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Burma Urad Declines in Kolkata; Domestic Variety New Trade Firm

1 Oct 2020 4:16 pm
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MUMBAI (Commoditiescontrol) – Burma Urad FAQ variety declined for second straight day by Rs 100/100Kg in Kolkata market on Thursday due to lack of local mills buying activity.

On other hand, Burma Urad traded almost unchanged at Chennai, Mumbai and Delhi markets on limited mills buying.

Meanwhile, new Urad traded higher by Rs 100-200/100Kg, as per quality, in selected markets on mills' buying for immediate requirement for crushing and ongoing arrivals.

Moreover, no arrival pressure of new crop has been witnessed yet. Stockiest were active in purchasing good quality Urad.

Southern and North Indian millers are waiting on the sidelines for making purchases from Maharashtra.

Still cautious trade was also reported in Urad at existing rates as news is making rounds in market, that government will allocate quota to millers/refineries soon due to shortage of Urad. Also government agencies have commenced liquidating old procured stock.

If the government allocates quota or gives further extension, prices in Burma market will move higher and import parity would also be higher, in that case. Urad stock in Burma was reported to be around 2.5-3 Lakh tonnes approximately.

As per market view, prices are likely to get support at lower rates due to no overseas supply pressure, damage to yield and quality of domestic Urad, fresh hike in MSP by the government despite report of higher kharif output in the country this year and record production estimates.

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



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


       
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