Mumbai, 07 May 2024 (Commoditiescontrol): Urad prices in Myanmar experienced a decline attributed to sluggish demand, particularly during the summer season, exerting downward pressure on prices. Importers noted a lackluster market, leading to a drop in prices ranging from 10,000 to 20,000 Kyat per metric ton. Moreover, expectations of domestic arrivals further compounded the pressure on Burmese prices.
Meanwhile, CNF and resale quotes from Myanmar witnessed a decrease of $5-10 per MT, with minimal trading activity amidst concerns over potential government intervention. This climate prompted participants to engage cautiously, favoring hand-to-mouth transactions.
Conversely, major markets in South and North India reported stable Urad prices, with marginal increases noted in Vijayawada by Rs 25 per quintal. However, Indore saw a Rs 100 decrease in urad dal prices due to poor demand, while urad prices remained stable.
Experts highlighted a significant lack of demand for urad dal at higher prices, with only 2 quintals arriving in the farmers' market at Rs 6300 per quintal.
Despite this, the combination of limited supply and robust end-user demand is anticipated to maintain stable prices until the influx of new arrivals. While small summer crop arrivals have begun in Gujarat and Madhya Pradesh, peak arrivals are anticipated within the next 15-20 days. Some market closures were reported due to ongoing elections.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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