Sluggish trend continues in majority of pulses in Indore mandis for the past few days on slack demand and weak buying support from the millers at higher rate. Masoor (bold) prices which few days back had soared to Rs 4050 a quintal has declined by almost Rs 100 in the past three days.

Though mandis in Madhya Pradesh remained closed today on account of `Janmashtmi', in private trading masoor declined to Rs 3950-75 a quintal (Rs 4000) in absence of buying with both buyers and sellers remaining busy in the festivity of `Janmashtmi'. On the other hand, masoor (medium) ruled at Rs 3700-Rs 3750 a quintal.

Weak trading sentiment in masoor and other pulses has also been due to continuing rainfall in the state. However, as compared to its prices last week, masoor prices by and large have remained stable. Despite sluggish demand, any major fall in masoor from its current prices level appears unlikely, given decline in domestic stock and stockists holding up imported masoor to get higher prices in the future, said a pulse trader here.

Masoor dal on the other hand remained stable with masoor dal (average) ruling at Rs 4400-Rs 4425, masoor dal (medium) at Rs 4475-Rs 4500, while masoor dal (bold) ruled at Rs 4575-Rs 4600 a quintal. As compared to its prices last week, masoor dal is ruling Rs 50-Rs 100 higher.

On the other hand, notwithstanding slack demand and weak buying support for the past couple of days, moong and its dal continues to rule stable with moong (best quality) in Indore mandis in private trading being quoted at Rs 5400-Rs 5600, while moong (medium) ruled at Rs 4600-Rs 4800 a quintal.

Similarly moong dal notwithstanding slack demand ruled flat with moong dal (medium) being quoted at Rs 6400-Rs 6500 a quintal, moong dal (best) - Rs 7000-Rs 7100, while moong monar ruled at Rs 7500-Rs 7700 a quintal. Given poor crop output and delay in arrival of the next crop, bearish sentiment in moong in near future appears unlikely.

(This article was published on August 10, 2012)
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