Mumbai, 17 May 2024 (Commoditiescontrol): Urad prices in Myanmar local market continued to move up with SQ and FAQ prices increasing marginally by Kyat 5,000 per MT . CIF India and resale prices however remained unchanged.While in Chennai resell market CIF India price for SQ remained unchanged while FAQ prices moved up marginally.Local sources indicate that prices are stabilizing as export commitments are being met, though a slight correction might occur in the coming days.
Desi Urad in the domestic market is experiencing less supply and strong demand, driving up both mandi and bilty prices . In Rajkot, prices for new arrivals have also risen due to improved quality attributed to the current dry weather. Conversely, reports of rain in Madhya Pradesh suggest a potential delay in the summer urad harvest.
Prices are expected to trade within a range with a potential downward trend after the recent sharp recovery. The delay in the summer harvest due to wet weather is likely to maintain price stability, given the limited supply.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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