March Pulse Market: Moong and Masoor Show Slight Strength, Arhar and Urad Remain Weak
The pulse market on March 17th showed mixed trends. While the prices of Arhar and Urad remained weak, Moong and Masoor experienced stability with slight upward movements. Moong prices remained mostly stable across most markets, though there was a lack of aggressive demand. In Indore, bold Moong was priced at ₹8,400, Jaipur at ₹7,400 for Chamko Moong, Jalgaon saw Karnataka line Moong at ₹7,900 to ₹8,800, Delhi saw Rajasthan line Moong at ₹6,000 to ₹7,600, and Akola at ₹8,000 per quintal. The supply of Moong continues from producing states, and the government is also selling from the central pool, which is preventing a sharp rise in prices. However, due to the limited availability of good-quality stocks in key markets like Rajasthan (Kekri, Kishangarh, Shekhawati, and Medata-Khatu), a mild price increase of up to ₹200 per quintal is expected in the coming week. Currently, the Moong market remains "range-bound," with limited fluctuations. The Masoor market showed slight strength, with domestic Masoor gaining ₹25 in Delhi, reaching ₹6,650, while Katni remained stable at ₹6,400. Imported Masoor prices remained steady, with Canadian Masoor at ₹6,000, Kandla at ₹5,650, Hazira at ₹5,700, and Australian Masoor at ₹5,850 per quintal. A major factor behind the rise in Masoor prices is stockists gradually building positions, as there is an expectation that the government may increase import duties, potentially making future supplies more expensive. On the other hand, international markets are expecting higher production, and domestic arrivals of the new crop are expected to increase, which may limit a one-sided price increase. The recent rise in the US dollar to ₹92 has made imports more expensive, weakening the chances of a significant price drop, with ₹6,300-₹6,400 seen as strong support levels. In terms of consumption, demand for Masoor dal remains strong in Bihar, Bengal, and Assam, providing support to the market. Overall, while the Moong market is seeing limited movement within a narrow range, the Masoor market shows less downside risk and a mild upward trend. Both commodities are expected to move forward gradually, rather than experiencing large price swings.