Heavy Rains, Millers’ Demand Takes Urad Prices Higher

Mumbai (Commodities control) – Domestic Urad moved higher at major markets on Monday due to fresh millers buying support at lower rates, despite ongoing arrivals. A firm trend was noticed in imported variety, as well.

Burma origin Urad gained at Chennai, Mumbai, Delhi and Kolkata markets due to active demand by the millers at lower rates on immediate crushing requirements. This happens in the backdrop of the arrival of Kharif Urad failing to gather pace, even as the quality is unsatisfactory.

Meanwhile, heavy rains in Tamil Nadu, Andhra Pradesh and a flood alert issued by the MET Department supports the price. The new crop is likely to arrive in Tamil Nadu next month and it’s the harvesting period of Urad in Andhra Pradesh.

Forward outstanding trades for November delivery contract is nearly squared off. While, the fresh buying momentum is witnessed by speculators and stockiest at lower rates in the market, as they believe the supplies will be insufficient to meet the domestic demand if the local crop fails.

However, buyers were cautious at higher rates due to slower off-take in processed Urad. Liquidity crunch, and overseas supply, along with arrival of domestic Urad in various districts of Andhra Pradesh may keep a check on rising prices.

Balance stock with Nafed under PSS as on 28 November 2019 is around 199787.78 MT.

Spot New Raw Black Matpe ( Urad) Prices In Key Indian Markets:

Spot Old Raw Black Matpe ( Urad ) Prices In Key Indian Markets:

Following Are The Rates Of Non-Branded Split Black Matpe (Urad Dal) In Various Indian Spot Markets:

Following Are The Rates Of Branded Split Urad (Urad Dal) Traded At Mumbai APMC Market:

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