MUMBAI (Commoditiescontrol) – Tur, Urad, Chana and Masoor edged higher during the last week ending on Saturday (May 8-13), while, steady tone observed in Moong and White Pea.
Week Highlight
# Government Extends Tur Procurement Operation In Maharashtra & Will Procure 1LT More Tur Till May31. However, Maharashtra Government Asked For 2LT. Already Procures Nearly 4 LT Till Apr 22.
# Farm Ministry Cuts Pulses Inspection Charge To Near Pre-Hike Level. Inspection Charges Now 4000 For First Tonne & 150 For Each Subsequent Ton From 1500 Earlier.”
# The southwest monsoon is likely to reach Andaman sea and Nicobar Islands by Monday, five days ahead of the normal date of May 20, the India Meteorological Department said.
#Third Advance Estimates 2016-17 Vs 2015-16 (In Lakh Tonne). Pulse: 224 Vs 163.50, Tur: 46 Vs 25.6, Chana: 90.8 Vs 70.05, Urad: 29.3 Vs 19.5, Mung: 20.7 Vs 15.9.
Lemon Tur:
Burma Tur lemon variety gained last week by Rs.225 to Rs 3,950/100Kgs due to millers and traders buying support as they prefers to process imported Tur due to cheaper prices and to avoid stern action, including suspension of their licenses if they purchase domestic Tur below MSP price from the market.
According to sources, the low rate offered for tur after a bumper crop has prompted Maharashtra government to crack the whip on errant traders.
They added that, purchasing tur dal below the (MSP) of Rs 5,050/100Kgs would face stern action, including suspension of their licenses.
Further, Agricultural Produce Market Committees (APMCs) have been instructed to closely monitor tur purchases from farmers.
Therefore, demand from millers, stockiest and traders are likely to shift and purchase imported lemon tur instead of domestic produce as buying tur at MSP price would lead them to huge losses.
In order to support farmers from distress sell National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) has resumed buying tur in Gujarat under Price Support Scheme (PSS) and has successfully procured 11,499.65MT.
A NAFED official confirmed that, “total target for procurement of tur under PSS by government agencies is around 50,000 Metric Tonnes.
However, government agencies had suspended buying of tur under PSF from April 22, 2017 and until then NAFED had successfully procured 115,460.13MT in Gujarat.
Hence, in near future a positive tone may be witnessed in lemon tur as most of the demand from buyers is likely to shift from domestic to imported crop.
According to trade sources, risk level is very low at current level as prices of Tur were nearly bottom out. Tur dal consumption will also rise due to higher vegetable prices in coming days followed by end of mango season from June. Mango consumption usually decreases from June after monsoon arrival.
Further, the union government has principally agreed to the state government's demand to extend the Tur purchase till May 31 under its price support scheme (PSS) by which the government estimates to purchase around 1 lakh tonnes of Tur.
Nearly 4 lakh tonnes of Tur had already been procured from Maharashtra under the price stabilization fund (PSF) operated by the food ministry.
Burma Urad:
Burma origin FAQ and SQ variety Urad moved up in Mumbai last week by Rs.250 to Rs.5,450/100Kgs and Rs 6,500/100Kgs respectively to meet rising demand from retailers amid fall in arrivals from growing belts. Increased demand from mills, firm cues from Burma market and low inventory of imported Urad too supported the upside in prices.
Similarly, In Chennai, Urad SQ variety traded higher at Rs 6,600/100Kgs in ready business. Urad SQ variety traded firm at Rs 6,700/100Kgs for June delivery and Rs 6,750/100Kgs for July delivery.
On the other hand, buying support from consumption centers in Urad dal accompanied with positive cues from Southern, Uttar Pradesh, Madhya Pradesh and Delhi market had helped the commodity to sustain at existing level. Supply pressure from Burma is likely to expect in near future.
Chana Kantewala (Indore):
Chana gained by Rs.300 to Rs.5,750Kgs in the last week due to improved millers buying amid slow supply of overseas crop, mainly from Australia and also low arrivals in domestic markets.
Farmers were less interested to liquidate their stock in the market due to low prices and also they had purchased seeds at higher rates.
NAFED is aggressively purchasing Chana in selected market of Rajasthan at premium prices compare to market rates.
