Gram rises, prices of other pulses stable
Wheat soft, guar gum and seed slow
New Delhi. The central government has reduced the duty on import of indigenous gram to zero, but due to the rise in prices of gram in Australia, imports have become expensive. Hence, gram prices in Delhi increased by Rs 50. Imports of gram have become costlier, hence while there is less selling at lower prices, pulses mills are also purchasing only as per requirement at increased prices. Therefore, there will be limited bullishness and bearishness in the prices. Anyway, the daily arrival of gram in the mandis of the producing states is not increasing as expected, because the production estimate in the current season is low, hence the future is going to be bullish. In Delhi, the price of new gram from Rajasthan was quoted at Rs 6,400 to Rs 6,425 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,375 to Rs 6,400 per quintal. The daily arrival of gram was 2 to 3 motors.
Pigeon pea prices have remained stable in Solapur. Lemon pigeon pea prices in Chennai remain stable in dollar terms today. According to traders, the import of pigeon pea is expensive, hence importers want to increase the prices, however, the huge increase will not be sustainable. On the other hand, the import of lemon from Myanmar is increasing, along with the shipment of new pigeon pea is also coming from Sudan. Due to the increased prices of arhar dal, the retail as well as wholesale subscription is weaker than normal. 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.
Imported urad prices remained stable in dollar terms 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 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. 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 $1,060 per tonne and SQ at $1,140 per tonne, C&F.
The prices of moong had increased in the producer markets at the end of last week, however, the demand for moong dal is weak, hence its prices are expected to fall further, because the arrival of summer moong has started in the mandis of Madhya Pradesh and Gujarat. And if the weather remains favourable, the daily arrival of new moong in the markets of the producing states 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. Bilti prices of moong in Jaipur mandi became stable at Rs 8,200 to Rs 8,700 per quintal.
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, there is no possibility of a big rise in its price. 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 remain stable. According to experts, the demand from exporters for Basmati rice is weaker than normal, hence the price is not rising. However, traders are not likely to be too bearish right now. Due to government procurement of wheat, the arrival of paddy is stopped in the markets.
Wheat prices weakened by Rs 10 at Lawrence Road to Rs 2,450 to Rs 2,480 per quintal. 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, although private procurement has reduced as compared to before.
In the current Rabi marketing season 2024-25, more than 225 lakh tonnes of wheat has been procured from major producing states at the Minimum Support Price, MSP.
Maize prices have softened. 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 Mandi, the price of starch maize softened to Rs 2,330 per quintal.
Millet prices stabilised. According to traders, the arrival of millet is decreasing significantly in the markets, hence there will not be much slowdown. Poultry millet reaching Punjab was traded at the rate of Rs 2,200 to 2,220 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 are ranging from Rs 1600 to Rs 1915 per quintal in Rajasthani markets.
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 remained stable. On the other hand, there was a slight improvement in palm oil in Malaysia, although the prices of soya oil opened higher 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.
The prices of edible oils have softened in the domestic market. However, in Malaysia, palm oil prices rose by 3 rigints to 3,847 rigints per tonne in the July futures contract. On the other hand, soy oil has also increased in Chicago. Therefore, there may be a slight improvement in their prices but there is no possibility of a big rise in their prices. Experts believe that there is no expectation of a one-sided rise in the prices of 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, soybean and meal prices have weakened, while soy oil has opened higher.
The daily arrival of castor seed in Gujarat was 1,80,000 bags and its price remained stable at Rs 1,085 to Rs 1,105 per 20 kg. In Rajkot, castor oil commercial prices remained stable at Rs 1,135 per 10 kg and FSG at Rs 1,145 per 10 kg.
Cotton prices have increased in the domestic market. Today its prices have increased in electronic trading in the foreign market. 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.
There has been improvement in the prices of cottonseed and cotton cake, according to traders, the subscription is weaker than normal and due to the 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 have softened. 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.