Prices of gram as well as other pulses remain stable
Wheat prices stable, guar gum and seeds improved
New Delhi. Gram prices became stable in Delhi. According to traders, at these prices the mills are purchasing pulses only as per requirement, although the sales are weak. Therefore, its price is expected to remain limited bullish and bearish for now. 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 6,475 per quintal, while the price of new gram from Madhya Pradesh was quoted at Rs 6,425 to Rs 6,450 per quintal. The daily arrival of gram was 5 to 6 motors.
Pigeon pea prices remain stable in Solapur. On the other hand, in Chennai, the prices of lemon arhar remained in dollar terms. According to traders, the import of pigeon pea is expensive, hence the 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. Pigeon pea prices in Solapur remain stable at Rs 10,700 to Rs 11,850 per quintal.
Prices of imported urad remained stable in dollar terms in Chennai, while the prices had softened on Tuesday. 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. 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 $1,135 per tonne, C&F.
Moong prices became stable in producer markets. According to traders, 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 is favourable, new moong will be available in the mandis of the producing states. Daily arrivals 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 stabilized at Rs 6,800 to Rs 8,050 per quintal in Chhindwara mandi.
Prices of local lentils became stable in Delhi. Its prices had increased in the last two days but traders in lentils are not in favor of a big rise. The demand for lentils is weak, while the arrival of lentils remains the same 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 desi lentils was quoted at Rs 6,325 to Rs 6,350 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 remained stable at Rs 2,450-2,475 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, although private procurement has reduced as compared to before.
In the current Rabi marketing season 2024-25, more than 235.65 lakh tonnes of wheat has been procured from major producing states at the Minimum Support Price, MSP.
Maize prices became stable, according to traders, the arrival of Rabi maize is continuous in the markets, hence its price is expected to soften. Bilty price of maize in Sangli Mandi remained at Rs 2,400 to Rs 2,460 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. In Charkhi Dadri Mandi, millet was traded at the rate of Rs 2,180 to 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 stabilised. Traders are not too bearish on sugar as of now, as it is the summer season, the demand for sugar is expected to remain. By the end of April, 315.90 lakh tonnes of sugar has been produced in states across the country and the total production is estimated to be 320 lakh tonnes.
The price of mustard has softened. On the other hand, palm oil prices have softened in Malaysia and soya oil prices have also 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 may be a slight softening in the prices of mustard. Mustard oil prices have opened higher by Rs 10, while the subscription in oil is normal.
There was a mixed trend in the prices of edible oils in the domestic market, the prices of mustard, soya oil and palm crude have increased, while those of palmolein and palm refined have declined. In Malaysia, palm oil prices weakened by 15 rigints to 3,915 rigints per tonne in the July futures contract. On the other hand, soy oil has also declined in Chicago. Therefore, there may be a slight softening in their prices, on the other hand, there is a possibility of damage to the soybean crop in Brazil due to floods.
Soybean prices became stable in producer markets. According to traders, its prices have increased by Rs 100 to 150 in the last week because there is a fear of damage to the crop in Brazil. However, the daily arrival of soybean in the producer markets remains the same, while the plants are purchasing only as per the requirement. In such a situation, a slight uptrend may occur. The prices of soybean, meal and soya oil have weakened in Chicago.
The arrival of castor seed in Gujarat was 1,80,000 bags and its price stabilized at Rs 1,075 to Rs 1,095 per 20 kg. In Rajkot, commercial castor oil stood at Rs 1,125 and FSG at Rs 1,135 per 10 kg. According to experts, the production estimate in the current season is high and the arrival will increase further in the coming days, hence the current prices are expected to remain subdued.
Cotton prices stabilized in the domestic market. Although the prices had increased in the foreign market on Tuesday, even today the prices have opened higher in electronic trading. 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 a slight softening 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.
Guar seed and guar gum prices have improved, although traders are not in favor of a big rally. 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.