Mumbai, 09 Apr 2024 (Commoditiescontrol):Urad prices remained largely unchanged in the Indian domestic market today, following a prior upward trend. Mixed price movements were seen in the Yangon market, with a slight decline in SQ urad and a marginal increase in FAQ urad. CNF (Cost and Freight) India trade prices were stable.
Resellers in Chennai saw price drops, with SQ urad falling by $5/MT and FAQ urad decreasing by $10/MT. This is attributed to profit-taking by importers after prices rose recently.
Domestic market prices for urad held steady at higher levels across most of the markets. Desi urad prices were stable in both bilty and mandi trade, with minor price fluctuations in some markets due to localized supply and demand.
Market analysts anticipate some price correction for urad after the recent increase. Supply from Burma (Myanmar) is expected to rise in the coming days, as Indian importers have secured their positions ahead of the Burma market closure from April 12th to 24th.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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