Commodities

Dwindling stock leads to pulse buying spree

Our Correspondent Indore | Updated on March 12, 2018 Published on July 13, 2012

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Weak arrival and strong buying support lifted masoor, chana and urad prices in local mandis. With domestic stock on the verge of getting exhausted and increased dependency on imported pulses, stockists have gone on a buying spree. A leading to steep rise in masoor prices in the past one week resulted.

As against Rs 3,600-Rs 3,625 a quintal last week, masoor (bold) prices in local mandis on Friday zoomed to Rs 3,700-Rs 3,725 a quintal, while masoor (medium) perked up to Rs 3,400-Rs 3,425 a quintal. Besides a steep decline in domestic stock, the complete absence of monsoon in the region for the past few days has also added to the bullish sentiment in masoor.

Traders expect masoor prices to go up further higher by Rs 200 a quintal in the coming days. Improved queries and buying support have also lifted masoor dal with masoor dal (average) moving up to Rs 4,100-Rs 4,125 a quintal (Rs 4,050-75), masoor dal (medium) at Rs 4,225-50 a quintal (Rs 4,175-Rs 4,200), while masoor dal (bold) ruled at Rs 4,350-Rs 4,400 (Rs 4,300).

The uptrend in chana also continued on slack arrival and strong buying support from the millers with chana (kanta) going up to Rs 4,850-75 a quintal (Rs 4,800-Rs 4,825). Similarly chana (desi) rose to Rs 4,650-Rs 4,700 a quintal. The uptrend in chana in all likelihood will continue in the coming days as well and its prices may zoom past the Rs-5,500 mark in the coming days, said Mr Sanjay Bansal, a local pulse trader.

Buying support in spot chana and improved demand also perked up chana dal with chana dal (average) being quoted at Rs 5,875-Rs 5,900 a quintal (Rs 5,775-Rs 5,800), chana dal (medium) at Rs 5,950-75 a quintal (Rs 5,875-Rs 5,900), while chana dal (bold) ruled at Rs 6,175-Rs 6,200 a quintal (Rs 6,125-50).

Driven by strong buying support, chana dal in the past one week has gone up by over Rs 200 a quintal. Weak arrival and improved demand also lifted urad with urad (bold) in the local mandis on Friday moving up to Rs 3,850-Rs 3,900 a quintal, up Rs 100 as compared to its prices last week. Similarly urad (medium) also ruled high at Rs 3,000-Rs 3,300 a quintal (Rs 2,800-Rs 3,100 a quintal a week back). Urad dal however, ruled steady with urad dal (medium) remaining stable at Rs 3,900-Rs 4,000, urad dal (bold) at Rs 4,700-Rs 4,800, while urad mongar ruled at Rs 5,500-Rs 5,800 a quintal.

Published on July 13, 2012

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