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Burma Urad Weakens in Major Markets Amid Dull Demand

1 Jun 2020 7:22 pm
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MUMBAI (Commoditiescontrol) – Burma Urad remained weak by Rs 50-100/100Kg during early trade session at Chennai, Mumbai and Delhi on Monday, due to weak millers' demand amid dull offtake in processed Urad, and liquidity crunch.

On the other hand, Urad gained Rs 50/100Kg at Kolkata market amid selected mills buying against limited ready stock.

Overseas supplies at Chennai port and Rabi/Summer crop arrivals are pressurising buyer sentiments.

Moreover, Government reduces the deadline for Urad Import Annual Quota Of 4 lakh MT by 6 months to 31st August, 2020.

As per Burma based trader, India buyers were active in purchasing Urad and holding stock in Burma against deadline for Urad Import Annual Quota Of 4 lakh MT to 31st August, 2020. Direct vessel is expected on 6th June for India (Chennai) and Urad cargo will be loaded for India.

The Union Cabinet today approved minimum support price (MSP) for 14 kharif crops. Urad MSP was upped by Rs 300 To Rs 6000/Quintal.

Meanwhile, Supreme Court has handed over the case of pulses import to Jaipur High Court. This is nearly a year old case now. SC has ordered the hearing of the case to be conducted at Jaipur High Court, along with the decision to be announced within a month’s time.

However, Jaipur High Court Postponed Hearing On Pulses Import Restriction Till June 3, 2020.

On other hand, domestic Urad moved higher by Rs 50-200/100Kg at Veraval and Jalgaon mrket on millers buying activity.

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

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

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