MUMBAI (Commodities control) – Imported Urad, Masoor and Tur slipped the most in pulses complex for the week ended 16th May due to slack trade activity and ample supply amid ongoing domestic arrivals. Meanwhile desi Moong, Masoor and Tur traded higher amid millers buying activity, despite ongoing arrivals. On the other hand, Chana prices traded almost range bound amid cautious mill buying and fresh arrivals.
Meanwhile, trade activity was affected due to cash crunch and limited market participation due to restricted market activity during COVID-19 .
Traders await Government's decision post 17th May wrt lock down, hoping for more relaxations.
As expected, profit margin in crushing raw pulses is reduced as prices of processed pulses slipped from higher rates due to sufficient availability at counters and slowdown in demand from consumers due sufficient quantities of stocks with them.
Week Highlights
#3rd Advance Estimates: India's Pulses Production At 23.01 Million Tonnes In 2019-20. # Food Grain Output Likely to Touch Record 296 Mn T for 2019-20: 3rd Advance Estimates.# Monsoon expected to arrive in Kerala on 5th June - IMD. Normally the onset takes place on June 1st. Last year monsoon arrived in India via Kerala on June 8th. India is expected to receive normal rainfall this year. # Reduce Interest Rate On Pulse Mills, Registered MSMEs To 6%: Pulse Mills Association Urge To Government. # Agriculture community and traders in Rajasthan stand divided over the issue of Kisan Kalyan Fees. Traders are agitated over not being consulted before Rajasthan Khadya Padarth Vyapar Sangh decided to call off the state level strike. # State Agri Dept Forecasts Kharif Acreage Over 22 Lk Hec In North Maharashtra. # Lentil exports from Canada so far in the marketing year has risen 208,371 metric Tons (MT) to 15,37, 203 MT, according to the recent data from Statistics Canada. # Green lentil exports for the current marketing year so far is reported to be 82,516 MT higher, at 326,688 MT from the same period last MY, according to the most recent data from Statistics Canada.
3rd Advance Estimates Pulses (In Million Tons)
Commodity
Season
2019-20 (3rd Est)
2019-20 (2nd Est)
2018-19
Target 2019-20
Tur
Kharif
3.75
3.69
3.32
4.6
Chana
Rabi
10.9
11.22
9.94
11.6
Masoor
Rabi
1.44
1.39
1.23
0
Urad
Kharif
1.72
1.72
2.36
2.9
Rabi
0.61
0.53
0.7
0.8
Urad Total
2.33
2.25
3.06
3.7
Moong
Kharif
1.78
1.77
1.78
1.6
Rabi
0.56
0.5
0.67
0.7
Moong Total
2.34
2.27
2.46
2.3
Other
Kharif
0.79
0.73
0.63
1
Rabi
1.45
1.47
1.45
3.1
Total
Kharif
8.05
7.92
8.09
10.1
Rabi
14.97
15.11
13.98
16.2
Total Pulses
23.01
23.02
22.08
26.3
Burma Lemon Tur:
Desi turin domestic market gained by Rs 50/100Kg due to fresh mills buying activity at lower rates as some demand and sale counters in processed pulses were witnessed in Wholesale/retail counters.
Meanwhile arrivals continue to be below expectation in local markets due to labour shortage as most of the migrant labour has left for their hometowns.
On the other hand, Tur Lemon variety of Burma-origin was priced weak by Rs 75/100Kg in Mumbaiamid slack demand from millers, despite firm trend in domestic market.
Negligible buying from mills in imported Tur is the major reason, as millers' prefer domestic variety due to better quality and lower transportation costs from nearby mandi, over imported lemon tur which is to be transported from ports, located at further away leading to higher transportation cost.
Moreover, ggovernment agency is actively selling old raw Tur in Maharashtra to mills for milling purpose, packaging and supply of processed Tur under PDS.
NAFED Procures Over 480436.79 MT (PSS)/ 125337.98 MT (PSF) Tur In Kharif-2019 Season So Far.
