Mumbai, 09 Dec (Commoditiescontrol): Urad prices in Myanmar and India have resumed their downward trajectory, reflecting weaker demand and expectations of robust supply in the coming months. In Myanmar, prices for both Special Quality (SQ) and Fair Average Quality (FAQ) urad dropped sharply in local markets and on cost and freight (CIF) quotes to India. The lack of stockist buying and anticipation of new crop arrivals further weighed on prices.
In Myanmar’s local markets, new crop FAQ urad for March delivery was quoted at approximately 3,500,000 Myanmar Kyat (MMK), aligning with current rates. This price parity prompted stockists to liquidate ready-delivery stocks in favor of forward contracts, easing working capital needs but exerting additional pressure on prices. On a CIF basis to India, SQ and FAQ prices fell by $15 per metric ton, reflecting muted buying interest. Locally, SQ prices declined by 20,000 MMK to 3,860,000 MMK per ton, while FAQ prices fell by 25,000 MMK to 3,475,000 MMK per ton. Corresponding CIF quotes for SQ and FAQ dropped to $1,020 and $925 per metric ton, respectively.
In India, urad prices in domestic markets remained steady, with no significant changes recorded in major trading hubs such as Indore, Guntur, Vijayawada, Jaipur, Jalgaon, Chandausi, and Rajkot. Mandi trades showed stable pricing trends, reflecting balanced supply-demand dynamics.
Export data from the Overseas Agro Trade Association (OATA) highlighted a consistent decline in Myanmar’s urad shipments. November exports totaled 56,436 metric tons, down from 62,379 metric tons in October and significantly lower than August’s peak of 95,763 metric tons. Year-to-date exports stood at 834,180 metric tons, averaging 75,835 metric tons per month.
Looking ahead, analysts expect urad prices to remain under pressure due to abundant supply from various sources. Myanmar’s ready-delivery stocks, ongoing small crop arrivals, and India’s Kharif harvest are expected to maintain supply levels for the next three to four months. Although Myanmar’s major crop harvest has been delayed by a month, a bumper crop is anticipated to add further supply. Additionally, Brazil is expected to ship 50,000–60,000 metric tons of urad to India by April 2025, reinforcing supply-side strength.
Historically, the November-to-February period has been marked by negative price trends for urad, which, coupled with strong supply expectations, continues to weigh on market sentiment.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
