Pulses ruled steady in Indore mandis despite subdued demand, while chana declined on bearish futures, poor buying and weak arrivals. With the financial year coming to an end and traders busy filing tax returns, sluggishness has gripped the market.

Even after Holi , the holiday mood continues to pervade the local market. It will continue up to Rang Panchami (celebrated in Madhya Pradesh on the fifth day of Holi ) until when mandis across Madhya Pradesh will remain close. According to local traders, buying interest in pulses will continue to remain weak till the end of this month. Mandis will see fresh demand only during Gudi Pudwa , which falls on April 4.

Chana in local mandis on Tuesday opened at Rs 2,325-2,330 a quintal in the morning, but with lack of demand in the physical market, it slipped to Rs 2,300 a quintal in the evening. Chana ( desi ) quoted at Rs 2,250 a quintal and chana (mausmi) quoted at Rs 2,300-2,400, Rs 100 down in the past three-four days. On Monday, chana prices quoted at Rs 2,350-2,360 a quintal on improved demand.

However, on Tuesday, besides poor demand in physical market, decline in chana futures on the National Commodity and Derivatives Exchange also made the market sluggish. As compared to Monday, arrivals of chana in local mandis was weak with only about 2,000-2,500 bags being offloaded.

Chana dal also declined in the spot on weak demand. Chana dal (bold) in the spot quoted at Rs 2,950-2,975 a quintal, chana dal (medium) quoted at Rs 2,850-2,875 a quintal and chana dal (average) quoted at Rs 2,775-2,800 a quintal.

Masoor ruled at Rs 3,250-3,260 on weak demand, while masoor (medium) quoted at Rs 3,000-3,050 a quintal. On the other hand, poor inquiries dragged masoor dal prices in the spot by Rs 50. Masoor dal (bold) in the spot quoted at Rs 3,900-3,925 a quintal, masoor dal (medium) quoted at Rs 3,775-3,800 a quintal and masoor dal (average) quoted at Rs 3,675-3,700 a quintal.

With a decline in demand, tur (Maharashtra, white quality) fell to Rs 3,750 a quintal, almost Rs 100 down in the past four days. Tur (red) quoted at Rs 3,600 a quintal and tur (Nimari) quoted at Rs 3,200-3,400 a quintal.

Tur dal (marka) has also witnessed a corresponding decline on poor demand with its prices in the spot on Tuesday quoted at Rs 6,400 a quintal, tur dal (full) quoted at Rs 5,800-6,000 a quintal and tur dal (sawa no.) quoted at Rs 5,100-5,200 a quintal.

Moong and urad remained steady on limited demand. Moong (best quality) in the spot quoted at Rs 4,850, while moong (medium) quoted at Rs 4,000-4,300 a quintal. Moong (mongar) ruled at Rs 6,200-6,300, moong dal (bold) quoted at Rs 6,000 and moong dal (chilka) quoted at Rs 5,500-5,600 a quintal. Urad (best quality) ruled at Rs 4,000-4,100, urad (medium) at Rs 3,300-3,700 a quintal, urad (mongar) quoted at Rs 6,600-6,800, urad dal (bold) quoted at Rs 5,800-5,900 and urad dal (chilka) quoted at Rs 4,800-4,850 a quintal.

Related Topics
comment COMMENT NOW