Gram weak, pigeon pea strong, prices of other pulses stable
Wheat prices stopped, guar gum and seeds improved
New Delhi. Chana prices opened weak by Rs 25 in Delhi. According to traders, the increased prices have come down due to profit-booking by stockists, and at the current prices the pulse mills are purchasing only as per requirement. Therefore, more light rain may also occur. However, 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 bullish, the market will not be unilaterally bullish. In Delhi, the price of new gram from Rajasthan fell by Rs 25 to Rs 6,600 to Rs 6,625 per quintal, during this period, the price of new gram from Madhya Pradesh fell by Rs 25 to Rs 6,575 to Rs 6,600 per quintal. The daily arrival of gram was 9 to 10 motors.
Pigeon pea prices opened higher by Rs 100 in Solapur on the fourth working day. On the other hand, in Chennai, the prices of lemon arhar in dollar terms had increased on Monday whereas today the prices are stable. According to traders, the import of pigeon pea is expensive, hence the importer is increasing the prices. However, the huge rise in its prices will not be sustainable. Import of lemon from Myanmar is leveling off, along with 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 12,100 per quintal.
Imported urad prices are stable in dollar terms in Chennai today. According to traders, the arrival of summer urad has increased in the mandis of Madhya Pradesh, while 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 $1,060 per tonne and SQ at $1,150 per tonne, C&F.
Moong prices remain stable in producer markets. According to traders, the demand for moong dal is weak, hence its current prices are expected to fall. 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 mandis of the producing states will increase as 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. The arrival of summer moong has started increasing in the markets of Madhya Pradesh.
Prices of local lentils became stable in Delhi. According to traders, its prices have increased recently but due to the increased prices, the demand for lentils is weak. At the same time, 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 6,450 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, but the sales are also coming down. Therefore, 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 today at Rs 2,435 to Rs 2,470 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 such a situation, there may be a slight softening in its price. The daily arrival of wheat was 5,000 bags.
In the current Rabi marketing season 2024-25, 252.99 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP, which is less as compared to 256.82 lakh tonnes in the same period last year. The daily arrival of wheat in the producer markets has decreased compared to earlier.
Maize prices became stable. According to traders, the arrival of Rabi maize is continuous in the markets, hence there is no possibility of a big rise in its price. In Chalisgaon mandi, the price of starch maize was Rs 2,275 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. Reaching Punjab, millet was traded at the rate of Rs 2,330 per quintal in poultry.
The price of barley has improved. 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 further slight improvement in the price. Nohar Mandi barley prices increased from Rs 1800 to Rs 2000 per quintal. Barley prices may rise further further.
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.
Mustard prices may soften, palm oil in Malaysia has a mixed trend, while soy oil prices opened weak in Chicago. According to experts, there will be a further decline in the daily arrivals of mustard in the producing states because stockists are reducing sales at lower prices. In such a situation, there may be a slight rise or fall in mustard prices. Mustard oil prices have opened up by Rs 10, and the demand in the market is also good.
There is a mixed trend in the prices of edible oils in the domestic market, while the prices of mustard and palmolein have increased, while the prices of soya oil have become weak by five rupees. In Malaysia, the July palm oil futures contract rose by 5 ringgit to 3,873 ringgit per tonne, while the price of soy oil in Chicago also weakened. In such a situation, there is no expectation of a big rise in the prices of edible oils.
Soybean prices became stable in producer markets. According to traders, the daily arrival of soybean in the domestic producer markets has remained the same, while the plants are purchasing only as per the requirement. In such a situation, a slight improvement may be possible but there is no possibility of a big rise. There has been a slowdown in soybean, soy oil and meal in Chicago.
The arrival of castor seed in Gujarat was 1,30,000 bags, and the price increased by Rs 15 to Rs 1,100 to Rs 1,130 per 20 kg.
Cotton prices in the domestic market remained stable for the second day as well. On the other hand, the price of cotton had increased in the foreign market on Monday, but today there is a mixed trend 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.
The prices of cottonseed and cotton cake have improved for the second day as well. According to traders, there may be further slight improvement in the prices due to demand at lower prices. Anyway, due to decrease in daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there may be a slight increase in prices.
Guar seed and guar gum prices increased and a slight improvement may further occur due to active stockists. 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 assuming a huge one-sided 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.