Gram and lentils soft, pigeon pea sharp, prices of other pulses stable
Wheat prices stable, guar gum and seeds stagnant
New Delhi. Gram prices weakened by Rs 25 in Delhi. According to traders, there is pressure on gram prices, where due to increased prices the demand from mills reduces and the sales are also weak. Anyway, the arrival of gram in the markets of Rajasthan and Madhya Pradesh is less than before and the production estimate is less. In such a situation, the stockist is not in much trouble. The gram seeds imported from Australia are expensive. On Lawrence Road, the price of gram of Rajasthan weakened by Rs 25 to Rs 7,300 to Rs 7,325 per quintal, during this period the price of gram of Madhya Pradesh declined by Rs 25 to Rs 7,250 to Rs 7,275 per quintal.
If the rise in gram prices continues like this, then the central government can take steps like imposing stock limit. The prices of gram in producer markets have increased by 35 percent from the minimum support price (MSP). The central government has fixed the MSP of gram at Rs 5,440 per quintal, while the prices in the mandis are Rs 7,000 to Rs 7,200 per quintal.
Pigeon pea prices increased by Rs 100 in Solapur. According to traders, stockists are increasing the prices of pigeon pea because imports are expensive. However, 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 the 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 increases, 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 by Rs 100 to Rs 10,900 to Rs 12,900 per quintal.
Imported urad prices remained stable in dollar terms in Chennai. According to traders, importers are increasing the prices as imports are becoming expensive. Although the arrival of summer urad has increased in the producer markets, 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 FAQs were quoted at $1,105 per spoke and SQ at $1,200 per spoke.
Moong prices remain stable in Delhi even today. According to traders, the demand for moong dal is weak while the arrival of summer moong in the mandis of Madhya Pradesh and Gujarat has increased compared to earlier. 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. Subscription to moong dal will be less in June. Moong prices in Delhi remained between Rs 8,250 to Rs 8,400 per quintal.
Prices of desi lentils weakened by Rs 25. According to traders, the arrival of lentils in the markets of Madhya Pradesh as well as Uttar Pradesh has reduced compared to before, 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 desi lentils was Rs 6,750 to Rs 6,775 per quintal.
Along with paddy, the prices of Basmati rice remain stable. According to experts, at the current prices of rice, the demand from exporters remains weaker than normal, although the mills are also incurring losses at these prices. Therefore its prices have remained stagnant. However, the arrival of paddy will increase in the coming days, which will put pressure on prices. Sugandha Sela from Rajasthan Line was traded at the rate of Rs 4850 to 4900 per quintal. RS 10 Sela prices rose by Rs 25 to Rs 50 to Rs 4,200 per quintal.
Wheat prices remained stable at Rs 2,575 per quintal in Delhi on Wednesday due to limited purchases from flour mills. The arrival of wheat in the producer markets has reduced compared to before, and procurement from stockists and mills also remains limited.
In the current Rabi marketing season 2024-25, 263.68 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP.
Maize prices became stable. According to traders, the arrival of maize has remained the same in the producer markets, hence there may be a slight improvement in its price, but a big rise is not expected. The price of starch maize in Sangli Mandi was Rs 2,500 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 2,375 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. In Hisar Mandi, barley prices were quoted at Rs 2000 to Rs 2050 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 are expected to soften. Palm oil prices have increased in Malaysia, but soy oil prices have weakened in Chicago. Daily arrivals of mustard in producing states will decline further, with production expected to be lower than industry estimates. Mustard prices will come down only if imported edible oils soften. The price of mustard oil has increased by 20 to 30 rupees, while the demand for oil has also increased.
HAFED will sell 15,189 tonnes of mustard through tender on May 30.
The prices of edible oils have increased by Rs 5-30 in the domestic market. In Malaysia, palm oil prices rose by 45 rigints to 4,005 rigints per tonne in the August futures contract. However, soy oil prices have weakened in Chicago. Therefore, there may be a slight improvement 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 requirement. In such a situation, a slight improvement may be possible but there is no possibility of a big rise. The prices of soybean, soy oil and meal have weakened in Chicago.
In Gujarat, castor seed prices rose by Rs 10 to Rs 1,105 to Rs 1,130 per 20 kg, in Rajkot, commercial oil prices rose by Rs 5 to Rs 1,145 and FSG prices rose by Rs 5 to Rs 1,155 per 10 kg.
Cotton prices have improved in the domestic market. On the other hand, cotton prices had increased 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.
The prices of cottonseed and cotton cake became stable, but traders are not in favor of a big fall. According to traders, the sales of mills are weak while the sales of oil mills are also weak due to decrease in daily arrivals of cotton in the producer markets. Therefore, there is no possibility of much decline in prices.
Prices of guar seed and guar gum became stable. According to traders, export demand for guar gum products remains normal and the outstanding stock with the plants is 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.
During the financial year 2023-24, the export of guar gum products has increased by 2.74 percent to 4,17,691.00 tonnes, whereas during the last financial year 2022-23, its export was only 4,06,531.00 tonnes.