Gram fast, pigeon pea slow, prices of other pulses stable
Wheat prices stable, guar gum and seeds soft
New Delhi. Chana prices opened higher by Rs 50 in Delhi. According to traders, purchasing of gram by stockists has increased and its price may soften due to profit booking, but 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 increased by Rs 50 from Rs 6,850 to Rs 6,875 per quintal, during this period, the price of gram from Madhya Pradesh increased by Rs 50 from Rs 6,800 to Rs 6,825 per quintal. The daily arrival of gram was 9 to 10 motors.
Pigeon pea prices have opened weak by Rs 50 in Solapur. Lemon prices have remained stable in dollar terms for the last two days. According to traders, pigeon pea prices have weakened due to profit-booking by stockists, although imports remain expensive. Therefore, stockists will not allow too much slowdown. However, the uptake of Arhar dal is not increasing at higher prices. Therefore, its price may soften further due to profit booking. On the other hand, the government is continuously 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. The price of pigeon pea in Solapur increased from Rs 10,700 to Rs 12,400 per quintal.
Prices of imported urad in dollar terms remained stable in Chennai on Monday, but today urad prices opened weak by Rs 25 in Chennai. 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 a big one-sided rise in the prices of urad 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 SQ declined by Rs 25 to Rs 9,800 per quintal and FAQ by Rs 25 to Rs 9,100 per quintal.
Moong prices became stable in Delhi. 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 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. Moong prices in Delhi stabilized at Rs 8,400 to Rs 8,550 per quintal.
Prices of local lentils became stable in Delhi. According to traders, traders are not in favor of a big rise in lentils right now. 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 6,550 to Rs 6,575 per quintal.
Along with paddy, the prices of Basmati rice became stable. 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. In Karnal Mandi, the price of paddy of 1,847 varieties was Rs 2,800 per quintal.
Wheat prices remained stable at 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. The arrival of wheat in Delhi was 2,000 bags.
In the current Rabi marketing season 2024-25, 260.54 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 became stable. The arrival of maize is continuous in the producer markets, hence a big increase in its price is not expected. In Hyderabad, the price of feed quality maize was quoted at Rs 2,450 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, millet was traded at the rate of Rs 2,170 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. Nohar Mandi barley prices ranged from Rs 1950 to Rs 2045 per quintal. Barley prices will rise further.
Sugar prices have improved. Traders are not too bearish on sugar, due to the summer season, demand for sugar is expected to remain. Crushing has stopped in the sugar mills of Maharashtra.
Mustard prices were stable, while palm oil improved in Malaysia, but soy oil declined 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 price of mustard oil increased by five rupees, while the subscription of oil remained stable.
The price of edible oils has increased by Rs 3 to 10 in the domestic market. In Malaysia, palm oil prices rose by 19 rigints to 3,940 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.
The prices of soybean fell in the 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 decline in soybean and soy oil prices in Chicago, but the prices of meal have increased.
In Gujarat, the price of castor seed increased by Rs 5 to Rs 1,100 to Rs 1,120 per 20 kg and its daily arrival was 1,15,000 bags. 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 stabilized in the domestic market. Cotton prices have softened in the foreign market today. There has been a slowdown in cotton 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 is 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 producer markets, 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 weak. 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.