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Urad FAQ Trades Higher At Chennai

10 Aug 2018 2:20 pm
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MUMBAI (Commodities control) – Burma urad FAQ traded higher for a second straight day at Chennai market in Tamil Nadu on Friday amid better millers' buying support, expecting gain in prices ahead due to erratic rainfall even around 2500-3000 containers of pulse may arrive at Chennai port from Burma in August month.

However, millers who had got licence from the government to import will crush it only to meet their requirement and hence, imported urad is unlikely to arrive in the market.

Urad FAQ new variety traded firm by Rs 3,900/100Kg in ready delivery as per condition. While, SQ variety also traded flat at Rs 4,900-4,950/100Kg in ready delivery as per condition.

Urad SQ traded flat in forward business at Rs 4,950/100Kg for whole August and September delivery. 

Demand in processed Urad was reported thin from consumption centres.

According to market sources, prices of urad are likely to get support in the long-term amid concerns over acreage/area/quality and also on limited imports from overseas, compared to last year due to restriction imposed by the government.

Yesterday, key growing areas of Madhya Pradesh, Gujarat and Rajasthan received rainfall.

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

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