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Govt Slashes Deadline For Urad Import Annual Quota By 6 Months

23 May 2020 11:05 pm
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MUMBAI (Commoditiescontrol) – Govt reduces the deadline for Urad Import Annual Quota Of 4 lakh MT by 6 months to 31st August, 2020.

It is to be noted that Government, on 17th March, had announced Urad import quota of 4 Lakh MT. The deadline for the import of this urad was set as 31st March 2021.

So far the additional quota of 2.5 Lakh MT of Urad for 2019-20 is yet to be imported. Due to trade restrictions and pandemic-led lockdown millers requested for extension in the deadline, which has been extended to 31st May.

Experts beleive that if the entire allocated quantity of Urad is imported, then the supply of 4 lakh tonne Urad will be seen in next three months. Meanwhile there is ongoing supply of summer and rabi crop in India. This is bearish for Urad prices in near term. On the other hand, it may be positive for urad prices in Burma.

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

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