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Urad Settles Lower In Chennai/Mumbai;Wait-Watch Mode Until High Court Hearing

20 Jan 2020 5:59 pm
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MUMBAI (Commodities control) – Urad FAQ and SQ varieties slipped during their closing session on Monday, in Chennai. While FAQ Urad lost Rs 50 to settle at Rs 7350, SQ variety ended Rs 100 down at Rs 7950.


Following in the footsteps, FAQ New Urad and old urad were stripped off Rs 50 to settle at Rs 7025-7050 and Rs 6900, respectively, in Mumbai.

Dip in all pulses across major markets dulled sentiments for urad as well. Urad prices opened steady in the anticipation of support by the postponement of Jaipur High Court’s hearing. The hearing has now been scheduled for 27th January 2020.


Traders see market in wait and watch mode for the week. This will keep prices in a range for the week

Last week, domestic Urad prices were mostly quiet due to weak buying, despite decreasing arrivals.


Buyers are making careful purchases at prevailing rates. Even in processed Urad trade activity is reported to be muted.


As per trade source, prices of Urad are likely to be supported from a steep fall due to lower output, declining arrivals. Also the supply of Urad from Burma, under quota, is unlikely to touch Indian port before March end.


(Commodities Control Bureau)


       
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