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Burma origin Urad prices gain in Chennai/Mumbai on mill buying

30 Jun 2022 4:38 pm
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Mumbai, 30 Jun (Commoditiescontrol): Prices of, Burma Urad SQ variety at Chennai and Burma Urad FAQ at Mumbai moved higher on mills buying, they were procuring to fulfill immediate requirement for crushing, traders said.

Similarly, less ready stock, and lower imports due to price disparity as Rupee depreciated to 78.99 against US dollar, underpinned support.

Trends are seen emerging from sowing activity shows fall in acreage under pulses cultivation. While, the loss in acreage is due to delayed monsoon, the shift in acreage to other crops is seen due to better returns.

Though the monsoon has recovered in last few days, still recovery is not sufficient to make up for losses.

At Jabalpur, summer crop Urad traded lower by Rs 200 at Rs 6,500-7,300/100Kg, as per quality with increased arrivals of 8000 bags.

However, cautious buying from mills was witnessed at higher rates as in comparison to raw Urad's demand for processed Urad has not picked up. But, demand from HORECA (Hotel/Restaurant/Cafe) segment is likely to improve substantially.

Prices of polish-unpolish Urad priced weak by Rs 50/100Kg each at Guntur-Vijaywada mkts of Andhra Pradesh amid thin mills purchase at higher rates. On other hand, gota variety Urad gained Rs 200 to Rs 10300/100Kg at Guntur markets.

At Burma, Urad SQ-FAQ priced unchanged each at $1070 & $970 per metric ton on CNF basis.

Indian buyers remained on sideline as they were cautious purchasing Urad at higher rates.

India buyers have already purchase Urad FAQ-SQ varieties in the range of $800-$900 and $950-$1000 on FOB basis for July and hold stock in Burma itself.

Around 4,000 MT Urad has been traded for India in June month. Meanwhile, Monsoon is reviving and strengthening. The market participants will be closely watching the progress of Monsoon & sowing intention.

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

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

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