Week Ahead: Pulses prices likely to remain mixed amid watch on rabi sowing trend, kharif harvest

MUMBAI, 28 November (Commoditiescontrol) Pulses prices are likely to remain mixed this week as market is presently watching the trend of rabi sowing and kharif harvest as well. Particularly, tur harvest is under watch as recent rains in south India has affected the crop. On the other side, area under pulses of rabi season has increased.

Tur-Urad prices moved higher past week ended 27th Nov 2021 amid fresh buying at lower rates and also crop loss concern due to rain. Similarly, White Pea ruled firm on fresh buying support. On other hand, Masoor, Chana, Kabuli Chickpea and Moong prices remained weak on thin activity as action in processed pulses remained below expectation.

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Burma Lemon Tur

In imported variety, Tur Lemon variety of Burma-origin (new) gained by Rs 150 at Rs 6,000/100Kg in Mumbai due to fresh participation from millers.

Similarly, Tanzania origin Arusha and Matwara varieties Tur ruled firm each at Rs 5,150-5,200/100Kg and Rs 5,050-5,100, respectively. Mozambique origin gajri variety also offered higher at Rs 5,050-5,100. Malawi Tur also traded higher Rs 4,650-4,700. Sudan Tur also firmed at Rs 6,050-6,100.

In domestic market, Tur moved higher by Rs 125 during the week to close at Rs 6,300-6,325/100Kg in bilty trade at benchmark market Akola.

However, demand and sale counter in Tur dal witnessed slow as Tamil Nadu 60000 MTs Tur Dal purchase tender cancelled due to higher rate. But, re-tender issues to purchase 40000 MT Tur Dal/Masoor Dal/Masoor. Last date for online submission up to 3.12.2021.

Tur prices got support as sellers were inactive at lower rates also harvest of new Tur crop to be delayed due to rainfall and cloudy weather at producing belt and forecast of rain next week will also affect quality.

Moreover, in Karnataka, Tur has been impacted in about 2.91 lakh hectares, due to the excess rains in Kalaburgi and Bidar districts. Also, the excess rains in other States such as Andhra, Maharashtra and Gujarat have impacted the crop.

The crop has been damaged due to water logging in some areas, while the recent rains damaged the sown crop in the flowering stage and the pod-filling stages.

The crop loss likely to be as 20-40% in Andhra Pradesh-Karnataka this year. Harvest is likely to delayed and may begin in some areas from mid-December. Tur crop has been damaged by 10-15% in Maharashtra. Total output likely to be lower by 20%.

In the overseas markets, Tur Lemon-Linkhey varieties priced unchanged at $760 per ton, respectively on a CNF basis in Burma. Meanwhile, no buyers from India were active in purchasing Tur at prevailing rates.

The government extended the free import policy for Tur-Urad till 31 January 2022.

Burma Urad

Prices of Burma Urad FAQ variety moved higher by Rs 125 at Rs 6,950-7,000/100Kg in Mumbai amid mills buying support on immediate requirement for crushing due to crop loss concern in Andhra Pradesh because of rain and also forecast of rain in December.

However, buying at higher rates was limited due to liquidity crunch and slow offtake in processed Urad.

Similarly, Burma Urad FAQ-SQ varieties in Chennai also rise each by Rs 150-300 at Rs 6,975/100Kg and Rs 7,700, respectively.

In the overseas markets, Urad FAQ-SQ varieties priced higher each at $915 per ton and $1025 per ton on a CNF basis in Burma amid fresh India buying.

Around 100 containers of Urad FAQ traded for India. Urad FAQ variety 2021 crop been traded for India at $790-$800 per metric ton on FOB basis.

With strengthening of kyat, Myanmar currency, prices of pulses in the southeast Asian country will rise in dollar term in coming days.

Already, direct container vessels carrying urad regularly depart from Yangon for Chennai.

Chana Kantewala Indore

Chana prices eased by Rs 25 at Rs 5,050-5,075/100Kg for the week at Indore due to thin mill buying activity.

Nafed is actively liquidating its stocks of Chana at various centres and rise in Chana acreage has pressurised the sentiments.

Stockists and farmers holding Chana stock were active to liquidate stock due to cash crunch.

India 2021-22 Rabi Chana acreage was up 7.36 %, as on Nov 26, at 70.01 Lakh Ha Vs 65.21 Last Year.

Also, demand in Chana dal and besan reported below expectation despite wedding season has already begun.

Similarly for international origins, Tanzania Chana, both old-new traded weak each by Rs 50-75 at Rs 4,675-4,775/100Kg, respectively.

Sudan and Russia Kabuli Chickpea priced lower each by Rs 50-100 at Rs 5,050-5,200/100Kg and Rs 4,650-4,750 on slack mills buying, following weak trend in Chana and supplies of new crop from Sudan. However, Import of Russian origin was not viable due to high import duty of 40%.

Indore Kabuli Chana 42-44 & 44-46 counted extended fall Rs 250 at Rs 9,050/100Kg and Rs 8,900, respectively on slack trade. Similarly, dollar variety Chana also priced lower by Rs 400 at Rs 8,400-8,900.

Imported Masoor (Mumbai)

Canada crimson variety Masoor along with Australia Masoor at Mumbai widened losses by Rs 50 each at Rs 7,175-7,200/100Kg and Rs 6,900-7,300, respectively as millers refrained to purchase due to slow offtake in processed Masoor and overseas supplies.

Tracking Mumbai market Canada crimson variety Masoor at Mundra-Hajira port also ruled lower by Rs 50 each at Rs 7,050/100kg and Rs 7,100, respectively.

Meanwhile, Nafed is active in buying imported Masoor from private importers. But, cautious trade was reported on fear of government agency may sell procured imported stock at lower rates in future.

Also Nafed is actively liquidating its stocks of Masoor at Madhya Pradesh.

International Masoor markets had a generally easier tone, though US market maintained firm tone because of a fundamental shortage of product.

Markets in Canada were not helped by the effective closure of the Port of Vancouver. Heavy rains in the mountains east of the port caused landslides which blocked highways and rail access.

Moreover, high ocean freights and container availability problems continue to disrupt export movement to and from many countries.

Moong (Jaipur)

New Moong prices dropped for second straight week by Rs 100 at Rs 6,000-6,900/100Kg at Jaipur market of Rajasthan, as per quality, due to thin millers buying activity as offtake in processed Moong was reported dull.

Rajasthan origin new Moong traded firm by Rs 150 at Rs 4,500-6,700/100Kg, as per quality, at Naya bazaar pulses market of Delhi.

White Pea (Kanpur)

White Pea prices gained by Rs 100-150 each at Rs 5,850/100Kg (40% dal quality) and Rs 6,100 (60% filter quality) at Kanpur market on fresh buying support from local and outstation markets and shortage.

On other hand, Vatana besan and dal remained stable each at Rs 4,800/50Kg and Rs 6,900, respectively.

Canada pea markets were little changed during the past week, but Canada's export performance has been compromised by the effective closure of the Port of Vancouver.

All rail service coming to and from the Port of Vancouver is halted because of flooding in the B.C. interior. Both CN and CP Rail indicate that no rail traffic is currently able to transit between Kamloops and Vancouver.

(By Commodities control Bureau; +91 9820130172)