Faiyaz Hudani at Kotak Commodity Services feels that the pulses market will come under increasing pressure as arrivals pick up in the days to come. Sowing of pulses, especially chana, has been very good in India and weather has also been favourable. Imports are also seen to be higher. Naturally, prices will decline as the commodity arrives in the market in large volumes, he added.
The ministry of agriculture had forecasted a bumper chana output for the 2012-13 season at 8.57 million tonne, up 11% from the 2011-12 final estimate of 7.7 MT. Imports of pulses increased to 2.3 lakh tonne during January 2013 as against 1.8 lakh tonne in December 2012, Faiyaz said.
Latest govt estimates speak of a bumper production in chana. Acreage is good for pulses, yield is good and imports are also on the higher side. The market is estimated to remain weak, Vedika Narvekar, senior research analyst at Angel Commodities, said.