OfBusiness Pulses Dailies

9^th June’23

Price

• Chana prices in Delhi’s market remained unchanged from yesterday, with the RJ line at Rs. 5125 per quintal and the MP line at Rs. 5150 per quintal.
• The masoor prices in the Delhi market opened and stayed steady at Rs. 5925 per quintal, unchanged from yesterday’s prices.
• Moong prices witnessed a rally, with the 3 kg and 5 kg Mogar varieties experiencing a rise of Rs. 25 per quintal. Trading for the 3 kg variety started at Rs. 7,550 per quintal, while the 5 kg variety began at Rs. 7,475 per quintal.
• In the Chennai imported pulses market, Tur prices slightly dropped, with the Lemon Ready variety opening at Rs. 10150 per quintal. On the other hand, urad prices showed an upward trend, with the SQ Ready variety selling at Rs. 8900 per quintal and the FA Q Ready variety selling at Rs. 7950 per quintal. Both urad varieties witnessed a price increase of Rs. 150 and Rs. 125, respectively.

Demand and Supply

• The elimination of the procurement limit for Tur and urad by the government has not resulted in the desired impact on the demand-supply dynamics of these commodities.
• The trading of Tur and urad remains unpredictable as a result of the unstable supply of these commodities, leading to price volatility in the market.
• In contrast, the demand-supply dynamics of Chana have remained stable in the past week, resulting in price stabilization in major markets.

News

• Lentil prices from imports experienced a decline in trading activities in Kolkata and Kanpur. This can be attributed to lackluster demand coupled with ample stocks available in the local market and ports.
• The Tamil Nadu Pulses Importers and Exporters Association (TNPIEA) has written to the Ministry of Commerce and Industry, urging them to extend the stock holding limit for Tur and Urad to a minimum of 90 days from the current 30 days.
• Desi Peas prices in the market have remained steady due to sluggish trading. It is anticipated that the prices of Peas will fluctuate within a range of INR 100-200 per quintal in the upcoming days, considering the stable condition of Chana.

OFB’s Opinion

• It is recommended to anticipate that the prices of Chana will maintain stability and remain at similar levels in major trading hubs like Delhi, as the demand-supply balance has remained consistent.
• It is advisable to anticipate that the prices of Tur and urad will continue to exhibit volatility, as the government’s attempts to control the prices have not yielded the desired significant effect.