MUMBAI (Commoditiescontrol) – Urad, Masoor, Chana, Kabuli Chana, White Pea and Green Pea slipped during the week ended Saturday ( Jan 06 - 11) due to dull trade activity at prevailing rates. While, Moong moved higher on millers/traders buying support. On other hand, Tur prices almost unchanged on limited activity.
Week Highlights
# IPGA Urges Govt To Remove Restrictions On Import Of Peas, Urad.
# Australian Lentil Exports Reach 65,000 MT In November, Up 7.5% M/M. Export sales for November 2019 stood at 65,135 metric tons (MT), up from 60,563 MT the prior month.
# Canada's Green Pea Exports Down 16% On Year. Green pea shipments, for the month of November, were reported to be 35,589 metric tons (MT), versus 35,706 MT the prior month. While the shipments during the marketing year stood at 93,545 MT, down 16% since last year.
Burma Lemon Tur:
Tur Lemon variety of Burma-origin ruled steady at Rs 5,000/100Kg in Mumbai amid limited millers trade activity as dullness was observed at demand and sale counters in Tur dal and ongoing new domestic arrivals in the producing centers.
Similarly, domestic Tur in bilty trade at Akola also traded almost flat at Rs 5,275-5,300/100Kg.
However, ongoing arrivals are below expectation and likely be delayed, due to unseasonal weather.
Millers preferred old Tur or imported variety over new one, due to higher moisture around 14-22 percent, to meet their crushing requirements as not much carry over stock left in the hands.
As per trade sources, stockiest and government agency are not interested in purchasing new Tur with high moisture content. They will consider buying the new stock, after the moisture content reduces and good quality arrive. New tur with lesser moisture content is expected to arrive, in major market, from February-March.
Millers have started delivering new, crushed Tur in Maharashtra, Gujarat and Karnataka.
Demand and sale counter in Tur dal reported slow activity.
Latur origin old Phatka variety traded unchanged at Rs 7,900-8,100/100Kg for spot. Gujarat origin Wasat old phatka variety at Rs 8,300-8,500/100Kg, Khamgaon origin old Phatka variety at Rs 7,700-7,900/100Kg (spot), Jalna origin old phatka variety at Rs 8,300-8,500/100Kg (spot) and Solapur origin old phatka variety at Rs 7,900-8,100/100Kg (Spot).
Latur origin new Phatka variety traded at Rs 8,300-8,400/100kg for spot. Gujarat origin Wasat new Phatka variety at Rs 8,600/100Kg and Jalna origin new Phatka variety at Rs 8,400-8,800 (Spot).
Burma Urad:
Burma Urad FAQ new/old variety widened losses for second straight week by Rs 100 each to Rs 7,050/100Kg and Rs 6,900, respectively at the Mumbai market as millers refrained from buying, due to slower offtake in processed Urad despite diminishing arrivals.
On other hand, In Chennai, Urad FAQ/SQ traded almost unchanged to Rs 7,400/100Kg and Rs 8,000-8,050, respectively in ready delivery as per condition.
Buyers have been sidelined and waiting for the hearing in Jaipur High court which will take place on 17th January 2020 on Customs non-clearance issue urad containers, imported against the stay order.
Buyers have also been cautious, since the government raised import quota of urad to 4 lakh tonnes, from 1.5 lakh tonnes, for the fiscal year 2019-20.
As per trade source, prices of Urad is likely to get support due to lower output, declining arrivals. Even the supply of Urad from Burma, under quota, is unlikely to reach Indian port before March end.
Bikaner origin branded Urad dal traded weak at Rs 9,400-9,600/100Kg for spot. Tiranga brand of Mumbai priced at Rs 9,900/100Kg for Mumbai delivery, Parivar brand of Jalgaon at Rs 9,400/100Kg for spot.
Chana Kantewala (Indore):
Chana prices traded almost steady at Rs 4,400/100Kg in Indore amid cautious buying from local millers at prevailing rates.
Sentiments are still under pressure due to improvement in Rabi Chana sowing and Government holding major stocks. Upcoming Chana crop is expected to be bumper and yields are likely to be higher due to favourable weather.
Meanwhile, steady arrivals of new domestic Chana is witnessed in selected markets of Karnataka.
The demand in chana dal and besan from wholesaler, retailer counters' is slack.
In Mumbai, Tanzania origin Chana declined by Rs 50 to Rs 4,300.
Similarly, Burma origin chana also fell by 50 at Rs 4,050/100Kg.
While, no quotes available of Australia origin Chana at Mumbai due to negligible stock.
Chana for January delivery on National Commodity and Derivatives Exchange (NCDEX), settled weak by 0.1 percent or Rs 6 down to Rs 4,450/100kg. Earlier, in the day, the contract hovered in the range of 4,389 and 4,450 on Friday.
Open interest for NCDEX January contract decreased to 10690 lots against 12380 lots.
On the other hand, open interest for March contract increased to 20960 lots against 17500 lots.
