Weekly Review - Urad

16-Nov-2024 08:05 PM

Urad buying weak due to increased availability


Weekly Review: Urad Market Update

Chennai & Mumbai
Urad prices in Chennai and Mumbai declined by Rs. 100 per quintal this week, driven by increased availability of new urad in producing markets like Uttar Pradesh and weak buying demand. At the end of the week, the prices were:

  • Chennai:
    • FAQ: Rs. 8325 per quintal
    • SQ: Rs. 9125 per quintal
  • Mumbai:
    • FAQ: Rs. 8550 per quintal

Burma Urad
The Burma Urad market also showed a decline due to weak export demand. Prices dropped by $40 per tonne for both FAQ and SQ, with the current prices at the weekend:

  • Burma Urad:
    • FAQ: $950 per tonne
    • SQ: $1050 per tonne

Delhi
In Delhi, prices fell by Rs. 50 per quintal for both FAQ and SQ due to the combined impact of lower port prices and weak demand from dal millers. Current prices at the weekend are:

  • Delhi:
    • FAQ: Rs. 8550 per quintal
    • SQ: Rs. 9550 per quintal

Madhya Pradesh
The market in Madhya Pradesh showed a significant decline in prices, with reductions ranging from Rs. 150 to Rs. 300 per quintal, owing to increased selling pressure and sluggish demand. The prices in major markets are:

  • Ashoknagar: Rs. 5000/7200
  • Jabalpur: Rs. 5500/8000
  • Kareli: Rs. 3838/7700
  • Damoh: Rs. 5500/8000
  • Indore: Rs. 7500/8300

Maharashtra
Prices in Maharashtra also showed a decline, falling by Rs. 100-200 per quintal due to sluggish demand. The latest prices are:

  • Maharashtra:
    • Akola: Rs. 8650
    • Latur: Rs. 6000/8400
    • Solapur: Rs. 6100/8500
    • Dudhni: Rs. 6500/8500
    • Ahmednagar: Rs. 5500/7900

Andhra Pradesh & Vijayawada
In Andhra Pradesh, prices in Krishna District and Vijayawada saw a decline of Rs. 250 per quintal, with prices at the weekend being:

  • Krishna District: Rs. 8650
  • Vijayawada: Rs. 8800

Uttar Pradesh
Uttar Pradesh Urad prices fell by Rs. 300 per quintal this week, with Chandausi market at:

  • Chandausi: Rs. 8100 per quintal

Urad Dal
Due to weak buying, Urad Dal prices saw a reduction of Rs. 100-200 per quintal, with the following prices at the weekend:

  • Urad Dal:
    • Delhi: Rs. 10850/11750
    • Bhatapara: Rs. 10900/11000
    • Jalgaon: Rs. 11600
    • Meerut: Rs. 9500/10000
    • Indore: Rs. 10000/11700

Key Insights:

  1. Market Weakness: Weak demand and sluggish buying from dal millers are the primary factors contributing to price declines across the board.
  2. Increased Availability: Fresh arrivals of urad from major producing regions like Uttar Pradesh have further pressured the market.
  3. Global Influence: The drop in Burma Urad prices due to weak export demand is also impacting the domestic market.
  4. Overall Price Trends: Prices for both urad and urad dal have seen downward adjustments in various regions.

Given the current trends, it seems likely that the market will remain subdued unless there is a significant uptick in demand or export activity.

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