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Weekly: Tur-Chana Extends Rally For Majority of The Week, While Masoor- Moong Buckles Under Thin Activity

5 Oct 2020 11:21 am
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MUMBAI (Commodities control) – Tur and Chana extended rally for the week ended 3rd October amid improved mill buying activity, While Urad, Masoor, Kabuli, Moong and White Pea remained weak on thin activity.

Weekly Highlights

# India Receives Above Average Rains for 2nd Year in a Row--IMD.
# Farmers’ Empowerment is Government’s priority – Piyush Goyal
# The proposal from the States, approval has been accorded for procurement of 14.09 LMT of Pulse and Oilseeds for Kharif Marketing Season 2020 for the States of Tamil Nadu, Karnataka, Maharashtra, Telangana and Haryana.
# Upto 29.09.2020, the Government through its Nodal Agencies has procured 46.35 MT of Moong having MSP value of Rs.33 lakhs benefitting 48 farmers in Tamil Nadu.

Burma Lemon Tur:

Tur Lemon variety of Burma-origin, both old and new, continued to trade higher by Rs 400 to Rs 6,800-7,000/100Kg, in Mumbai, due to weak availability of imported-domestic Tur and reports of crop damage and delay in new crop arrivals in Karnataka and Maharashtra amid rains.

Moreover, improved trade activity in processed Tur supported prices as vegetables are costlier.

Higher bids were reported in FCI tender at Karnataka, to purchase old procured Tur.

Government’s holding 5.48 LMT as on 15th July 2020. Government is likely to transfer around 2 LMT Tur procured under PSS (Kharif 2019-20) to PSF.

Similarly, domestic variety Tur traded higher by Rs 500-525 to Rs 7,800-7,850/100Kg at benchmark market Akola, on improved local and outstation mill purchase due to immediate requirement for crushing.

As per market view, some profit booking is likely to be witnessed at higher rates amid expectations of arrivals of 1.5-2 Lakh tons of tur supplies from Mozambique.

Overall tur prices are likely to rally further as arrivals of new domestic crop are still three months away. Moreover, import parity will also be higher, if government gives import quota to millers. Reports of crop damage in Karnataka and Maharashtra, amid rains, underpins the pulses.

Tur ( Prices In Rs /100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai Lemon 6800-7000 6400-6600 5950-6150 4800
Akola Desi Bilty 7800-7850 7300-7325 6825-6850 5600-5625
Gulbarga Desi NA 7000-7300 6600-6900 5400-5500
Tur Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Akola Phatka 10400-10600 9800-10000 9100-9300 7700-7900
Gulbarga Phatka NA 9800-10200 9200-9600 7600-7700
Katni Phatka 10500-10600 9900-10000 9200-9300 8050-8150

Burma Urad:

Price of Burma Urad FAQ new variety dulled by Rs 50 to Rs 7,450/100Kg, in Mumbai.

Similarly in Chennai, Burma Urad FAQ-SQ varieties declined to Rs 100-200 at Rs 7,500/100Kg and Rs 8,600 respectively.

Sentiments was pressurised after DGFT notifies quota for import of 1.5 Lakh tonnes of urad for the period up to 31st march 2021.

The quota of 1.5 Lakh MT of urad shall be distributed equally or for the quantity applied, whichever is lower, among the eligible and verified applicants, who were allotted quota for import of urad in June 2020.

But, Urad prices rise in Burma and no sellers are active yet. Import parity would also be higher. Urad stock in Burma was reported to be around 2.5-3 Lakh tonnes.

As per a Burma-based trader, around 50,000 tonnes of Urad has already been traded by India buyers earlier in the range of Urad FAQ at $750/ton and SQ variety at $850/ton.

Meanwhile, no overseas supply pressure was reported. Chennai traders were still busy in settling forward trade against September month delivery as sellers have to give delivery.

No arrivals pressure of new crop has been witnessed yet. Stockiest were active in purchasing good quality Urad.

