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Domestic Urad Weakens At Selective markets

12 Dec 2019 9:25 pm
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Mumbai (Commodities control) – Domestic Urad continued to trade weak at selective markets on Thursday as per quality due to slow millers buying support against ongoing arrivals.

On other hand, Burma Urad pared early losses during closed at Mumbai amid shortage of ready stock and fresh mills buying at lower rates.

Similarly, Urad SQ variety moved higher by Rs 100/100Kg in ready deals at Chennai on fresh low level mills buying activity.

Customs is yet to issue clearance to containers of urad which was imported against the stay order. This matter is already in Jaipur High court and next hearing will take place on 16th December.

Another reason behind the firmness of price is the scarce arrival of good quality Kharif Urad; Average quality of domestic crop adds to the dependence on imported variety.

Although, demand and sale counter in processed Urad reported thin participation at prevailing rates.

Arrivals of new Urad witnessed at Rayalseema, Kurnool and krishna district in Andhra Pradesh. Commodity was traded weak for Guntur delivery at Rs 7,800/100Kg.

Balance stock with Nafed under PSS as on 10 December 2019 is around 198528.78 MT.

As on December 10, 2019, NAFED has successfully procured 40.40 MT of Urad at Minimum Support Price of Rs 5,700.

Spot New Raw Black Matpe ( Urad) Prices In Key Indian Markets:

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

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