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Lentil Prices Dip In Mumbai/KolKata, Steady In Delhi

25 Jan 2020 2:19 pm
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MUMBAI (Commodities control) –Lentil prices trade weak in pulses markets of Mumbai and Kolkata. The entire week witnessed a see-saw of price for lentils along with other pulses on account of weak participation by millers and crop damage reports raising concerns of output squeeze.

In Kolkata, Canada New Masoor trades Rs 50 lower at Rs 5025, while Australia Nugget/Nipper prices opened steady at Rs 5100-5125/100Kgs.

Barring Canada Masur at Hajira port, all the lentils in Mumbai are trading Rs 25 lower. Canada Crimson: Cont and Australia Nugget are quoted at Rs 4950 and Rs 5000, respectively. While Canada Masoor at Mundra port trades at Rs 4725-4750/100Kgs.

In Delhi, on Saturday, Canada lentil trades flat at Rs 4950.

Despite dull demand being the theme of the week, traders are of the opinion that millers’ purchase will likely recover next week onwards. This is likely to take masoor prices back to Rs 5300 levels, gradually though.

Market experts attribute this to firm international lentil prices. In Canada lentil prices are on the verge of rise this year. Statistics Canada in their December final estimate pulled the Canadian 2019/20 lentil harvest down to 2.17 MMT. While this past year’s lentil harvest is still 75,000 MT, 12%, or 307,000 below the five-year average.

Whereas in India through January 16, 2020, nearly 4M acres of lentils have been planted for the rabi/winter crop. That’s down about 222,000 acres, or about 5.3% year-over-year.

Traders expect some support for lentils due to expectation of domestic crop shortage. Market sees a minimum of 7-8 Lakh tonnes of import requirement for lentil in near-medium future.

Now market will keep an eye next week on the Hearing of Jaipur High Court on the non-issuance of Customs’ Clearance to Pulses container imported against the stay order. The containers have been stuck at the port for several weeks now.

The hearing was Postponed from 20th January and to 27th January now, as per market sources.

According to the sources, arrivals of new Masoor will likely be delayed due to late sowing and weather concerns.

(Commodities Control Bureau)

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