Mumbai, 30 Apr 2024 (Commoditiescontrol): Urad prices in the Burmese market have fallen due to a combination of weak demand from India, government price controls, and shipping container shortages. Traders report that Indian importers are hesitant to make fresh purchases due to strict government vigilance aimed at stabilizing prices. Additionally, a shortage of containers in Burma is further hindering exports.
Burmese urad varieties experienced significant price drops in the Yangon market. FAQ urad declined by 15,000 MMK/Mt, and SQ urad fell by 35,000 MMK/Mt. CNF India trade prices in Yangon also decreased by $10/Mt, while Chennai resellers saw a $15/Mt decline for both FAQ and SQ varieties.
Reflecting these trends, domestic Burmese urad prices fell, with FAQ urad dropping Rs 25-100/quintal and SQ urad declining Rs 50-100/quintal across major markets.
Market analysts anticipate short-term stability in domestic urad prices. This is primarily driven by limited supplies resulting from reduced domestic production. The delayed arrival of the summer urad crop, expected in late May or early June, will further constrain supplies and bolster current price levels. Though weaker summer demand could offset the supply shortfall, analysts warn that future urad exports from Burma, and their pricing, have the potential to significantly impact the domestic market.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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