According to the third advance production estimate, tur production in 2019-20 is estimated at 3.75 million MT, which 18.48 percent lower than production target of 4.6 million MT. However, it is slightly higher than the 2018-19 estimate of 3.32 million MT.
In near term, Tur prices are likely to trade in the range of Rs 200-300/100Kg from current prices due to matching demand and supply.Further price direction will depend on monsoon forecast and next move by government on lock down.
Tur ( Prices In Rs /100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
Lemon
5025
5100
5100
5500
Akola
Desi
5525-5550
5475-5500
5550-5600
6100-6125
Gulbarga
Desi
Closed
5000
5200-5300
5800-6000
Tur Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Akola
Phatka
7800-7900
7700-7900
8350-8400
8400-8600
Gulbarga
Phatka
Closed
7500-7900
8100-8500
8400
Katni
Phatka
8100-8200
8000-8100
8200-8300
8500-8600
Burma Urad: Burma Urad dropped by Rs 100-150/100Kg, at major markets, such Mumbai, Chennai and Delhi as sellers were active in the market amid sluggish offtake in processed Urad, and liquidity crunch.
Upcoming overseas supplies at Chennai port and summer crop arrivals in Gujarat/Madhya Pradesh are pressurising buyer sentiments.
Bumper summer crop is expected as compared to last year and pace of arrival is likely to rise within a fortnight. Quality is reported to be good and buyers from southern markets have been active in the market.
Moreover, DGFT extended the deadline for import of additional quota of 2.5 lakh tonnes Urad to May 31, 2020, against quota allocated for the year 2019-20.
Meanwhile, Supreme Court has pushed the date of hearing on pulses import restrictions till July 10, 2020. Jaipur High Court has ordered to shift all cases to Supreme Court, so hearing can be at one place.
As per traders, regular upcoming supply from overseas and matching demand will keep Urad prices range bound
Urad ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai FAQ
FAQ
6450
6600
6600
4850
Chennai
FAQ
6550-6575
NA
NA
4775
Chennai
SQ
7000
NA
NA
5900
Jalgaon
Desi
6700-7150
6700-7100
6600-7000
4800-5400
Urad Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
9000/9500
9500-10000
9500-10000
6400-6600
Chana Kantewala (Indore):
Chana prices traded almost unchanged in domestic markets, amid limited mill buying to meet their immediate crushing requirements, ongoing arrivals.
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 a check on prices.
As on May 13, 2020, NAFED has successfully procured 424102.23 MT of Chana at Minimum Support Price of Rs 4,875.
As per market experts, Chana prices are unlikely to fall much in near future. Meanwhile, prices are trading in a narrow range at spot markets due to lockdown resulting in labour shortage and transportation concerns, despite relaxations assured by government. Trade activity is thin because of cash crunch and limited participation of traders and millers, as just 25-30% market participants are active in the market. Daily arrivals of new rabi crop are still below expectation. Ongoing procurement by government agency will support prices at lower rates. Even zero import quota of yellow peas for the current fiscal will aid price gains.
Chana ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
Australia
NA
NA
NA
4475-4500
Tanzania
NA
NA
NA
NA
Burma
NA
NA
NA
4450
Indore
Katewala
4100-4125
4100-4125
4200-4225
4575-4600
Delhi
Rajasthan origin
4200
4175-4200
4250-4275
4700
Akola
4025-4050
4050-4075
4150-4200
4650-4675
Bikaner
NA
NA
4200
4500
Chana Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Akola
5100-5400
5100-5400
5100-5400
5500-6000
Indore
5400-5600
5400-5600
5300-5500
NA
Jaipur
5050
5075
5100
5600
Chana Besan ( Prices In Rs / 50Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
3130
3160
3160
NA
Kabuli Chana ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Indore
40-42
NA
NA
NA
6450
42-44
NA
NA
NA
6250
44-46
NA
NA
NA
6050
Dollar
NA
NA
NA
5200-5700
Mumbai
Sudan
NA
NA
NA
4500
Ethiopia
NA
NA
NA
4475
Russia
NA
NA
NA
4450
Burma
NA
NA
NA
4700
Imported Masoor (Mumbai):
Canada crimson variety and Australia origin Masoor slipped byRs 100-200/100Kg at Mumbai and Kolkata, as millers refrained from purchasing at prevailing rates due to deteriorating crush margins, consistent supplies from overseas at Mumbai/Hazira port and liquidity crunch.
