Gram rises, prices of other pulses stable
Wheat prices stopped, guar gum and seeds softened
New Delhi. Chana prices in Delhi opened higher by Rs 25 for the third day. According to traders, gram prices remained high due to buying by stockists. The daily arrival of gram in the mandis of the producing states has reduced significantly compared to earlier, and the production estimate for the current season is low, considering which the future of gram is only bullish. However, the market will not be one-sided bullish. Therefore, buying should be done when profit booking occurs. Import of gram from Australia is also expensive. In Delhi, the price of gram from Rajasthan increased by Rs 25 to Rs 7,075 to Rs 7,100 per quintal, during this period the price of gram from Madhya Pradesh was quoted from Rs 7,025 to Rs 7,050 per quintal. The daily arrival of gram was 5 to 6 motors.
Pigeon pea prices became stable in Solapur. On the other hand, lemon prices in Chennai remain stable in dollar terms. According to traders, stockists want to increase the prices of pigeon pea because imports are expensive. Pulse mills are not taking the risk of rising prices in the domestic market, hence they are purchasing only as per requirement. Anyway, the uptake of Arhar dal is not increasing due to increased prices. The government is constantly reviewing the prices of pulses. Import of lemon from Myanmar is leveling off, along with shipment of new pigeon pea is also coming from Sudan. In such a situation, when its price rises, one should keep booking profits. However, the arrival of local pigeon pea has reduced compared to earlier and the production estimate is also less. The outstanding stock of pigeon pea in the central pool is also low. In Solapur, the price of pigeon pea rose from Rs 10,700 to Rs 12,450 per quintal.
Imported urad prices remained stable in dollar terms in Chennai. According to traders, 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 the big rise in urad prices 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 SQ prices settled at $1,085 per tonne against $1,175 FAQs.
Moong prices became stable in Delhi after rising for two consecutive days. Traders are not yet in favor of a one-sided rise in its prices. There is weak demand for moong dal, hence prices may 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.
Along with local lentils, the prices of imported lentils also increased on Wednesday, whereas today the prices of local lentils remained stable in Delhi. The arrival of lentils in the markets of Madhya Pradesh as well as Uttar Pradesh has reduced compared to earlier, and the prices of imported lentils are also high. Therefore, the improvement in its price may be a slight improvement, but there is no possibility of a huge one-sided rise. Anyway, record production of lentils is expected in the current Rabi. The central government is also reviewing the prices of pulses every week. 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 be less than normal in June. In Delhi, the price of local lentils was Rs 6,700 per quintal.
Along with paddy, the prices of Basmati rice became stable. According to experts, the demand from exporters remains weak at the current prices of rice, although mills are also incurring losses at these prices. Therefore its prices may stop. The arrival of paddy will increase in the coming days, which will put pressure on prices. According to experts, sowing of Sathi has reduced this time.
Wheat prices stabilized at Rs 2,500 per quintal at Lawrence Road. The arrival of wheat in the producing states has been less than before, as well as the purchases from stockists have also decreased. Therefore, there may be limited bullishness and recession in its price.
In the current Rabi marketing season 2024-25, 261.75 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP, which is more than 260.71 lakh tonnes of wheat purchased in the previous Rabi marketing season 2023-24.
Maize prices became stable. According to traders, the arrival of maize has remained the same in the producer markets, hence no major increase in its price is expected. In Bihar’s Gulabbagh market, maize prices were quoted at Rs 2,100 to Rs 2,170 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 Punjab, millet was traded at the rate of Rs 2,350 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 a slight improvement in the price. Barley prices in producer markets ranged from Rs 1950 to Rs 2075 per quintal. Barley prices will rise further.
Sugar prices have improved. Traders are not too bearish on sugar, due to the summer season, demand for sugar is expected to remain. Crushing has stopped in the sugar mills of Maharashtra.
Mustard prices have opened high. Palm oil prices have increased in Malaysia, although soy oil has declined in Chicago. According to experts, there will be a further decline in the daily arrivals of mustard in the producing states, hence there may be a slight improvement in the prices of mustard. The price of mustard oil increased by Rs 10, while the price of flour has also increased.
There is a mixed trend in the prices of edible oils in the domestic market. The price of crude palm oil has weakened by Rs 5, while other oils have increased by Rs 5 to 10. In Malaysia, palm oil prices rose by 23 rigints to 3,891 rigints per August futures contract, although prices opened weak in Chicago. Therefore, there may be a slight rise in the prices of edible oils in the domestic market.
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 the 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 in miles.
Cotton prices increased for the second day in the domestic market. Cotton prices had increased by 3 points in the foreign market on Tuesday. Although there seems to be no increase in cotton exports from the domestic market, the local demand for yarn is also weak. Despite this, 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, selling at lower prices is weak, hence there may be a slight improvement in the current prices. Anyway, due to decrease in daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there is no possibility of much decline in prices.
Guar seed and guar gum have softened. Traders are not in favor of a big rise in their prices right now. However, stockists want to increase the prices. Export demand for guar gum products remains normal and outstanding stocks with plants are high. Monsoon rains are expected to be normal in the current season. There has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.