Pulses drop as buying slows

Pulses and pulse seeds continue to trade lower in Indore mandis on sluggish demand both from the millers and retailers. Traders however, attribute sluggishness in pulses to speculators who for no rhyme and reasons, cause decline or hike pulse prices at their own accord, thereby causing crisis for the common traders. According to a pulse trader Mr Bimal Jain, the speculators had created panic in the market last month by spreading the rumour of damage to chana, tur and other crops due to frost and chilly weather.

As a result of this, both pulses and pulse seeds witnessed a boil with prices of majority of pulse seeds registering a hike of Rs 200-Rs 7000 per quintal. With rise in demand and apprehending further rise in pulses, both the stockists and the millers had gone on buying spree and increased their stocks of pulses and pulse seeds. However, after some days, the demand for pulse seeds and pulses decline at higher rate, thereby causing sluggishness in the market.

In the past two days, chana and its dal have declined by Rs 50. As the arrival of new chana in the mandis has gained momentum, chana prices in the futures have tumbled. On Monday, chana's February, March and April contracts witnessed a circuit. As a result of this chana prices in the spot declined by Rs 50. On Tuesday also chana prices remained steady at Rs 2500 a quintal on weak demand. Chana dal has also witnessed a corresponding decline in its prices with chana dal (bold) in the spot quoted at Rs 3200, down Rs 50, chana dal (medium) - Rs 3100 and chana dal (average) quoted at .

In the past two days, tur has also declined by Rs 75-Rs 100 on continuing weak demaned. Tur in the spot on Tuesday quoted at Rs 4050 a quintal, while tur dal (marka) declined by Rs 200 in the past two days at Rs 6500-Rs 6600 a quintal, while tur dal (full) quoted at Rs 6200 and tur dal (sawa no.) quoted at Rs 5600-Rs 5700 a quintal respectively. Lack of buying support also kept urad steady at Rs 4000 a quintal, while its dal declined by Rs 100. In the spot, urad mongar quoted at Rs 5800-Rs 6500 a quintal, while urad dal (bold) quoted at Rs 5800 and urad dal (chilka) quoted at Rs 4800-Rs 4900 a quintal.

Masoor and its dal has also declined by Rs 50 on poor buying support from the traders and steady arrival. Masoor in the spot quoted at Rs 3150-Rs 3175 a quintal, while masoor dal (bold) quoted at Rs 3900 and masoor dal (medium) quoted at Rs 3700-Rs 3800 a quintal. Moong and its dal also continue to witness sluggishness due to poor demand. In the spot, moong quoted at Rs 4800 a quintal, while moong mongar quoted at Rs 6500-Rs 6600, moong dal (bold) quoted at Rs 6200 and moong dal (chilka) quoted at Rs 5600-Rs 5700 a quintal. In the past 2-3 days moong dal has declined by about Rs 200.

Traders hope that demand in pulses will revive in a week's time.