Moreover, demand and sale counter in processed Masoor reported thin activity at higher rates due to availability of sufficient stock at wholesale/retailer counters.
On the other hand, domestic Masoor traded higher by Rs 50-150/100Kg at domestic market of Madhya Pradesh, Uttar Pradesh and Chhattisgarh amid local and outstation mills buying and below expectation arrivals.
As on May 14, 2020, NAFED has successfully procured 74.07 MT of Masoor at Minimum Support Price of Rs 4,800.
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 lockdown and lesser acreage.
Masoor ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
Canada
5600-5700
5700-5800
5600-5750
4050-4150
Australia
5800
5900
5800-5850
4250
Mundra
Canada
5475-5500
5575
5400
NA
Hajira
Canada
NA
NA
NA
NA
Kolkata
Canada
5500-5600
5800
5800
4250
Australia
5700
5950
6000
4350
Indore
Desi
5300-5350
5300
5500
4250-4275
Raipur
Desi
5500
5325-5350
5400
4325
Kanpur
Desi
5575
5500
5475
4550
Masoor Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Khopoli
7100
7200-7300
7200-7300
5050-5150
Katni
NA
NA
NA
4950-5000
Imported White Pea (Mumbai):
Prices of White Pea were quoted weak by Rs 50/100Kg at Kanpur market amid thin mill buying and ongoing arrivals. Moreover, major markets of Uttar Pradesh reopened after government relaxation in lockdown.
However, thin trading volume was witnessed as millers preferred to stay with desi Chana/Kabuli Chana due to cheaper prices and easy availability.
No quotes of imported White pea were available in Mumbai/Kolkata from over a month due to lockdown and negligible stock.
White Pea ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
Canada
NA
NA
NA
4850
Kolkata
Canada
NA
NA
NA
5150
Kanpur
4675-4775
4725-4825
4700-4800
5050-5150
White Pea besan ( Prices In Rs / 50Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
3700
3700
3700
NA
White Pea Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Mumbai
7400
7400
7300
NA
Moong (Jaipur):
Moong prices traded higher by Rs 150/100Kg at Jaipur market of Rajasthan, as per quality on millers demand and less stock of kharif output with private traders/government agency.
Moreover negligible arrivals were reported as major mandis in Rajasthan continue to be shutover the issue of Kisan Kalyan Fees.
Arrivals of new Moong are witnessed in Madhya Pradesh, Cuttack and Gujarat. The Commodity is traded higher due to local and outstation millers’ buying support.Buyers from Gujarat, Delhi and Punjab were active in purchasing Moong from Madhya Pradesh markets.
Arrivals' pace of new summer crop is likely to pick up soon in various states.Sowing of summer crop in Madhya Pradesh/Gujarat is higher as compared to last year due to higher MSP prices, increased water availability following good monsoon last year and lower output of Kharif Moong.
Millers prefer to purchase new moong from various states for immediate requirement for crushing.
Arrivals of new summer crop is likely to be delayed in Bihar/Jharkhand due to recent rains in the producing regions.
However, stockiest are sidelined at current higher prices.
As on May 14, 2020, NAFED has successfully procured 65.43 MT of Moong at Minimum Support Price of Rs 7,050.
Moong ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Jaipur
9000-9300
9000-9150
8800-8900
5800-6300
Moong Dal ( Prices In Rs / 100Kg )
Market
Variety
16-May-20
09-May-20
02-May-20
16-May-19
Jaipur
10700-10800
10500-10600
10600-10700
7700-7800
Gulbarga
NA
11200
12000
8400
Akola
NA
NA
NA
7500-7800
(By Commoditiescontrol Bureau; +91 9820130172)
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