Mumbai, 01 Oct 2024 (Commoditiescontrol): Urad prices eased on Tuesday across major domestic and international markets, driven by a weak trend in Burma's market and increased supply from the arrival of new crops with high moisture content. This added pressure to domestic prices, leading to a downward trend in key trading centers.
In Burma, the price of SQ urad fell by K40,000, settling at 4,165,000 kyats per metric ton, while FAQ urad dropped by K45,000 to 3,910,000 kyats per metric ton. In CNF (Cost and Freight) India trade, SQ and FAQ prices also fell by $5, now trading at $1,075 and $980 per metric ton, respectively. However, Chennai’s resale market saw no change, with both varieties holding steady at these same prices.
Across Indian markets, imported urad prices eased in key locations. In Chennai, FAQ and SQ varieties dropped by ₹25, trading at ₹8,225 and ₹9,025 per quintal, respectively. Delhi markets saw a sharper decline of ₹50, with FAQ priced at ₹8,575 and SQ trading between ₹9,400 and ₹9,450 per quintal. Mumbai witnessed a ₹25 dip, while Kolkata remained stable, with FAQ priced at ₹8,450 and ₹8,600 per quintal, respectively.
In the All Expenses Paid (Bilty) market, trends were mixed. While Guntur experienced rising prices, markets in Vijayawada, Indore, and Chandausi remained steady. Meanwhile, Jalgaon and Jaipur posted declines of ₹50 and ₹100, respectively.
Mandi trades saw urad prices holding steady across various regions, and the Split Black Matpe (Urad Dal) market reflected a similarly mixed tone, with no significant changes in major markets such as Mumbai, Guntur, and Gulbarga.
The 2024 Kharif season has shown a notable increase in the total area sown for pulses, a positive indicator for India’s agricultural output. As of September 27, 2024, the total pulse-sown area reached 128.10 lakh hectares, an increase of 8.83 lakh hectares compared to 119.27 lakh hectares during the same period last year. However, uradbean sowing saw a decline, dropping from 32.60 lakh hectares last year to 30 lakh hectares this season, a reduction of 2.60 lakh hectares. This decline may be attributed to localized unfavorable conditions or shifting market dynamics.
Looking ahead, with the Pitru Paksha period ending, demand is expected to rise, providing some support to prices. However, this may be a temporary relief rally, as post-Dussehra demand could taper off with the market entering a festive mood and kharif supply expected to increase, potentially leading to further declines in urad prices.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
