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Imported-Domestic Urad Extends Rally in Major Mkts

23 Sep 2020 3:49 pm
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MUMBAI (Commoditiescontrol) – Burma Urad extended rally by Rs 50-300/100Kg in Chennai, Mumbai, Delhi and Kolkata on Wednesday due to rains in producing areas, better mill buying activity against limited ready stock and no supply pressure from overseas markets.

Moreover, around 50% damage of Urad kharif report due to continues rain in producing areas, forecast of rain and cloudy weather has supported the prices. Recent rains already damaged crop, affected yield and the quality of Urad. Moisture content was noted to be higher in new Urad arrivals.

However, cautious trade was reported in Urad today at higher rates as 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.

Myanmar announced a stay at home order from 21st September onwards till 7th October, 2020 after daily increase in new cases of Covid-19, local Burma based traders said. But, it will not affect loading/unloading cargo at port. However, clearance will be slow.

Similarly, new/old domestic variety Urad also traded higher for third 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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