Weekly Review - Urad

27-Jan-2025 08:16 PM

Urad prices rise due to increased buying

It looks like there was a general rise in urad prices across various markets last week, primarily driven by factors like reduced arrivals, decreased selling pressure, and stronger demand. Here's a quick summary of the key trends:

• Chennai: Prices increased by Rs 150-175 per quintal, reaching Rs 7300 for FAQ and Rs 7950 for SQ due to reduced supply and strong demand.
• Kolkata: Prices saw a modest rise of Rs 50 per quintal, reaching Rs 7600 per quintal.
• Burma: Export prices increased, with FAQ rising by $25 and SQ by $20 per tonne, bringing FAQ to $810/ton and SQ to $905/ton.
• Delhi: Prices also increased by Rs 150 per quintal, reaching Rs 7725 for FAQ and Rs 8400 for SQ.
• Madhya Pradesh: No significant price changes; prices stayed stable in key markets like Ashoknagar and Jabalpur.
• Maharashtra: A mixed trend with minor fluctuations (rise/fall of Rs 50-100) across various locations like Akola and Solapur.
• Other Areas: Prices in Krishna District and Vijayawada saw a Rs 50 improvement, bringing them to Rs 7850 per quintal.
• Urad Dal: No price change observed, remaining steady across major markets like Delhi, Bhatapara, and Indore.

The key factor behind the rise in prices seems to be a combination of low arrivals, a reduction in stock selling, and consistent demand, especially from dal millers. The situation seems set to continue for the next few weeks with no new crop expected for another 1-2 months.