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Sluggish Offtake, Fresh Supplies Weigh On Burma Urad At Closing Session In Chennai/Mumbai

20 Feb 2020 6:39 pm
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MUMBAI (Commoditiescontrol) – Burma Urad FAQ variety ended lower by Rs 50/100Kg, at Mumbai pulses market, on Thursday.

Similarly, Urad FAQ/SQ varieties fell by Rs 50-150/100Kg at Chennai market. Sluggish offtake in Urad dal/gota variety and fresh supply of nearly 400-450 containers (each container = 24 MT) from overseas, continues to weigh on prices.

Market is observing caution in ready trade at prevailing rates, tracking weak prices in forward deals in Chennai, new domestic arrivals in Andhra Pradesh (Srikakulum district) and upcoming arrivals from Prakasham/krishna district soon.

Meanwhile, Jaipur High Court postponed the hearing on pulses import restriction till March 6, 2020. The hearing is regarding non-issuance of Customs clearance to containers of urad imported against the stay order.

Jaipur High Court has given an option to the importers/DGFT to take their case to the Supreme Court.DGFT has moved to Supreme Court for the same. Importers have filed cases in various High Courts for stay orders. DGFT has requested High Courts to transfer all these cases to Supreme Court, so the hearing can happens at one place. If Supreme Court admits case for hearing, it will mean more time for the decision to take place.

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

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

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