MUMBAI, April 15 (Commoditiescontrol): The week ending on 15th April 2022 saw a decline in the prices of Burma Urad. Market participants were cautious due to the pressure from central and state governments to disclose their stock on the government portal regularly. Moreover, the government hinted at regulating the price in case of any abnormal rise in pulse prices from the current level. As a result, stockists avoided making new purchases, while mills only made need-based purchases. This reduced the demand for urad, leading to a decrease in its price.
At the Mumbai market, the price of Urad dal rose by Rs 100, reaching Rs 9,900-10,700/100kg due to a need-based counter demand.
However, in Jalgaon, the domestic variety of Urad remained almost unchanged, trading at Rs 7,200-7,850/100 kg depending on the quality, with limited mills trade activity.
The new rabi Urad crop from the Krishna district declined for the second consecutive week in Vijaywada delivery, with prices falling by Rs 50 to Rs 7,575-7,600. Meanwhile, the price for Guntur delivery remained unchanged at Rs 7,550. The Branded Urad Gota variety remained relatively stable, trading at Rs 9,900/100Kg.
The Burma market will remain closed from April 8th to April 17th, 2023, in celebration of the Thingyan Water Festival.
As of April 14th, 2023, the latest update indicates that the India Summer Urad crop's sown area has increased by 5.79% compared to the previous year, now covering 2.74 lakh hectares.
Trend:Urad prices are likely to remain subdued in light of the government's strict directive to enforce stock declaration and take strict action against those who fail to do so. Market participants are cautious about stocking Urad or other pulses and are refraining from making new purchases.
Instead, they are focusing on liquidating their existing stock and making need-based purchases. Despite negative sentiments in the overall pulses market, Urad prices have not fallen significantly due to a lack of supply in the domestic market.However, the supply of new Urad crops from Andhra and Tamilnadu may keep prices under pressure in the near term.
Ultimately, the main factor that will determine the trend in Urad prices will be the pace of imports and the landed cost of Burmese Urad at Indian ports.
(By Commoditiescontrol Bureau; +91-9820130172)
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