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Informist, Monday, Feb. 10, 2025

 

MUMBAI – Prices of urad are likely to rise in the short term on strong demand from mills, the India Pulses and Grains Association said in its weekly report Monday. However, once the demand slows down and arrivals of the rabi crop increase, prices may fall. Prices may also fall to new lows as imports from Myanmar rise, due to a bumper harvest in that country, the association said. 

 

The market will be monitoring the fluctuations in the Indian currency, Brazil's urad output, and the potential extension of duty-free imports of urad, the association said. The duty-free import of urad is set to expire on Mar. 31.

 

Prices of Myanmar imports varied according to the variety last week, the association said. Imports of standard quality urad rose on demand from mills in Delhi and south India. The standard quality urad traded at a premium in spot markets, but at a discount in forward deals, the association said. On the other hand, prices of imported fair average quality urad remained low due to limited buying, it added.

 

Arrivals of good quality domestic urad are low, and supply of the crop from Uttar Pradesh is slow, supporting prices of the imported urad, the association said. Prices were also supported by a rise in import costs due to a weak ruppee, despite rising supply from Myanmar, the association said.

 

In the week ended Saturday, prices of the imported standard quality urad in Chennai rose by INR 200 from the previous week to INR 7,950 per 100 kg, according to the association. Prices of the imported fair average quality urad in Chennai fell by INR 25 on week to 7,025 per 100 kg.

 

Prices of domestic urad in Chandausi, Uttar Pradesh, fell by INR 150 on week to INR 7,250-INR 7,300 per 100 kg (1 bag = 50 kg), according to the association. Prices of domestic urad in Guntur, Andhra Pradesh, fell by INR 200 from the previous week to INR 7,700 per 100 kg.  End

 

Reported by Shreya Shetty

Edited by Rajeev Pai

 

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