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Weekly: Pulses Extend Gains Amid Mill Buying, Improved Demand in Dals

24 Aug 2020 9:18 am
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MUMBAI (Commodities control) – Major pulses, such as Tur, Urad, Chana, Kabuli Chickpea, Moong and White Pea extended rise for the week ended 21st August amid improved mill buying activity. Masoor prices also traded steady to firm on low level buying activity.

Moreover, demand and sale counters in processed pulses reported good participation from wholesale/retail counters, as pipeline is empty.

Weekly Highlights

# India succeeded to maintain increasing trend in sowing area of kharif season’s crops. Total sowing area reached 1062.93 lakh hectares which is 8.56 percent higher than corresponding period’s acreage of last kharif season.
# India kharif pulses sowing as on Aug 21 was up 6.77% at 132.56 lakh hectares as against 124.15 lakh hectare during the same period last year.
# Pulses import remained almost stable during last four months of current fiscal. The country imported pulses of Rs. 2445.37 crore during the period while last year’s same period import was Rs. 2409.56 crore. The import increased mere 1.49 percent in July 2020. Pulses import increased only 0.99 percent at Rs. 736.07 crore against import of Rs. 728.87 crore in July 2019.

India 2020-21 Kharif Pulses Sowing Up 6.77 % As On Aug 21, 2020
Commodity Area Sown In Lakh Hectare 2020-2021 Area Sown In Lakh Hectare 2019-20
Tur 46.6 43.42
Urad 37 34.38
Moong 34 29.8
Other Pulses 14.83 16.46
Pulses 132.56 124.15

Burma Lemon Tur:

Tur Lemon variety of Burma-origin, both old and new, extended gains for third straight week by Rs 125 to Rs 5,500-5,525/100Kg and Rs 5,700-5,725, respectively in Mumbai amid better mill buying activity and lower availability of imported Tur stock.

Similarly, domestic variety Tur traded higher by Rs 150-175 to Rs 6,225-6,250/100Kg at benchmark market Akola, on local and outstation mill purchase due to immediate requirement for crushing.

Meanwhile, millers were unable to procure good quality Tur for crushing due to reduced arrivals.

Government agency is selling old raw Tur to the mills for processing, packaging and supply of processed Tur under PDS.

India 2020-21 Kharif Tur Sowing was Up 7.32 %, as On Aug 21, At 46.6 Lakh Ha Vs 43.42 Last Year.

In forward business, Mozambique-origin Tur red variety is being offered at $620 per ton and white variety at $670 per ton in container on CNF basis JNPT.

As per market view, tur prices may be underpinned due to negligible arrivals and lesser availability of imported Tur. Active participation at the demand and sale counter of dals is expected. Supply from Mozambique is expected from September. Government is yet to give any quota to the millers and refiners.

Tur ( Prices In Rs /100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai Lemon 5500-5725 5400-5600 5300-5500 5200
Akola Desi Bilty 6225-6250 6050-6100 6025-6075 5925-5950
Gulbarga Desi 5900-6200 5900-6100 5800-6000 5800-5950
Tur Dal ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Akola Phatka 8200-8400 8200-8400 8200-8400 8000-8200
Gulbarga Phatka 8100-8500 8000-8400 8000-8400 8000
Katni Phatka 8700-8800 8500-8600 8500-8600 8150-8350

Burma Urad:

Burma Urad FAQ new variety traded higher for second straight week by Rs 50-75 to Rs 6,200-6,225/100Kg, in Mumbai.

Similarly in Chennai, Burma Urad FAQ variety moved marginally higher at Rs 6,025-6,050/100Kg. Urad SQ variety also gained Rs 75-100 at Rs 6,875-6,900, due to better mill buying for immediate crushing requirement and fear of Urad crop damage in producing centers due to rains.

However, limited offtake was witnessed in processed Urad.

Arrivals of new Urad were witnessed in a few markets of Maharashtra, such as Ahmednagar, Barsi, Dudhani and Akkalkot with higher moisture content.

Meanwhile, Government reduced the deadline for Urad Import Annual Quota of 4 lakh MT by 6 months to 31st August, 2020.

However, the allocated quantity is not expected to arrive till 31st August, 2020 against the annual quota license due to disparity.

Millers who received import quota licenses are surrendering their licenses to DGFT.

Supreme Court has completed its hearing on Pulses Import Restriction. As per sources, Judgement is reserved. Court has not fixed the date for judgement. Parties had filed brief written submission on 27th July, not exceeding five pages. Around 27,000-28,000 MT of Urad lies at Chennai and Mumbai port.

Kharif sowing is higher and new crops will likely arrive from September end in domestic markets.

India 2020-21 Kharif Urad Sowing is up 7.62 %, as On Aug 21, At 37 Lakh Ha Vs 34.38 Last Year.

As per market talk, cautious trade was witnessed in Urad as millers/traders are sidelined and waiting for Centre's notification regarding extension of import quota in Urad beyond 31st August.

