Chana continues to rise, prices of other pulses stable
Wheat prices stable, guar gum and seeds improved
New Delhi. Gram prices increased by Rs 100 in Delhi. According to traders, prices are continuously rising due to purchases by stockists, although profit booking may come at the increased prices. Despite the favorable weather in the producing states, the arrival of gram is not increasing as expected because the production estimate in the current season is low, hence the future is only bullish. In Delhi, the price of new gram from Rajasthan increased by Rs 100 to Rs 6,500 to Rs 6,525 per quintal, while the price of new gram from Madhya Pradesh increased by Rs 10 to Rs 6,450 to Rs 6,475 per quintal. The daily arrival of gram was 2 to 3 motors.
Pigeon pea prices became stable in Solapur. According to traders, the prices of imported lemon in Chennai have remained stable, although its imports are expensive, hence importers want to increase the prices, but 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.
Prices of imported urad in dollar terms remain stable in Chennai today. 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. 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. The 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 Dahod mandi, old moong was traded at the rate of Rs 7,000 per quintal.
The prices of local lentils became stable in Delhi, whereas the prices had increased on Thursday. 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 6,300 to Rs 6,325 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, hence there may be a slight improvement in the current prices. Due to government procurement of wheat, the arrival of paddy is stopped in the markets.
Wheat prices remained stable at Rs 2,450-2,460 per quintal at Lawrence Road. The weather is clear in the states of North India, hence the arrival of new wheat has increased compared to before. Therefore, its price may soften in future. The arrival of new wheat in Madhya Pradesh and Rajasthan also remains equal. Wheat has been procured at support price for 119.26 lakh tonnes, which is 25 percent less as compared to 159.23 lakh tonnes in the same period last year.
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. In Charkhi Dadri Mandi, millet was traded at the rate of Rs 2,200 to Rs 2,250 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.
Mustard prices are stable. There has been an improvement in palm oil prices in Malaysia, and the prices of soy oil have also increased in Chicago. According to experts, the weather is favorable in the producing states, hence the arrival of mustard will remain constant. In such a situation, there is no possibility of a big rise in its prices. Mustard oil prices weakened by Rs 10, while the subscription for Khal was also weak.
In the domestic market, the prices of edible oils have opened weak by Rs 5 to 15. In Malaysia, palm oil prices for July futures contract rose by 17 rigints to 3,891 rigints per tonne. Soy oil has also improved in Chicago. According to experts, there is little chance of a big rise in edible oils in the world market. Therefore, their prices will not increase unilaterally in the domestic market.
Soybean prices became stable 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. Soybean and meal prices opened weak in Chicago, while soy oil improved.
The arrival of castor seed in the markets of Gujarat was 1,50,000 bags and its price dropped by Rs 5 to Rs 1,110 to Rs 1,130 per 20 kg.
Cotton prices in the domestic market remained stable for the second day. 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 have 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.
Guar seed and guar gum have improved, although traders are not very bullish. Export demand for guar gum products is weaker than normal and outstanding stocks with plants are high. 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.