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Burma Urad Settles Weak In Mumbai/Chennai; Domestic Variety Mixed

25 Sep 2020 6:02 pm
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MUMBAI (Commoditiescontrol) – Burma Urad settled weak by Rs 100-200/100Kg in Chennai and Mumbai on Friday.

Cautious trade was reported in Urad 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.

Moreover, FCI will commence the auction of old procured Urad 2018-19 around 3,585 MT in Maharashtra and 451 MT in Andhra Pradesh from Monday throuh NeML.

Urad prices had moved higher last fortnight because of damage to the standing crop on account of continuous rains, fresh hike in the MSP by the government despite report of higher kharif output in the country this year and record production estimates.

India 2020-21 Kharif Urad Sowing is up 1.14 %, as On September 25, At 38.96 Lakh Ha Vs 38.52 Last Year.

On other hand, new/old domestic variety Urad traded mixed, as per quality at major markets on mills' buying on immediate requirement for crushing against ongoing arrivals. Yield and quality of Urad affecte due to rain. Moisture content was noted to be higher in new Urad arrivals.

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

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



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


       
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