Mumbai, 24 Apr 2024 (Commoditiescontrol):Urad prices in leading southern Indian mandis have stabilized due to sluggish demand. Reports indicate that supply is currently limited, but prices are experiencing downward pressure in response to reduced buying activity.
In the markets of Madhya Pradesh and Gujarat, prices have fallen as a result of lower demand from processors. Market analysts expect prices to remain largely stable in the near term, due to the severe supply constraints caused by lower domestic production.
Additionally, the summer urad crop won't hit the market until late May or early June, further supporting stable prices until then. While Myanmar remains a major potential source of urad, stockists there are holding supplies, limiting availability. Despite this, seasonally reduced demand during the summer months is currently helping to balance supply and demand.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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