Pulses body sees urad prices rising from next week
This story was originally published at 15:47 IST on 2 September 2024
Register to read our real-time news.Informist, Monday, Sep 2, 2024
MUMBAI – Prices of urad in the country are likely to increase after remaining stable in the first week of September, the India Pulses and Grains Association said in its weekly outlook. The association said that the limited supply of urad from Myanmar and higher costs and freight quotes may support prices.
The association said prices are also likely to rise due to concerns about damage to the kharif crop. Anticipation of lower production due to a 5.7% decline in acreage in Madhya Pradesh, Rajasthan and Odisha may also support prices, it said. Even though crop yields are good in Maharashtra, Karnataka and Andhra Pradesh, heavy rains in these areas are raising concerns about the crop, the association said.
According to agriculture ministry data, urad acreage was down 6% on year at 2.9 mln ha as of Aug 27. So far during the season, the southwest monsoon rainfall has been 26% above normal in Maharashtra, 24% above normal in Karnataka and 43% above normal in Andhra Pradesh. The average rainfall for the country has been 7% above normal during the season so far.
The India Meteorological Department has predicted above-normal rainfall in Sep, which could affect standing crops. The kharif urad harvest is expected to start in October in Madhya Pradesh, Rajasthan and Uttar Pradesh. Delays in harvesting and an increase in demand are also likely to push up prices, the association said.
During the week, while Burmese urad prices increased due to firm demand from millers at lower rates and rising costs and freight quotes, prices in the domestic market fell in Maharashtra and Karnataka due to an increase in arrivals of high-moisture quality, the pulses body said.
Urad prices in Solapur fell by 400 rupees to 8,000-8,400 rupees per 100 kg last week, according to data from the association. End
Reported by Taniva Singha Roy
Edited by Saji George Titus
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
