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Weekly: Sentiments in Pulses Weaken On Govt Intervention To Curb Prices

2 Nov 2020 10:07 am
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MUMBAI (Commodities control) – Tur, Urad and Masoor slipped for the week ended 31st October, due to dull mill buying as demand and sale counters in processed pulses reported sluggish activity. On the other hand, Chana and Moong prices were almost unchanged on limited trade activity, while White Pea traded mixed amid thin trade volume.

Steps Being Taken to Moderate Prices of Pulses - Shri Piyush Goyal

There has been retail intervention in three pulses, viz. Moong, Urad and Tur Dal by supplying pulses from buffer stocks to States/UTs. 2 LMT of Tur from the buffer stock is to be disposed through open market sale in the next 15 Days. To ensure smooth domestic supply, the government has extended the time-limit for import of 4 lakh tonnes of tur dal till December. Licenses have been issued for import of 1.5 lakh tonnes of urad, and import duty of 10 per cent on masoor will continue till December-end. The government has also decided to extend memorandum of understanding (MoU) with Mozambique for import of 2 lakh tonnes of tur for another five years and also to enter into a five-year MoU with Myanmar for import of 2.5 lakh tonnes of urad.

Area Under Rabi Crop Cultivation Expected To Be Higher Due to Prices Hovering Above MSP. Uttar Pradesh: Sowing of Chana/Masoor/White pea is likely to begin within 8-10 days. Sowing of White Pea and Chana is likely to be higher as compared to Masoor. However, income of farmers/traders has increased due to better prices. Chana/Masoor prices traded above MSP. Madhya Pradesh: 50% sowing has already been done in Chana/Masoor/Batri/Tevda & rest will be completed within 10-12 days. Rajasthan (Pratapgad): ongoing sowing of Chana/Masoor was reported. Area is likely to increase due to better prices. Favourable weather conditions will pave way for better yield of rabi crop; beginning from 1st week of February. Sowing depends on the winter conditions, as cooler temperatures with good water content in the soil improves the yield. Higher prices encourage sowing.

Weekly Highlights

# The Telangana government is planning to triple the red gram acreage to 20-25 lakh acres, as new projects bring in additional irrigation facilities. The State, which traditionally grows red gram on about 7.60 lakh acres in the kharif, had increased the acreage to 10.76 lakh acres in the last kharif.

Burma Lemon Tur:

Tur Lemon variety of Burma-origin new slipped for third straight week by Rs 500/100kg to Rs 6,500/100Kg, in Mumbai, as resellers in raw and processed Tur were active during the entire week in markets.

In forward trade, commodity was quoted weak to Rs 6,200 for November delivery.

Similarly, domestic variety Tur traded lower by Rs 550 to Rs 6,850-6,900/100Kg at benchmark market Akola.

Sentiments dampened as Government extended validity of license for Tur import of 4 Lakh MTs from November 15, 2020, till December 31 this year. This will raise the supplies of Tur from overseas markets.

Demand and sale counter in processed Tur is still thin at consumption centers, despite higher vegetables prices.

However, there were indications in spot market that some demand from millers is emerging, for crushing at lower prices.

As per market talk, fluctuation in Tur prices depends on Government agency's approval of Tur tender bids in the coming days.

Meanwhile, regular supply from Mozambique and Sudan Tur was reported.

As per Burma based local trader, no buyers from India were active in Tur. Five direct vessels (2 break bulk & 3 container vessels) for India carrying around 50,000 MT Tur are likely to set sail soon. All these Vessels will reach India on 13th November. One vessel expected on 7th November has been cancelled.

Tur ( Prices In Rs /100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai Lemon 6500 6900 7100 5000
Akola Desi Bilty 6850-6900 7400-7450 7800-7850 5825-5850
Gulbarga Desi NA NA NA 5500-5600
Tur Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Akola Phatka 9900-10100 10500-10600 10500-10700 8000-8200
Gulbarga Phatka NA NA NA 8000-8400
Katni Phatka 9900-10000 10400-10500 10600-10700 8300-8400


Burma Urad:

Price of Burma Urad FAQ new variety weakened by Rs 100 at Rs 7,700/100Kg, in Mumbai, due to slack millers' trade, ongoing domestic arrivals and dull offtake in processed Urad.

Similarly in Chennai, Burma Urad FAQ variety fell Rs 50-100 at Rs 7,800-7,850/100Kg, while, SQ variety was unchanged to Rs 8,900/100Kg.

However, there's no arrival pressure of new crop yet. Arrivals of superior quality Urad is less as compared to average/damaged quality. Superior quality Urad traded at premium prices.

Sentiments are still under pressure as Government has taken several steps in cooling off rising prices by giving import quota, liquidating old procured stocks and releasing buffer stock at subsidized rates to the states for retail sale.

As per the notification each eligible and verified importer shall be allowed to import 97 MTs approximately.

The government has entered a five-year MoU with Myanmar for import of 2.5 lakh tonnes of urad.

As per market view, prices are likely to get support due to no overseas supply pressure, damage to yield and quality of domestic Urad, limited carry over stock with government/private traders.

Urad ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai FAQ FAQ 7700 7800 7800 7000
Chennai FAQ 7800-7850 7900 7850 7150-7200
Chennai SQ 8900 8900 9000-9050 7800-7850
Jalgaon Desi 7450-7875 NA NA 6750-7000
Urad Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai 9800-10500 10300-10800 10300-10800 8500-9000


Chana Kantewala (Indore):

Chana prices traded flat at Rs 5,200-5,225/100Kg in Indore, amid thin mill buying, supply of Chana/Kabuli Chickpea from overseas.

According to the traders, buyers were willing but only at discounted prices. Thin purchases were reported; just enough to meet the immediate crushing requirements.

