Spot, futures prices of pulses dip post-Diwali

Urad, chana and tur futures have fallen 5%, 12% and 20% respectively

Prices of urad, chana and tur futures have fallen about 5 per cent, 12 per cent and 20 per cent, respectively, since Diwali. The commodities' spot prices, too, have seen a declining trend, primarily owing to lack of demand.

Chana prices have declined mainly on lack of demand and expected increase in rabi production. In the spot market, chana prices have dipped to Rs 2,900 a quintal level from Rs 3,300 a quintal during Diwali.

The rabi acreage is estimated to go up from 11 lakh hectare last year to 16 lakh hectare, and there is a likelihood of good crop size. Rabi crop of chana is expected to arrive from January.

"Prices may remain low and could go down to Rs 2,300 a quintal level in the futures market by December and to Rs 2,600 in the spot market. Traders are showing little interest in buying because of the increase in acreage and the possibility of importing about one lakh tonne chana from Australia in December," a Karvy analyst said.

Post-Diwali, urad prices too have declined about 4-5 per cent "� both in the futures and spot markets "� owing to low demand from traders after the festive season as well as increased arrivals in Maharashtra's mandis.

The spot prices have fallen by about Rs 200 since Diwali to Rs 3,600 a quintal level. By November-end, urad futures might go down to Rs 3,200 level, he added.

Tur prices in the futures market have also crashed about 20 per cent since Diwali. On the National Commodity and Derivatives Exchange, tur futures for November delivery have slumped to Rs 1,853 a quintal from Rs 2,313 on October 20. Kharif tur crop is expected to arrive starting December.

"Tur will continue to trade in the Rs 1,850-2,000 a quintal range till the arrival of new crop in December," the analyst said.