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Weekly: Most Pulses Firm Amid Low Level Buying, Barring Masoor

8 Jun 2020 9:07 am
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MUMBAI (Commodities control) – Tur, Moong, Chana and Urad remained firm for the week ended 6th June, While, imported Masoor slipped due to reduced import duty. On the other hand, domestic Masoor moved higher on Mills’ buying.

As per market experts, cautious trade in both raw/processed pulses was witnessed, wherein, purchase happened only as per requirement. Change in government policies, sufficient availability, crop arrivals, upcoming monsoon and liquidity crunch were the prime reasons behind it. However trade volume is likely to improve in coming days, as state government won’t be able to tax farm trade anymore. Amendment in Essential Commodities Act frees the Processors and value chain participants of any stock limit. Major Pulses were trading below MSP. Bulk buyers and stockiest may soon become active in the pulses industry.
Week Highlights

# State governments can’t tax farm trade under the new central law for inter-state trade that virtually allows farmers to sell their produce anywhere in the country without being impeded by the APMC mandis, according to the Ordinance issued on Friday.
# Amendment in Essential Commodities Act (ECA) Approved By Union Cabinet.
# The southwest monsoon hit Kerala, marking the commencement of the four-month long rainfall season - IMD.
# In bilateral agreement with Mozambique, India will purchase 2 lakh tonnes of pulses from the African nation. Through the financial year, imports of moong, peas and arhar will be undertaken.
# Gazetted notification by Ministry of Finance, stating that import duty in Masoor was reduced from 30% to 10% with immediate effect until 31st August 2020.
# Green lentil shipments from Canada jumped in May as compared with previous month. Shipments reached 42,876 metric tons (MT) for the month, up 38% from the 31,072 MT shipped the previous month.
# Lentils shipments from Australia are up for the current marketing year so far. Export sales have reached 402,394 MT, up from 117,430 MT during the previous marketing year. Total shipments during the month amounted to 57,457 metric tons (MT), down 25% from last month's shipments.
# Red lentil export shipments from Canada posted significant decline on a monthly basis. Total shipments during the month amounted to 127,833 metric tons (MT), down 30% from the previous month's total of 181,455 MT, However in the marketing year, so far, shipments have amounted to 1,076,348 MT, up from 883,517 in the same period last MY.
Govt Hikes MSP Of Kharif Pulses 2020-21
Commodity Kharif 2020-21 Kharif 2019-20 Percentage
Tur 6000 5800 3.45
Urad 6000 5700 5.26
Moong 7196 7050 2.07


India 2020-21 Kharif Pulses Sowing Up 31.09 % As On June 5, 2020
Commodity Area Sown In Lakh Hectare 2020-2021 Area Sown In Lakh Hectare 2019-20
Tur 0.28 0.09
Urad 0.25 0.3
Moong 0.41 0.27
Other Pulses 0.63 0.53
Pulses 1.56 1.19
Burma Lemon Tur:

Desi tur in Akola market gained for second straight week by Rs 75 to Rs 5,525-5,550/100Kg due to better mills’ buying. Meanwhile the seasonal arrivals have been below expectation due to fewer yields.

Similarly, Tur Lemon variety of Burma-origin moved higher by Rs 150 to Rs 5,050/100Kg for 2018 crop year and Rs 5,100 for 2019 crop year in Mumbai. However, price won’t sustain at higher rates as demand and sale counter in Tur dal reported slow activity.

Demand for Tur dal in open market is reducing and impacting prices, due to ongoing availability through Public distribution system (PDS) by government.

Sentiment came under pressure after government allowed the import of 200,000 tn of Tur in the current financial year from Mozambique.

The government has also allowed import quota of 4 lakh tonnes of Tur, in the fiscal year 2020-21, only by millers and refiners.

NAFED Procured 515312.13 MT (PSS)/ 125337.98 MT (PSF) Tur In Kharif-2019 Season, so Far, at MSP of Rs 5,800.

In near term, Tur prices are likely to trade range bound due to matching demand and supply.

Tur prices are likely to get support at lower rates due to lesser carryover stock. The millers/traders have been trading hand-to-mouth due to liquidity crunch and Government policy. Further price direction will depend on monsoon.

