Week Ahead: Selected pulses prices may remain firm on increased demand

MUMBAI, 24 January (Commoditiescontrol) Pulses prices stayed mixed last week as bad weather conditions and covid-19 induced restrictions affected business actitivites. However, weather conditions are now improving and fear of new variant of corona is also easing. Therefore, buying trend in the wholesale marekt and retail counters are expected to improve which will support prices of major pulses like tur and urad but chana prices are unlikely to see any big upside as good production is expected after a significant rise in area under current rabi season.

Hence, mixed trend in the prices of pulses may continue for this truncated week as Indian market will remain shut on January 26 for Republic Day celebrations.

Tur-Moong and White Pea prices traded higher last week ended 22nd Jan 2022 amid mills buying activities. While, Urad prices remained weak on thin buying and regular overseas supplies. On other hand, Masoor and Chana-Kabuli Chickpea ruled almost flat due to limited volume.

Past Week’s highlights

# India Rabi Pulse Sowing up 0.9 % as on Jan 21 to 164.35 lakh Ha vs 162.88 last year at the same period.
# India's total acreage of Rabi crops up 1.10% y/y at 679.34 lakh hectare so far.
# Statewise Rabi Pulses Sowing Till Jan 19, 2022.
# Canada's 2022-23 Dry Peas Production Estimated to Rise by 68% y/y to 3.8 million tonnes.
# New technological revolution is empowering India’s agricultural sector : Ashok Dalwai
# Budget 2022 : Govt may incentivize value addition of agricultural produce.
# India Pulses import quantity (MT) during April 2021-December 2021.

Burma Lemon Tur

Tur Lemon variety of Burma-origin moved higher by Rs 100-125 at Rs 6,150-6,175/100Kg in Mumbai amid mills participation despite ongoing domestic arrivals. However, domestic arrivals contain moisture & average quality. Buyers were active in purchasing good quality new Tur in domestic markets.

Moreover, demand in Tur dal was witnessed at prevailing rates from last couple of days.

Forecast of rain and recent rainfall in the major producing areas during harvesting period has damage-delay & shrink new Tur crop. As per the analysts, crop loss would be around 20-30 percent due to rain and this may support its prices.

Vessel M V RISING from Mozambique had discharged 5600 MT till 21st Jan at Mumbai port. Vessel carrying 13,281 MT Mozambique Tur, 601.200 Malawi Tur, 513.625 Mozambique Moong, 3159.206 Mozambique Cowpea.

However, stockiest were cautious and uncertain for long term stocking purpose due to government policies.

Similarly imported variety of other origins, Tanzania origin Arusha and Matwara variety Tur rise at Rs 5,400-5,450/100Kg and Rs 5,250-5,350, respectively. Mozambique origin gajri variety remained higher at Rs 5,300-5,350. Sudan Tur also gained at Rs 6,400-6,450. Malawi Tur also ruled higher at Rs 4,800-4,900.

In domestic market, new Tur gained by Rs 200 during the week to close at Rs 6,800-6,850/100Kg in bilty trade at benchmark market Akola.

In the overseas markets, Tur Lemon-Linkhey varieties traded firm each at $825 per ton, respectively on a CNF basis in Burma amid India buying activity.

India buyers has purchased some quantity of Tur Lemon new crop 2022 cargo at $700 per metric ton on FOB basis shipment against January end for Chennai.

Burma Urad

Prices of Burma Urad FAQ variety extended fall by Rs 50 at Rs 6,500/100Kg in Mumbai on slack mills buying due to liquidity crunch as there is slow off-take in Urad dal-gota variety, regular imports from overseas due to extension of restriction free imports till June 2022. Moroever, good crop estimates for Burma.

Similarly, Burma Urad SQ variety in Chennai eased by Rs 25 at Rs 6,225/100Kg and Rs 6,700, respectively. On other hand, FAQ variety ruled flat at Rs 6,225.

India 2021-22 Rabi Urad acreage was down 7.44 %, as on Jan 19, at 7.22 Lakh Ha Vs 7.8 Last Year.

Meanwhile, average quality regular arrivals of Urad witnessed at Uttar Pradesh and Madhya Pradesh. Arrivals of new Urad likely to began in districts of Andhra Pradesh and also from Tamil Nadu in near future.

