Mumbai, May 05 (Commoditiescontrol): FAQ urad prices from Myanmar have stabilized, while SQ varieties have edged upwards. Within India, Burma urad experienced a general price increase due to improved demand at recently lowered prices. Quotes rose by Rs 50-100 per quintal across most markets. Mumbai was the outlier, with a Rs 75 per quintal decrease attributed to inferior quality by local traders.
Domestic Desi Urad prices remained largely flat following a period of volatility. Reduced supply has offset the impact of recent government efforts to influence the market. Arrivals in major markets were minimal, bolstering prices. New, limited-quantity arrivals in Rajkot commanded prices within the Rs 9,500-9,700 per quintal range.
Urad prices are likely to remain within a predictable range in the near term. Seasonal decline in summer demand is countered by continued tight supplies. Historically, the monsoon season's arrival next month has led to increased urad demand as temperatures cool. Price trends suggest an upward movement for urad between June and October. Although prices could remain steady for now, an upswing is anticipated next month unless unexpected selling pressure arises from Myanmar.
Spot Raw Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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