Mixed trend in gram, prices of other pulses stable
Wheat prices rise, guar gum and seed prices rise
New Delhi. There was a mixed trend in gram prices in Delhi, where Rajasthani gram prices increased by Rs 25, while Madhya Pradesh gram prices became weak by Rs 25. According to traders, the weather is clear in the producing states, hence the arrival of new crops will increase in Rajasthan and Madhya Pradesh, in view of which the millers are purchasing only as per the requirement. Therefore, now one should not trade in gram assuming a big rise. However, the production estimate of gram in the current season is low, and good quality old gram is less in the markets. In Delhi, the price of gram from Rajasthan stood at Rs 6,000 per quintal, while the price of gram from Madhya Pradesh weakened to Rs 5,925 to Rs 5,950 per quintal. The daily arrival of gram was 7 to 8 motors. The prices of new gram from Rajasthan stabilized at Rs 5,925 to 5,950 per quintal, while the prices of new gram from Madhya Pradesh were quoted at Rs 5,850 to 5,875 per quintal.
Rajasthan Line moth prices remained stable at Rs 6,300 to Rs 6,325 per quintal in Delhi.
Pigeon pea prices remained stable in Solapur, while lemon prices in Chennai weakened in dollar terms last weekend. According to traders, the subscription of Pigeon pea is not increasing in the spot market, due to which there may be a slight improvement in the prices of Pigeon pea due to the activism of stockists, but there is no possibility of a big rise. Anyway, at the increased prices, millers are purchasing only as per requirement. The central government is constantly reviewing the prices of pulses. According to experts, the arrival of local pigeon pea will continue in the producer markets, and the import of lemon pigeon pea will also increase in the coming days. In view of the new crop, millers are also purchasing as per requirement. In Solapur mandi, the price of new desi arhar was quoted at Rs 9,500 to Rs 10,450 per quintal.
Imported urad prices were stable in dollar terms in Chennai, though they had weakened on Saturday. According to traders, the wholesale and retail demand for urad dal is weaker than normal, while the arrival of the new crop in Telangana as well as Andhra Pradesh will increase in the coming days. Due to the strictness of the Central Government, the mills are purchasing urad only as per the requirement. However, due to the consumption season, South India’s demand for urad dal will increase in the coming days. According to experts, the total production estimate of urad in the current season is likely to be less. Therefore, its prices are now expected to remain limited bullish and bearish. In Chennai, the price of urad SQ was quoted at $1,105 and FAQ at $1,015 per tonne.
Moong prices became stable in producer markets. According to traders, the weather is clear, hence the daily arrival of moong in the producer markets has started increasing compared to before. Also, due to the consumption season, the demand for moong dal will still remain, and the production estimate of moong is expected to be less. Therefore, its price is expected to remain limited bullish and bearish. In Chhindwara, the price of moong was quoted at Rs 6,800 to Rs 8,050 per quintal.
Prices of local lentils became stable in Delhi. According to traders, the weather is clear in Madhya Pradesh as well as Uttar Pradesh, hence after Holi, there will be an increase in the arrival of new lentils in the markets of these states. Record production of lentils is estimated in the current Rabi. Therefore, its price is expected to soften further. However, due to less outstanding stock, the arrival of old desi lentils is decreasing in the producer markets, while the demand for lentils from the consuming states of Bihar, Bengal and Assam is expected to remain the same. In Delhi, the price of local lentils was Rs 6,175 to Rs 6,200 per quintal.
Along with paddy, the prices of Basmati rice remain stable. According to traders, demand from exporters for Basmati rice is weaker than normal, while millers are also not selling by reducing the price. Therefore, there may be limited rise and fall in the prices of rice and paddy. 1,401 steam rice from Punjab line to Delhi traded at Rs 8100 to 8200 per quintal, and from Rajasthan line at Rs 8000 to 8100 per quintal.
Wheat prices rose by Rs 115 from Rs 2,725 to Rs 2,750 per quintal at Lawrence Road. According to traders, there is still time for new wheat to arrive in the states of North India. Therefore its prices have increased, however the stock should be lightened due to the increased price.
Maize prices became stable. According to traders, the arrival of old maize in the producer markets has reduced compared to earlier, while the arrival of Rabi maize will start in the mandis of Bihar after the current week. Therefore, its price is expected to remain limited bullish and bearish. The price of maize in Sangli Mandi was Rs 2,375 per quintal.
Millet prices have weakened. However, the arrival of millet in the producer markets is decreasing significantly, hence there is no possibility of much decline in its price. Reaching Rajpura, millet was traded at the rate of Rs 2440 per quintal.
Barley prices remain stable in the producing markets. According to traders, the demand for barley from malt companies will still remain, due to which there is no possibility of a major decline in its price. Outstanding stocks of barley are low, while the new crop will arrive in late March and April.
Sugar prices remain stable. Traders are not too bearish on sugar as of now, demand for sugar is expected to remain as it is the consumption season. Anyway, sugar production is expected to be less in the current crushing season.
Mustard prices have remained almost stable. According to traders, the weather is favorable in the producing states, hence the arrival of new mustard is expected to increase. In such a situation, no big rise in its prices is expected. Along with mustard oil, the prices of flour became stable.
In the domestic market, the prices of palm and palmolein have increased by Rs 3 to 5 respectively, while the prices of other edible oils have remained stable. Malaysian palm oil prices rose by 25 rigints to 4,007 rigints per tonne in the month of June, while the prices of soy oil are also high in Chicago. Therefore, there is a possibility of a slight increase in their prices in the domestic market.
Soybean prices remain stable in producer markets. Therefore, traders are not very bullish on its price in the domestic market. At present the daily arrivals in the producer markets will remain the same, while the plants are purchasing only as per requirement. In Chicago, soybean and meal prices have weakened, while soya bean prices have opened higher.
There has been an improvement in the prices of cotton in the domestic market, today the prices of cotton have opened higher in the electronic trading of ICE, hence the prices have improved in the domestic market also due to increased purchases by mills. In the domestic market, ginners are reducing sales by reducing prices. On the other hand, the purchase of spinning mills is expected to continue, hence its price is expected to improve further. Anyway, there will be a decrease in daily arrivals of cotton in the coming days.
The prices of cottonseed and cotton cake have improved. According to traders, the daily arrivals of cotton in the producer markets have decreased compared to before, and the arrivals will decrease further in the coming days, hence there is no hope of much decline in their prices.
The prices of guar seed and guar gum increased, although a big rise in their prices is not expected yet. According to traders, there is more outstanding stock of guar seeds with the plants. Whereas the export of guar gum products has decreased to only 3.39 lakh tonnes during April to January of the current financial year, whereas in the same period of the last financial year, its export was 3.50 lakh tonnes.