Open interest of top 10 trading clients in the long side was 14080 MT whereas the short position of top ten clients was 17260 MT. The net position of top 10 clients was net short by 3180 MT.
Chana stocks at NCDEX accredited warehouses stood at 864 metric tonnes (Bikaner 743, Jaipur 121) as on 9th January, the exchange data showed.
Old Domestic chana dal of Pistol brand ruled weak at Rs 5,400 for Spot, Angel brand at Rs 5,600 for Spot, Samrat brand at Rs 5,600 for Spot. While, Chana besan traded unchanged at Rs 3,160/50Kg.
New domestic Chana dal of Pistol brand traded at Rs 5,400 for Spot, Angel brand at Rs 5,700 for spot.
In Mumbai, Russia/Sudan/Ethiopia/Burma origin kabuli chana traded weak each by Rs 50-100 at Rs 4,200/100Kg, Rs 4,250-4,300, Rs 4,200 and Rs 4,150, respectively due to slack trade activity owing to less interest shown by besan flour millers, following weak trend in Chana.
Kabuli chana of 40-42, 42-44 and 44-46 counts slipped by Rs 200 each at Rs 6,650/100Kg, Rs 6,450 and Rs 6,300, respectively at Indore market amid dull local buying activity at higher rates.
Dollar variety Kabuli Chana also declined by Rs 200 at Rs 6,000-6,300/100Kg at Indore.
In forward business, Russia Kabuli Chickpea offered at $450 per ton in container on CNF basis JNPT for January-February shipment.
Imported Masoor (Mumbai):
Canada crimson variety Masoor along with Australia Masoor moved southward by Rs 50-100/100Kg at Mumbai pulses market as millers refrained from buying at existing rates despite limited stock.
Even demand in processed masoor from consumption centres was reported to be slack.
Canada origin red Masoor in container traded weak by Rs 50-75 at Rs 5,000-5,025/100Kg.
Similarly, Australia origin red Masoor also down by Rs 100 to Rs 5,050/100Kg.
Canada crimson variety Masoor also fell by Rs 100 each at Rs 4,875/100Kg and Rs 4,800 at Mundra and Hajira port, respectively.
Canada Masoor dal Khopoli spot traded lower at Rs 5,850/100Kg.
However, as per market view, prices of Masoor likely to get support in near future due to cheaper pulses, limited stock of ready imported Masoor in strong hands, higher import parity and a lag in sowing of rabi masoor.
In forward business, Canada crimson variety masoor new offered at $550 per ton in container on CNF basis JNPT for Jan/Feb shipment.
Imported White Pea (Mumbai):
Canada-origin White Pea at Mundra port, along with Ukraine origin White Pea in Mumbai slipped for second straight week by Rs 50-100/100Kg, amid sluggish buying and progress in sowing.
The peas could not find support, despite tightness in ready stock.
The reason for this dullness is shift in trading volume of White pea, as the preference stays with Chana/Kabuli Chana due to cheaper prices and easy availability.
Price of White Pea gained sharply some weeks back, after Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.
White Pea containers continue to be stuck at various ports due to non-issuance of Customs' clearance.
Canada White Pea at Mundra port slipped by Rs 50 to Rs 5,450/100Kg.
Similary, Ukraine White Pea in Mumbai declined by Rs 100 to touch Rs 5,500/100Kg.
Even prices of White Pea besan also traded weak following downtrend in raw White pea. Vatana besan traded lower at Rs 3,950/50 Kg. Vatana dal also declined at Rs 6,450.
Moong (Jaipur):
Moong prices traded higher by Rs 200 at Rs 7,400-7,900/100Kg as per quality at Jaipur market amid better buying activity by millers. Buyers interest coupled with declining Kharif moong arrivals and lower crop output supported the price rise.
Moreover, Demand and sale counters in processed Moong were reported to be satisfactory.
Millers continue to chase good quality moong, just enough to meet immediate crushing requirements.
Similarly, Moong dal also traded at Rs 9,000-9,200/100Kg depending on the variety.
At Naya bazaar market of Delhi, Rajasthan new kharif Moong traded higher at Rs 7,700-8,000/100Kg.
As per market view, prices of Moong likely to get further support because of diminishing arrivals of Kharif moong and lower crop output.
Canada Green Pea (Mumbai):
Canada origin Green pea also declined by Rs 200 at Rs 10300/100Kg at Mumbai due slack buying, despite Customs Department refusing to issue clearance to the containers stuck at Mumbai ports.
Prices gained sharply some weeks back, after Government imposed the CIF value of Rs 200 per kg as Minimum Import Price for peas.
Prices likely to get support due to shortage of ready stock. IPGA also urged the government should allow unrestricted import of dry green peas because the country would face shortage in the coming months. Fresh green peas are available at a lower price only between December-February, while in remaining period of a year, the demand is met through imports.
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(By Commoditiescontrol Bureau; +91-22-40015513)
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