Mumbai, 13 Nov (Commoditiescontrol):The Urad (black gram) market continued to experience downward pressure, driven by limited mill demand and subdued cues from the Burma market.
In Burma, Superior Quality (SQ) urad declined by 30,000 Kyat per metric ton, while Fair Average Quality (FAQ) urad rose slightly by 2,000 Kyat per metric ton in local trade. Both SQ and FAQ urad CNF (Cost and Freight) India quotes softened, each down by $15 to $1,050 and $955 per metric ton, respectively.
In India, Burma-origin urad prices weakened further as millers postponed buying, while domestic desi urad prices held steady despite the bearish trend from Burma. In Chennai, FAQ and SQ varieties dropped ₹50, now quoted at ₹8,250 and ₹9,050 per quintal, respectively. In Delhi, FAQ and SQ prices fell by ₹50-75, settling at ₹8,550 and ₹9,500 per quintal, with additional declines observed in Mumbai and Kolkata, where FAQ prices dipped by ₹100 and ₹50 per quintal, respectively.
Domestic bilty trade for urad remained steady in key markets such as Guntur, Vijayawada, Jaipur, Jalgaon, Indore, and Chandausi, supported by stable demand. Urad dal prices across major trading centers showed minimal movement, though Mumbai reported a notable decrease.
India’s first advance estimate for the 2024-25 crop year forecasts total pulse production at 69.54 lakh tonnes, with urad output expected at 12.09 lakh tonnes, down from last year’s 16.4 lakh tonnes.
Looking ahead, analysts anticipate limited downside for urad prices as domestic arrivals decline and Burma imports reduce. Lower Kharif yields and upcoming demand for the wedding season are likely to provide price support, suggesting a cautiously optimistic outlook in the near term.
Spot Raw Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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