Decline in gram, prices of other pulses stable
Wheat prices stopped, guar gum and seeds slowed down
New Delhi. Chana prices weakened by Rs 50 in Delhi. Mills are buying pulses and gram only as per requirement at these prices, although the selling has also become weak. Therefore, it can also become lighter in meaning. The daily arrival of gram in the markets 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 6,300 to Rs 6,325 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,300 per quintal. The daily arrival of gram was 5 to 6 motors.
Pigeon pea prices remained stable in Solapur. According to traders, the import of lemon from Myanmar is leveling off, 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. However, the central government is conscious about 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. In Solapur market, the price of desi arhar was quoted at Rs 10,000 to Rs 11,850 per quintal.
Prices of imported urad in dollar terms are still stable in Chennai today, although its prices had increased in the spot market on Thursday. 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 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 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. 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 fall, because the arrival of summer moong has started in the mandis of Madhya Pradesh and Gujarat and if the weather is favourable, 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 demand for lentils is weak, while the arrival of lentils remains equal in Madhya Pradesh as well as Uttar Pradesh. Anyway, 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 6,275 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. 1,121 steam rice from Haryana Line was traded at Rs 8,800, Golden Sela at Rs 8,400 and Sela at Rs 7,600 to 7,650 per quintal. 1,718 steamed rice was traded at Rs 8,300 per quintal.
Wheat prices stabilized at Rs 2500 per quintal at Lawrence Road. The arrival of wheat in the states of North India has started decreasing compared to before, because the government is purchasing along with stockists and millers.
Government procurement of wheat has been 208.48 lakh tonnes, according to traders, the total purchase of wheat is estimated to be only 270 to 280 lakh tonnes.
Maize prices remain stable. 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, starch maize was traded at the rate of Rs 2,350 per quintal.
Millet prices softened. According to traders, the arrival of millet is decreasing significantly in the markets, hence there will not be much slowdown. Reaching Punjab, poultry millet was traded at the rate of Rs 2,200 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. Barley prices in Rajasthani markets are 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, palm oil prices have softened in Malaysia and soya oil prices have opened weak 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 is no possibility of a big rise in the prices of mustard. Along with mustard oil, the subscription for khal is also weak.
There is a mixed trend in the prices of edible oils in the domestic market, where the prices of soya oil have opened higher by Rs 3, while the prices of palm and sunflower have softened. On the other hand, palm oil prices in Malaysia weakened by 17 ringgit to 3,829 ringgit in July futures contract. On the other hand, there has been a decline in soy oil in Chicago today. Therefore, there is no possibility of increase in their prices. Experts believe that there is no expectation of a one-sided rise in edible oils in the world 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. In Chicago, the prices of soybean and meal have increased while the prices of soy oil have opened weak.
Cotton prices stabilized in the domestic market. Although cotton prices had weakened in the foreign market on Thursday too, today the prices opened higher in electronic trading. The demand from domestic mills is limited. 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 weakened on the second day. 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.