Weekly Review- Urad

22-Jun-2024 08:52 PM

Urad prices continue to fall due to weak demand

Chennai. Urad prices declined during the current week due to increased selling and weak buying. Due to the cold demand in Urad Gota, the buying of Urad by dal millers remained sluggish. The arrival of summer urad in the producing markets is getting better. Due to the timely arrival of monsoon, the sowing of urad is getting better in Karnataka, Maharashtra and Andhra Pradesh. Due to all these reasons, there is pressure on the prices of urad. The MSP of urad for Kharif season 2024 was increased by the government by Rs 450 per quintal to Rs 7400 per quintal. But at present, the prices of urad in the markets are running much above the MSP. Due to increased selling by importers and sluggish buying, Chennai Urad witnessed a decline of Rs. 150 in FAQ and Rs. 175 in SQ per quintal during the current week and with this decline, the price remained at Rs. 8950 FAQ and Rs. 9750 SQ per quintal at the weekend. Similarly, Mumbai Urad also declined by Rs. 100 per quintal this week and remained at Rs. 9100 per quintal at the weekend.
Burma
Due to weak export demand, Burma Urad FAQ declined by $ 25 and SQ by $ 30 per tonne during the current week and the price remained at $ 1080 FAQ and $ 1170 per tonne at the weekend.
Delhi
Due to the impact of port fall and weak demand from dal millers, Delhi Urad FAQ fell by Rs. 100 and SQ by Rs. 100 per quintal during the current week and the price remained at Rs. 9300 for FAQ and Rs. 10150 for SQ per quintal at the weekend.
Madhya Pradesh
Due to increase in selling and weak buying, Madhya Pradesh Urad prices witnessed a fall of Rs. 100/200 per quintal during the current week and with this fall, the price remained at Rs. 6500/8300 for Ashoknagar, Rs. 5500/8500 for Ganjbasoda, Rs. 7600/8600 for Jabalpur and Rs. 9000/9200 per quintal at the weekend.
Maharashtra
Due to sluggish buying, Maharashtra Urad prices declined by Rs. 100/200 per quintal during the last week and the prices remained at Akola Rs. 9400, Latur Rs. 8000/9600, Barshi Rs. 8000/8800, Jalgaon Rs. 9200/10100 and Ahmednagar Rs. 8500/9000 per quintal at the weekend.
Others
Due to sluggish demand for Urad Mogar, buying of Urad by dal millers remained quite calm, due to which, this week, Andhra Pradesh's Krishna District Urad witnessed a decline of Rs. 250 and Vijayawada Urad witnessed a decline of Rs. 300 per quintal and the prices remained at Krishna District Rs. 9450 and Vijayawada Rs. 9500 per quintal at the weekend. Similarly, Raipur Urad also declined by Rs. 100 this week and remained at Rs. 9600 per quintal at the weekend.
Urad Dal
Due to the impact of fall in Urad prices and weak demand, the prices of Urad Dal have fallen by Rs. 100/200 per quintal during the current week and with this fall, the prices at the weekend remained at Delhi Rs. 11100/12400, Bhatapara Rs. 11800/11850, Jalgaon Rs. 12300, Meerut Rs. 10600/11200 and Indore Rs. 12000/12600 per quintal.