Mumbai, 04 Oct 2024 (Commoditiescontrol): Urad prices continued their steady-to-soft trend on Friday across both domestic and international markets, as mills focused on need-based buying, while new arrivals with high moisture content saw limited interest. In Burma, liquidation pressure pushed prices lower for both Fair Average Quality (FAQ) and Superior Quality (SQ) varieties.
In Burma, SQ urad prices dropped by K55,000, settling at 4,185,000 kyats per metric ton, while FAQ prices fell by K24,000 to 3,816,000 kyats per metric ton. In Cost and Freight (CNF) India trade, prices remained steady, with SQ trading at $1,070 and FAQ at $975 per metric ton. Chennai’s resale market offered both varieties at the same levels as the previous session.
In India, imported urad prices reflected a weak trend. In Chennai, FAQ prices declined by ₹25, trading at ₹8,175 per quintal, while SQ remained stable at ₹9,000 per quintal. In Delhi, FAQ and SQ varieties saw a ₹25 dip, quoted at ₹8,525 and ₹9,400 per quintal, respectively. Mumbai’s FAQ price declined by ₹50 to ₹8,400 per quintal, while Kolkata’s prices remained unchanged at ₹8,600 per quintal.
The All Expenses Paid (Bilty) market maintained a steady-to-weak tone, with stable prices in Vijayawada, Indore, Jalgaon, and Jaipur. However, Guntur and Chandausi witnessed price drops of ₹25 and ₹50, respectively. Mandi trades reported stable trends across various regions, while the Split Black Matpe (Urad Dal) market remained steady in key markets such as Mumbai and Gulbarga.
Urad cultivation for the 2024 Kharif season saw a slight decline of 1.87%, with 30.73 lakh hectares planted as of September 20. On the import front, urad shipments surged in August to 68,500 metric tons (MT), up from 48,750 MT in July, with Myanmar accounting for 60,000 MT and Brazil contributing 8,000 MT.
Looking ahead, prices are expected to find brief support as demand picks up during Navratri. However, this lift may be short-lived, as post-Dussehra demand is anticipated to fade. Combined with the expected increase in kharif crop arrivals, urad prices could face further downward pressure in the coming weeks.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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