-8600

8100-8700

8800-9500

6050-6750

Moong Dal

Market

Variety

02-May-20

25-April-20

18-April-20

02-May-19

Jaipur

10600-10700

10700-10800

11300-11500

NA

Gulbarga

12000

NA

NA

8300

Akola

NA

NA

NA

7000-7100





       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Special Reports
Weekly: Urad/Moong Weaken In Pulses Complex; Tur/Chana ...
Profit Booking Seen in Mumbai Pea; Support Near Rs 5650...
Myanmar Expects Bigger Pulse Harvest
Mumbai Pea Prices Set to Decline; Buying Recommended i...
Buying Opportunity in Delhi Chana Past Rs 4325 Resistan...
more
Top 5 News
Rise in Brazil’s Sugar Output May ‘topple’ Global Marke...
USD/INR (Jul ‘20) – Bearish Breakout from a Descending ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
Top 5 Market Commentary
Kharif Crop Acreage up 88% at 433 lakh ha
Imported Masoor Drops In Mumbai/Kolkata On Upcoming Ove...
NAFED Procures 795945.63 MT Mustard Seed In Rabi-2020 ...
NAFED Procures 2068.09 MT Groundnut In Rabi-2020 Season...
Rise in Brazil’s Sugar Output May ‘topple’ Global Marke...
Copyright © CC Commodity Info Services LLP. All rights reserved.