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Burma Urad Firm in Chennai/Delhi, Domestic Variety Flat

31 Oct 2020 5:01 pm
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MUMBAI (Commoditiescontrol) – Burma Urad SQ variety in Chennai along with FAQ variety in Delhi, moved higher Rs 100/100Kg on Saturday due millers' purchasing imported Urad at prevailing rates, on immediate requirement for crushing, against limited ready stock and zero supply pressure from overseas markets.

However, demand in processed Urad was witnessed slow from consumption centers. Reopening of restaurants will support prices in near future.

On other hand, domestic variety Urad traded unchanged, as per quality, at selected markets amid limited mills' buying and ongoing arrivals.

However, trade activity was reported less today as major markets closed due to Valmiki Jayanti.

There's no arrival pressure of new crop yet. Arrivals of superior quality Urad is less as compared to average/damaged quality. Superior quality Urad traded at premium prices.

Sentiment are still under pressure as Government has taken several steps in cooling off rising prices by giving import quota, liquidating old procured stock and releasing buffer stock at subsidised rate to the states for retail sale.

As per the notification each eligible and verified importer shall be allowed to import 97 MTs approximately.

The government has enter into a five-year MoU with Myanmar for import of 2.5 lakh tonnes of urad.

As per market view, prices are likely to get support due to no overseas supply pressure, damage to yield and quality of domestic Urad, limited carry over stock with government/private traders.

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

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

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