Government is holding 2.19 LMT as on 15th July 2020. Also, government agencies have commenced liquidating old procured stock.

As per market view, prices are likely to get support at lower rates due to no overseas supply pressure, damage to yield and quality of domestic Urad, limited carry over stock with government/private traders, fresh hike in MSP by the government despite report of higher kharif output in the country this year and record production estimates.

Urad ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai FAQ FAQ 7450 7500 6800-6850 5200-5250
Chennai FAQ 7500 7625-7650 6700 5650
Chennai SQ 8600 8825-8850 7700-7800 6600
Jalgaon Desi 7150-7400 NA NA 5500-6000
Urad Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai 10000-10400 10000-10400 8400-9150 6600-6800

Chana Kantewala (Indore):

Chana prices moved higher by Rs 50 to Rs 5,400-5,450/100Kg in Indore as millers were facing difficulty in procuring good quality supplies for crushing amid declining stocks with NAFED.

However, the rumour of duty reduction on imported chana has kept the buyers away from making aggressive purchases. Duty is not applicable on Imports from Sudan and Tanzania, while, it is applicable from Russia and Australia-origin.

Meanwhile, good demand in chana dal and besan from consumption centres continue to support the pulse price.

Also, NAFED has been active at liquidating stocks at higher rate and rejected bids of lower rates.

Government is holding 22.52 LMT in PSS stock and 1.30 LMT available in PSF stock as on 15th July 2020.

In Mumbai, Tanzania-origin Chana traded almost steady at Rs 5,400/100Kg due to supplies from its origin.

Sudan and Russia-origin Kabuli Chickpea was steady to firm at Rs 5,550 and Rs 5,450, respectively.

Supplies of Russia-origin Kabuli Chickpea are expected from mid-October. However, crop is reported to be 30-40% lower.

As per market talk, Chana prices are likely be underpinned due to demand hopes of increased consumption amid festive season. Negligible overseas supplies of White Pea will likely support Chana prices further. However supply of Kabuli Chickpea has been witnessed, but parity is higher.

Demand of seeds for sowing is expected to rise as rabi sowing begins from October. As per market sources, sowing has begun in some places of Andhra Pradesh.

Chana ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai Australia NA NA NA 4225
Tanzania 5400 5350-5400 5000 NA
Burma NA NA NA 4150
Indore Katewala 5400-5450 5350-5400 5075-5100 4300-4325
Delhi Rajasthan origin 5425-5450 5450-5475 5150 4400
Akola 5525-5550 5525-5550 5100-5125 4425-4450
Bikaner 5300 5250 5000 4225
Chana Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Akola 6500-7000 6300-6900 6100-6500 5100-5700
Indore 6500-7000 6200-6500 6100-6400 NA
Jaipur 6350 6300-6325 6050-6075 5300
Chana Besan ( Prices In Rs / 50Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai 3800 3750 3550 2990
Kabuli Chana ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Indore 40-42 NA NA NA 5750
42-44 7500 7650 7500 5550
44-46 7350 7500 7300 5350
Dollar NA 6800-7100 6500-7200 4800-5200
Mumbai Sudan 5550 5450-5500 5200-5250 4200
Ethiopia NA NA NA 4150
Russia 5450 5400-5450 5150 4150
Burma NA NA NA 4350

Imported Masoor (Mumbai):

Canada crimson variety and Australia-origin Masoor in Mumbai declined Rs 75-100 at Rs 5,281-5,350/100Kg and Rs 5,400, respectively in Mumbai, amid slack mill buying.

Availability of imported raw and processed Masoor stock at cheaper rates, slow offtake in processed Masoor and reduced import duty has dampened the sentiments.

Similarly, Canada crimson variety Masoor at Hazira and Mundra port fell Rs 75 each, at Rs 5,281/100Kg and Rs 5,271, respectively.

Moreover, trade activity was also thin as major markets of Madhya Pradesh were closed protesting against government to reduce mandi tax.

