Mumbai (Commodities control) – Domestic Urad traded higher at selected markets on Wednesday as per quality following firm trend in imported urad and millers buying support at lower rates just to meet the requirement for crushing.
Similarly, Burma Urad moved higher at Mumbai, Chennai, Delhi and Kolkata amid millers' purchase, tight availability of ready stock of imported Urad and shrinking domestic arrivals.
Urad FAQ/SQ varieties traded higher at Burma amid fresh buying support from India (Chennai).
In Burma, around 200-300 containers of Urad been traded for India.Urad FAQ (2019) traded at $755-$770 per metric ton on FOB basis and SQ variety at $855-$870 per metric ton on FOB basis for India against the shipment condition after millers received licenses from Government. Approximately 70,000 tonnes has been traded against quota license for India.
Millers have been active in purchasing imported Urad for daily operations, due to inferior quality of domestic Urad.
Supply of Urad gota for Chennai from Uttar Pradesh/Madhya Pradesh was reported less compare to last year.
Moreover, some demand and sale counter in processed Urad was witnessed today at lower rates.
Tikamgarh origin Urad gota gained by Rs 200 at Rs 9,500-9,600/100kg for Chennai delivery and Rs 9,500/100Kg for Andhra Pradesh delivery as per quality.
Similarly, Guntur origin Urad gota in spot traded up by Rs 100 at Rs 9,800/100Kg.
Meanwhile, Jaipur high court has postponed hearing on pulses import restriction till February 10, 2020 for Customs clearance issue to containers of urad which was imported against the stay order.
DGFT allocated 139 tonnes of quota per miller, for a total of 2.5 lakh tonnes of Urad imports.
As per trade source, urad prices are likely to get further support from lower output, diminishing arrivals. Even the total supply of Urad from Burma, under quota, is unlikely to reach Indian port before March end due to delay in paper work.
Spot Raw Black Matpe ( Urad) Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-22-40015513)