MUMBAI (Commoditiescontrol) – Major pulses, such as Tur, Urad, Chana, White Pea and Moong continued to remained weak for third straight week ended on Saturday (May 27-June 3) due to lackluster business activity from millers and traders. While, Masoor and Kabuli chickpea traded firm on fresh lower level buying support.
Trading activities was suspended in the markets of Maharashtra and Madhya Pradesh for last two day due to farmers’ strike. The farmers strike in Maharashtra was called off on June 3, 2017 after chief minister Devendra Fadnavis accepted 70 per cent of their demands.
Sentiments in pulses remained weak due GST implementation & its impact as market players are holding stock and they were active in clearing the stock before 1st July, higher pulses production, timely and normal monsoon, strong Indian currency and financial problem (less liquidity).
Week Highlights
# India Kharif Pulses Sowing As On June 2 At 1.39 Lakh Ha Vs 0.92 Last Year. Tur : 0.08 Vs 0.05, Urad : 0.37 Vs 0.32, Moong : 0.29 Vs 0.22, Other Pulses: 0.65 Vs 0.33.
# The area coverage has reported mainly from states of Karnataka (1.12 Lakh Ha), Tamil Nadu (0.20 Lakh Ha), Assam (0.03 Lakh Ha), Haryana (0.03 Lakh Ha) and Odisha (0.002 Lakh Ha).
# Maharashtra, government has removed stock limit on pulses, except chana, on Thursday with immediate effect.
Burma Lemon Tur:
Burma Tur lemon variety declined last week by Rs.50 to Rs 3,525/100Kgs on dull millers buying activity at existing level despite fresh activity in processed tur at lower rates from Retailers/Wholesalers counters due to 1st week of month. Millers are buying tur as per need-base requirements to run their daily operations smoothly.
According to market sources, prices of raw Tur may only sustain if demand supports in processed Tur. Demand in processed pulses is expected in 1st week of June and sentiment in pulses can change after monsoon arrivals. As per traders view, risk level is very low at current level and lower level may attract buyer.
In Maharashtra, processed Tur Phatka Sortex quality priced flat at Rs 5,500/100 Kg, semi-Sortex at Rs 5,300 and regular at Rs 5,100.
Tur dal prices remained under pressure on settlement of dal and delivery which were traded in forward business for June month delivery. Earlier dal was traded at Rs 6,200-6,300/100Kg in forward business and current prices were around Rs 5,300-5,350/100kg.
NAFED has procured Tur in Maharashtra and Gujarat under Price Support Scheme (PSS) around 149797.10 MT as on 31st May. Maharashtra: 100000, Gujarat: 49,797.10.
According to market talk, Government may Extends Its Tur Procurement Operation In Maharashtra & Will Procure 1 LT More Tur Till June 15.
Burma Urad:
In Mumbai, Burma origin FAQ and Sq variety Urad was priced lower Rs 350 to Rs 4,650 and Rs 5,750/100Kg respectively in the absence of buying from key consumption centers, summer crop new urad arrivals in Madhya Pradesh, Gujarat and Uttar Pradesh, weak cues from Burma market. Demand in processed Urad was dull from consumption centers due to hot weather.
Kharif Urad supply from Madhya Pradesh, Andhra Pradesh and Uttar Pradesh is available in market at cheaper prices compared to imported Urad.
At Chennai, Urad SQ and FAQ variety price remained weak this week between Rs 200-250 to Rs 5,800/100kg and Rs 4,800 respectively in ready business amid dull activity.
In forward business, Urad SQ variety traded lower at Rs 5,950 for July delivery.
Buyers are concerned as carryover crop of Burma and good production of Urad crop in the prevailing year accompanied with availability of domestic Urad in the country is sufficient to cater the demand.
Chana Kantewala (Indore):
In Indore market, Chana remained unchanged at Rs 5,200-5,250/100Kg in the last week as market was closed for couple of days due to farmers strike. Commodity was traded in private trade. Further, dull buying support from consumption centers had pressurized the price as sellers were active in processed Chana.
