Urad prices to stay firm in the near term due to low stock, says pulses body
This story was originally published at 21:46 IST on 24 February 2025
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MUMBAI – Urad prices are expected to stay firm in the short term due to low stock, shortage of good-quality desi urad and expected seasonal demand, according to India Pulses and Grains Association's weekly market update. Seasonal demand in March, along with the rupee's depreciation against the dollar, could support prices, it said.
A weak rupee is keeping imported urad prices up as higher cost of new shipments is discouraging importers to sell at cheaper prices. There is anticipation of a seasonal increase in demand as papad production starts next month, the pulses body said.
During the week ended Friday, urad prices had risen due to bargain buying at lower rates, low stock in Chennai and Delhi, and a shortage of good-quality desi urad, even though there was lower demand for processed urad, it said.
However, arrival of new crop from Andhra Pradesh, and imported urad from Burma and Brazil could weigh on prices, the association said. Market participants are waiting for the open general licence extension, after which Myanmar may sell more due to a bumper harvest. Open general licence allows the import or export of certain goods without requiring a specific individual permit, usually within the regulations of a country's import-export policy. Prices of domestic urad in Chandausi, Uttar Pradesh, rose by INR 100 on week to INR 7,300-INR 7,350 per 100 kg (1 bag = 50 kg), according to the association. End
Reported by Taniva Singha Roy
Edited by Deepshikha Bhardwaj
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