Mumbai, 23 May 2024 (Commoditiescontrol): Urad prices witnessed a continued downward trend in Southern markets like Vijayawada and Guntur, sliding by another Rs 25 per 100 kg on Thursday. Local sources attribute this decline to profit booking, following a significant increase of Rs 500-600 per 100 kg over the previous week. However, stability prevailed in other markets across the region.
The arrival of summer/new crops was notably lower, primarily due to the closure of most markets in Madhya Pradesh. In Uttar Pradesh and Gujarat, prices dipped by Rs 100-200 per 100 kg, ranging between Rs 8,500 and Rs 9,000. According to local traders, the quality of summer Urad remains commendable.
The Madhya Pradesh government's Urad procurement initiative, open for registration from May 20th to June 5th in 10 key districts Jabalpur, Katni, Narsingpur, Damoh, Chhindwara, Panna, Mandla, Umaria, Seoni, and Balaghat , is expected to support prices in the near future. However, the current harvest season could exert downward pressure on prices, although significant drops are unlikely due to limited supply and government procurement.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
