Prices of gram oil, other pulses stable
Wheat prices soften for the second day, guar gum and seeds rise
New Delhi. Chana prices increased by Rs 25 in Delhi. According to traders, its price had improved on Wednesday evening also. Anyway, at the lower price of gram, the stockists’ purchases increase, whereas at the increased prices, the mills are purchasing only as per the requirement, hence there will be limited rise and fall in the prices. If the weather remains favorable in the producing states, the arrival of gram will continue, and in view of the arrivals, pulse mills are purchasing gram only as per the requirement. In such a situation, buy gram only when the price comes down. However, production estimates for the current season are low, so the future is bullish. In Delhi, the price of new gram from Rajasthan increased by Rs 25 from Rs 6,325 to Rs 6,350 per quintal, while the price of new gram from Madhya Pradesh increased by Rs 25 from Rs 6,275 to Rs 6,300 per quintal. The daily arrival of gram was 3 to 4 motors.
Pigeon pea prices became stable in Solapur. According to traders, pigeon pea imports are expensive, hence importers want to increase the prices. However, the central government is strict regarding the high prices of pulses in the domestic market. In such a situation, pulse millers are purchasing only as per requirement. In the coming days, the arrival of lemon from Myanmar will increase, along with the shipment of new pigeon pea will come from Sudan. Due to the increased prices of arhar dal, the retail as well as wholesale subscription is weaker than normal. According to experts, the arrival of local pigeon pea in the producer markets has decreased compared to earlier. Therefore, one should not trade assuming a big rise in its price right now. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,900 per quintal.
Imported urad prices remained stable in dollar terms in Chennai. According to traders, the demand for urad dal in wholesale and retail is weaker than normal, hence there is no possibility of a big one-sided rise in the prices of urad dal. Anyway, the arrival of urad is still continuing in Telangana as well as Andhra Pradesh and due to the strictness of the Central Government, the pulse mills are purchasing urad only as per the requirement. Anyway, the 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. However, imports are still expensive. In Chennai, urad SQ remained steady at $1,170 per tonne and FAQ at $1,080 per tonne.
Moong prices remain stable in the producer markets even today. Traders are not in favor of a big rise in the prices of moong right now. The arrival of summer moong has started in the mandis of Madhya Pradesh and if the weather remains clear, the daily arrival of new moong in the mandis of producing states will increase as compared to before. Demand for moong dal will still remain, and the production estimate for moong is likely to be lower. Therefore, its price is expected to remain limited bullish and bearish. Arrival of summer moong has started in Madhya Pradesh and Gujarat. In Chhindwara mandi, warehouse moong was traded at the rate of Rs 6,800 to Rs 8,050 per quintal.
The prices of desi lentils have remained stable in Delhi. According to traders, the arrival of new lentils has remained equal in Madhya Pradesh as well as Uttar Pradesh and record production of lentils is expected in the current Rabi. The central government is also reviewing the prices of pulses every week. Therefore, its price is expected to soften further. According to experts, the demand for lentils in the consuming states of Bihar, Bengal and Assam is expected to remain the same. The stock of lentils in the central pool is 6 to 6.50 lakh quintals. In Delhi, the price of local lentils was Rs 6,275 per quintal.
The prices of paddy as well as Basmati rice remain stable. According to traders, demand from exporters for Basmati rice is expected to remain intact, hence there may be a slight improvement in the price. From Madhya Pradesh line, 1,718 varieties of Sela rice were traded at Rs 7150 and 1,509 varieties of Sela were traded at Rs 6500 per quintal.
Wheat prices weakened by Rs 10 from Rs 2425 to Rs 2,435 per quintal at Lawrence Road. The weather is clear in the states of North India, hence the arrival of new wheat has increased. Therefore, its price may soften in future. There has been an increase in arrivals of new wheat in Madhya Pradesh and Rajasthan. The arrival of wheat in Delhi was 3,500 bags.
Maize prices remain stable even today. According to traders, the arrival of Rabi maize has been continuously increasing in the mandis, hence its price is expected to soften in future. In Sangli, the price of maize was quoted at Rs 2,425 to Rs 2,475 per quintal.
The prices of millet have weakened, however, the arrival of millet in the markets is decreasing significantly, hence there will not be much slowdown. Reaching Punjab, millet was traded at the rate of Rs 2,260 per quintal.
Barley prices remain stable. According to traders, the arrival of barley in the producer markets has remained the same and the purchases from the stockists have also remained the same. There is no expectation of a big rise in its price right now. The price of barley in the mandis is ranging from Rs 1550 to Rs 1750 per quintal.
Sugar prices have remained stagnant. Traders are not too bearish on sugar as of now, as it is the summer season, the demand for sugar is expected to remain. However, the initial estimate of sugar is expected to increase and till April 15, 310.93 lakh tonnes of sugar has been produced in the states across the country.
The price of mustard is expected to fall. On the other hand, there has been a decline in palm oil in Malaysia, and the prices of soya oil in Chicago have also weakened. According to experts, if the weather remains favorable in the producing states, the arrival of new mustard will remain the same. In such a situation, a slight decline in its prices is expected. Subscription to mustard oil and mortar is also weak.
In the domestic market, the prices of palmolein have opened higher by Rs 4, while the prices of other oils have opened weaker by Rs 3 to 10. In Malaysia, palm oil prices for the July futures contract weakened by 92 ringgit to 3,850 ringgit per tonne. There has been a decline in soy oil in Chicago also. According to experts, there is little chance of a big rise in edible oils in the world market. Hence, there has been pressure on their prices in the domestic market.
Soybean prices became weak in producer markets. According to traders, the daily arrival of soybean in the producer markets remains the same, while the plants are purchasing only as per the requirement. The prices of soybean, soy oil and meal opened weak in Chicago.
The arrival of castor seed in the markets of Gujarat was 1,45,000 bags and its price remained stable at Rs 1,110 to Rs 1,135 per 20 kg.
Cotton prices remain stable in the domestic market. There is a mixed trend in cotton prices in the world market today, due to which domestic mills are purchasing only as per requirement. 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. However, the rise or fall in its prices will depend on the price of ICE cotton futures.
The prices of cottonseed and cotton cake softened; according to traders, the demand is weaker than normal. However, the daily arrivals of cotton in the producer markets have decreased compared to before, and the arrivals will decrease further in the coming days, hence there may be a slight rise or fall in their prices.
The prices of guar seed and guar gum have opened high, but traders are not very bullish. Export demand for guar gum products is weaker than normal and plants have high outstanding stocks. Monsoon rains are expected to be normal in the current season. In such a situation, one should not do business considering the huge rise in guar gum and seeds. However, there has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.