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Domestic/Imported Variety Urad Declines At Major markets

11 Dec 2019 9:10 pm
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Mumbai (Commodities control) – Domestic Urad declined at major markets on Wednesday as per quality due to slow millers buying support against ongoing arrivals and following weak trend in imported Urad.

Buying from Wholesaler/retailers in Urad dal witnessed slack at higher rates as they were getting resale Urad dal at lower rates due to liquidity crunch.

Similarly, Burma Urad also slipped at Mumbai, Chennai and Delhi pulses market, as millers were less interested in purchasing at prevailing rates amid liquidity crunch and slower offtake in processed Urad.

Prices of Urad moved higher in early session at Mumbai on the report from a news agency that the government may give fresh quota for Urad and Moong to millers.

Reacting to this news the market has gained in Mumbai and Yangon market but the Chennai market remained weak.

This, however, is at the moment only a representation by the trade bodies. The government is still contemplating allocation of fresh quota. This is evident from the fact that customs is yet to issue clearance to 220 containers of urad which was imported against the stay order. This matter is already in Jaipur High court and next hearing will take place on 16th December.

As per trade sources despite crop failure in Urad, there is currently sufficient supply of domestic and imported Urad and this can be seen from the fact that Urad has corrected sharply from recent highs. Government may issue fresh quota, but not at this stage. If government issue fresh quota it will hurt farmers due to ongoing domestic arrivals and prices are already trading above MSP. Government may issue quota only in case of scarcity in Urad after ends of domestic arrivals in market. Market will keep an eye on the development.

Arrivals of new Urad witnessed at Rayalseema, Kurnool and krishna district in Andhra Pradesh. Commodity was traded weak for Guntur delivery at Rs 8,000-8,050/100Kg.

As per market talk, strong rumour in the market reported regarding government may impose stock limit on Urad due to price rise. But, current kharif urad crop is less as it is damaged due to unseasonal rain and also no carryover much stock reported in hands of private traders and government.

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

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

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