Mumbai, 27 Mar 2024 (Commoditiescontrol):Urad prices declined in domestic markets as trading activity slowed. Limited demand and anticipated increases in supply are contributing to the downward trend.
The Myanmar pulses market was closed in observance of Myanmar Armed Forces Day, and most North Indian mandis were also closed due to Holi. This closure created a temporary lull in trade.Imported urad markets weakened by Rs 25-50 per quintal due to low demand.
In major South Indian markets like Vijayawada and Guntur, urad prices fell by Rs 50-100 per quintal. With festive demand subsiding, prices are expected to remain under pressure in the short term. Market activity is anticipated to further decrease with the approaching financial year-end.
The Indian and Myanmar governments are working to discourage hoarding and speculation in pulses, which adds to the downward pressure on prices.
India's Urad summer acreage stands at 1.92 lakh hectares, representing a 27.2% increase compared to the previous year. Odisha and Madhya Pradesh are driving this growth with stronger sowing. Sowing in these states is ongoing, and acreage is expected to further increase.
With increased summer acreage and government efforts to curb hoarding, urad prices are likely to remain suppressed. Imports are also expected to rise as Indian importers fulfill their requirements ahead of the Burmese market closure for the water festival, which begins on April 12th.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