Urad ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai FAQ FAQ 6200-6225 6150 5950 4475
Chennai FAQ 6025-6050 6000-6025 5900 4600
Chennai SQ 6875-6900 6800 6500 5775-5800
Jalgaon Desi 5900-7200 NA NA 4550-5250
Urad Dal ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai 7900-8700 8000-8700 8000-8700 5900-6100

Chana Kantewala (Indore):

Chana prices gained, for third straight week, Rs 75 at Rs 4,525-4,550/100Kg in Indore due to improved mill buying at prevailing rates on immediate requirement for crushing.

Moreover, trade volume was reported to be good in chana dal and besan. Demand of White Pea/besan/dal had also shifted to Chana/Kabuli Chana due to cheaper prices and easy availability.

Meanwhile, arrivals of seasonal domestic Chana are limited. Millers were facing difficulty in procuring good quality Chana for crushing. Nafed is not interested in liquidating its stock below Rs 4,500/100Kg.

In Mumbai, Tanzania-origin Chana went up Rs 75 at Rs 4,475/100Kg due to less stock.

Similarly, Russia Kabuli Chana gained Rs 50-75 at Rs 4,500/100Kg due to low stock. Sudan origin Kabuli Chickpea traded at Rs 4,600.

In forward business, Tanzania Chana traded at $585 per ton in container on CNF basis. Russia origin Kabuli Chickpea priced at $400-$410 per ton in container on CNF basis. Sudan origin Kabuli Chickpea quoted at $585-$590 per ton in container on CNF basis.

US origin Chickpea new 9mm (58-60 count) priced at $805 per ton in container on CIF basis for October-November shipment.

As per market talk, Chana prices are still attractive for millers/traders due to cheaper pulses. Even consumption is likely to increase as the economy comes out of lockdown and festive season demand is jacking up price that is still below the MSP of Rs 4,875. Less stock and negligible overseas supplies of Kabuli Chickpea and White Pea may support Chana prices.

Meanwhile, NAFED has indicated that the chana stocks procured so far will be sold through various government schemes announced (PMGKAY).

Chana ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai Australia NA NA NA 4200
Tanzania 4475 4400 4275 NA
Burma NA NA NA 4150
Indore Katewala 4525-4550 4450-4475 4350-4375 4300
Delhi Rajasthan origin 4625 4450 4350 4400
Akola 4650-4700 4525-4250 4450-4475 4475-4500
Bikaner 4350-4375 4250 4200 4225
Chana Dal ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Akola 5300-5800 5200-5600 5100-5600 5100-5700
Indore 5500-5800 5200-5600 5200-5600 NA
Jaipur 5400-5425 5250-5275 5125 5050
Chana Besan ( Prices In Rs / 50Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai 3325 3225 3181 3120
Kabuli Chana ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Indore 40-42 NA NA NA 6000
42-44 6950 6850 6700 5800
44-46 6750 6650 6500 5600
Dollar 6000-6500 5800-6200 5500-6000 5000-5600
Mumbai Sudan 4600 NA NA 4250
Ethiopia NA NA NA 4150
Russia 4500 4425-4450 4325 4075
Burma NA NA NA 4300

Imported Masoor (Mumbai):

Canada crimson variety and Australia origin Masoor ruled steady to firm at Rs 5,251-5,325/100Kg and Rs 5,375, respectively in Mumbai, amid selected mill buying at lower rates for immediate crushing requirement.

However, cheaper overseas supply of raw and processed Masoor and slow offtake in Masoor dal will limit the gains.

Similarly, Canada crimson variety Masoor at Hazira and Mundra port gained Rs 20-30 each at Rs 5,271/100Kg, respectively.

Vessel M V PAOLO TOPIC carrying 57,400 tonnes of Canada Masoor, arrived at Mundra Port on 4th Aug has started discharging its cargo.

Vessel M V RODOPI carrying 19,000 tonnes of Canada Masoor arrived at Kandla Port on 7th August and has started discharging its cargo.

Vessel M V SBI LYRA carrying 57,000 tonnes of Canada Masoor arrived at Kandla/Mundra port on 15th August, 2020. 27000 MT will be discharged at Mundra and balance cargo at kandla.

Vessel M.V. Fermita carrying 37,000 MT Masoor from Canada is arrived at Sagar/Kolkata.

As per market talk, cautious trade witnessed in Masoor as millers/traders are sidelined and waiting for Centre's notification regarding import duty in Masoor beyond 31st August.

As per market sources, Masoor prices are likely to be under pressure, in a range of Rs 100-200/100Kg on cheap, overseas supplies, if government extends lower duty imports beyond 31st August. Arrivals of new crop will begin from September-October in Canada. Prices may be supported, if government does not extend lower import duty beyond 31st August or else releases fix quota of Masoor import in the backdrop of massive overseas supplies.

Masoor ( Prices In Rs / 100Kg )
Market Variety 21-Aug-20 14-Aug-20 08-Aug-20 21-Aug-19
Mumbai Canada 5251-5325 5261-5325 5271-5350 3900-4100
Australia 5375 5350 5425 4200
Mundra Canada 5271 5231-5241 5251 NA
Hajira Canada 5271 5231-5241 5251 NA
Kolkata Canada 5350-5450 5200-5350 5225-5375 4100-4170
Australia 5500-5700 5475-5600 5500-5600 4200
Indore Desi 5425-5450 5450-5475 5400-5450 4150
Raipur Desi 5675-5700