Login ID:
Password:
Partner Login
Contact Us : 7066511911

Domestic/Imported Variety Urad Declines At Major markets

11 Dec 2019 9:10 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

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)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Cotton Complex Cotton No. 2 (COT) Initiating A Deep...
India's 2019-20 Daily Cotton Arrivals Up 45.1% Y/Y At 2...
Cotton Prices Tumble In Central, South India
Cotton Prices Fall Sharply In North India On Negative G...
India's Textile Exports Down 8% During April-November
more
Top 5 News
Most Pulses Settle Unchanged In Mumbai; Lentil, Urad En...
Spot Mentha Prices Remain Steady
Domestic Sugar Prices Down On Selling Pressure
Spot Turmeric Continues To Rule Stable
Spot Coriander Down At Guna On Sluggish Demand
Top 5 Special Reports
Urad Spot(Chennai INR): Bullish Breakout from a Base/ P...
Urad Spot(Burma USD): Appears Poised for More Strength/...
Mumbai Lemon Tur Spot: Consolidating in a Multi month R...
Akola Tur Spot: Weak Price Trend- More Downside Probabl...
USD/INR (Jan. 20) Prices Testing a Resistance Zone N...
Copyright © CC Commodity Info Services LLP. All rights reserved.