Login ID:
Password:
Partner Login
Contact Us : 7066511911

Imported Urad Prices Decline In Mumbai, Up in Chennai, Steady In Kolkata

25 Jan 2020 2:05 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commodities control) – FAQ New and old Urad crashes Rs 125 to trade at Rs 6675 and Rs 6525 on Saturday, In Mumbai, amid lack of buying momentum and anticipation of additional imports by Government.

In Chennai, Urad FAQ and SQ ups Rs 50 to trade at Rs 7050 and Rs 7550-7600/100Kgs, respectively. While in Kolkata, FAQ urad was quoted flat at Rs 7200-7300, respectively.

Urad prices in last two trading sessions are down roughly Rs 225-275.

According to the market participants, near-to-zero demand is the reason behind dullness in price. Traders expect the lag to continue for next 2-3 days, during which prices are likely to be range-bound.

Bullish news, however, comes from the reports that supplies from the Urad belt, Madhya Pradesh, to South India has dipped 80-90%. Unseasonal rains in M.P, U.P and Maharashtra has destroyed the urad crop in the producing belts, which will result in acute shortage of domestic supplies.

Meanwhile, Government plans to extend urad dal imports of up to 4 Lk tonnes, in view of likely domestic shortages.

As per the investigation by Commoditiescontrol.com, Government will be required to make additional import allocations, post March, to keep up with the demand.

According to market experts, the annual consumption of Urad is about 24-25 Lakh tons. Some of this demand is taken care of through kharif produce of 14-16 Lk tons and 4 lk tons of Rabi produce. Rest of the quantity is imported.

However, this time around the output is likely to be halved. Despite adding the rabi produce, imports and the old stocks to the kharif produce, total supply turns out to be under 20 Lakh tons.

This will result in demand exceeding supplies in near to medium term.

Meanwhile, Urad market eyes Jaipur High Court’s hearing scheduled for Monday, 27th January.

(Commodities Control Bureau)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Balance Stock Of Pulses Under PSS With NAFED As On 25 F...
NAFED Procures Close To 7600 MT Chana In Rabi-2020 Seas...
NAFED Procures Over 160000 MT Tur In Kharif-2019 Season...
Urad FAQ Trades Higher In Chennai, Lower In Mumbai
Canada White Pea Moves Lower In Mundra/Kolkata Amid Wea...
more
Top 5 News
PunjabSugar Mill Prices 27 February 2020
Malaysia Rubber Physical Prices (Sen/Kg) 27 February ...
LME - Warehouse Stock Movements 27th February
Sugar (LIFFE) Pullback Underway / Retesting Support N...
Balance Stock Of Oilseed Under PSS With NAFED As On 25 ...
Top 5 Special Reports
USD/INR (Feb. 20) Short-term Strength Within a Multi...
USD/INR (Feb. 20) Positive Short-term Trend / Next R...
USD/INR (Feb. 20) Positive Short-term Trend / Next R...
USDMYR
USDCNY-CHINESE YUAN/USDIDR-INDONESIAN RUPIAH
Copyright © CC Commodity Info Services LLP. All rights reserved.