Domestic market price of urad rises due to low sowing and strong demand

09-Sep-2024 04:35 PM

Mumbai. The price of urad is at a high level in the domestic market and the environment of rise and strength is likely to remain in it in the future as on one hand its sowing area has come down and secondly, millers and stockists are showing great interest in its purchase for the festive season.

It is noteworthy that for the last two months, a softening environment was being seen in the price of urad, which is now stable.

Now there is a sudden trend of fluctuation in it. According to Rahul Chauhan, Director, I Grain India, the market has started strengthening due to festive demand.

According to the Union Agriculture Ministry, the domestic production of urad declined from 26.30 lakh tonnes in the 2022-23 season to 23 lakh tonnes during the 2023-24 season as the monsoon conditions were not favorable for the crop in the Kharif season last year.

In the current Kharif season, the area under cultivation of Urad has fallen by 6% as compared to last year and has remained stuck at around 29.60 lakh hectares.

Madhya Pradesh is the most important producer of Urad. It is cultivated in 45% of the total national area. But the area under cultivation of Urad in this state has fallen by 30% from 13.90 lakh hectares last year to 9.79 lakh hectares this time.

In fact, in view of the adverse weather of last year, farmers were quite apprehensive about the cultivation of Urad this time and they were afraid of heavy losses to the crop this time too.

In another major producer state- Rajasthan, the area under cultivation of Urad has fallen by 6% from 3.19 lakh hectares last year and has remained stuck at 2.98 lakh hectares this time.

But on the other hand, the area under cultivation of Urad has jumped by 53% to 3.86 lakh hectares in Maharashtra and improved by 7% to 6.92 lakh hectares in Uttar Pradesh.

There is a possibility of damage to the urad crop due to heavy rainfall and severe floods in some areas.