Weekly: Tur/Green Pea Decline Most In Pulses Complex

MUMBAI (Commoditiescontrol) – Tur, Urad along with White and Green Pea slipped during the week ended Saturday (Nov 11-16) on dull buying support. While, Chana, Kabuli Chana and Moong moved higher on millers buying support. On other hand, Masoor traded steady to firm on mills demand on immediate requirements.

As per trade sources, production of pulses may be much lower than the government's estimate due to crop damage because of excessive and unseasonal rainfall during October-November and late with drawl monsoon.Heavy post-monsoon rains have delayed harvest of kharif crops, which in turn has led to a delay in rabi sowing.

To ensure farmers get better returns, the government this year capped pulses imports.

India’s pulse imports are expected to jump significantly to meet the deficit, much would depend upon the government policies with opening up import beyond the quota fixed for the current year.

Week Highlights

# India Rabi Pulse Sowing down by 15.87 % as on November 15 to 45.60 lakh Ha vs 54.20 last year at the same period. Chana: 32.48 Vs 37.42, Masoor: 3.71 Vs 4.91, Matar: 2.33 Vs 3.38, Urad: 1.54 Vs 1.69, Moong: 0.37 Vs 0.45, Other Pulses:1.07 Vs 1.50.
# Rajasthan's 2019-20 Chana Sowing Up 85.58% Y/Y Till Nov 15.
# Govt Not In A Hurry To Allow Additional Pulses Import Quota.
# Exports of Masoor from Canada for the September month reached 2,72,608 MT, up 138 % from 1,14,531 MT in the previous August month. This increased shipments so far during the marketing year to 3,87,139, up 24% versus 3,12,183. The biggest purchaser for the month was India, buying 89,669 MT. Bangladesh purchased 70,034 MT, followed by Turkey at 31,029 MT.
# Exports of Masoor from Australia for the October month reached 50,713 MT, up 14 % from 44,333 MT in the previous September month. Export sales so far reached to 3,46,774, down 25% compared to 4,64,123 in same period during the previous marketing year. The biggest purchaser for the month was Bangladesh, buying 19,079 MT. India purchased 15,974 MT, followed by Srilanka at 11,544 MT.

Burma Lemon Tur:

Tur Lemon variety of Burma origin declined by Rs 125 at Rs 5,200/100Kg in Mumbai amid slack trade volume due to average quality.

Sentiments are under pressure as new domestic Tur likely to hit local markets of karnataka next month. However, yield of Tur in Karnataka is likely to be low in some areas and affected cannot be ruled out due to unseasonal and excess rainfall.Tur crop is harmed and turned black. Cloudy, rainy and sunlight weather along with now dew formation had affected yield as it is in flowering stage.

Buyers were cautious due to upcoming supply from overseas, stocks in hands of private traders and also Nafed holding old procured stock.

Similarly, domestic Tur in bilty trade at Akola also traded weak by Rs 200-250 at Rs 5,800-5,825/100Kg.

Demand and sale counters in Tur dal was also reported thin from retail/wholesale counters as delivery from mills is going on in counters which were traded earlier as millers started processing commodity after Labh Pancham.

Latur origin new Phatka variety traded at Rs 8,400-8,600/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,800-9,000/100Kg, Khamgaon origin new Phatka variety at Rs 8,300-8,400/100Kg (spot), Jalna origin new phatka variety at Rs 8,600-8,800/100Kg (spot) and Solapur origin new phatka variety at Rs 8,300-8,400/100Kg (Spot).

Burma Urad:

Burma Urad FAQ new/old variety remained weak by Rs 50-100 each to Rs 7,850/100Kg and Rs 7,650, respectively at the Mumbai market as millers were not active to purchase at higher rates due to slow demand in processed Urad.

Similarly, In Chennai, Urad FAQ moved lower by Rs 150 to Rs 8,000/100Kg in ready delivery as per condition. While, SQ variety traded firm by Rs 50 to Rs 9,000.

Moreover, supply of Urad in containers from Burma is getting clearance by Chennai customs, further upcoming supplies in near future.

Speculators and stockiest were active at lower rates in the market as they believe that supplies will not be sufficient to meet the domestic demand as the local crop has failed.

Moreover, domestic arrival has failed to gather pace and quality is also not satisfactory in this situation they have to depend on imported urad.

Millers were active in purchasing imported Urad at lower rates on immediate requirement for crushing.

Bikaner origin branded Urad dal traded at Rs 10000-10200/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 11300/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 10400/100Kg for spot.

State Wise Rabi Urad Sowing Down 8.88 % As On Nov 13 Vs Same Period Last Yr (LAKH HA). Andhra Pradesh: 0.22 V/s 0.41, Tamil Nadu: 0.97 V/s 1.06, Odisha: 0.16 V/s 0.18. Total: 1.54 V/s 1.69.

Chana Kantewala (Indore):

Chana prices traded unchanged at Rs 4,400-4,425/100Kg in Indore amid limited miller buying activity only to meet their immediate requirement for crushing.

Actual demand in chana dal and besan from consumption centres was seen in the market. But, activity is limited as Nafed planning to sell procured stock around 10 lakh tonnes state wise in next three month.

State Wise Rabi Chana Sowing Down 13.2 % As On Nov 13 Vs Same Period Last Yr (LAKH HA). Maharashtra: 0.47 V/s 2.41, Rajasthan: 14.02 V/s 7.56, Karnataka: 6.72 V/s 6.81, Madhya Pradesh: 5.32 V/s 13.63, Uttar Pradesh: 2.83 V/s 3.45, Andhra Pradesh: 2.06 V/s 1.83, Telangana: 0.22 V/s 0.5. Total: 32.48 V/s 37.42.

