Pulses association sees urad prices up lower domestic arrivals, imports
This story was originally published at 21:59 IST on 28 October 2024
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MUMBAI – Urad prices are likely to rise this week due to a shortage of bold variety of the commodity from domestic produce and lower imports from Myanmar, the India Pulses and Grains Association said in its weekly report on Monday. "Urad prices may rise due to damage to India's kharif domestic urad crop from bad weather and reduced sowing, leading to a shortage of good quality arrivals in the market," the report said.
Imports from Myanmar, the largest urad supplier to India, are also likely to slow down due to a huge difference between the domestic and import prices, the association said. "Myanmar knows there is a shortage of good quality bold urad in India, so after Diwali, India may have to rely on imported urad from Myanmar due to the lack of good quality options locally," it said.
If the demand from domestic millers continues, urad prices in Myanmar are expected to rise, potentially leading to a significant jump in domestic urad prices, according to the report. According to the commerce and trade department's data, India imported a total of 321,138 tonnes of urad during Apr-Aug, of which 308,786 tonnes were from Myanmar. In the same period last year, the country imported 180,575 tonnes of urad.
On Saturday, urad prices rose by INR 200 to INR 6,100-8,500 per 100 kg in Maharashtra's Solapur and those in Latur were up by INR 300 to INR 6,000-8,400 per 100 kg, according to the report. The imported urad price was INR 8,675 per 100 kg, up INR 200 on Saturday.
Prices rose last week due to lower arrivals in domestic market and imports. "Stockists are actively purchasing good quality urad because there are fewer arrivals compared to average quality in production centres and reduced kharif production," the association said. End
Reported by J. Navya Sruthi
Edited by Vandana Hingorani
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