Weekly Market Report: Pulses

PULSES: Select pulses prices rose for the third straight week on the wholesale pulses market on sustained buying by stockists and retailers for the current marriage and festival season against limited arrivals.

Market analysts said sustained buying by stockists and retailers to meet the marriage and festive season demand against restricted arrivals from producing regions mainly attributed to a rise in select pulse prices.

Urad and its dal chilka local remained in demand and advanced by Rs 50 each to Rs 4,150-4,700 and Rs 4,950-5,350 per quintal.

Malka local and best quality too maintained their upward trend and added another Rs 100 each to Rs 3,900-3,950 and Rs 4,050-4,150 per quintal, respectively.

In line with a general trend, gram, its dal local and best quality were strengthened further by Rs 75 each to Rs 2,525-2,550, Rs 2,825-2,840 and Rs 2,925-3,025 per quintal, respectively.

SUGAR: A downward trend developed in the wholesale sugar market during the past week as prices dropped nearly Rs 50 per quintal as fresh arrivals created adequate stocks position amid reduced offtake.

Market analysts said mounting stocks against slackness in demand, mainly pulled down the sugar prices. Reports of ample supply of sugarcane also put pressure on prices, they added. 

Sugar ready medium and second grade price quoted lower from Rs 3,125-3,225 and Rs 3,100-3,200 to conclude at Rs 3,100-3,200 and Rs 3,075-3,175, respectively, showing a fall of Rs 25 per quintal.

Mill delivery medium and second grade price also declined to Rs 2,850-3,000 and Rs 2,825-2,975 as compared to last week's close of Rs 2,875-3,040 and Rs 2,860-3,025, showing a loss of Rs 40 a quintal.

Among millgate section, sugar Thanabhavan and Dorala declined by Rs 50 each to Rs 2,930 and Rs 2,910 per quintal, respectively.

Sugar Asmoli dropped by Rs 30 to Rs 2,960 while kinnoni slipped by Rs 20 to Rs 2,980 per quintal.