Mumbai, 13 Mar 2024 (Commoditiescontrol):Urad prices in both Indian and Burmese markets continue to exhibit range-bound trading. For the past month, prices have fluctuated within a narrow band of Rs 200. In Mumbai, Burma FAQ urad has consistently traded around Rs 8700/quintal. This stability is attributed to robust domestic demand in India, countered by volatility in the Burmese market. Factors influencing Burmese volatility include currency fluctuations, increased new crop arrivals, and recent government warnings against speculative pulse trading.
Today, Burma urad FAQ prices declined marginally in the Burmese market, while SQ urad saw moderate gains. CNF India trade prices increased slightly.
Burma urad prices in India gained, mirroring gains in Burma CNF India quotes. Both FAQ and SQ urad in the Indian market traded with gains of Rs 50-100/quintal, while desi urad prices remained steady.
The range-bound nature of urad prices reflects the interplay between anticipated increased supply from Burma and rising domestic Indian demand due to seasonal and festival factors. The key trend in the near future will hinge on the pace at which Burmese supply enters the Indian market.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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