Prices of gram and local lentils rise, prices of other pulses stable
Wheat prices stable, decline in guar gum and seeds continues
New Delhi. In Delhi, gram prices were quoted higher by Rs 75 on the second day, although no trade took place at these prices. Mills are purchasing pulses and gram only as per requirement, however, sales are decreasing due to reduction in prices. Therefore, its price is expected to remain limited bullish and bearish for now. 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 6,525 to Rs 6,550 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,500 to Rs 6,525 per quintal. The daily arrival of gram was 9 to 10 motors.
Solapur Mandi is closed today due to voting for Lok Sabha elections. Lemon pigeon pea prices in Chennai remain stable in dollar terms today. According to traders, the import of pigeon pea is expensive, hence the importers want to increase the prices, however, the huge increase will not be sustainable. On the other hand, the import of lemon from Myanmar is increasing, 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. Lemon pigeon pea prices opened stable at $1,360 per tonne in Chennai.
Imported urad prices remained stable in dollar terms in Chennai today. 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 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. 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 FAQs remained steady at $1,055 per tonne and SQ at $1,140 per tonne, C&F.
The prices of moong had increased in the producer markets at the end of last week, however, 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 remains favourable, the daily arrival of new moong in the markets of the producing states 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. Moong prices stabilized at Rs 6,800 to Rs 8,050 per quintal in Chhindwara mandi.
The price of desi lentils increased by Rs 25 in Delhi, although traders are not in favor of a big rise in lentils. The demand for lentils is weak, while the arrival of lentils remains the same 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 local lentils was Rs 6,300 to Rs 6,325 per quintal.
Along with paddy, the prices of Basmati rice remain stable. According to experts, the demand from exporters for Basmati rice is weaker than normal, hence the price is not rising. However, traders are not likely to be too bearish right now. Due to government procurement of wheat, the arrival of paddy is stopped in the markets. PR 14 steam rice from Haryana line was traded at Rs 4100 per quintal, 1,718 Sela rice from Rajasthan line was traded at Rs 7300 and 1,509 Sela rice was traded at Rs 6450 per quintal.
Wheat prices remained stable at Rs 2,445 to Rs 2,465 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, although private procurement has reduced as compared to before.
In the current Rabi marketing season 2024-25, more than 232.56 lakh tonnes of wheat has been procured from major producing states at the Minimum Support Price, MSP.
Maize prices have increased, although traders are not very bullish because 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 bilti remained at Rs 2,400 to Rs 2,460 per quintal.
Millet prices stabilised. According to traders, the arrival of millet is decreasing significantly in the markets, hence there will not be much slowdown. Reaching Rajpura, millet was traded at the rate of 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 Rajasthani markets is ranging from Rs 1600 to Rs 1915 per quintal.
Sugar prices have improved. Traders are not too bearish on sugar as of now, as it is the summer season, the demand for sugar is expected to remain. By the end of April, 315.90 lakh tonnes of sugar has been produced in states across the country and the total production is estimated to be 320 lakh tonnes.
Mustard prices are expected to improve. There has been a rise in palm oil prices in Malaysia, as well as the prices of soy oil have opened higher 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 may be a slight improvement in the prices of mustard. Mustard oil prices weakened by Rs 10 while the demand for oil was normal.
The price of edible oils has increased by Rs 3 to Rs 15 in the domestic market. In Malaysia, palm oil prices rose by 60 rigints to 3,922 rigints per tonne in the July futures contract. On the other hand, soy oil has also increased in Chicago. Therefore, there may be a slight improvement in their prices, on the other hand, there is a possibility of damage to the soybean crop in Brazil.
The prices of soybean have increased 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. In such a situation, a slight uptrend may occur. In Chicago, soybean and meal prices have weakened, while soy oil has increased.
Due to Lok Sabha elections in Gujarat, most of the mandis are closed, hence there was no arrival of castor seed. According to experts, the production estimate for the current season is high and arrivals will increase after the elections, hence the current prices are expected to remain subdued.
Cotton prices have softened in the domestic market. On the other hand, there was a decline in the prices in the foreign market on Monday, but today the prices have increased in electronic trading. 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.
There has been improvement in the prices of cottonseed and cotton cake, 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.
The prices of guar seed and guar gum have declined even today. 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.