Tur ( Prices In Rs /100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai Lemon 5050-5100 4900 5000 5500
Akola Desi 5525-5550 5450-5500 5375-5400 6050-6075
Gulbarga Desi 5300-5400 5200-5300 5200-5300 5900-6000
Tur Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Akola Phatka 7800-7850 7650-7750 7600-7700 8300-8500
Gulbarga Phatka 7600-7900 7500-7900 7500-7900 8400
Katni Phatka 8050-8150 8050-8150 8000-8100 8450-8550

Burma Urad:

Burma Urad FAQ new variety traded unchanged at Rs 5,950/100Kg, in Mumbai, due to limited millers activity. On the other hand, Burma Urad SQ variety gained by Rs 350 to Rs 6,750/100Kg in Chennai on low level buying by millers. While FAQ variety ruled firm by Rs 50 to Rs 5,850.

Meanwhile, sellers were active at higher rates in ready business. Mills are cautious with their trades at prevailing rates; purchasing for immediate crushing requirements only. Regular overseas supplies at Chennai port and Rabi/Summer crop arrivals pressurised buyer sentiments.
Moreover in Chennai, sellers were active in forward trade at lower rates compared to ready prices.
Supreme Court Hearing on the pulses import case to take place on 17th June.

Demand and sale counters in Urad dal reported thin participation amid cash crunch.

Government shortened the deadline for Urad Import Annual Quota Of 4 lakh MT by 6 months to 31st August, 2020.
As per Burma-based trader, Indian buyers were sidelined and interested to purchase at lower rates for July shipment. Earlier, buyers purchased some quantity of Urad and are holding stock in Burma against deadline for Urad Import Annual Quota Of 4 lakh MT to 31st August, 2020. Stock of Urad was around 3 lakh tonnes.

Traders are of the opinion that Urad prices may get support at lower rates, but unlikely to sustain at higher prices, due to regular overseas supply and ongoing domestic arrivals.

Urad ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai FAQ FAQ 5950 5950 6200 4800
Chennai FAQ 5850 5800 6150-6175 4925-4950
Chennai SQ 6750 6400 6700 6125-6150
Jalgaon Desi 6400-6850 6300-6800 6500-6900 NA
Jabalpur Desi Summer 6500-6800 NA NA NA
Urad Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai 8600-9100 8500-9000 9000-9500 6400-6600

Chana Kantewala (Indore):

Chana prices traded higher by Rs 25 in a narrow range at Rs 4,150-4,175/100Kg in Indore. This was due to mill buying, to meet immediate crushing requirements, as some activity on demand and sale counter in Chana dal/besan was witnessed. Spot chana was seen tracking fluctuations in Chana futures.

Increased Pace of Chana procurement by government agency at MSP is supporting the prices at lower rates.

According to market sources, arrivals in domestic markets are below expectations, as farmers prefer to sell to government agency at MSP, instead of selling in open markets at lower rates. This is the reason why millers aren't getting enough supplies of raw Chana for crushing.

NAFED's stock liquidation at selected states and stock holding will continue to pressurize buyer sentiments at higher level.

As on June 4, 2020, NAFED has procured 12, 50,455.17 MT of Chana at MSP of Rs 4,875.

Chana ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai Australia NA NA NA 4450
Tanzania 3975 NA NA NA
Burma NA NA NA 4300
Indore Katewala 4150-4175 4125-4150 4100-4125 4400
Delhi Rajasthan origin 4125-4150 4100 4150 4625
Akola 4125-4150 4050-4075 4040-4050 4525-4550
Bikaner 4100 4050-4075 4080 4475
Chana Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Akola 5100-5400 5000-5300 4900-5300 5500-6000
Indore 5000-5400 5000-5400 5100-5500 NA
Jaipur 4875-4900 4825-4850 4900 5400
Chana Besan ( Prices In Rs / 50Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai 3100 3075 3100 NA
Kabuli Chana ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Indore 40-42 NA NA NA 6000
42-44 NA NA 6250 5800
44-46 NA NA 6150 5600
Dollar 5000-5500 5100-5500 5200-5500 4800-5400
Mumbai Sudan NA NA NA 4400
Ethiopia NA NA NA 4325
Russia 4100 NA NA 4250
Burma NA NA NA 4450


Imported Masoor (Mumbai):

Canada crimson variety and Australia origin Masoor fell by Rs 100 to Rs 5,500-5,600 and Rs 5,700/100Kg, respectively at Mumbai, amid slack millers' buying, unattractive crushing margins.