On other hand, Australia origin Chana in ready business at Mumbai traded higher by Rs 25 at Rs 4,400/100kg amid millers trade and also due to very limited availability.

Similarly, Burma origin chana gained by Rs 100 at Rs 4,351/100Kg.

Tanzania origin Chana also up by Rs 75 at Rs 4,400/100Kg.

Chana for December delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.5 percent or Rs 21 at Rs 4,520/100kg. Earlier, in the day, the contract hovered in the range of 4,507 and 4,547 on Friday.

Open interest for NCDEX Chana November contract decreased to 3730 lots against 7820 lots.

Similarly, open interest for December contract also down to 47320 lots against 49490 lots.

On other hand, open interest for January contract increased to 13770 lots against 13540 lots.

Open interest of top 10 trading clients in the long side was 40750 MT whereas the short position of top ten clients was 36230 MT. The net position of top 10 clients was net long by 4520 MT.

Chana stocks at NCDEX accredited warehouses stood at 7187 metric tonnes (Indore: 30, Bikaner 5,236, Jaipur 1,921) as on 12th November, down from 7934 metric tonnes in the previous session, the exchange data showed.

Australian chana dal remained unchanged at Rs 5,400/100 Kg for spot. Domestic chana dal of Pistol brand also ruled steady at Rs 5,600 for Spot, Angel brand at Rs 5,800 for Spot, Samrat brand at Rs 5,800 for Spot. Chana besan also traded at Rs 3,160/50Kg, Vatana besan remained flat at Rs 3,100/50 Kg, Vatana dal at Rs 5,550.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded higher by Rs 25-50 each at Rs 4,325/100Kg, Rs 4,400, Rs 4,351 and Rs 4,425, respectively amid buying from besan flour millers due to cheaper prices as compared to White Pea.

Kabuli chana of 40-42, 42-44 and 44-46 counts ruled flat each at Rs 6,700/100Kg, Rs 6,500 and Rs 6,350, respectively at Indore market amid limited local buying activity.

Dollar variety Kabuli Chana also remained steady at Rs 5,500-6,300/100Kg at Indore on limited trade activity.

In forward business, Russia Kabuli Chickpea offered at $395 per ton in container on CNF basis JNPT for ready shipment.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel/container along with Australia Masoor ruled steady to firm at Mumbai on millers buying support as per requirement despite fresh supply in bulk vessel from Canada at Mundra port.

Canada origin red Masoor in vessel/container traded flat each at Rs 4,250/100Kg and Rs 4,375-4,400, respectively.

Similarly, Australia origin red Masoor also ruled steady to Rs 4,425-4,450/100Kg.

Canada Masoor dal Khopoli spot traded at Rs 5,200/100Kg.

Prices of Masoor likely to get support as rabi Masoor sowing lagging behind by 25%, increased in consumption due to cheaper pulses and no supply pressure from overseas in Mumbai.

Moreover, hike in MSP of Masoor by Rs 325 to Rs 4,800/100Kg for this year from Rs 4,475/100Kg last year will also support prices.

State Wise Rabi Masoor Sowing Down 24.44 % As On Nov 13 Vs Same Period Last Yr (LAKH HA). Madhya Pradesh: 0.87 V/s 1.97, Uttar Pradesh: 2.2 V/s 2.51, West Bengal: 0.31 V/s 0.25. Total: 3.71 V/s 4.91.

In forward business, Canada crimson variety masoor new offered at $455 per ton in container on CNF basis JNPT for Nov/Dec shipment.

Australia Nugget variety masoor new offered at $450 per ton in container on CNF basis JNPT for Dec/Jan shipment.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea widened losses at Mumbai because of slow trade activity from local and outstation traders/millers at prevailing rates.

Canada and Ukraine White Pea fell by Rs 100-125 each at Rs 4,681/100Kg and Rs 4,581, respectively.

Moreover, demand in matar dal/besan was thin at prevailing rates.

Crushing in Chana/Kabuli Chana has increased due to cheaper prices and easy availability compared to White Pea.

State Wise Rabi Field Pea Sowing Down 31.06 % As On Nov 13 Vs Same Period Last Yr (LAKH HA). Madhya Pradesh: 0.39 V/s 0.93, Uttar Pradesh: 1.59 V/s 2.17. Total: 2.33 V/s 3.38.

Moong (Jaipur):

Moong prices traded higher by Rs 200 at Rs 6,600-6,800/100Kg as per quality at Jaipur market due to local and outstation millers trade activity, decreasing domestic arrivals and also weather concern in Rajasthan/Gujarat.

Buying from millers in good quality moong was seen to meet immediate requirement for crushing.

Demand and sale counter in processed Moong reported thin.

Farmer in Rajasthan were less interested to sell their product to government at MSP of Rs 7,050/100Kg as price difference between MSP and market prices was very less.

Similarly, Moong dal prices traded up at Rs 8,700-8,800/100Kg depending on the variety.

In Delhi, Rajasthan new kharif Moong priced firm at Rs 6,600-7,100/100Kg.

NAFED has successfully procured 18516.51 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on November 13, 2019.Tamil Nadu: 34.95, Telangana: 5874.9, Maharashtra: 830.57, Karnataka:5148.26, Rajasthan:6456.93, Haryana: 170.9.

Canada Green Pea (Mumbai):

Canada origin Green pea declined sharply at Rs 7,400-7,700/100Kg at Mumbai amid dull buying activity at higher rates.

(By Commoditiescontrol Bureau; +91-22-40015513)