This year, the government is struggling to create a buffer stock of pulses. The government makes a buffer stock of 1.5 million tonnes of pulses every year, but this year all pulses are selling well above the MSP. In retail, prices of tuar, mung and urad pulses are running above Rs 100 per kg.
In fact, farmers are selling pulses in the open market due to higher prices. As a result, the government is not getting pulses back for stock. The government has so far been able to create a buffer stock of only 3 lakh tonnes whereas the government produces a buffer stock of 1.5 million tonnes every year.
Let us know that pulses are purchased at MSP but the market price of pulses is quite high. This is the reason that despite record production, the price of pulses is not lacking. Prices of tur, urad, moong dal have crossed Rs 100 per kg in the market, while gram dal has reached Rs 70 per kg.
All agri commodities except guar and castor are witnessing a boom. Mustard has strengthened around 3%. At the same time, there is strong buying in soybean and CPO. Coriander and cumin are trading on the edge.
Trading in Gold and Silver
Today, gold is traded in a limited range but silver has increased due to strong industrial demand. MCX is seeing more than 1 percent rise in silver. At the same time, the shine of the metal is still intact. LME Copper is trading at an 8-year high. At the same time, Copper has created a new life time high on MCX. Zinc, nickel and lead are also shopping strongly.
Crude oil boom
Even after the 5% gain of the previous week, there is a strong rise in crude today. Brent has crossed $ 63. There is support from increasing demand and continuous increase in rig count in the US.
Investment advice by SMC Global’s Vandana Bharti
BUY CHANA MARCH 4600 TGT 4720 SL 4550
BUY CASTOR MARCH 4415 TGT 4500 SL 4390
BUY CORIANDER APRIL 6600 TGT 6675 SL 6565
Investment advice by Prathamesh Mallya of Angel Broking