Pigeon pea, gram, lentils and moong slow down, prices of other pulses stable
Wheat prices soften, guar gum and seeds stable
New Delhi. Rajasthani gram prices opened weak by Rs 25 in Delhi while Madhya Pradesh gram prices remained stable. According to traders, procurement from pulse mills is weak at these prices, hence there may be a slight softening in the prices. However, the chances of a major decline are less. Anyway, the daily arrival of gram in the mandis of producing states is not increasing as expected, and considering that the production estimate for the current season is low, the future of gram is only bullish. However, the market will not be one-sided bullish. Import of gram from Australia is also expensive. In Delhi, the price of gram from Rajasthan fell by Rs 25 to Rs 6,750 to Rs 6,775 per quintal, during this period the price of gram from Madhya Pradesh was quoted from Rs 6,725 to Rs 6,750 per quintal. The daily arrival of gram was 6 to 7 motors.
Pigeon pea prices have opened higher by Rs 50 in Solapur. According to traders, lemon prices had increased in dollar terms last week. Hence, due to costlier imports, stockists have remained active in pigeon pea and its prices have increased by Rs 450 per quintal in a week. However, due to the increased prices, the uptake of Arhar dal is not increasing. Therefore, profit booking may occur in its price. However, import of pigeon pea is expensive due to which importers are increasing the prices. The government is constantly reviewing the prices of pulses. 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. Dal millers are purchasing at increased prices only as per requirement. In Solapur, the price of pigeon pea rose from Rs 10,700 to Rs 12,450 per quintal.
Prices of imported urad in dollar terms had risen in Chennai last week. Therefore, imports of urad are expensive, hence there may be a slight improvement in its prices, but the big rise will not last. According to traders, the arrival of summer urad has increased in the producer markets, while the demand for urad dal in wholesale and retail is weaker than normal, hence the big one-sided rise in urad prices will not be sustainable. 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 remain the same, and production estimates in Myanmar are also higher. However, in Chennai, urad FAQs remained steady at $1,100 per tonne and SQ at $1,190 per tonne, C&F.
Moong prices became weak by Rs 100 in Delhi, and the price has fallen by Rs 200 in the last two working days. According to traders, the demand for moong dal is weak, hence its current prices may fall further. 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 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. Moong prices in Delhi stabilized at Rs 8,450 to Rs 8,600 per quintal.
Prices of desi lentils weakened by Rs 25 in Delhi. According to traders, lentils had increased last week due to buying by stockists, but traders are not yet in favor of a big rise. However, the arrival of lentils in the markets of Madhya Pradesh as well as Uttar Pradesh has reduced compared to earlier, and the prices of imported lentils are also high. Therefore, its price may improve further. Anyway, record production of lentils is expected in the current Rabi. The central government is also reviewing the prices of pulses every week. The old stock of lentils in the central pool is also good. According to experts, the demand for lentils in the consuming states of Bihar, Bengal and Assam will be less than normal in June. In Delhi, the price of local lentils was Rs 6,575 to Rs 6,600 per quintal.
Along with paddy, the prices of Basmati rice had improved at the end of last week. According to experts, the sale of rice mills at lower prices has reduced, however, the demand at these prices also remains limited because the arrival of paddy will increase in the coming days. Therefore, if the arrival of paddy increases, there will be pressure on prices. According to experts, sowing of Sathi has reduced this time. From Rajasthan line, 1718 variety of sela was traded at Rs 7,225 and 1,509 variety of sela was traded at Rs 6,300 per quintal.
Wheat prices weakened by Rs 10 to Rs 2,485 to Rs 2,490 per quintal at Lawrence Road. The arrival of wheat in the producing states has been less than before, as well as the purchases by stockists have also decreased. In such a situation, there may be a slight softening in its price.
In the current Rabi marketing season 2024-25, 260.02 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP. The central government has set a target of 372.9 lakh tonnes for wheat procurement, but considering the decline in daily arrivals, the procurement may be much less than the target.
Maize prices have increased, although traders are not very bullish on it. The arrival of Rabi maize is continuous in the mandis, hence the huge rise in its price will not be sustainable. The price of starch maize in Sangli Mandi was Rs 2,375 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 2,375 per quintal.
Barley prices have increased. 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 producer markets increased from Rs 1850 to Rs 2050 per quintal. Barley prices will rise further.
Sugar prices have improved. Traders are not too bearish on sugar, as it is the summer season and the demand for sugar is expected to remain. Crushing has stopped in the sugar mills of Maharashtra.
Mustard is expected to soften, although there has been a slight improvement in palm oil in Malaysia, but soy oil has softened in Chicago. According to experts, there will be further reduction in the daily arrivals of mustard in the producing states, hence there may be a slight decline in the prices of mustard, but there is no possibility of much slowdown. The prices of mustard oil have become stable, while the demand for oil has weakened.
The prices of edible oils are expected to soften in the domestic market. In Malaysia, palm oil prices rose by 12 rigints to 3,904 rigints per tonne in the August futures contract, while the prices opened soft in Chicago. Therefore, there may be a slight softening in the prices of edible oils in the domestic market.
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 requirement. In such a situation, a slight improvement may be possible but there is no possibility of a big rise. The prices of soybean, soy oil and meal have weakened in Chicago.
In Gujarat, the price of castor seed increased by Rs 15 from Rs 1,105 to Rs 1,125 per 20 kg and its daily arrival was 1,10,000 bags. In Rajkot, castor oil commercial prices declined by Rs 10 to Rs 1,135 and FSG prices declined by Rs 10 to Rs 1,145 per 10 kg.
Cotton prices have improved in the domestic market. On the other hand, cotton prices have increased in the foreign market today, although the price of cotton has declined in the current month. Looking at it, it doesn’t seem to be falling into export. 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 improvement in the prices of cottonseed and cotton cake, according to traders, selling at lower prices is weak, hence there may be further slight improvement in the current prices. Anyway, due to decrease in daily arrivals of cotton in the producer markets, the sales of oil mills are also weak. Therefore, there is no possibility of much decline in prices.
The prices of guar seed and guar gum became stable. Traders are not yet in favor of a big rise in the prices of guar gum and seeds, although stockists want to increase the prices. Export demand for guar gum products remains normal and outstanding stocks with plants are high. Monsoon rains are expected to be normal in the current season. There has been a decrease in the daily arrivals of guar seeds in the producer markets as compared to earlier