MUMBAI (Commoditiescontrol) - Burma lemon tur (Pigeon Pea) recovered last week, while rest chana (Chickpea), masoor (Lentil), moong (Green Gram), matar (Pea) and urad (Black Gram) edged lower in the absence of demand coupled with consistent domestic and overseas supply.
Burma Lemon Tur (Mumbai) - Last Close 4,350/100Kg - Lemon tur was the main beneficiary in pulse complex to end in positive territory supported by good demand from traders and millers, mainly from Delhi. Delhi-based millers preferred to source lemon tur over domestic crop due to good quality and cheaper rates.
According to trade sources new crop of Madhya Pradesh is available at attractive, but quality is not as required by millers as contains 13% Kachri with 11.5% moisture, whereas Maharashtra and Karnataka origin is available at premium rates against lemon tur.
Good demand from millers helped prices to recover during last week. Temporary rise in tur prices can't be ruled as buyers are active since pipeline are empty due to thin carry over stock left from previous year's crop due to lower production, however sharp upside will be capped due to slow demand in processed tur (tur dal) and continuous flow from new crop. New domestic tur crop supply has started in full fledge along with Burmese new crop, which is also likely to weigh on prices. Dal millers are finding difficult as margins are tight due to lower processed tur prices and hence working on hand-to-mouth basis.
Farmers in the country are forced to sell their tur below MSP level and are very disappointed as they have seen much higher last year, which has prompted them to cultivate more tur. Government agencies are active in buying tur, but the quantity is small unable to provide any major support to farmers. Government need to act quickly for farmers supports either by lifting stock limit on pulses or slap duty on imports. Since domestic crop is more than sufficient to cater demand and any major flow from overseas will spoil the whole trade and it's farmers will be most hurt.
Government should to take initiative very fast as there is higher probability of tur prices to fall even below Rs 4,000 and from there it will be very difficult for tur prices to recover.
Chana Kantewala (Indore) - Last Close 4,900 - Desi chana (Chickpea) was among the major loser in pulse complex last week and has touched lowest level since April 2, 2016, due to lackluster demand in processed chana, slow and steady supply of new chana crop from early sown states. There are various factors weighed on chana prices. New matar (Pea) and tevra crop supplies has started and has pressured chana prices as it used as substitute for chana and market share increase in case difference with them expand and at present the difference is against in favor of chana.
Chana new crop supply is increasing gradually and likely to gather momentum by month-end. Weather is favorable for chana crop in the country and yield is likely to be much better than last year. The country is likely to harvest over 93 lakh tonnes of chana this season 2016-17.
Supply from Australia and other origin has also keep a lid on prices. Australia chana at the benchmark Mumbai market last week was traded at Rs 4,900/100kg.
Desi Masoor (Kanpur) - Last Close 4,400 - Persistent lackluster demand, continuous overseas supply and prospects of better domestic crop has pushed down masoor prices to multi-year at the key Kanpur market. Buyers are sidelined or buying only as per immediate requirements as they are not in hurry anticipating more correction ahead. New masoor crop has started and flow is expected to increase in the coming weeks. Domestic masoor crop is likely to surpass 11 lakh tonnes and likely to break record production of 11.34 lakh tonnes achieved in 2012-13 due to better yield.
Desi Moong (Jaipur) - Last Close 4,400 - Desi moong at the benchmark Jaipur market also dropped to multi-year low in the absence of any encouraging advices from buyers side. Moong last week edged lower by 2.2 percent. Demand in the spot market from millers were mostly need-based as buyers anticipate moong to be available around current level in long term due to higher production.
Burma Urad FAQ (Mumbai) - Last Close 5,250 - Burma urad FAQ variety plunged to lowest level after November 5, 2014 due to forecast of record production against weak demand. Demand in urad is said to be dull as buyers are not in hurry to source in large quantity due to expectations of bearish trend to prevail ahead due to new crop supply from Burma. However some trade expert believes that sharp fall in prices are unlikely as demand is likely to emerge at the lower level since pipeline is dry at consumption centres.
Canada Matar (Mumbai) - Last Close 2,371 - Canadian matar lost 0.4 percent last week due to limited domestic demand due to consistent flow of local and overseas crop. Demand is comparatively good in matar due to lowest in pulse complex and used as substitute for chana, but since availability is higher than demand matar prices are likely to remain under pressure. Any rise in matar may attract selling pressure as new supply is expected to increase in the coming weeks and farmers will be desperate to liquidate material for financial requirements.
The country is likely to harvest record matar crop this season 2016-17 due to higher acreage and better yield in producing states.
(By Commoditiescontrol Bureau; +91-22-40015533)
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