Mumbai, 04 Jul (Commoditiescontrol): This week has seen a mixed trade for Urad. After moderate gains earlier, prices in Burmese markets have dropped by K30,000 per MT for both SQ and FAQ. In contrast, CIF and resale prices remained stable after an increase yesterday. Sources indicate that average demand is putting pressure on prices in imported markets.
In the domestic market, Burma Urad prices declined due to limited demand and consistent supplies from Burma.
In major consumption centers in the south, such as Vijayawada and Guntur, desi urad prices remained steady second session following a recent drop. Strong demand after recent price corrections has supported prices despite market oversupply. All expenses paid or bilty deals saw steady price tone, indicating sluggish buying activity for now. Buyer may be opting for caution, waiting to asses kharif crop condition, particularly of pulses.
In domestic markets, Urad prices are expected to remain supported by strong demand at lower levels. As summer arrivals decline, the seasonal increase in demand is likely to drive Urad prices higher moving forward.
Spot Raw Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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