Pigeon pea weak, prices of other pulses stable
Slight improvement in wheat, prices of guar gum and seeds increased
New Delhi. Chana prices became stable in Delhi, although procurement from mills is weak at these prices. According to traders, there may be a slight softening in the current prices of gram because the increased prices are not able to support purchases. However, the daily arrival of gram in the mandis of producing states is not increasing as expected, because the production estimate in the current season is low, hence the future is only bullish. In Delhi, the price of new gram from Rajasthan was quoted at Rs 6,475 to 6,500 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,425 to 6,450 per quintal. The daily arrival of gram was 3 to 4 motors.
Pigeon pea prices have weakened by Rs 50 in Solapur. According to traders, the prices of imported lemon in Chennai had softened in dollar terms on Monday, whereas today the prices have remained stagnant. 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 the increased prices of Arhar dal, the retail as well as wholesale subscription is weaker than normal. However, import prices of Pigeon pea are still expensive, hence importers want to increase the prices. According to experts, the arrival of local pigeon pea in the producer markets has decreased compared to earlier. Therefore, one should keep booking profits in increased prices. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,850 per quintal.
Imported urad prices in dollar terms have weakened for the second day in Chennai. According to traders, the demand for urad dal in wholesale and retail is weaker than normal, hence there is no possibility of a big 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. In Chennai, urad SQ prices stood at $1,135 per tonne and FAQ at $1,050 per tonne.
Moong prices had weakened in the producer markets on Monday, whereas today the prices are stable. Traders are expecting a softening of moong prices because the arrival of summer moong has started in the mandis of Madhya Pradesh and Gujarat and if the weather remains clear, the daily arrival of new moong in the mandis of the producing states will increase compared to earlier. Sowing of moong in summer has increased in the current season, due to which the production estimate is also higher. Therefore, there is no possibility of a big rise in its price right now. Moong prices remained stable at Rs 9,000 per quintal in Dahod mandi.
Prices of local lentils became stable in Delhi. According to traders, the arrival of lentils has remained equal in Madhya Pradesh as well as Uttar Pradesh and 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 consumption states of Bihar, Bengal and Assam will reduce after the end of May. In Delhi, the price of local lentils was Rs 6,350 per quintal.
Along with paddy, there was a slight improvement in the prices of Basmati rice. According to experts, there will be a slight improvement in the current prices because exporters’ demand for Basmati rice is expected to remain and stockists do not seem to be affected by these prices. Due to government procurement of wheat, the arrival of paddy is stopped in the markets. From Rajasthan line, 1,718 varieties of Sela were traded at Rs 7,100 to 7,125 per quintal, Sugandha Sela at Rs 5,050 and 1,509 varieties of Sela rice were traded at Rs 6,400 to 6,425 per quintal. According to sources, Iran’s import demand is expected to increase in the coming days, and payment of outstanding dues to exporters will also start soon.
Wheat prices rose by Rs 5 from Rs 2,445 to Rs 2,475 per quintal at Lawrence Road. The weather is clear in the states of North India, hence the arrival of new wheat will increase, due to which there may be a slight decline in its price. On the other hand, the arrival of new wheat in Uttar Pradesh, Madhya Pradesh and Rajasthan also remains equal.
Maize prices have become 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 Sangli Mandi, the price of maize was traded at the rate of Rs 2,400 to Rs 2,475 per quintal.
There has been a slight improvement in the prices of millet. According to traders, the arrival of millet is decreasing significantly in the markets, hence there will not be much slowdown. In Charkhi Dadri Mandi, millet was traded at the rate of Rs 2,240 to Rs 2,260 per quintal.
Barley prices became stable. According to traders, there has been a decrease in the arrivals of barley in the producer markets. On the other hand, stockists and malt companies are purchasing. Therefore, there may be a slight improvement in the price. The price of barley in Charkhi Dadri Mandi was Rs 1910 per quintal.
Sugar prices have remained stagnant. 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, the initial estimate of sugar is expected to increase and till April 15, 310.93 lakh tonnes of sugar has been produced in the states across the country.
Mustard prices are expected to soften, while palm oil prices in Malaysia have declined, and soya oil prices have also opened weak in Chicago. According to experts, if the weather remains favorable in the producing states, the arrival of mustard will remain constant. In such a situation, there is no possibility of a big rise in the prices of mustard. Along with mustard oil, the prices of flour became stable.
The prices of edible oils have fallen by Rs 5 to 15 in the domestic market. In Malaysia, palm oil prices weakened by 81 rigints to 3,834 rigints per tonne in the July futures contract. Besides, there has been a decline in soy oil in Chicago also. Therefore, there may be a slight softening in their sentiments. Experts believe that there is little chance of a big rise in edible oils in the world market.
Soybean prices have weakened in the producer markets. According to traders, the daily arrival of soybean in the producer markets remains the same, while the plants are purchasing only as per the requirement. There has been a decline in the prices of soybean, soy oil and meal in Chicago.
The arrival of castor seed in the markets of Gujarat was 1,80,000 bags and its price increased by Rs 5 from Rs 1,080 to Rs 1,115 per 20 kg. In Rajkot, commercial oil price remained stable at Rs 1,140 per 10 kg and FSG price at Rs 1,150 per 10 kg.
Cotton prices stabilized in the domestic market. On the other hand, cotton prices opened weak in the electronic trading of ICE today due to which the demand from domestic mills became weak. According to experts, the outstanding stock of cotton with the spinning mills in the domestic market is less, hence the mills will have to purchase cotton. But the rise or fall in its prices will depend only on the price of ICE cotton futures.
The prices of cottonseed and cotton cake remain soft, according to traders, the subscription is weaker than normal and due to decrease in the daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there may be a slight rise or fall in their prices.
There has been a slight improvement in guar seed and guar gum, but traders are not very bullish. 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, one should not do business considering the huge rise in guar gum and seeds. There has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.