Mumbai, 16 May 2024 (Commoditiescontrol): Strong demand from exporters fulfilling their commitments has driven a rise in urad prices in Myanmar. Urad SQ prices increased by 10,000 Kyat per metric ton (MT), while FAQ prices held steady. Robust demand, driven by upcoming export obligations, is bolstering spot market rates.
Similarly, India's demand in CNF (Cost and Freight) India trade has led to a $5/MT increase for both Urad SQ and FAQ varieties. Gains in the reseller market for CNF India trade in Chennai were even more pronounced, due to strong domestic demand for Burmese urad.
In commercial transactions, the pricing of Urad Best Bold ranged from Rs 8800 to Rs 9200 per quintal. Medium-quality urad was quoted at Rs 7000 to Rs 8000 per quintal, while light urad fetched prices ranging from Rs 3000 to Rs 5000 per quintal.
Resale quotes registered a $10–15 per MT hike, while CNF prices escalated by $5 per MT. In Chennai, local traders attribute rising prices to dwindling domestic supplies and heightened end-user demand.
Southern markets in Vijayawada and Guntur are experiencing reduced supplies and elevated bilty prices. Mandi rates in Rajasthan and Madhya Pradesh have surged, with local vendors attributing this to limited arrivals, which are sustaining prices.
It's probable that summer arrivals will spike significantly starting next week. A large drop is unlikely given the narrow pipeline. In addition, Madhya Pradesh's prices have dropped dramatically, so downside should be limited. Prices should stabilize and gradually move up once summer crop arrivals peak.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
