Mumbai, 10 Apr 2024 (Commoditiescontrol):Urad prices have shown minor gains in select markets, following a bullish trend within the overall pulses market. This upward movement is attributed to a slowdown in Rabi pulse arrivals after the Holi holidays.
The Burmese market exhibited stability ahead of the Water Festival holiday closure, with a notable exception FAQ urad prices increased by 35000 MMK/Mt. CNF India trade prices for urad held steady in Yangon and Chennai reseller markets.
Within the domestic market, Burma urad prices experienced marginal increases in Chennai and Mumbai, while remaining steady in other markets. Desi urad prices held firm in both bilty and mandi trade. Chanusi saw a gain of Rs 100/quintal in bilty trade, while Lalitpur gained Rs 100/quintal in mandi trade. Urad mogar prices in Gulbarga rose by Rs 100/quintal.
The Burmese market closure from April 12th due to the Water Festival led Indian importers to cover their requiremnts earlier in the month, contributing to higher urad prices both in Burma and India. As these purchases arrive at Indian ports, supply pressure is expected, potentially leading to a correction in the ongoing price rally. Additionally, rising temperatures may decrease urad demand, further limiting significant price increases.
Spot Urad Prices In Key Indian Markets:Urad prices:
(By Commoditiescontrol Bureau; +91-9820130172)
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