Lentils rise, prices of gram and other pulses remain stable
Wheat prices weak, guar gum and seeds stuck
New Delhi. Gram prices in Delhi remained stable for the second day. In gram, where pulses mills are purchasing only as per requirement, the sales are also weak. Therefore, its price is expected to remain limited bullish and bearish for now. According to traders, 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 6,425 to 6,450 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,400 to 6,425 per quintal. The daily arrival of gram was 5 to 6 motors.
Pigeon pea prices have remained stable in Solapur. On the other hand, the prices of Lemon Pigeon pea in Chennai in dollar terms have also remained stable for the last two days. 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. Pigeon pea prices in Solapur remain stable at Rs 10,700 to Rs 11,850 per quintal.
Imported urad prices remained stable in dollar terms 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 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 $1,050 per tonne and SQ at $1,135 per tonne, C&F.
Moong prices became stable in producer markets, whereas on Wednesday the prices had weakened in many markets including Jaipur. According to traders, 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. Moong prices stabilized at Rs 6,800 to Rs 8,050 per quintal in Chhindwara mandi.
The price of local lentils increased by Rs 25 in Delhi, whereas the price had softened on Wednesday. Traders are not in favor of big bullishness 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 desi lentils was quoted at Rs 6,325 to Rs 6,350 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 yet. 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.
Wheat prices weakened by Rs 15 to Rs 2,435 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 239.03 lakh tonnes of wheat has been procured from major producing states at the Minimum Support Price, MSP. The daily arrival of wheat in the producer markets has decreased compared to before, hence there is a possibility that the procurement will be less than the fixed target.
Maize prices became stable, according to traders, the arrival of Rabi maize is continuous in the markets, hence its price is expected to soften. In Sangli, starch maize prices remained stable at Rs 2,330 per quintal.
The prices of millet have improved. According to traders, the arrival of millet is decreasing significantly in the markets, hence there will not be much slowdown. Reaching Punjab, millet was traded at the rate of Rs 2,290 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 the markets of Rajasthan.
Sugar prices stabilised. 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.
The price of mustard has softened. On the other hand, palm oil prices have softened in Malaysia, while soy oil prices have stabilized 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 softening in the prices of mustard. Along with mustard oil, the subscription for khal is also weak.
The prices of edible oils have softened in the domestic market. In Malaysia, palm oil prices weakened by 6 rigints to 3,863 rigints per tonne in the July futures contract. On the other hand, the prices of soya oil are stable in Chicago also. In such a situation, there may be a slight softening in the prices of edible oils, on the other hand, the damage that was expected to be caused to the soybean crop in Brazil due to floods has now reduced.
Soybean prices have weakened in the producer markets. According to traders, the risk of damage to the soybean crop in Brazil is less than before. Anyway, the daily arrival of soybean in the domestic producer markets remains equal, while the plants are purchasing only as per requirement. In such a situation, a slight uptrend may occur. Soybean and meal prices have risen in Chicago, while those of soy oil have remained stable.
The arrival of castor seed in Gujarat was 1,65,000 bags and its price increased by Rs 10 from Rs 1,080 to Rs 1,105 per 20 kg. In Rajkot, commercial castor oil prices increased by Rs 5 to Rs 1,130 and FSG prices increased by Rs 5 to Rs 1,140 per 10 kg. According to experts, the production estimate for the current season is high and the arrival will increase further in the coming days, hence there is no possibility of a big increase in the current prices.
Cotton prices increased in the domestic market. Cotton prices had increased in the foreign market for the second consecutive day on Wednesday. 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 almost 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.
The prices of guar seed and guar gum remained stagnant. Traders are not in favor of a big rise in their prices right now. 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.