One of the main reasons for the trend, according to Gupta, is that standing crops have received timely rains. As a result, crop prospects have further improved by at least 20-25 per cent as against the earlier expectation of heavy crop damages. Earlier, trading circles were expecting crop damages to push up prices of pulses by at least Rs 200-300 per quintal by March 99. Now that ``hope of price appreciation'' has receded, accordingto him.

On January 14, arhar whole was ruling between Rs 1,450-1,800 per quintal. Likewise, arhar dal (broken) ruled between Rs 2,700-3,000 per quintal. These prices are less by Rs 850 per quintal as compared with November 98 prices, according to DGMA president.

Urad (whole) ruled between Rs 1,400-1,750 per quintal and urad dal (broken) between Rs 1,800-1,950 per quintal. Urad January prices were less by Rs 200 per quintal as compared with November 98.

Moong (whole) ranged between Rs 1,300-1350 per quintal which was less by Rs 500 per quintal against November 98 prices. Chana (whole) was selling at Rs 1,200-1,225 per quintal in January which was less by Rs 250 per quintal, according to Gupta. This price decline trend can be noticed in all pulses, says Gupta.

On the contrary, DGMA executive member Ajay Kumar Gupta had predicted a massive price appreciation around March 99. A K Gupta had said around mid-December 98 that in 1998 ``there had not been more than 30 or 40 per cent of harvest in nearly everycrop''.

Therefore, ``by February-March, some supplies are expected but they are not going to be substantial going by the crop damage reports received so far'', A K Gupta had said. In December 98, he expected ``pulses prices to shoot up by Rs 300 to Rs 400 per quintal around march 1999. All major crops have failed'', he had predicted.

The DGMA president Shyam Sunder Gupta's latest version based on January 99 price trends seems to be reversing the prediction made by DGMA executive member A K Gupta in December 98.

Meanwhile, it may be recalled here that last week of December 1998 threw up bumper crop-like scenes in Delhi for at least groundnuts (with shells). Weather havoc may have affected some quality initially, but there was no shortage of production, according to wholesale traders, Sarda Ram Hari Ram Company, in Delhi's Lahori Gate market. Groundnuts (with shells) ruled between Rs 1,500-1,900 per quintal on towards end-December, 98.