Login ID:
Partner Login
Contact Us : 7066511911

Urad Closes Flat In Mumbai/Chennai On Likelihood Of More Imports, Postponed HC Hearing

21 Jan 2020 7:00 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commodities control) – Urad FAQ and SQ settled unchanged at Rs 7300-7350 and Rs 7900-7950, respectively, in Chennai. In Mumbai,FAQ New variety settled at Rs 7000/100Kgs, and FAQ old urad closed at Rs 6875, on Tuesday.

Urad marked flat opening across the major markets on this morning. FAQ variety of New Urad stood flat at Rs 7000-7025 and old variety at Rs 6900 in Mumbai. Chennai Urad, FAQ and SQ variety were priced at Rs 7350 and Rs 7950, respectively.

The government plans to extend urad dal imports of up to 4 Lk tonnes, for another three months till June this year, in view of likely domestic shortages.

IPGA has demanded the government for removal of quantitative curbs on urad as the country is likely to face a shortage of about 50% in production this year on account of damage to the 2019 kharif crop.

Last month, the commerce ministry raised the quota of urad import from 1.5 lakh tonnes to 4 lakh tonnes for the fiscal ending March 2020. Import was allowed to be undertaken only by millers and refiners.

So far, only 2 lakh tonnes of urad has been imported. The pulses situation was reviewed recently by the concerned ministries and a consensus has emerged to give time till June for undertaking the import of rest of the quota.

As per IPGA, country’s produce could dip by 50 percent to about 13-15 lakh tonnes of urad this year.

Traders expect a dip of Rs 100-200 in Urad prices, across varieties, in a fortnight from now.

Meanwhile, Urad continues to derive some supported from the postponement of Jaipur High Court’s hearing. The hearing has now been scheduled for 27th January 2020.

Market eyes Jaipur high court hearing on pulses import restriction for Customs clearance of urad container which was imported against the stay order. This Hearing has seen postponement since 19th December 2019.

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

   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
Comex Gold Near 2-Wk Crest On Confusion Over Virus Imp...
Precious Metals Silver (Mar 20) Requires a Breakou...
Precious Metals Gold (COMEX) Testing Key Resistance...
Comex Gold On Track For A Weekly Rise; Hits Record Hig...
Precious Metals Silver (Mar 20) Requires a Breakou...
Top 5 News
Soybeans Arrived At JNPT In January 2020
Raw/Processed Chana Extend Gain in Spot Markets
Spot Mentha Rallies On Low Level Buying
Domestic Sugar Prices Down On Sluggish Demand
Spot Coriander Remains Steady To Firm
Top 5 Special Reports
USD/INR (Feb. 20) Neutral Stance: Prices Consolidati...
Copyright © CC Commodity Info Services LLP. All rights reserved.