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Urad Moves Higher During Close In Chennai

19 Nov 2019 6:41 pm
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MUMBAI (Commoditiescontrol) – Burma urad FAQ/SQ variety moved higher during closed in ready deals at the Chennai market in Tamil Nadu on Tuesday due to fresh buying interest from millers at lower rates on immediate requirement for crushing as domestic arrival has failed to gather pace and quality is also not satisfactory. In this situation they have to depend on imported urad.

Urad SQ/FAQ varieties moved up by Rs 50-100 each at Rs 7,700/100Kg and Rs 8,450, respectively in ready delivery as per condition.

Speculators and stockiest were also active at lower rates in the market as they believe that supplies will not be sufficient to meet the domestic demand as the local crop has failed.

However, demand and sale counters in processed Urad reported slack from retail/wholesale counters as delivery from mills is going on in counters which were traded earlier as millers started crushing commodity.

Moreover, supply of Urad in containers from Burma is getting clearance by customs, further upcoming supplies in near future.

(By Commoditiescontrol Bureau: +91-22-40015513)


       
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