Gram and tur weak, prices of other pulses stable
Wheat prices soften, guar gum and seed continue to rise
New Delhi. Due to weak demand at increased prices, prices of Rajasthani gram have declined in Delhi, whereas prices of gram from Madhya Pradesh remained stable. According to traders, gram prices had risen recently due to buying by stockists. However, if the weather remains good in the producing states, then the arrival of gram in the markets would increase in the coming days. Dal mills are buying gram only as per their requirement. In such a situation, one should not trade by assuming a big rise. However, the production estimate of gram in the current season is low.
In Delhi, the price of new gram from Rajasthan weakened by Rs 25 and remained at Rs 5,825 to Rs 5,850 per quintal, while the price of new gram from Madhya Pradesh remained stable at Rs 5,800 to Rs 5,825 per quintal. The daily arrival of gram was of 7 to 8 motors.
The bill price of moth rose to Rs 6,500 per quintal in Jaipur market.
In Solapur, the price of pigeon pea weakened by Rs 100. The prices of lemon pigeon pea reaching Chennai from Burma had increased on Thursday, due to which its prices also increased in the domestic market. According to traders, due to the high cost of import, importers want to increase its prices, but the demand support of the mills is not being received, due to which the rise is not being sustained. In such a situation, profit booking should be done in the increased prices. In the coming days, the arrival of lemon from Myanmar will increase, along with this new shipment of pigeon pea will come from Sudan. In the domestic market, the pulse mills are buying only as per the requirement because the demand for pigeon pea is weaker than normal. On the other hand, the central government is constantly reviewing the prices of pulses. According to experts, the arrival of Desi pigeon pea will continue in the producing markets. In Solapur market, the price of Desi pigeon pea was quoted at Rs 9,500 to Rs 10,900 per quintal.
The prices of Urad imported from Burma became stable in dollar terms in Chennai, whereas its prices had increased on Thursday. According to experts, the demand for Urad dal in wholesale and retail is weaker than normal, while the arrival of Urad is continuing in Telangana as well as Andhra Pradesh. Due to the strictness of the Central Government, the mills are purchasing Urad only as per the requirement. In any case, the import of Urad from Myanmar will increase in the coming days, in any case the production estimate in Myanmar is high. In such a situation, due to the activity of stockists in the domestic market, there may be a slight increase in the prices of Urad, but there is no possibility of a big increase. However, imports are expensive. The price of Urad SQ from Burma to Chennai was quoted at $ 1,160 and FAQ at $ 1,070 per ton, C&F.
The prices of moong still remained stable in the producing markets. The traders are not in favor of a big increase in the prices of moong right now. The weather is clear, therefore the daily arrival of moong in the markets of the producing states has started increasing as compared to before, also, due to it being the consumption season, the demand for moong dal will remain, and there is a possibility of the production estimate of moong being low. Therefore, limited rise and fall in its prices is expected to remain. The prices of moong remained stable at Rs 6,800 to Rs 8,000 per quintal in Chhindwara market.
The prices of Desi lentils have become stable in Delhi. The prices of Desi lentils had weakened on Thursday, but the prices of imported lentils were strong. According to experts, if the weather remains favorable in Madhya Pradesh as well as Uttar Pradesh, then the arrivals of new lentils will increase. Record production of lentils is expected in the current Rabi season. However, due to low outstanding stock, the arrivals of old Desi lentils are decreasing in the producing markets, whereas the demand for lentils from the consuming states of Bihar, Bengal and Assam is expected to remain the same. Therefore, there is no possibility of a big increase in its price. The prices of Desi lentils in Delhi were quoted at Rs. 6,350 to Rs. 6,375 per quintal.
Along with paddy, the price of Basmati rice has also improved. According to the traders, the mills have stock of paddy at high prices, while the export demand for rice is expected to remain. Therefore, further improvement in prices is expected. In Amritsar market, the price of 1,121 variety of paddy is Rs. 4100 to 4600 and the price of 1,718 variety of paddy is Rs. 4000. And in Ratia market, the price of 1,886 variety of paddy was quoted at Rs. 4,151, 1,401 at Rs. 4321 and the price of 1,847 variety of paddy was quoted at Rs. 3,341 per quintal.
Wheat prices weakened by Rs 5 at Lawrence Road to Rs 2500 to Rs 2510 per quintal. If the weather remains favorable, the arrival of new wheat in the states of North India will increase in the coming days, so its price is expected to soften further. There has been an increase in the arrival of new wheat in Madhya Pradesh and Rajasthan.
Maize prices are stable. According to traders, the arrival of maize in the markets of Bihar has been increasing continuously, so its prices are expected to soften further. Starch maize prices in Sangli market have stabilized at Rs 2,370 per quintal.
Bajra prices have stabilized. Although traders are not in favor of a big fall, the arrivals in the markets have remained very low. Bajra reaching Punjab was traded at the rate of Rs 2,370 per quintal.
The prices of barley have become stable. The arrival of new crop of barley has increased in the producing markets, and the arrival will increase further in the coming days, hence its prices are expected to decrease further. The prices of barley in the producing markets are running from Rs 1500 to Rs 1,850 per quintal depending on the quality.
Sugar prices remain stable. Traders are not very bearish on sugar right now, due to the summer season, demand for sugar is expected to remain. ISMA has demanded the central government to allow the export of 10 lakh tonnes of sugar, as the sugar production estimate has increased.
Castor seed prices declined by Rs 5 to Rs 1,160 to Rs 1,185 per 20 kg in Gujarat with daily arrivals of 1,20,000 bags. However, in Rajkot, castor oil commercial prices rose by Rs 10 to Rs 1,210 and FSG by Rs 10 to Rs 1,220 per 10 kg.
The price of mustard is expected to fall. Palm oil has fallen in Malaysia, however soya oil is trading mixed in Chicago. If the weather remains favourable in the producing states, the arrival of new mustard will remain the same. In such a situation, its prices are expected to fall. Along with mustard oil, the prices of oil cake have also become stable.
In the domestic market, the prices of edible oils have opened weaker by 2 to 5 rupees. On the other hand, the June palm oil futures contract in Malaysia weakened by 34 ringgit to 4,366 ringgit per tonne, while soya oil in Chicago has a mixed trend. According to experts, profit booking has brought a slowdown in edible oils in the world market, hence their prices may soften further in the domestic market.
Soybean prices have stabilized in the producing markets. According to traders, its prices are not expected to increase much in the domestic market as the daily arrivals in the producing markets will remain the same, while the plants are buying only as per their requirement. Soybean and soy oil prices have increased in Chicago, while mill prices have opened weak.
Cotton prices in the domestic market have fallen for the third day, cotton futures in the foreign market fell by three points for the second consecutive day on Wednesday, due to which the demand of domestic mills has weakened. According to traders, the demand of spinning mills in cotton is expected to remain, because the mills have less outstanding stock of cotton. Therefore, prices are expected to increase again in the future.
There has been a decline in the prices of cottonseed and cottonseed cake today. According to traders, selling at lower prices has reduced, so a slight improvement may occur further. In any case, the daily arrivals of cotton in the producing markets have decreased as compared to earlier, and the arrivals will decrease further in the coming days, so a slight increase in their prices may occur further.
The prices of guar seed and guar gum are on the rise. According to experts, stockists are increasing the prices, so a slight increase can be seen but profit booking should continue at the increased prices, because its prices will not rise one-sidedly. Anyway, the export demand for guar gum products is weaker than normal. However, the daily arrivals of guar seed have decreased compared to earlier.