Traders and Millers were still holding stock of Chana at higher rates in anticipation of prices may rise in near festive period.
The main consumption period of Chana starts from Ramadan (Holi Muslim month) to Diwali and since this year Ramadan is a month ahead the demand for Chana is likely to remain upside side till Diwali (October).
NAFED procures 33,430MT of Chana as On May 11. Rajasthan: 28681.74 MT, Madhya Pradesh: 3,985.02MT and Uttar Pradesh: 763.60MT.
Australia origin Chana in ready business at Mumbai and Mundra port gained by Rs.150 traded at Rs.5,900/100Kgs.
New Chana crop of Australian origin (2017) offered marginally higher at Rs 5,325/100Kgs for October-November shipment.
In forward business, Australian chana is offered between Rs.6,151-6,201/100Kgs for May-June delivery and Rs.6,275 for July warehouse delivery.
Further in forward business, Australian Chana offered at $925 for June-July Shipment. New crop is priced at $765-$770 for October-November shipment.
Kabuli Chana in ready business at Indore market fell by Rs.500-700/100Kgs to Rs 11800 for 42-44 count and Rs 11600 for 44-46 count amid absence of buying support from exporters and stockiest at existing level.
Masoor (Mumbai):
Canada origin crimson variety Masoor edged up this week Rs.150 to Rs 3,750-3,900/100Kgs for superior quality amid buying support from millers and traders.
According to our trading sources, quality of Canada origin masoor is reported to be mixed (average to superior) quality and quotes are placed according to quality.
In order the support the falling prices NAFED has procured 3,853.01 Metric Tonnes (MT) of Masoor as on May 11, 2017 from major states. Madhya Pradesh: 1,337.41MT and Uttar Pradesh: 2,515.60MT.
However, quality of Australia origin Masoor is superior compared to Canada origin hence good demand is witnessed for Australia origin, however negligible stock is left at the market place.
Arrivals of new masoor at Madhya Pradesh, Uttar Pradesh and Bihar were slow as farmers were not interested to sell their stocks at low rates as prices were traded near minimum support prices and were interested in liquidating wheat crop due to better prices given by government.
Fresh supply around 23,995 Mt Canada Masoor from vessel Peaceful Seas at Mumbai port along 9,583 mt from vessel Rigi Venture at Hajira port would restrict sharp gains.
Upcoming supply pressure from break bulk vessel Ultra Integrity, Rigi Venture and Qing Yun Shan at Mumbai port would also add pressure in near future.
Canada White Pea (Mumbai):
Canada origin white peas traded flat at 2,251/100kg on limited buying against regular arrivals of new domestic white pea in Uttar Pradesh and Madhya Pradesh. Business activity in matar dal and besan was reported as per requirement from consumption centers due to cheaper rates compare to other pulses.
Similarly, new crop Canada white pea (2017) offered flat at Rs 2,225/100Kgs for September-October shipment. In forward business, Canada white pea new crop offered at $318 for September-October Shipment. Russia white pea quoted at $340 for May-June shipment. Good flow of overseas and domestic supplies likely to keep matar prices under pressure in the near term.
Moong (Jaipur):
Moong priced ruled steady at Rs.4,900/100Kgs during the last week in the absence of encouraging advices from the demand side. Miller's inquiry was mostly dull in processed moong. Similarly, moong dal prices also remained unchanged at Rs 6,100/100Kgs. Arrivals of summer crop new moong have started in few markets of Madhya Pradesh and Gujarat. Summer crop moong was traded cheaper at Rs 4,200-4,700/100Kg at Indore market.
Prices of moong are unlikely to sustain due sufficient kharif crop in Rajasthan. Moreover, moong crop in the country is cultivated throughout the year and thus crop is mostly available abundantly for domestic consumption.
Moong acreage is likely to be higher this kharif season 2017 due to low cost and also shifting from tur to cotton and moong due to poor realization in tur.
After Odisha crop in April, summer crop of Madhya Pradesh, Gujarat and Maharashtra will be available in May month followed by West Bengal crop by May-end and then followed by Bihar crop from first week of June.
(By Commoditiescontrol Bureau +91-22-40015523)
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