Gram and Pigeon pea fast, prices of other pulses almost stable
Wheat prices halted, guar gum and seed prices continue to rise
New Delhi. The prices of gram in Delhi have increased for the second consecutive day. The prices have increased due to continued purchases by stockists, however, it is the season in the producing states, hence the arrivals of gram in the mandis will increase in the coming days. Pulse mills are purchasing gram only as per requirement. In such a situation, prices may soften due to increase in arrivals. However, the production estimate of gram in the current season is low.
In Delhi, new gram prices from Rajasthan rose by Rs 50 to Rs 5,875 to Rs 5,900 per quintal, while new gram prices from Madhya Pradesh increased by Rs 25 to Rs 5,825 to Rs 5,850 per quintal. The daily arrival of gram was 3 to 4 motors.
In Jaipur market, the price of moth bilti increased to Rs 6,500 per quintal.
Pigeon pea prices in Solapur increased by Rs 200, however, the prices of lemon pigeon pea arriving in Chennai from Burma remained stable in dollar terms. According to traders, recently its prices had increased in Burma, due to which imports have become expensive, and currently imported pigeon pea is in disparity, hence stockists want to increase the prices. However, one should keep booking profits at increased prices. In the coming days, the arrival of lemon from Myanmar will increase, along with the shipment of new pigeon pea will come from Sudan. In the domestic market, pulse mills are purchasing only as per requirement because the demand for arhar dal is weaker than normal. On the other hand, the central government is continuously reviewing the prices of pulses. According to experts, the arrival of local pigeon pea will continue in the producer markets. In Solapur market, the price of desi arhar was quoted at Rs 9,500 to Rs 11,000 per quintal.
Prices of urad imported from Burma remained stable in dollar terms in Chennai. According to experts, the demand for urad dal in wholesale and retail is weaker than normal, while the arrival of urad continues in Telangana as well as Andhra Pradesh. Due to the strictness of the Central Government, the mills are purchasing urad only as per the requirement. Anyway, the import of urad from Myanmar will increase in the coming days, anyway the production estimate in Myanmar is high. In such a situation, due to the activity of stockists in the domestic market, there may be a slight rise in the prices of urad but there is no possibility of a big rise. However, imports are expensive. The price of urad SQ from Burma to Chennai was quoted at $1,145 per tonne and FAQ at $1,055 per tonne, C&F.
Moong prices still remained stable in the producer markets. Traders are not in favor of a big rise in the prices of moong right now. The weather is clear, hence the daily arrival of moong in the markets of the producing states 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. Moong prices remained stable at Rs 6,800 to Rs 8,000 per quintal in Chhindwara mandi.
Prices of desi lentils have become stable in Delhi, recently there has been a rise in the prices of desi lentils, but the stock should be lightened in these prices because if the weather remains favorable in Madhya Pradesh as well as Uttar Pradesh, the arrivals of new lentils will increase. Record production of lentils is estimated in the current Rabi. 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. Therefore, there is no possibility of a big rise in its price. In Delhi, the price of local lentils was Rs 6,400 per quintal.
Along with paddy, the prices of Basmati rice became stable. According to traders, mills have stock of high priced paddy, while export demand for rice is expected to remain. Therefore, further improvement in prices is expected. In Sirsa mandi, the price of 1,401 variety of paddy was Rs 3800 to 4331 and price of PB 1 variety of paddy was Rs 3500 to 3,923 and in Fatehabad mandi, the price of 1,121 variety of paddy was Rs 4,355, 1,401 was Rs 4,440 and 1,718 variety of paddy was Rs 4,345. It was quoted at Rs per quintal.
Wheat prices remained stable at Rs 2,500-2,525 per quintal at Lawrence Road. If the weather remains favourable, the arrival of new wheat in the states of North India will increase in the coming days, hence its price is expected to soften in the future. There has been an increase in arrivals of new wheat in Madhya Pradesh and Rajasthan.
The price of maize has softened. According to traders, the arrival of maize has been continuously increasing in the markets of Bihar, hence its price is expected to soften further. In Sangli mandi, starch maize prices remained stable at Rs 2,370 per quintal.
Millet prices have softened. Although traders are not in favor of a big decline, anyway the arrivals in the mandis have remained very less. Reaching Punjab, millet was traded at the rate of Rs 2,370 per quintal.
Barley prices became stable. The arrival of new crop of barley has increased in the producer markets, and the arrival will increase further in the coming days, hence its price is expected to decrease further. Barley prices in producer markets are ranging from Rs 1500 to Rs 1,850 per quintal depending on the quality.
Sugar prices remain stable. Traders are not too bearish on sugar right now, as it is the summer season, the demand for sugar is expected to remain. ISMA has demanded from the Central Government to allow export of 10 lakh tonnes of sugar, as the production estimates of sugar have increased.
Castor seed prices in Gujarat rose by Rs 15 to Rs 1,160-1,190 per 20 kg after falling for two consecutive days, with daily arrivals at 1,10,000 bags.
The price of mustard is expected to improve. There has been a rise in palm oil in Malaysia, as well as soy oil in Chicago is also rising for the second day. If the weather remains favorable in the producing states, the arrival of new mustard will continue. In such a situation, there may be a slight improvement in its prices. The prices of mustard oil and mortar became stable.
In the domestic market, the prices of edible oils have increased by Rs 5 to 15 for the fourth consecutive day. On the other hand, in Malaysia, the price of June palm oil futures contract rose by 19 rigints to 4,426 rigints per tonne, while in Chicago, the price of soy oil opened higher. According to experts, there may be a slight rise in the prices of edible oils in the world market, but there is little hope of a big rise, hence there may be a slight improvement in their prices in the domestic market, but the chances of a big rise are less.
The prices of soybean have increased in the producer markets. According to traders, there is not much hope of increase in its price in the domestic market because the daily arrivals in the producer markets will remain the same, while the plants are purchasing only as per the requirement. The prices of soybean and soy oil have increased in Chicago, while the prices of meal have opened weak.
Cotton prices in the domestic market have fallen for the second day, cotton futures in the foreign market had fallen by three points for the second consecutive day on Wednesday, due to which the demand from domestic mills has weakened. According to traders, the demand for cotton from spinning mills is expected to remain as the outstanding stock of cotton with the mills is less. Therefore, prices are expected to increase again in future.
The prices of cottonseed and cotton cake have improved even today. According to traders, selling at lower prices has reduced, hence a slight correction may be possible. Anyway, 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 the slight increase in their prices may become even more mild.
The prices of guar seed and guar gum are continuing to rise, according to experts, stockists are increasing the prices, hence a slight increase may occur, but profit should be kept on booking the increased prices, because there will be no one-sided increase in its prices. Anyway, export demand for guar gum products is weaker than normal. However, the daily arrivals of guar seeds have decreased compared to earlier.