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Imported-Domestic Urad Extends Rise in Major Mkts

22 Sep 2020 4:27 pm
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MUMBAI (Commoditiescontrol) – Burma Urad extended gains by Rs 150-300/100Kg in Chennai, Mumbai, Delhi and Kolkata on Tuesday due to rains in producing areas, better mill buying activity against limited ready stock and no supply pressure from overseas markets.

Moreover, forecast of rain and cloudy weather has supported the prices due to fear of crop damage as kharif crop harvesting is going on. Recent rains already damaged crop, affected yield and the quality of Urad. Moisture content was noted to be higher in new Urad arrivals.

Myanmar announced a stay at home order from today onwards till 7th October, 2020 after daily increase in new cases of Covid-19, Burma based trader said.

Meanwhile, unconfirmed news is making rounds in market, that government will allocate quota to millers/refineries soon due to shortage of Urad.

If the government allocates quota or gives further extension, prices in Burma market will move higher and import parity would also be higher, in that case. Urad stock in Burma was reported around 2.5-3 Lakh tonnes approximately.

Similarly, new/old domestic variety Urad also traded higher for second straight day by Rs 100-300/100Kg, as per quality at major markets on mills' buying on immediate requirement for crushing against ongoing arrivals.

Southern and North Indian millers are actively purchasing good quality new Urad with lesser moisture content from Maharashtra.

Meanwhile, good offtake was witnessed in processed Urad.

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



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


       
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