Prices of gram as well as other pulses remain stable
Wheat improved, guar gum and seed prices weakened
New Delhi. Gram prices became stable in Delhi. In the current prices of gram, while the buying by mills is weak, the selling is also coming down. However, the daily arrival of gram in the mandis of producing states 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 was quoted at Rs 6,425 to 6,450 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,400 to 6,425 per quintal. The daily arrival of gram was 2 to 3 motors.
Pigeon pea prices became stable in Solapur. The central government is conscious of the high prices of pulses in the domestic market and is reviewing the prices every week. In such a situation, pulse millers are purchasing only as per requirement. According to traders, the arrival of lemon from Myanmar will increase in the coming days, along with the shipment of new pigeon pea from Sudan. Due to the increased prices of Arhar dal, the retail as well as wholesale subscription is weaker than normal. However, import prices of Pigeon pea are still expensive, hence importers want to increase the prices. According to experts, the arrival of local pigeon pea in the producer markets has decreased compared to earlier. Therefore, one should keep booking profits in increased prices. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,850 per quintal.
Imported urad prices opened steady in dollars in Chennai. According to traders, imports of urad are expensive, hence importers want to increase the prices, but the demand for urad dal in wholesale and retail is weaker than normal, hence there is no possibility of a big one-sided increase in the prices of urad. Anyway, the arrival of urad is still continuing in Telangana as well as Andhra Pradesh and the arrival of summer urad in Madhya Pradesh will start 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 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. In Chennai, urad FAQs remained steady at $1,050 per tonne and SQ at $1,140 per tonne, C&F.
Moong prices became stable in producer markets. According to experts, the demand for moong dal is weak, hence its prices are expected to soften, because the arrival of summer moong has started in the mandis of Madhya Pradesh and Gujarat and if the weather remains clear, the daily arrival of new moong in the mandis of the producing states will increase. Will increase 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. Moong prices remained stable at Rs 6,800 to Rs 8,050 per quintal in Chhindwara mandi.
Prices of local lentils became stable in Delhi. According to traders, the arrival of 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. 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 reduce after the end of May. In Delhi, the price of local lentils was Rs 6,300 per quintal.
Along with paddy, the prices of Basmati rice became stable. According to experts, demand from exporters for Basmati rice is expected to remain and stockists do not seem to be affected by these prices. Therefore, there is no possibility of much recession. Due to government procurement of wheat, the arrival of paddy is stopped in the markets. 1,718 sela rice from Rajasthan line was traded at Rs 7,200 to 7,231 and 1,509 sela rice from Pusa was traded at the rate of Rs 6,450 per quintal.
Wheat prices rose by five rupees at Lawrence Road from Rs 2460 to Rs 2,490 per quintal. The weather is clear in the states of North India, although the arrival of wheat has started decreasing compared to earlier, because the government is purchasing along with stockists and millers.
Government procurement of wheat has been 205.42 lakh tonnes, whereas it is 7.8 percent less than 222.89 lakh tonnes till this time last year. According to experts, the total wheat procurement is estimated to be only 270 to 280 lakh tonnes.
Maize prices have become stable. According to traders, the arrival of Rabi maize has been continuously increasing in the markets, hence its price is expected to soften in future. In Kaithal, feed quality maize was traded at the rate of Rs 2,300 per quintal.
Millet prices have increased. 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 2,220 to 2,230 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. The price of barley in Rajasthani markets is ranging from Rs 1600 to Rs 1915 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 became stable. On the other hand, there has been a slight improvement in palm oil prices in Malaysia, and the prices of soya oil have increased sharply in Chicago. According to experts, if the weather remains favorable in the producing states, the arrival of mustard will remain constant. In such a situation, there may be a slight improvement in the prices of mustard, but there is no possibility of a big rise. The price of mustard oil weakened by Rs 5, however, the price of flour remained stable.
The price of edible oils has fallen by Rs 2 to Rs 10 in the domestic market. In Malaysia, palm oil prices rose by 10 ringgit to 3,828 ringgit in the July futures contract. On the other hand, soy oil has improved in Chicago today. Therefore, there may be a slight improvement in their prices but the chances of a big rise are less. Experts believe that there is no expectation of a one-sided rise in the prices of edible oils in the world market.
Soybean prices have weakened in the producer markets. According to traders, the daily arrival of soybean in the producer markets has remained the same, while the plants are purchasing only as per the requirement. In Chicago, soybean and meal prices have declined while soy oil prices have opened higher.
In the mandis of Gujarat, castor seed prices weakened by Rs 5 to Rs 1,070 to Rs 1,095 per 20 kg.
Cotton prices in the domestic market became weak for the second day. On the other hand, cotton prices in the foreign market fell to the lowest level in 18 months on Wednesday. Hence, demand from domestic mills also remains weak. 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. But the rise or fall in its prices will depend only on the price of ICE cotton futures.
The prices of cottonseed and cotton cake remain soft, according to traders, the subscription is weaker than normal and due to decrease in the daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there may be a slight rise or fall in their prices.
The prices of guar seed and guar gum became weak. According to traders, export demand for guar gum products is weaker than normal and the outstanding stock with the plants is 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. There has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier.