MUMBAI (Commoditiescontrol) – Major raw pulses such as Tur, Urad, Moong, Chana, Masoor, Kabuli Chickpea continued to be remained lower week ended Saturday (June 24-29) amid sluggish trading activity at existing rates due to liquidity crunch, caution over government policy, monsoon arrivals in selected states and limited sale counters in processed pulses. While, White and Green Pea priced almost unchanged on thin buying activity.
Meanwhile, holding capacity of stock by private traders and millers has been decreasing day by day.
Week Highlights
# India Kharif Pulses Sowing Down 61.4 % As On June 28 At 3.42 Lakh Ha Vs 8.86 Last Year. Tur : 0.84 Vs 3.69, Urad : 0.62 Vs 1.05, Moong : 1.04 Vs 2.75, Other Pulses: 0.90 Vs 1.30.
# India's Monsoon Rains 24% Below-Average For Week Ended June 26: IMD. Monsoon Covers Nearly Half Of India, To Accelerate Sowing Of Summer-Sown Crops. The rainfall deficit has come down to 38% from last week's 44%. By the end of the month, it would be much lower.
Burma Lemon Tur:
Tur Lemon variety of Burma origin declined by Rs 150 to Rs 5,200/100Kg in Mumbai amid dull trade activity from mills as demand and sale counters in processed Tur were reported limited from consumption centers and on cash crunch.
Similarly, domestic tur in bilty trade at Akola also traded weak by Rs 100 at Rs 5,725-5,750/100Kg.
Small traders/millers were active to liquidate stock to book profits after arrivals of monsoon in key Tur producing areas and also due to government policy on imports. But, demands for seed for sowing purpose will rise and also arrivals of Tur will dry up in local market as farmers will be busy in sowing. Demand in processed Tur is expected in 1st week of July.
Meanwhile, DGFT has started issuing licence to millers. Some millers have already received and rest are in process and will receive soon.
DGFT has also clarified that pulses import quota of Tur, Urad and Moong, allocated to millers is meant for processing and if anyone sell without processing in open market, strict action will be taken on them. Licence will be given with actual user condition.
As per local Burma based trader, pulses cargo will be loaded for India after India issues licences to all millers.
India Kharif Tur Sowing Down 77.2 % As On June 26 At 0.84 Lakh Ha Vs 3.69 Last Year. Karnataka:0.13 Vs 1.22, Maharashtra:0.01 Vs 1.14, Uttar Pradesh:0.3 Vs 0.4, Gujarat: 0.02 Vs 0.08, Telangana:0.21 Vs 0.58. Total:0.84 Vs 3.69.
Latur origin new Phatka variety priced lower by Rs 50 at Rs 8,250-8,450/100Kg for spot. Gujarat origin Wasat new phatka variety ruled weak by Rs 50 at Rs 8,600-8,900/100Kg, Khamgaon origin new Phatka variety at Rs 8,100-8,300/100Kg (spot), Jalna origin new phatka variety at Rs 8,400-8,700/100Kg (spot) and Solapur origin new phatka variety at Rs 8,200-8,400/100Kg (Spot).
Burma Urad:
Burma Urad FAQ variety remained weak by Rs 175 to Rs 4,550/100Kg at the Mumbai market because of dull trade at prevailing rates on liquidity crunch and weak cues from Chennai.
Buyers are cautious after arrival of monsoon in selected states, such as Rajasthan (Pratapgarh)- MP (Mandsaur) border areas, Maharashtra and Karnataka, arrivals of summer crop in Madhya Pradesh /Gujarat and as Nafed is also active to liquidate old/new procured stock in selective states.
Moreover, demand for processed urad remained sluggish from consumption centers.
Similarly, In Chennai, Urad FAQ/SQ variety moved lower by Rs 325-350 at Rs 4,500-4,525/100Kg and Rs 5,600-5,625, respectively in ready delivery as per condition.
Bikaner origin branded Urad dal ruled at Rs 6,100-6,300/100Kg for spot. Tiranga brand of Mumbai also traded at Rs 6,800/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,150/100Kg for spot.
NAFED has successfully procured 17740.89 MT of Urad 1n Rabi-2019 Season at Minimum Support Price of Rs 5,600 as on June 27, 2019. Tamil Nadu:3379.07, Andhra Pradesh:12797.05, Telangana:961.8, Odisha:602.97.
Chana Kantewala (Indore):
New Chana traded weak by Rs 125-150 at Rs 4,100/100Kg in Indore following weak cues from futures and on dull millers buying activity as demand and sale counters in processed Chana/besan were limited.
Similarly, Australia origin Chana in ready business at Mumbai fell by Rs 50 at Rs 4,200/100kg amid dull trade, average quality supply and also due to very limited availability of stock.
Burma origin chana also ruled weak by Rs 25 at Rs 4,150/100Kg.
Due to nervousness in the market amid slow pace of Chana procurement by Nafed, farmers and stockists were liquidating their stock in the markets.
Activity was dull due to cash crunch. Sentiments were also pressurised as Nafed is selling old procured Chana in Maharashtra.
NAFED Procured 772468.19 MT Chana In Rabi-2019 Season as on June 27,2019.Telangana:34500, Rajasthan:117692.76,Maharashtra:22346.35, Madhya Pradesh:576745.58,Andhra Pradesh:3470.85, Gujarat:17068.4, Haryana:207.6, Uttar Pradesh:408.2, Karnataka:28.45.
Balance Stock of procured Chana during Rabi-18 season with Nafed is 1622597.60 MT as on 27 June, 2019.
