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Burma Urad price slid at Chennai, Delhi; Dull mill buying weighs

6 Oct 2022 6:21 pm
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Mumbai, 6 OCT (Commoditiescontrol): Price of Burma Urad slid lower at Chennai, Delhi on dull mills buying as offtake in processed Urad was slack, traders said. Further, regular overseas supplies at Chennai port and arrival of new kharif Urad at producing belt, seen adding pressure. Currency cues too remain negative for the commodity. India's Rupee continued to weaken against the U.S. dollar. Rupee depreciated to 82.12 against USD, making imports costlier.

Overcast conditions in central and western region of the country continues to cloud output prospect and more importantly quality of the produce. Rainfall was reported in select markets of Maharashtra, Karnataka & Madhya Pradesh since last evening.

Madhya Pradesh received rains last evening. Harvesting of Urad completed in some areas. Rains may have damaged new crop in some areas, sown late and harvesting is still in progress. Meanwhile, new Urad contain 15-20% moisture & dagi quality arrivaled in market yard.

At Lalitpur market, New Urad price lost Rs 100-125 at Rs 4,500-5,700/100Kg on increased arrivals of 10000 Katta. Buyers stay light due to dagi and 15-20% mositure quality arrivals. Millers from Himmatnagar, Bikanner, Raipur were active to purchase. Today clear weather condition was witnessed.

New Urad traded in the range of Rs 3,000-4,000/100Kg at Orai market with dagi quality and 18-22% moisture contain quality arrivals of 250 bags.

Polish-unpolish Urad priced unchanged at Rs 7,950-8,000/100Kg and Rs 7,750-7,800, respectively in Guntur markets of Andhra Pradesh on slack mills trade activity. Similarly, Urad gota variety price was flat at Rs 9,950-100,00/100Kg.

At Burma, Urad FAQ-SQ varieties price eased by $10 each to trade at $835 & $975 per metric ton on CNF basis for Mumbai. Today, local currency Kyat weakened against the U.S. dollar. It stood at 2900 Kyat/dollar versus 2800-2900 during the previous day closing.

For Chennai, Urad FAQ-SQ quoted at $830 & $970 per metric ton on CNF basis for October shipment. Fluctuation of prices depend on currency movement.

As per local source, Urad stock at Burma are estimated at around 2 lakh tonne. New Urad crop likely to gather pace from January onward.

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

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

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