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Weekly: Urad Post Strong Gains This Week On Concerns Of Crop Damage

28 Sep 2019 6:11 pm
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MUMBAI (Commoditiescontrol) – Urad, Masoor, Chana and Kabuli Chickpea moved higher during week ended Saturday (Sep 23-28) on millers buying support as demand and sale counter in processed pulses reported good at lower rates. While, Tur, White Pea and Moong remained weak on the absence of buying support. On other hand, Green Pea priced almost flat on limited trade activity.

Week Highlights

# India Kharif Pulses Sowing Down 1.74 % As On Sep 27 At 134.02 Lakh Ha Vs 136.40 Last Year. Tur : 45.82 Vs 45.75, Urad : 38.83 Vs 39.56, Moong : 31.16 Vs 34.25, Other Pulses: 17.43 Vs 16.11.
# 1st Advance Estimates kharif pulses production 2019-20 Vs 2018-2019( In Million Tons). Tur – 3.54 V/s 4.08, Urad-2.43 V/s 2.65, Moong-1.42 V/s 1.58. TOTAL:8.23 V/s 9.22.
# India Gets 37% Above-Average Monsoon Rains In The Week Ended Sept 25; Overall Surplus At 6%.

Burma Lemon Tur:

Tur Lemon variety of Burma origin ruled steady to weak to Rs 4,850/100Kg in Mumbai amid slack millers trade activity due to average quality supply from Burma, upcoming supply from Africa in near future, cash crunch and also as demand and sale counters in Tur dal remained thin.

On other hand, domestic tur in bilty trade at Akola traded weak by Rs 75 at Rs 5,675-5,700/100Kg.

Moreover, Nafed is also active to liquidate old procured stock in Maharashtra, Gujarat and Karnataka. However, Nafed has rejected bids in Gujarat/Karnataka.

Latur origin new Phatka variety traded lower by Rs 100 at Rs 7,900-8,100/100Kg for spot. Gujarat origin Wasat new phatka variety at Rs 8,300-8,500/100Kg, Khamgaon origin new Phatka variety at Rs 7,700-7,800/100Kg (spot), Jalna origin new phatka variety at Rs 8,100-8,300/100Kg (spot) and Solapur origin new phatka variety at Rs 7,700-7,800/100Kg (Spot).

India 2019-20 State wise Kharif Tur Sowing Up 0.2 % As On Sep 25 Vs Last Yr (LAKH HA). Karnataka: 11.94 V/s 9.92, Maharashtra: 12.08 V/s 12.34, Uttar Pradesh:3.51 V/s 3.47, Gujarat:2.1 V/s 2.55, Madhya Pradesh:5.06 V/s 6.25, Telangana:2.87 V/s 2.78, Andhra Pradesh:2.27 V/s 2.2, Chhattisgarh: 1.28 V/s 1.29. Total:45.82 V/s 45.75.

Burma Urad:

Burma Urad FAQ old/new variety traded sharply higher by Rs 525 each to Rs 5,200/100Kg and Rs 5,300, respectively at the Mumbai market due to shortage of ready stock, millers buying support and fears of even more damage to crops as Madhya Pradesh/Uttar Pradesh/Rajasthan and Maharashtra are still receiving rains.

Upcoming supply of Urad from Burma is expected in October at Chennai port and no supply is expected at Mumbai port.

Moreover, prices were supported by the concerns of crop damage which may result in lower yield and degradation in quality.

Similarly, In Chennai, Urad SQ/FAQ new variety traded up by Rs 300-400 at Rs 6,600100Kg and Rs 5,500, respectively in ready delivery as per condition.

Good demand for Maharashtra origin new Urad was reported from southern market due to superior quality.

As per local trader of Burma, loading of pulses for India (Chennai) was reported in via vessel on 23rd, 27th and 29th September at Yangon port.

Moreover, direct vessel for India (Chennai) is expected on 12th, 20th and 23rd October and expected to be reach Chennai within 4-5 days.

Around 1500 containers of Urad/Tur is likely to be loaded in direct vessel for Chennai in October. As no via or direct vessel is for Nhava sheva port.

