Lentils rise, prices of other pulses stable
Wheat prices stable, guar gum and seed subscription weak
New Delhi. The Central Government has extended the period of duty free import of yellow peas from 30.06.2024 to 31.10.2024.
The Central Government has reduced the duty on import of indigenous gram to zero. This may create pressure on prices.
There may be pressure on prices due to the government reducing the import duty on gram to zero. However, gram prices became stable in Delhi. Its prices had weakened on Friday. Stockists remain active in gram, hence while selling at lower prices reduces, mills are purchasing pulses at increased prices only as per requirement. Therefore, there will be limited bullishness and bearishness in the prices. Anyway, the daily arrival of gram in the mandis of the producing states is not increasing as expected, because the production estimate in the current season is low, hence the future is going to be bullish. In Delhi, the price of new gram from Rajasthan was quoted at Rs 6,350 to Rs 6,375 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,325 to Rs 6,350 per quintal. The daily arrival of gram was 6 to 7 motors.
Pigeon pea prices remained stable in Solapur. Lemon pigeon pea prices in Chennai had increased in dollar terms on Friday. Hence, pigeon pea imports are still expensive, hence importers want to increase the prices. According to traders, the import of lemon from Myanmar is leveling off, along with the shipment of new pigeon pea is also coming from Sudan. Due to the increased prices of arhar dal, the retail as well as wholesale subscription is weaker than normal. Therefore, one should keep booking profits in increased prices. However, the Central Government is conscious about the high prices of pulses in the domestic market and is reviewing the prices every week. In such a situation, pulse millers are purchasing only as per requirement. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,850 per quintal.
Prices of imported urad in dollar terms are still stable in Chennai today, whereas its price had improved on Friday. According to traders, imports of urad are expensive, hence importers want to increase the prices, but the demand for urad dal in wholesale and retail is weaker than normal, hence there is no possibility of a big one-sided increase in the prices of urad. Anyway, the arrival of summer urad in the producer markets will increase in the current month. Due to the strictness of the Central Government, the pulse mills are purchasing urad only as per the requirement. Import of urad from Myanmar will increase in the coming days, and the production estimate in Myanmar is higher. 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 FAQs remained steady at $1,050 per tonne and SQ at $1,145 per tonne, C&F.
Moong prices have weakened in the producer markets. According to experts, the demand for moong dal is weak, hence its prices are expected to fall further, because the arrival of summer moong has started in the mandis of Madhya Pradesh and Gujarat and if the weather is favourable, new moong will be available in the mandis of the producing states. Daily arrivals will increase compared to before. 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. The price of new moong in Dahod mandi decreased to Rs 8,000 to Rs 8,600 per quintal.
The price of local lentils increased by Rs 25 in Delhi. According to traders, the demand for lentils is weak, while the arrival of lentils remains equal in Madhya Pradesh as well as Uttar Pradesh. Anyway, record production of lentils is expected in the current Rabi. The central government is also reviewing the prices of pulses every week. Therefore, there is no possibility of a big rise in its price. The old stock of lentils in the central pool is also good. 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 desi lentils was Rs 6,250 to Rs 6,275 per quintal.
Along with paddy, the prices of Basmati rice became stable. According to experts, demand from exporters for Basmati rice is expected to remain and stockists do not seem to be affected by these prices. Therefore, there is no possibility of much recession. Due to government procurement of wheat, the arrival of paddy is stopped in the markets.
Wheat prices stabilized at Rs 2,470-2,500 per quintal at Lawrence Road. The arrival of wheat in the states of North India has started decreasing compared to before, because the government is purchasing along with stockists and millers.
Government procurement of wheat has been 211.33 lakh tonnes, in which the maximum contribution is from Punjab at 97.81 lakh tonnes and from Haryana at 62.77 lakh tonnes.
Maize prices remain stable. According to traders, the arrival of Rabi maize has been continuously increasing in the mandis, hence its price is expected to soften in future. In Gulabbagh Mandi of Bihar, the price of maize was Rs 2,050 to Rs 2,070 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. Poultry millet reaching Punjab was traded at the rate of Rs 2,200 to 2,220 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. Barley prices are ranging from Rs 1600 to Rs 1915 per quintal in Rajasthani markets.
Sugar prices have remained stagnant. Traders are not too bearish on sugar right 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 remain stable. Palm oil prices in Malaysia softened over the weekend, as did soy oil prices 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 subscription for khal is also weak.
The price of edible oils in the domestic market has declined by Rs 3 to 5. Palm oil prices in Malaysia have weakened in the current week. Also, there was a decline in soy oil in Chicago over the weekend. Therefore, there is no possibility of increase in their prices. Experts believe that there is no expectation of a one-sided rise in edible oils in the world market.
Soybean prices became stable in producer markets. According to traders, the daily arrival of soybean in the producer markets has remained the same, while the plants are purchasing only as per the requirement.
The daily arrival of castor seed in Gujarat was 1,60,000 bags and its price weakened by Rs 5 to Rs 1,080 to Rs 1,105 per 20 kg. In Rajkot, castor oil commercial prices remained stable at Rs 1,135 and FSG at Rs 1,145 per 10 kg.
Cotton prices have increased in the domestic market. Cotton prices had increased by three points in the foreign market on Friday. Hence the demand from domestic mills has also increased at lower prices. 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 have become stable, according to traders, the subscription is weaker than normal and due to the decrease in 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.
Prices of guar seed and guar gum softened in the current week due to weak demand. 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.