In the overseas markets, Urad FAQ-SQ varieties priced at $810 and $895 per ton on a CNF basis in Burma. Meanwhile, India buyers inactive in Urad at prevailing rates. India buyers has already purchase some quantities of Urad against January end shipment for Chennai.

Meanwhile, India buyers inactive at prevailing rates. Buyers from India were interested to purchase Tur-Urad at lower rates. India buyers has already purchase some quantities of Tur-Urad against January end shipment for Chennai.

Chana Kantewala Indore

Chana prices remained unchanged at Rs 5,050/100Kg for the week at Indore due to limited mills purchase.

India 2021-22 Rabi Chana acreage was up 3.9 %, as on Jan 21, at 113.3 Lakh Ha Vs 109.05 Last Year.

Meanwhile, action in Chana dal and besan was reported thin.

However, availability of good quality old Chana was less in market. Also, Nafed liquidate procured old Chana was also average quality.

Forecast of rain was reported at Chana producing centers, such as Madhya Pradesh, Rajasthan, Gujarat and Maharashtra.

Arrivals of new Chana witnessed at few markets of Maharashtra, Gujarat and Madhya Pradesh.

Harvesting of new Chana likely to begin in near future at southern markets and Maharashtra. New chana crop expected to be good in Gujarat-Karnataka & Maharashtra (Vidarbha).

Government agencies liquidating procured stocks and lockdown fear due to spread of Omicron will keep prices under pressure.

Stockists and farmers holding Chana stock were active to liquidate procured stock at every rise as quality was affected and also due to cash crunch.

On other hand for international origins, Tanzania Chana, declined by Rs 50 at Rs 4,600/100Kg, respectively amid thin buying, overseas supplies, new domestic arrivals witnessed in Maharashtra.

Russia and Sudan Kabuli Chickpea priced almost unchanged each at Rs 4,650-4,700/100Kg and Rs 5,050-5,300 on mills purchase despite supplies from Sudan. However, import of Russian origin was not viable due to high import duty of 40%.

Indore Kabuli Chana 42-44 & 44-46 count dropped each by Rs 200 at Rs 8,600/100Kg and Rs 8,500, respectively. Dollar variety Chana also traded weak by Rs 200 in the range as per quality at Rs 8,000-8,500.

Imported Masoor (Mumbai)

Canada crimson variety Masoor and Australia Masoor at Mumbai were steady each at Rs 7,150-7,200/100Kg and Rs 6,950-7,300, amid limited mills purchase as offtake in processed Masoor is thin, Nafed active for sale of imported and domestic Masoor at various centers

Tracking Mumbai market Canada crimson variety Masoor at Mundra-Hajira port also ruled unchanged each at Rs 7,075/100kg and Rs 7,100, respectively.

Meanwhile, stock of imported Masoor were higher compare to domestic Masoor stock. Prices of imported Masoor were higher at international market and disparity in import. Importers were less interested to sell stock at lower rates.

Ranfall-hail and forecast of rain was reported in major Masoor producing belt likely to support prices.

Moong (Jaipur)

New Moong prices firmed by Rs 50 at Rs 6,100-6,850/100Kg at Jaipur market of Rajasthan, as per quality, due to millers buying activity on immediate requirement for crushing despite ongoing domestic arrivals in Rajasthan - Madhya Pradesh and overseas supplies.

Nafed also active to liquidate procured stock in Madhya Pradesh, Tamil Nadu and Rajasthan.

On other hand, Rajasthan origin new Moong traded at Rs 4,500-6,750/100Kg, as per quality, at Naya bazaar pulses market of Delhi.

India 2021-22 Rabi Moong acreage was down 20.85 %, as on Jan 19, at 4.67 Lakh Ha Vs 5.9 Last Year.

India government had given extension of restriction-free imports of Moong till June 2022.

White Pea (Kanpur)

White Pea prices ruled higher each at Rs 6,300/100Kg (40% dal quality) and Rs 6,600 (60% filter quality) at Kanpur market on good 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's 2022-23 dry peas production is estimated to rise by 68 percent from 2.26 million tonnes (Mt) in 2021-22 to 3.38 million tonnes, according to AAFC’s latest outlook report, published on January 21.

(By Commodities control Bureau; +91 9820130172)