India 2019-20 State wise Kharif Urad Sowing Down 1.85 % As On Sep 25 Vs Last Yr (LAKH HA). Maharashtra:2.99 V/s 3.96, Karnataka:0.69 V/s 0.84, Rajasthan:4.61 V/s 4.72, Madhya Pradesh:16.5 V/s 15.52, Uttar Pradesh:7.02 V/s 6.88, Gujarat:0.87 V/s 1.07, Telangana: 0.23 V/s 0.24, Andhra Pradesh:0.09 V/s 0.18, Tamil Nadu: 0.32 V/s 0.37, Uttrakhand: 0.3 V/s 0.29, Total:38.83 V/s 39.56.

Bikaner origin branded Urad dal traded higher at Rs 6,600-6,900/100Kg for spot. Tiranga brand of Mumbai also traded up at Rs 7,400/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 6,800/100Kg for spot.

NAFED has successfully procured 6.50 MT of Urad Kharif-2019 at Minimum Support Price of Rs 5,700 as on September 26, 2019.Tamil Nadu:6.50.

As per market talk, prices of Urad may rise further till next fortnight as supply pressure from Burma is expected from mid october. Moreover, prices likely to get support on concerns about crop damage more as still receiving rains in Urad producing centers. Withdrawl of monsoon expectation is around third week of October. Pace of domestic arrivals likely to increase if weather gets clear and expected around and after diwali. However, Nafed's activeness in liquidating old procured stock, but no major stock is left with Nafed.

Chana Kantewala (Indore):

Chana prices gained by Rs 25-50 at Rs 4,250/100Kg in Indore amid millers buying activity at lower rates as per immediate requirement for crushing.

However, demand and sale counters in Chana dal and besan was reported limited.

Sentiments were still pressurised as Nafed is active in liquidating old/new procured stock on daily basis in selective states.

Still, government holding major stock of old Chana ( Rabi -2018) around 1133270.39 MT and (Rabi- 2019) 597919.76 MT as On 28th September, 2019.

Australia origin Chana in ready business at Mumbai traded higher by Rs 100 at Rs 4,300/100kg amid millers trade and also due to very limited availability.

Similarly, Burma origin chana also gained by Rs 100 at Rs 4,200/100Kg.

Chana for October delivery on National Commodity and Derivatives Exchange (NCDEX), was ended lower by 0.6 percent or Rs 26 at Rs 4,292/100kg. Earlier, in the day, the contract hovered in the range of 4,251 and 4,342 on Friday.

Open interest for NCDEX Chana October contract decreased to 48680 lots against 54440 lots.

On other hand, open interest for November contract increased to 42860 lots against 40030 lots.

Open interest of top 10 trading clients in the long side was 49660 MT whereas the short position of top ten clients was 45680 MT. The net position of top 10 clients was net long by 3980 MT.

Chana stocks at NCDEX accredited warehouses stood at 49437 metric tonnes (Indore: 81, Bikaner 34,861, Jaipur 14,495) as on 26th September, down from 53098 metric tonnes in the previous session, the exchange data showed.

Australian chana dal traded firm by Rs 50 at Rs 5,200/100 Kg for spot on limited trade activity. Domestic chana dal of Pistol brand also ruled higher at Rs 5,450 for Spot, Angel brand at Rs 5,650 for Spot, Samrat brand at Rs 5,750 for Spot. On other hand, Chana besan remained flat at Rs 2,990/50Kg, Vatana besan at Rs 3,200/50 Kg, Vatana dal at Rs 5,800.

In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded higher each at Rs 4,200/100Kg, Rs 4,275, Rs 4,200 and Rs 4,350, respectively amid buying support from besan flour millers due to cheaper prices as compared to White Pea.

Kabuli chana of 40-42, 42-44 and 44-46 counts priced flat each at Rs 5,750/100Kg, Rs 5,550 and Rs 5,350, respectively at Indore market amid limited local buying against sufficient stocks.

In forward business, Russia Kabuli Chickpea offered at $400 per ton in container on CNF basis JNPT for ready shipment.

As per market view, prices of Chana likely to get support more for short term period as buying is to increase ahead for the short term period with rise in consumption demand during festive period till Diwali. Balance stock of Chana with Nafed is upto three month consumption period. Some stock will be there in hands of private traders. New crop will come from January-February.

Imported Masoor (Mumbai):

Canada crimson variety Masoor in vessel/container along with Australia Masoor moved higher by Rs 25-50/100Kg at Mumbai due to millers buying support at prevailing rates and following firm trend in other pulses.

