Pigeon pea strong, gram weak and prices of other pulses stable
Wheat prices soft, guar gum and seed prices stable
New Delhi. Gram prices in Delhi have weakened by Rs 25. According to traders, there has been a decline in gram in the last two days due to decrease in purchase of pulses from mills, although selling at lower prices has also reduced. 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 fell by Rs 25 to Rs 6,375 to Rs 6,400 per quintal, during this period, the price of new gram from Madhya Pradesh fell by Rs 25 to Rs 6,350 to Rs 6,375 per quintal. The daily arrival of gram was 7 to 8 motors
Pigeon pea prices have opened up by Rs 50 in Solapur. However, the prices of Lemon Pigeon pea in Chennai are stable in dollar terms. According to traders, pigeon pea imports are expensive, hence importers want to increase the prices, but 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 11,900 per quintal.
Imported urad prices remained stable in dollar terms in Chennai, despite rising on Thursday. 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 $1,145 per tonne, C&F.
Moong prices became stable in the producer markets, 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 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 prices of local lentils became stable in Delhi, whereas the prices had increased on Thursday. Traders are not yet bullish on lentils because on one hand the demand for lentils is weak, while on the other hand 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 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, but the sales are also coming down. Therefore, 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. The price of steam rice of Pusa 1,121 variety in Haryana was Rs 8,800, that of 1,121 Golden Sela was Rs 8,400 and the price of Sela was Rs 7,600 to 7,700 per quintal.
Wheat prices weakened by Rs 5 to Rs 2,435 to Rs 2,470 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 such a situation, there may be a slight softening in its price. The daily arrival of wheat was 5,000 bags.
In the current Rabi marketing season 2024-25, more than 242.95 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, due to which 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 there is no possibility of much rise in its prices. Maize prices in the mandis of Bihar stabilized at Rs 2,040 to Rs 2,060 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. In Charkhi Dadri Mandi, millet was traded at the rate of Rs 2,180 to 2,200 per quintal.
Barley prices have increased. 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 further slight improvement in the price. Charkhi Dadri Mandi barley prices increased from Rs 1700 to Rs 1990 per quintal. Barley prices may further rise by Rs 250 to Rs 300 per quintal.
Sugar prices stabilized. 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 became stable. On the other hand, palm oil prices have softened in Malaysia, although soy oil prices have opened higher in Chicago. According to experts, if the weather remains favorable in the producing states, the inflow of mustard will continue. In such a situation, there may be a slight softening in the prices of mustard, but there is no possibility of a big fall. Along with mustard oil, the subscription for khal is also weak.
There is a mixed trend in the prices of edible oils in the domestic market. Soya oil prices have opened higher by Rs 3, while palmolein prices have softened. In Malaysia, palm oil prices weakened by 41 rigints to 3,790 rigints per tonne in the July futures contract. However, the prices of soy oil have opened high in Chicago. In such a situation, there may be a slight rise or fall in the prices of edible oils.
Soybean prices have weakened in the producer markets. According to traders, the risk of damage to soybean crops 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 the requirement. In such a situation, slight softening may also occur. There is a mixed trend in soybean in Chicago, while the prices of meal have weakened. However, the prices of soya oil have opened higher.
Castor seed price in Rajkot increased from Rs 1,050 to Rs 1,101 per 20 kg. In Rajkot, commercial castor oil prices increased by Rs 3 to Rs 1,133 and FSG prices increased by Rs 3 to Rs 1,143 per 10 kg.
Cotton prices have weakened in the domestic market. There was a decline in the price of cotton in the foreign market on Thursday, hence the prices of domestic mills also reduced. 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 became soft, 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 became stable. Traders were bearish on their prices on Thursday, hence buying from stockists at lower prices may bring a slight rise. 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 assuming a huge one-sided 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.