Market is very cautious about entering long position in spot markets and is waiting for demand boost at dals and besan counters.

Considering festive demand ahead, current prices are reasonably placed to attract buyers looking to reimburse their stocks.

NAFED has suspended all Chana sell auctions till further notice.

In Mumbai, Tanzania-origin Chana ruled weak by Rs 50 at Rs 5,150/100Kg, due to supplies from its origin.

Similarly, Sudan and Russia-origin Kabuli Chickpea fell Rs 50, each, at Rs 5,350 and Rs 5,250, respectively.

Chana ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai Australia NA NA NA 4300
Tanzania 5150 5200 5250 4300
Burma NA NA NA 4250
Indore Katewala 5200-5225 5200 5325-5350 4425
Delhi Rajasthan origin 5325 5250 5425 4600
Akola 5325-5350 5250-5300 5500-5525 4625-4650
Bikaner 5150 5100 5250-5275 4400
Chana Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Akola 6200-6800 6000-7000 6500-7200 5000-5700
Indore 6400-6800 6400-6800 6500-7000 NA
Jaipur 6225 6200-6225 6350 5450
Chana Besan ( Prices In Rs / 50Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai 3750 3750 3850 3130
Kabuli Chana ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Indore 40-42 NA NA NA 6100
42-44 7050 7050 NA 5900
44-46 6900 6900 NA 5800
Dollar 6300-7000 6200-6700 NA 5000-5700
Mumbai Sudan 5350 5400 5550 4375-4400
Ethiopia NA NA NA 4300
Russia 5250 5300 5450 4300
Burma NA NA NA 4400


Imported Masoor (Mumbai):

Canada crimson variety and Australia-origin Masoor in Mumbai extended fall by Rs 50-100 at Rs 5,100-5,225/100Kg and Rs 5,325, respectively in Mumbai.

Similarly, Canada crimson variety Masoor at Hazira and Mundra port fell Rs 100 each, at Rs 5,100/100Kg and Rs 5,050, respectively.

Availability of imported raw and processed Masoor stock at cheaper rates, slow offtake in processed Masoor and expectations of further imports due to extension of 10% Concessional Duty from 31st October, 2020 To 31st December, 2020 has dampened the sentiments.

Vessel M V NORD BERING carrying 38,000 tonnes of Canada Masoor arrived at Kakinada Port on 31st October, 2020.

As per market sources, Vessel M.V. Equinox Agnandoussa carrying Masoor from Canada is likely to reach India (Mundra) port by 10th November, 2020.

Masoor ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai Canada 5100-5225 5200-5275 5231-5300 4175-4300
Australia 5325 5350-5375 5400-5425 4350
Mundra Canada 5050 5161 5231 NA
Hajira Canada 5100 5200 5231 NA
Kolkata Canada 5250-5350 5250-5350 5300-5375 4550-4600
Australia 5400-5600 5450-5600 5450-5600 4600-4625
Indore Desi 5300 5500 5500-5550 4350-4375
Raipur Desi 5400-5450 5450-5500 5700-5750 4600-4625
Kanpur Desi 5725 5800 5825 4625
Masoor Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Khopoli 6350 6400 6400 5200-5250
Katni NA NA NA 5100


Imported White Pea (Mumbai):

White Pea prices gained Rs 300 to Rs 6,500/100Kg at Kanpur market on selected demand from local and outstation markets, for graded quality White Pea.

On the other hand, price of White pea, besan and dal traded unchanged at Rs 3,900/100Kg and Rs 7,100, respectively amid limited buying despite shortage.

Moreover, crushing of White Pea for making dal and besan by mills was less interesting, due to unavailability of White Pea. Major Mills have halted their crushing activity in White Pea.

Bombay HC Orders DGFT to Release 38,500 MTs of Peas from Port after Penalty. But, peas lifting from ports have been halted by govt, although reasons are not clear yet. Overall 3K-4K MT of peas has been reportedly lifted since High court’s decision.

Canada origin White Pea traded weak by Rs 100 to Rs 6,200/100Kg in Mumbai, as per quality.

White Pea ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai Canada 6200 6300 NA 4831
Kolkata Canada NA NA NA 5125
Kanpur 6500 6200 6150 5200
White Pea besan ( Prices In Rs / 50Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai 3900 3900 3950 3100
White Pea Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Mumbai 7100 7100 7200 5700


Moong (Jaipur):

Moong prices were steady at Rs 7,700-7,800/100Kg in Jaipur market of Rajasthan, as per quality, amid limited mill buying and ongoing kharif arrivals in major producing centres.

On other hand, processed Moong ruled weak by Rs 200 to Rs 8,400-8,500/100Kg due to thin demand and sale counters from consumption centres.

Meanwhile, Government procurement of new Kharif Moong, at MSP, is snail-paced as good quality Moong prices traded above MSP of Rs 7,196 in spot markets.

Buyers are interested in good quality supplies. Arrivals pressure of new crop has not been witnessed yet. Also, yield and quality of new Moong is affected due to rains in major producing centers. Moreover, crop is reportedly damaged due to Yellow Mozaic disease and locust attacks in Rajasthan.

Arrivals and supplies stocked in godowns, meanwhile, are enough to offset current requirements.

Moong ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Jaipur Kharif 7700-7800 7700-7800 7400-7600 6400-6600
Harda Summer NA NA NA 6200-6675
Moong Dal ( Prices In Rs / 100Kg )
Market Variety 31-Oct-20 24-Oct-20 17-Oct-20 31-Oct-19
Jaipur 8400-8500 8600-8700 8200-8300 8100
Gulbarga NA NA NA 8600
Akola NA NA NA 7500-8000


(By Commodities control Bureau; +91 9820130172)


       
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