Mumbai, 26 April 2024 (Commoditiescontrol):Urad prices in India's major markets are showing mixed trends, driven by a combination of demand, supply, and weather-related factors. In Central and Northern India's major wholesale markets, prices for urad continue to decline due to weakening demand for urad dal. Unusually high temperatures are suppressing the demand for processed goods. Conversely, urad prices in Southern India's key markets have remained stable for the third consecutive trading session, with limited supply in the region contributing to the stability.
In Myanmar, a key supplier of urad to India, prices have witnessed a slight uptick. FAQ (Fair Average Quality) urad increased marginally by 10000 MMK/Mt, while SQ (Superior Quality) urad registered a larger increase of 22000 MMK/Mt. Despite the recovery in Myanmar, resale prices in India are lower, and imported urad quotes in Chennai and Mumbai markets have declined by Rs 25-50 per quintal, suggesting muted demand even at current prices.
The National Food Security Mission (NFSM) report on 26th April showed a 5.1% decline in urad acreage, primarily driven by lower sowing in Madhya Pradesh and Bihar. This is partly attributed to delays in the wheat harvest, which has impacted urad planting. Continued delays could further postpone the urad harvest, potentially leading to crop damage if rains occur.
Analysts predict short-term stability in domestic urad prices due to the ongoing supply constraints resulting from lower domestic production. The arrival of the summer urad crop, expected in late May or early June, could further support price stability. However, the potential for increased urad supplies from Myanmar remains a key factor that could significantly influence domestic supply and prices in the near future.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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