Demand in Chana dal was reported dull from consumption centers. Milled Australian Chana quoted lower at Rs 6,600/100 Kg, down Rs 100. New Domestic Chana dal of Latur origin was priced weak by Rs 100 to Rs 6,700. Chana besan variety priced flat at Rs 3,950/50 Kg and Vatana besan at Rs 1,570/50 Kg. Vatana dal was traded unchanged at Rs 2,700.
NAFED procures 43201.38 MT of Chana As On June 1. Rajasthan: 35,683.21 MT, Madhya Pradesh: 6,678.32 MT, Uttar Pradesh:798 MT and Haryana:41.85 MT.
Australia origin Chana in ready business at Mundra and Mumbai port fell by Rs 100 to Rs 5,350/100Kg and Rs 5,300.
New Chana crop of Australian origin (2017) offered steady at Rs 4,950/100Kgs for October-November shipment and Rs 4,900 for November-December shipment.
In forward business, Australian Chana offered at $900 for June-July Shipment. New crop is priced weak at $755 for October-November shipment.
Kabuli Chana in ready business at Indore market gained by Rs 300/100Kg to Rs 11700 for 42-44 count and Rs 11500 for 44-46 count amid fresh buying support from exporters and stockiest at lower level.
Traders, Millers and stockiest were still holding stock of Chana at higher rates and purchasing chana at every dips in market on anticipation that prices may rise in near festive period. Output is likely to be lower than the government estimate.
But, demand is not sustaining at higher rates in chana dal due to ongoing arrivals of raw chana in market, cheaper white pea besan, financial problem (less liquidity), GST implementation & its impact and weakness in all other pulses. Demand in near future will gradually gather pace and support prices till Diwali.
Masoor (Mumbai)
Canada origin crimson variety Masoor moved up this week Rs.100 to Rs 3,500-3,750/100Kgs amid fresh buying support from Delhi at low rates despite higher supply from overseas and regular arrivals of new crop from producing belts.
Importers were bearing huge losses in Masoor and White Pea due to difference in purchase cost against current market prices and were avoiding to release their cargo and suffering heavy damrage/Detention charges.
Canada Revises Lentils Production Estimate Down By 3 To 28 Lakh T For 2017-18 Crop Year. Canada Exports 21000 T Lentils In The 2nd Week Of May-2017.
In order the support the falling prices NAFED has procured 11148.33 Metric Tonnes (MT) of Masoor as on June 1, 2017 from major states. Madhya Pradesh: 6,239.08 and Uttar Pradesh: 4,909.25.
Canada White Pea (Mumbai)
Canada origin white pea at Mumbai offered down marginally to Rs 2,141-2,151/100Kgs on sluggish trade activity at existing rates, regular arrivals of new domestic white pea in major markets and overseas supply from Canada. Business activity in matar dal and besan was dull from consumption centers.
Peas Export From Canada Registered 31.4 lakh T Till 14Th May-2017.
While, new crop Canada white pea (2017) offered unchanged at Rs 2,175/100Kgs on negligible trade activity for September-October shipment.
In forward business, Canada white pea new crop offered at $318 for September-October Shipment. Russia white pea quoted at $325 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 weak at Rs 4,300-4,400/100Kg 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 lower at Rs 5,300-5,400/100Kg. Arrivals of summer crop new moong have started in few markets of Madhya Pradesh, Uttar Pradesh and Gujarat.
Prices of moong are unlikely to sustain due sufficient kharif crop in Rajasthan and Bihar. Moreover, moong crop in the country is cultivated throughout the year and thus crop is mostly available abundantly for domestic consumption.
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.
NAFED Procures 139.07 MT Moong In Odisha Under PSS On 1 June at MSP prices of Rs 5225 (Rs 4800+425 bonus).
(By Commoditiescontrol Bureau +91-22-40015513)
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