Chana for July delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.6 percent or Rs 24 at Rs 4,213/100kg. Earlier, in the day, the contract hovered in the range of 4,212 and 4,253 on Friday.
Chana stocks at NCDEX accredited warehouses stood at 100428 metric tonnes (Indore: 192, Bikaner 73,348, Jaipur 26,888) as on 27th June, similar metric tonnes from the previous session, the exchange data showed.
Australian chana dal priced weak by Rs 50 at Rs 5,200/100 Kg for spot on slack trade activity. Domestic chana dal of Pistol brand also ruled weak at Rs 5,450 for Spot, Angel brand at Rs 5,650 for Spot, Samrat brand at Rs 5,750 for Spot. Chana besan also eased at Rs 3,150/50Kg, Vatana besan at Rs 2,930/50 Kg and Vatana dal at Rs 5,300.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana remained weak each by Rs 50-100 at Rs 4,050/100Kg, Rs 4,150, Rs 4,100 and Rs 4,300, respectively.
Kabuli chana of 40-42, 42-44 and 44-46 counts traded lower by Rs 100 at Rs 5,650/100Kg, Rs 5,450 and Rs 5,250, respectively at Indore market amid thin local buying and ongoing arrivals.
In forward business, Russia Kabuli Chickpea offered at $415 and Burma FAQ V2 at $650 per ton in container on CNF basis JNPT for ready shipment.
Prices of Chana likely to depends on government policy. However, Chana prices are likely to get support due to decreasing arrivals because of lower output these season, lower import quota of White Pea for this year and also as crushing of Chana has increased due to cheaper prices and easy availability compared to White Pea/Tevda/Batri.
But, market players were fear that Nafed will liquidate old procured balance stock. In the current season so far, Nafed has procured very less Chana as compared to last year.
Regular supply of Kabuli Chickpea at cheaper rates is also pressurising prices of chana as it is used for crushing as a subsitiute of White Pea and Chana.
Imported Masoor (Mumbai):
Canada crimson variety red Masoor in vessel/container along with Australia red Masoor slipped by Rs 75/100Kg at Mumbai due to cash crunch, dull millers trade activity, regular imports, availability of imported stock and also following weak trend in other pulses.
Moreover, demand in processed masoor from consumption centres remained subdued.
Canada origin red Masoor in vessel/container new priced lower by Rs 75 at Rs 3,975/100Kg and Rs 4,075, respectively.
Similarly, Australia origin red Masoor also ruled weak by Rs 75 to Rs 4,175/100Kg against limited stock.
Moreover, demand in processed masoor from consumption centres was reported thin. Canada Masoor dal Khopoli spot traded at Rs 4,950-5,000/100Kg.
Vessel M V Ocean Makmur carrying 36614 tonnes of Canada red Masoor is expected to arrive at Mundra port on 30 June, 2019, according to a shipping agency.
In forward business, Canada crimson variety masoor new offered at $445 per ton in container on CNF basis JNPT for July-Aug shipment.
NAFED Procured 56219.92 MT Masoor In Rabi-2019 Season as on June 27,2019. Madhya Pradesh:56075.02, Uttar Pradesh:144.9.
Imported White Pea (Mumbai):
Canada and Ukraine origin White Pea new traded unchanged in Mumbai on slow buying as per immediate requirement at prevailing rates and amid limited imported stock in Mumbai as the government has not yet released the quota for millers to import White Pea.
Canada and Ukraine origin White Pea new traded each at Rs 4,725/100Kg and Rs 4,760, respectively.
Moreover, crushing in Chana/Kabuli Chana has increased due to cheaper prices and easy availability compared to White Pea.
Demand for matar dal/besan remained slack at prevailing rates.
In forward business, Canada origin White Pea offered at $325 per ton in container on CNF basis JNPT for June shipment.
Moong (Jaipur):
Moong prices declined by Rs 300-400 at Rs 5,300-5,600/100Kg as per quality at Jaipur market amid dull millers trade activity and also increased arrivals of new summer crop moong in Madhya Pradesh, Uttar Pradesh. Daily total arrivals of 80,000-90,000 bags in Madhya Pradesh have pressurised the sentiments as per Delhi based trader.
Buyers from Delhi and Gujarat prefers to purchase new Summer crop Moong from Madhya Pradesh instead of buying old Moong from Rajasthan.
Moong dal prices remained weak by Rs 300-400 at Rs 7,000/100Kg, depending on the variety.
Prices of Moong likely to get support as Cabinet may hike MSP Of kharif crops for Season 2019-20 and also Commodity exchange NCDEX has received the nod to launch moong futures by markets regulator Securities and Exchange Board of India (Sebi).
Sowing of Kharif Moong/Urad has been delayed in the key producing areas due to delayed monsoon and less rainfall. Farmers are likely to switch over to other crops, such as Cotton/Tur/Soybean.
Moreover, decreasing stock with Nafed will supported the prices. Major stock of Moong were witnessed in Rajasthan.
NAFED has successfully procured 20953.78 MT of Moong in Rabi 2019 season at Minimum Support Price of Rs 6,975 as on June 27, 2019.Tamil Nadu: 5263.49, Andhra Pradesh:12429.05, Gujarat:2066.15, Odisha:1195.09.
Canada Green Pea (Mumbai):
Canada origin Green pea priced flat at Rs 6,600/100Kg at Mumbai amid limited trade activity, overseas supply, following weak trend in other pulses and on availability of sufficient stock in cold storage and godowns.
(By Commoditiescontrol Bureau; +91-22-40015513)
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