Sentiments in imported Masoor were dampened after import duty was reduced from 30% to 10% with immediate effect, until 31st August 2020.

There’s the upcoming supply of imported Masoor at Hazira and Kolkata port which additionally weigh on prices.

Meanwhile, demand and sale counter in processed Masoor reported slowness.

On the other hand, domestic Masoor traded higher by Rs 50-100/100Kg in major markets of Madhya Pradesh, Uttar Pradesh and Chhattisgarh, due to improved buying from local/outstation traders/millers at prevailing rates and below-expectation ongoing arrivals.

As on June 4, 2020, NAFED has procured 1338.88 MT of Masoor at MSP of Rs 4,800.

As per market view, Masoor prices are likely to garner support from limited stock of ready imported Masoor, higher import parity, below expectation arrivals of rabi masoor crop and lesser acreage.
Masoor ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai Canada 5500-5650 5600-5700 5500-5600 4000-4100
Australia 5700 5800 5700 4200
Mundra Canada 5400 5500 5400 NA
Hajira Canada 5450 5550 5475 NA
Kolkata Canada 5500-5600 5550-5600 5450-5500 4125-4150
Australia 5750-5800 5700 5650-5700 4300
Indore Desi 5350-5400 5350-5375 5250 4150
Raipur Desi 5600 5450-5500 5450-5500 4200-4225
Kanpur Desi 5825 5700 5575 4425
Masoor Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Khopoli 7000 7000 7100 5100-5150
Katni NA NA 7000 4950


Imported White Pea (Mumbai):

Prices of White Pea eased Rs 25 at Rs 4,600-4,700/100Kg at Kanpur market amid thin trade activity as millers preferred to stay with desi Chana/Kabuli Chana, due to cheaper prices and easy availability.

No quotes of imported White pea were available in Mumbai/Kolkata
for over two months, due to lockdown and negligible stock.

Supreme Court Hearing on the pulses import case to take place on 17th June.

Customs clearance of White Pea, in containers, at Mumbai and Chennai is pending. If the decision comes in favour of importers, prices may slip in the short term.

White Pea ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai Canada NA NA NA 4825
Kolkata Canada NA NA NA 5100
Kanpur 4600-4700 4625-4725 4550-4650 5050-5150
White Pea besan ( Prices In Rs / 50Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai 3600 3600 3650 NA
White Pea Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Mumbai 7100 7100 7200 NA


Moong (Jaipur):

Moong prices remained firm at Rs 7,200-7,300/100Kg in Jaipur market of Rajasthan, as per quality, on lower level mill buying.

Similarly, summer crop Moong gained by Rs 400-500/100Kg in producing centers amid mills’ buying at lower rates for immediate crushing requirement. Millers/traders from Delhi, Punjab, Haryana, Gujarat and Maharashtra were active in purchasing Moong from producing centers.

Arrival pressure is likely to slow down as farmers are busy preparing their Fields for Kharif cultivation.

Locust attack hit the summer moong crop in the several districts of Rajasthan, MP and UP.

Madhya Pradesh is expecting output of 5.76 lakh tonnes of moong, of which 25% will be procured by the Government agencies, i.e, 1.44lk tonnes of moong.

Stockiest are sidelined at current prices, despite lower stocks with government agencies and private traders/millers.

Arrival pressure of summer crop in Bihar/Jharkhand/Uttar Pradesh will keep a lid on prices.

As per market talk, moong prices are likely to get support at lower rates due to lesser availability with government agency and private traders. Millers prefer parity in crushing at lower rates.

As on June 4, 2020, NAFED has procured 1153.05 MT of Moong at MSP of Rs 7,050.

Moong ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Jaipur Kharif 7200-7300 7100-7300 8000-8200 5800-6300
Veraval Summer 6800-7500 6400-7000 6500/6900 NA
Harda Summer NA 6000-6590 NA NA
Moong Dal ( Prices In Rs / 100Kg )
Market Variety 06-Jun-20 30-May-20 23-May-20 06-Jun-19
Jaipur 8200-8300 8100-8300 9200-9300 7700
Gulbarga 9800 9900-10000 11000 8200
Akola NA NA NA 7500-8000


(By Commoditiescontrol Bureau; +91 9820130172)


       
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