As per market talk, Masoor prices are likely to get some support at prevailing rates due to cheaper prices compared to other pulses, depleting imported stock and hike in MSP to Rs 5,100/100Kg.

Demand of seeds for sowing is expected to grow as rabi sowing will be begin from October.

Masoor ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai Canada 5281-5350 5350-5450 5261-5350 3875-4000
Australia 5400 5525 5400-5425 4100
Mundra Canada 5271 5331-5341 5241-5251 NA
Hajira Canada 5281 5351 5241-5251 NA
Kolkata Canada 5350-5400 5375-5450 5300-5350 4150-4250
Australia 5550-5700 5550-5750 5500-5700 4300
Indore Desi 5600-5650 5600-5650 5500-5550 4050-4100
Raipur Desi NA NA NA 4250
Kanpur Desi 5875 6000 5850 4375
Masoor Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Khopoli 6400 6400 6350 5100-5200
Katni NA NA NA 4825

Imported White Pea (Mumbai):

White Pea prices slipped Rs 150 to Rs 6,350/100Kg at Kanpur market on thin trade.

On the other hand, price of White pea, besan and dal traded firm amid shortage. Moreover, crushing of White Pea for making dal and besan by mills were less interesting due to unavailability of White Pea. Major mills have halted the crushing activity in White Pea.

Customs department has not released the imported pulses yet, as the release will contradict the government’s existing policy.

White Pea ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai Canada NA NA NA 4975
Kolkata Canada NA NA NA 5200
Kanpur 6350 6450 6350 5350
White Pea besan ( Prices In Rs / 50Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai 3900 3750 3700 3200
White Pea Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Mumbai 7100 7000 7000 5800

Moong (Jaipur):

Moong old prices dropped Rs 200 at Rs 7,500-7,600/100Kg in Jaipur market of Rajasthan, as per quality, amid thin mill buying as demand and sale counters in processed Moong reported limited participation.

Moreover, arrivals of new kharif moong are going on in major producing centers.

On other hand, new kharif Moong traded firm as per quality.

Yield and quality of new Moong is affected due to rains in major producing centers. Moreover, crop is reportedly damaged due to Yellow Mozaic disease and locust attacks in Rajasthan.

Buyers are interested in good quality supplies, for immediate processing requirement. Millers were facing difficulty in getting good quality Moong for crushing and polishing due to arrival of pest-damaged supplies.

Major markets of Madhya Pradesh were closed in protest against government to reduce mandi tax.

Haryana Government is going to Start Kharif Moong Crop Procurement in maximum quantity of 5,825 MT At MSP of Rs 7,196/100Kg From October 1, 2020.

The central government will provide processed moong from its buffer stock to state governments either in bulk quantity or in one or half kilo pack for retail sale at a subsidised rate, in the current lean period to check any possible price rise. Moong will be offered at Rs 92 per kg. The Centre has a buffer stock of over two lakh tons of moong under the PSF at present.

Government agencies have commenced liquidating old procured stock. Robust summer crop of Moong was reported this year in Madhya Pradesh and Moong supply will most likely continue till next year. Meanwhile, government agencies are yet to procure new kharif Moong at MSP prices. Farmers continue to be in possession of the stock and eagerly waiting for government to procure. Arrivals and supplies stocked in godowns meanwhile are enough to offset current requirements.

Moong ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Jaipur Kharif 7500-7600 7700-7800 6500-6600 5800-6200
Harda Summer NA NA 4200-7525 5400-5920
Moong Dal ( Prices In Rs / 100Kg )
Market Variety 03-Oct-20 26-Sep-20 19-Sep-20 03-Oct-19
Jaipur 8200-8300 8400-8500 7200-7300 7300-7400
Gulbarga NA 8800-9000 8500-8700 7900
Akola NA NA NA 7300-7800

(By Commodities control Bureau; +91 9820130172)

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