Pulses Report
Chana Report: Last week, the market opened on Monday at ₹6675/6700 per quintal in Delhi-Rajasthan Jaipur and closed at ₹6600/25 on Saturday evening. During this period, Chana prices saw a decline of ₹75 per quintal due to weak demand in Chana Dal and Besan. For the past four to five weeks, Chana prices have been on a downward trend. The weak demand in Chana Dal and Besan has put pressure on Chana prices. The import of cheaper Australian Chana and uncontrolled import of peas has contributed to the weakness in prices. In Karnataka, the arrival of new Chana has started, and this is expected to gradually increase, although the crop this year is expected to be around 10% lower. New Chana arrivals in Maharashtra's Marathwada will begin in the next 15-20 days, and in Vidarbha, arrivals will increase by the end of February. Bulk shipments from Australia are consistently reaching India, and it is expected that 8-10 lakh tons of Australian Chana may be imported by the end of March. Considering the weak demand for Chana Dal, the good import of Australian Chana, peas imports, and the upcoming new domestic crop, it is advisable to conduct business in Chana according to necessity. Kabuli Report: Last week, the market opened on Monday at ₹14300 per quintal in Indore (new 40/42) and closed at ₹13900 on Saturday evening. Due to weak demand, Kabuli Chana prices fell by ₹400 per quintal during the week. The prices of Kabuli Container (42-44) in Indore dropped by ₹1000. The export of Kabuli Chana is limited, although the prices of Indian Kabuli Chana are attractive in the international market. Domestic demand is sufficiently covered, but Ramadan demand may emerge next month. According to experts, the sowing of Kabuli Chana in the Nimad region has decreased this year, although the weather is favorable for the crop. The technical trend of Kabuli Chana remains weak, and the market has shown a decline of ₹3000 from its seasonal highs, including a ₹1000 drop in just one week. This price drop clearly reflects a lack of demand in the market. While Ramadan's domestic and export demand could boost Kabuli Chana prices, the market remains weak for now. Until there are signs of good buying activity, it is recommended to limit trading. Masoor Report: Last week, the market opened on Monday at ₹6600/25 per quintal in Katni and closed at the same level on Saturday evening. During the week, the Masoor market showed a mixed trend due to limited demand for both Masoor and Masoor Dal. The weak arrival of domestic Masoor has provided some support to prices. The sowing of Masoor is reported to be 2% lower, with experts estimating a 10-15% reduction in sowing in Madhya Pradesh. The government holds a large buffer stock of Masoor, but the current stock available for sale is limited. Domestic Masoor stock is weak, and limited selling of imported Masoor has contributed to good demand. The Katni Masoor market has been trading in the range of ₹6600-6800 for the past 3-4 months. There is limited expectation for a major bullish or bearish move in the short term (2-4 weeks). The yield of Masoor in Madhya Pradesh will be crucial in determining the future trend. If Masoor prices rise, the government has sufficient stock to control prices. Tur Report: Last week, the market opened on Monday at ₹7700/7800 per quintal for Akola Tur (new Maruti) and closed at the same level on Saturday evening. Due to limited demand for Tur Dal, the prices saw a decrease of ₹200-400 during the week. In Chennai, the price of Lemon Tur fell by ₹300. However, there was some strength in African Tur due to better demand. In Karnataka, the quality of new Tur is average, which has led to a lower Tur Dal yield. As a result, millers are purchasing higher-quality Tur at higher prices. Farmers in Karnataka are not eager to sell Tur at lower prices, creating difficulties for millers. The registration process for Tur MSP purchasing has started in Karnataka, and the buying process is expected to begin soon, which may support prices. We believe that the new Tur from Vidarbha-Marathwada will be in demand from Karnataka millers due to the higher prices and average quality of local Tur. If Vidarbha Tur pressures the market, millers may start buying in good quantities. If Tur in the market comes in the range of ₹7000-7200 for high-quality Tur, stockists may also become active. We believe that this year's Tur supply will be sufficient to meet demand throughout the year, so there is no need to rush to stock up. We expect limited bullish movement in Tur over the next 2-3 months, so it is better to purchase Tur as per requirement. Moong Report: Last week, the market opened on Monday at ₹7200/8000 per quintal in Delhi Best Moong Raj Line and closed at ₹7900/8025 on Saturday evening. Moong prices saw a rise of ₹25 per quintal due to sustained demand. After three weeks of price increases, demand became limited. Private stocks of Moong are very limited, and there is no major crop expected soon. This year, farmers in Maharashtra, Karnataka, and Rajasthan sold Moong quickly. While the Kharif Moong crop in Maharashtra and Karnataka was good, it was lower in Rajasthan. The government also has limited stocks of Moong in its buffer stock. This is why Moong prices have risen by ₹800-1000 in the last four weeks. The next major Moong crop is expected to arrive in May. For the next 2 months, Moong prices are likely to stay strong with some fluctuations based on demand. Urad Report: Last week, the market opened on Monday at ₹8275 per quintal for Chennai SQ and closed at ₹8200 on Saturday evening. Urd prices saw a decline of ₹75 per quintal due to limited demand, marking the fourth consecutive week of weakness in prices. The continuous selling from Burma has heavily impacted demand. Domestic Urd availability from Andhra Pradesh, Tamil Nadu, and Telangana is also affecting demand. Urd prices are weaker in the market due to substantial imports from Brazil, with some imports from Thailand as well. The market for Urd has become more difficult due to lower demand in the spot market and cheaper forward contracts. Currently, Chennai Urd has strong support at ₹8200, with the next support level at ₹8050. For a bullish trend, prices need to rise above ₹8800. We believe that unless stability returns to the Urd market, it is better to conduct business as per necessity.