Gram weak, prices of other pulses stable
Improvement in wheat, decline in guar gum and seeds.
New Delhi. Rajasthani gram prices softened by Rs 25 in Delhi. Its prices had softened on Tuesday evening also. According to traders, due to increased prices of gram, pulses mills are purchasing only as per requirement, while selling at lower prices reduces. Therefore, there may still be limited bullishness and bearishness in its price. Although 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 bullish, but the market will not be unilaterally bullish. In Delhi, the price of gram from Rajasthan fell by Rs 25 to Rs 6,600 per quintal, during this period the price of gram from Madhya Pradesh was said to be Rs 6,575 to Rs 6,600 per quintal. The daily arrival of gram was 5 to 6 motors.
Pigeon pea prices in Solapur became stable after four days of rise. In Chennai, the prices of Lemon Pigeon pea in dollar terms had increased for the second consecutive day on Tuesday, however today the prices opened stable. According to traders, the import of pigeon pea is expensive, hence the importer is increasing the prices. But the big rise in its prices will not be sustainable. Import of lemon from Myanmar is leveling off, along with 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 12,100 per quintal.
Imported urad prices opened flat in dollars in Chennai today, whereas they had risen by $10 each in the evening session on Tuesday. According to traders, the arrival of summer urad has increased in the mandis of Madhya Pradesh, while 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. 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 $1,070 per tonne and SQ at $1,160 per tonne, C&F.
Moong prices remain stable in producer markets. According to traders, the demand for moong dal is weak, hence its current prices are expected to fall. 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 mandis of the producing states will increase as 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 arrival of summer moong has started increasing in the markets of Madhya Pradesh. In Delhi, the price of 5/80 claim moong was Rs 6,800 per quintal.
Prices of local lentils became stable in Delhi. According to traders, the demand for lentils is weak due to the increased prices and 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 local lentils was Rs 6,450 per quintal.
Along with paddy, the prices of Basmati rice have remained stable. According to experts, the demand from exporters for Basmati rice is weaker than normal, and the millers do not seem to be able to appreciate these prices. Therefore the prices may stop. Due to government procurement of wheat, the arrival of paddy is stopped in the markets.
Wheat prices rose by Rs 5 from Rs 2,470 to Rs 2,475 per quintal at Lawrence Road. The arrival of wheat in the states of North India has decreased compared to before, and the purchases from stockists have also decreased. 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, 255 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP. The daily arrival of wheat in the producer markets has decreased compared to earlier.
Maize prices became stable. According to traders, the arrival of Rabi maize is continuous in the mandis, hence there is no possibility of a big rise in its price. The price of starch maize in Sangli Mandi was Rs 2,330 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 Rs 2,200 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 in producer markets are ranging from Rs 1750 to Rs 2000 per quintal. Barley prices may rise further further.
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 may improve, palm oil prices have opened higher in Malaysia, while soy oil prices have also increased in Chicago. According to experts, there will be a further decline in the daily arrivals of mustard in the producing states because stockists are reducing sales at lower prices. In such a situation, there may be a slight increase in the prices of mustard. Mustard oil prices have opened up by Rs 5, and the demand in the market is also good.
There is a mixed trend in the prices of edible oils in the domestic market, while the prices of mustard and soya oil have opened higher, while the price of palm oil has become weak by five rupees. In Malaysia, July palm oil futures contracts rose by 46 rigins to 3,861 rigins per tonne, while soy oil prices also rose in Chicago. In such a situation, there may be a slight rise in the prices of edible oils.
Soybean prices are expected to improve in producer markets. According to traders, the daily arrival of soybean in the domestic producer markets has remained the same, while the plants are purchasing only as per requirement. In such a situation, a slight improvement may be possible but there is no possibility of a big rise. There has been a rise in soybean, soy oil and meal in Chicago.
The arrival of castor seed in Gujarat was 1,50,000 bags, and the price weakened by Rs 10 to Rs 1,100 to Rs 1,120 per 20 kg.
Cotton prices have weakened in the domestic market. On the other hand, there was a decline in the prices of cotton in the foreign market on Tuesday and it has also become weak 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 an improvement in the prices of cottonseed and cotton cake, according to traders, there may be further slight improvement in the prices due to demand at lower prices. Anyway, due to decrease in daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there may be a slight increase in prices.
The prices of guar seed and guar gum have weakened. 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.