Weekly Outlook
Urad prices seen down on ample supply, weak demand from millers, says pulses body
This story was originally published at 13:52 IST on 2 December 2024
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MUMBAI - Prices of urad are expected to remain weak this week due to upcoming arrivals of the pulse imported from Myanmar and low purchases from millers amid sluggish demand for the processed and gota varieties of the pulse, the India Pulses and Grains Association said in its weekly report released Monday.
Prices could also be weighed due to arrivals of the new kharif urad in Chandausi and Saharanpur in Uttar Pradesh, the association said. Millers are likely to stay away in anticipation of arrivals of the new crop from Myanmar and Andhra Pradesh early next year.
Prices remained down in the week ended Saturday for the second week in a row due to new kharif arrivals from Uttar Pradesh, West Bengal, and Odisha, the report said. The market was under pressure due to low buying interest from millers, weak demand for the processed and gota varieties of the urad, and lower cost and freight prices of imports from Myanmar.
In the week ended Saturday, prices of urad in Lalitpur in Uttar Pradesh, fell by INR 100 to INR 6,000-7,500 per 100 kg, while those in Neemuch in Madhya Pradesh fell by INR 300 to INR 6,700-7,200 per 100 kg, according to the association. Prices of imported urad at key ports such as Chennai fell by INR 75 to INR 8,950 per 100 kg, it said.
According to the first kharif estimates for the current crop year (Jul-Jun) published by the agriculture ministry, urad production could drop 25% on year to 1.2 million tonnes from 1.6 million tonnes last year. End
Reported by Shreya Shetty
Edited by Vandana Hingorani
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