Prices of gram, arhar and moong tej, other pulses stable,
wheat improved, guar gum and seed prices increased
New Delhi. Rajasthani gram prices in Delhi opened higher by Rs 25 for the second day, although the prices of Madhya Pradesh gram became stable. According to traders, the price of gram has increased due to purchasing by stockists. The daily arrival of gram in the mandis of the producing states has reduced significantly compared to earlier, and the production estimate for the current season is low, considering that the future of gram is only bullish. However, the market will not be one-sided bullish. Therefore, buying should be done when profit booking occurs. Import of gram from Australia is also expensive. In Delhi, the price of gram from Rajasthan increased by Rs 25 to Rs 7,000 to Rs 7,025 per quintal, during this period the price of gram from Madhya Pradesh was quoted from Rs 6,950 to Rs 6,975 per quintal. The daily arrival of gram was 4 to 5 motors.
Pigeon pea prices have opened higher by Rs 50 in Solapur, although the prices had softened on Tuesday. Lemon prices remain stable in dollar terms in Chennai. According to traders, the prices of Pigeon pea have increased due to the activism of stockists, anyway the import of Pigeon pea is 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. In Solapur, the price of pigeon pea rose from Rs 10,700 to Rs 12,450 per quintal.
The prices of imported urad in dollar terms softened in Chennai on Tuesday, due to which its prices in Chennai became weak. 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. In Chennai, urad SQ prices settled at $1,085 per tonne against $1,175 FAQs.
Moong prices have opened higher by Rs 50 for the second day in Delhi. However, traders are not in favor of big bullishness in moong. According to traders, the demand for moong dal is weak and hence the prices may 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 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 8,500 to Rs 8,650 per quintal.
Prices of local lentils became stable in Delhi. 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, the improvement in its price may be a mild improvement, but there is no possibility of a one-sided rise. 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 6,525 per quintal.
Along with paddy, the prices of Basmati rice have softened. However, sales of rice mills at lower prices are weak. According to experts, the demand of exporters at these prices also remains limited because the arrival of Sathi 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. 1,509 sela of rice from Karnal line was traded at the rate of Rs 6,250 per quintal.
Wheat prices rose by Rs 10 at Lawrence Road and stabilized at Rs 2,490 to Rs 2,500 per quintal. The arrival of wheat in the producing states has been less than before, as well as the purchases from stockists have also decreased. Therefore, there may be limited bullishness and recession in its price. The industry has demanded the Central Government to reduce the duty on wheat import to zero.
In the current Rabi marketing season 2024-25, 261.28 lakh tonnes of wheat has been procured from major producing states at Minimum Support Price, MSP, which is more than 260.71 lakh tonnes of wheat purchased in the previous Rabi marketing season 2023-24.
Maize prices increased. According to traders, the arrival of maize has remained the same in the producer markets, hence no major increase in its price is expected. In Sangli, the price of maize was quoted at Rs 2,500 to Rs 2,560 per quintal.
Millet prices softened. 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 2,350 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 were quoted at Rs 1900 to Rs 2050 per quintal. Barley prices will rise further.
Sugar prices have improved. Traders are not much in the bear market for sugar, demand for sugar is expected to remain as it is summer season. Crushing has been stopped in sugar mills of Maharashtra.
Mustard prices have stabilized. Soya oil prices have risen in Chicago. According to experts, daily arrivals of mustard in the producing states will decrease further, so there can be a slight decline in mustard prices, but there is no possibility of much decline. Mustard oil prices have risen by Rs 25, while the prices of oil cake have also increased. There
is a mixed trend in the prices of edible oils in the domestic market, where the prices of mustard oil have opened 25 rupees higher, palmolein has weakened by Rs 8 and palm oil refined by Rs 5. On the other hand, prices have opened higher in Chicago. Hence, there can be a slight increase in the prices of edible oils in the domestic market.
Soyabean prices have stabilized in the producing markets. According to traders, daily arrivals of soyabean in the domestic producing markets have remained the same, while the plants are buying only as per the requirement. In such a situation, a slight improvement can be made, but there is no possibility of a big rise. Soybean and soya oil and meal have risen in Chicago.
Castor seed prices in Gujarat have stabilized at Rs 1,100 to Rs 1,120 per 20 kg, although the demand is weak.
Cotton prices have risen in the domestic market. Cotton prices have opened high in the foreign market today, and prices closed higher on Tuesday as well. However, cotton exports from the domestic market do not seem to be affected, and the local demand for yarn is also weak. Despite this, the rise or fall in its prices will depend on the price of ICE cotton futures.
There is an improvement in the prices of cottonseed and cotton cake, according to traders, selling at lower prices is weak, so a slight improvement can be made in the current prices. Anyway, due to the decrease in daily arrivals of cotton in the producing markets, the sales of oil mills are also weak. Therefore, there is no possibility of much slowdown in prices.
There was a slight improvement in guar seed and guar gum, but traders are not in favor of a big rise in their prices right now. However, stockists want to increase the prices. Export demand for guar gum products remains normal and the plants have high outstanding stock. Monsoon rains are expected to be normal in the current season. Daily arrivals of guar seed have decreased in the producing markets as compared to earlier.