However, consumption of Masoor is increased due to cheaper pulses.

Canada origin red Masoor in vessel/container new traded firm by Rs 25-50 at Rs 3,925/100Kg and Rs 4,050, respectively.

Similarly, Australia origin red Masoor also ruled higher by Rs 50 to Rs 4,150/100Kg.

However, demand in processed masoor from consumption centres was reported limited. Canada Masoor dal Khopoli spot traded unchanged at Rs 4,925-4,975/100Kg.

In forward business, Canada crimson variety masoor new offered at $420 per ton in container on CNF basis JNPT for Sept-Oct shipment and Australia Nugget variety Masoor offered at $415 per ton in container on CNF basis JNPT for Sept-Oct shipment.

Imported White Pea (Mumbai):

Canada and Ukraine origin White Pea fell by Rs 25/100Kg for second straight week in Mumbai because of thin buying support from local and outstation traders/millers at prevailing rates amid cash crunch and upcoming fresh supply at Mumbai port.

Canada and Ukraine White Pea traded lower each at Rs 5,031/100Kg and Rs 4,911, 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.

Moong (Jaipur):

Moong prices remained weak at Rs 5,900-6,200/100Kg as per quality at Jaipur market amid thin millers trade activity.

On other hand, Moong dal prices traded flat at Rs 7,300/100Kg, depending on the variety.

New Moong traded mixed at major markets of Karnataka, Telangana, Maharashtra and Rajasthan due to slow millers trade as per quality against increasing arrivals, cash crunch, overseas supply and also Nafed active in liquidating old procured stock in selected states.

In Delhi, Madhya Pradesh origin summer crop Moong traded at Rs 5,600-6,200/100Kg as per quality. Kanpur origin at Rs 5,900-6,000, Allahabad origin at Rs 6,200-6,250/100Kg. Rajasthan new kharif Moong priced at Rs 5,500-6,100/100Kg at Delhi market. Haryana origin new kharif Moong quoted at Rs 5,900-5,925.

At present, moong is trading below the MSP of Rs 7,050 per quintal. Pace of procurement by Nafed is still slow and reported at Tamil Nadu and Telangana.

NAFED has successfully procured 1041.78 MT of Moong Kharif-2019 at Minimum Support Price of Rs 7,050 as on September 26, 2019.Tamil Nadu:22.70, Telangana: 1019.08.

India 2019-20 State wise Kharif Mung Sowing Down 9.02 % As On Sep 25 Vs Last Yr (LAKH HA).Karnataka:2.69 V/s 4.23, Maharashtra:3.29 V/s 4.11, Rajasthan: 18.31 V/s 19.02, Madhya Pradesh: 1.82 V/s 2.1, Uttar Pradesh:0.82 V/s 0.63, Gujarat:0.93 V/s 0.63, Tamil Nadu: 0.17 V/s 0.2, Andhra Pradesh: 0.09 V/s 0.12, Odisha: 1.64 V/s 1.74, Telangana: 0.71 V/s 0.73. Total: 31.16 V/s 34.25.

Moong for October delivery on National Commodity and Derivatives Exchange (NCDEX), was settled higher by 1.2 percent or Rs 72 at Rs 5,880/100kg. Earlier, in the day, the contract hovered in the range of 5,860 and 5,890 on Friday.

In NCDEX Moong, Open interest of top 10 trading clients in the long side was 210 MT whereas the short position of top ten clients was 270 MT. The net position of top 10 clients was net short by 60 MT.

Open interest for NCDEX Moong October contract decreased to 265 lots against 275 lots.

In forward business, Mozambique Moong new offered at $760 per ton on CNF basis JNPT for ready shipment.

Prices of good quality Moong likely to get support at lower rates on concerns about crop damage more as still receiving rains in Moong producing centers, resulting in lower yield and degradation in quality. Buying is to increase ahead for the short term period with rise in consumption demand during festive period till Diwali. However, Nafed's activeness in liquidating old procured stock, but no major stock is left with Nafed.

Canada Green Pea (Mumbai):

Canada origin Green pea remained more or less unchanged to Rs 6,850-7,100/100Kg at Mumbai amid limited buying activity as per requirements against regular supply from overseas coupled with availability of sufficient stock at Mumbai cold storages and godowns.

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


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