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Informist, Monday, Feb. 3, 2025

 

MUMBAI – Urad prices are likely to remain under pressure due to anticipation of higher arrivals next month from Myanmar on a good production outlook and robust rabi crop forecast, the India Pulses and Grains Association said Monday. Moreover, millers and traders are likely to be cautious, focusing on immediate needs instead of stockpiling, which will also weigh on prices, it said.

 

Urad prices are already on a downtrend due to a gradual increase in arrivals from Villupuram and Kovilpatti in Tamil Nadu, the trade body said. "Prices were low in major markets during the week ending February 1, 2025, due to steady supply from Myanmar, weak Myanmar CNF (cost and freight) quotes, and limited interest from millers for crushing as demand remained low," it said.

 

Due to higher crop estimates this year, market sentiment is bearish for the pulse, the association said. However, if speculative buying picks up, the oversold market may see a short-term rebound, the pulses body said.

 

In the week ended Saturday, prices of urad in Chandausi, Uttar Pradesh, were steady at INR 7,600 per 100 kg (1 bag = 50 kg), according to the association. Prices of urad in Lalitpur, Uttar Pradesh, fell by INR 200 from the previous week to INR 6,000-INR 8,000 per 100 kg.  End

 

Reported by Taniva Singha Roy

Edited by Namrata Rao

 

 

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