Pigeon pea weak for the second day, prices of other pulses stable
Wheat prices stable, guar gum and seeds soft
New Delhi. Gram prices became stable in Delhi. According to traders, there is a limited rise in the prices of gram and recession is expected to continue, because the pressure of arrivals of gram is not being created in the producer markets. Anyway, the production estimate in the current season is low, and the government will purchase gram at the market price for the buffer stock in the central pool. If the weather remains favorable in the producing states, the arrival of gram will continue, and in view of the arrivals, pulse mills are purchasing gram only as per the requirement. In such a situation, buy gram only when the price comes down. In Delhi, the price of new gram from Rajasthan was quoted at Rs 6,300 to Rs 6,325 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,250 per quintal. The daily arrival of gram was 10 to 12 motors.
Pigeon pea prices opened Rs 100 weaker in Solapur for the second consecutive day. According to traders, the prices of Lemon Pigeon pea which reached Chennai from Burma became stable in dollar terms. The prices have fallen due to profit booking by stockists. The central government is strict regarding the high prices of pulses in the domestic market. In such a situation, pulse millers are purchasing only as per requirement. In the coming days, the arrival of lemon from Myanmar will increase, along with the shipment of new pigeon pea will come from Sudan. Due to increased prices of Arhar dal, retail as well as wholesale subscription is weaker than normal. According to experts, the arrival of local pigeon pea in the producer markets has decreased compared to earlier. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,750 per quintal.
There was a decline in the prices of imported urad on Friday, whereas today its prices became stable. According to traders, the demand for urad dal in wholesale and retail is weaker than normal, hence there is no possibility of a big one-sided rise in the prices of urad dal. Anyway, the arrival of urad is still continuing in Telangana as well as Andhra Pradesh and due to the strictness of the Central Government, the pulse mills are purchasing urad only as per the requirement. Anyway, the import of urad from Myanmar will increase in the coming days, and 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 still expensive. The price of desi urad in Dahod mandi was Rs 6,000 to Rs 7,000 per quintal.
Moong prices have remained stable in the producer markets. Traders are not in favor of a big rise in the prices of moong right now. The arrival of summer moong has started in the mandis of Madhya Pradesh and if the weather remains clear, the daily arrival of new moong in the mandis of producing states will increase as compared to before. Due to consumption season, the demand for moong dal will still remain, and the production estimate of moong is likely to be low. Therefore, its price is expected to remain limited bullish and bearish. The price of new moong in Dahod was Rs 9,000 per quintal.
Prices of local lentils became stable in Delhi. According to traders, if the weather remains favorable in Madhya Pradesh as well as Uttar Pradesh, the arrival of new lentils will increase further. Record production of lentils is expected in the current Rabi. The central government is also reviewing the prices of pulses every week. Therefore, its price is expected to soften further. According to experts, the demand for lentils in the consuming states of Bihar, Bengal and Assam is expected to remain the same. In Delhi, the price of local lentils was Rs 6,300 per quintal.
Along with paddy, the prices of Basmati rice have stabilised. According to traders, the demand from exporters for Basmati rice is weak, although the prices have already come down significantly, hence the prices are expected to remain stable. The arrival of paddy in the markets of Haryana has almost stopped. From Haryana, 1,509 sela of rice was traded at the rate of Rs 6550 to 6600 per quintal.
Wheat prices stabilized at Rs 2400 per quintal at Lawrence Road. The weather has cleared in the states of North India, hence the arrival of new wheat will increase. Therefore, its price is expected to soften further. There has been an increase in arrivals of new wheat in Madhya Pradesh and Rajasthan.
In the current Rabi season, the purchase of wheat at the Minimum Support Price (MSP) has been only 60.58 lakh tonnes, whereas by this time last year it had been 95.36 lakh tonnes.
Maize prices became stable. According to traders, the arrival of Rabi maize has been continuously increasing in the mandis, hence its price is expected to soften further. In Nagpur, the price of feed quality maize was Rs 2,310 per quintal.
Millet prices stabilised. Although traders are not in favor of a big decline, anyway the arrivals in the mandis are decreasing significantly. Reaching Punjab, millet was traded at the rate of Rs 2,325 to 2,350 per quintal.
Barley prices remain stable. According to traders, the arrival of barley in the producer markets has remained the same and the purchases from the stockists have also remained the same. The price of barley in the mandis is ranging from Rs 1600 to Rs 1750 per quintal.
Sugar prices became stable. Traders are not too bearish on sugar as of now, as it is the summer season, the demand for sugar is expected to remain. However, initial estimates for sugar are expected to increase. Till April 15, 310.93 lakh tonnes of sugar has been produced in the country.
Castor seed prices became stable in Gujarat. The price of castor seed was quoted at Rs 1,110 to Rs 1,130 per 20 kg, and the daily arrival was 1,40,000 bags. In Rajkot, castor oil commercial prices rose by Rs 3 to Rs 1,168 and FSG prices rose by Rs 3 to Rs 1,178 per 10 kg.
Mustard prices became stable. There was a decline in palm oil in Malaysia at the end of the current week, along with this, soy oil also declined in Chicago. According to experts, if the weather remains favorable in the producing states, the arrival of new mustard will remain the same. In such a situation, there is no possibility of a big rise in its prices right now. The price of mustard oil weakened by Rs 5, while the subscription for oil is also weak.
9.50 lakh tonnes of mustard has been purchased from Haryana at support price.
There has been a decline of 10 to 12 rupees in edible oils in the domestic market. On the other hand, palm oil prices in Malaysia had weakened at the end of the current week, along with a decline in soy oil in Chicago. According to experts, there is little chance of a big rise in edible oils in the world market. Therefore, their prices are expected to remain limited bullish and bearish in the domestic market.
Soybean prices have weakened in the producer markets. According to traders, the daily arrivals in the producer markets will remain the same, while the plants are purchasing only as per the requirement.
Cotton prices stabilized in the domestic market. Its prices had closed higher in the world market on Friday. According to experts, MNC companies are selling cotton in the domestic market, and due to recent weak prices in the world market, exports do not seem to be happening. In such a situation, the rise or fall in its prices will depend on the prices in the foreign market.
There has been a slight softening in the prices of cottonseed and cotton cake, according to traders, the subscription is weaker than normal, while the daily arrivals of cotton in the producer markets have decreased compared to before, and the arrivals will further decrease in the coming days, hence their There may be a slight rise in prices, recession may persist.
The prices of guar seed and guar gum have weakened at the end of the current week. According to traders, export demand for guar gum products is weaker than normal and the outstanding stock with the plants is high. Monsoon rains are expected to be normal in the current season. In such a situation, stockists are increasing the prices, but the increase is not sustainable. However, there has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.