Mumbai, 18 Jul 2024 (Commoditiescontrol): Following a weak session, urad prices in Burmese markets saw a notable increase, with prices rising by K20,000 per metric ton for SQ and K10,000 per metric ton for FAQ. CIF prices also increased by $10 per metric ton. No quotes were available for Chennai re-sale market.
In India, the domestic market prices in the key consumption centers of Vijayawada and Guntur increased moderately by Rs 25 per quintal. Sources indicate that while demand remains average, lower supply is keeping prices stable to higher.
Adding to the market's uncertainty, the India Meteorological Department (IMD) has issued an alert for heavy rainfall activity over Madhya Pradesh, a major urad growing state during the kharif season. Excessive rains at this early stage could severely damage the crop.
Amid weather concerns and robust demand at lower price levels, urad prices are anticipated to remain stable in the domestic market. With kharif arrivals expected in approximately two months, prices are likely to stay supported until then.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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