Prices of gram and arhar fast, prices of other pulses stable
Wheat softens, guar gum and seeds rise
New Delhi. Chana prices increased by Rs 50 in Delhi. According to traders, there is limited uptrend in the prices of gram, although its price has increased to Rs 325 per quintal in the current month. The way the daily arrival of gram in the mandis of producing states is not increasing as expected, and the production estimate for the current season is low, hence the future of gram is bullish, but the market will not be one-sidedly bullish. In Delhi, the price of gram of Rajasthan increased by Rs 50 to Rs 6,675 to Rs 6,700 per quintal, during this period the price of gram of Madhya Pradesh increased by Rs 50 to Rs 6,650 to Rs 6,675 per quintal. The daily arrival of gram was 4 to 5 motors
In Solapur, the price of Pigeon pea rose by Rs 100 and within a week its prices have increased by around Rs 300 to Rs 350 per quintal. On the other hand, in Chennai too, the prices of lemon arhar have increased in dollar terms during the week. According to traders, imports of pigeon pea are expensive, hence importers are increasing the prices, but profit booking can come on the increased prices, because the government is constantly reviewing the prices of pulses. 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. Dal millers are purchasing at increased prices only as per requirement. In Solapur, the price of pigeon pea increased from Rs 10,700 to Rs 12,200 per quintal.
Prices of imported urad in dollar terms had increased in Chennai on Wednesday, while today the prices became stable. According to traders, imports of urad have become expensive, hence there may be a slight improvement in its prices. However, the chances of a big rise are less. The arrival of summer urad has increased in the producer markets, while the demand for urad dal in wholesale and retail is weaker than normal, hence a big one-sided rise in the prices of urad will not be sustainable. 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 remain the same, and production estimates in Myanmar are also higher. In Chennai, urad FAQs remained steady at $1,075 per tonne and SQ at $1,165 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. Moong prices in Delhi stabilized at Rs 8,550 to Rs 8,700 per quintal.
Prices of local lentils became stable in Delhi. According to traders, 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 may be a slight improvement in its price but the big rise will not last. The old stock of lentils in the central pool is also good. According to experts, the demand for lentils in the consuming states of Bihar, Bengal and Assam will be less than normal in June. In Delhi, the price of desi lentils was Rs 6,475 to Rs 6,500 per quintal.
Along with paddy, the prices of Basmati rice have also softened. According to experts, while buying is weak, selling is also coming down. Therefore, traders are not very bearish now at the current prices. Due to government procurement of wheat, the arrival of paddy is stopped in the markets. From Madhya Pradesh line, Pusa 1,718 sela rice was traded at Rs 7100 and 1,509 sela rice was traded at the rate of Rs 6250 to 6300 per quintal.
Wheat prices weakened by Rs 5 to Rs 2,470 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.
In the current Rabi marketing season 2024-25, 255.23 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 markets, hence there is no possibility of a big rise in its price. In Hyderabad, the price of feed quality maize was quoted at Rs 2,420 per quintal.
Millet prices remained stable. 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 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 will rise further.
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.
Mustard prices have become stable, palm oil prices have opened weak in Malaysia, but soy oil prices have 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 is no possibility of much decline in mustard prices. The prices of mustard oil have become stable, while the demand in oil remains the same.
In the domestic market, the prices of edible oils have opened weak by five to eight rupees. In Malaysia, the price of July palm oil futures contract weakened by 37 rigints to 3,824 rigints per tonne, although the prices of soy oil also opened higher in Chicago. In such a situation, there may be a slight rise or fall in the prices of edible oils.
Soybean prices became stable 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 and soy oil in Chicago while there is a mixed trend at the mill.
The arrival of castor seed in Gujarat was 1,40,000 bags, and the price weakened by Rs 5 from Rs 1,090 to Rs 1,115 per 20 kg.
Cotton prices stabilized in the domestic market. On the other hand, there was a mixed trend in cotton prices in the foreign market on Wednesday, whereas today the prices opened higher 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.
The prices of cottonseed and cotton cake became stable, according to traders, selling at lower prices is weak, hence there can be a slight improvement in the current prices. Anyway, due to decrease in daily arrivals of cotton in producer markets, sales of oil mills are also weak. Therefore, there is no possibility of much decline in prices.
The prices of guar seed and guar gum have increased. According to traders, there may be a slight rise in its prices but a big one-sided rise will not last. Anyway, the 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. However, there has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.