Weekly Review - Urad
15-Feb-2025 08:34 PM
Urad prices fall due to weak demand
The weekly review on Urad highlights several key factors influencing the market:
Price Decline: Urad prices have fallen this week, mainly due to weak demand, profit booking at higher prices, and sluggish buying. There has been a reduction in prices across major markets, such as Chennai, Kolkata, Delhi, Madhya Pradesh, and Maharashtra.
Imports: Urad imports are expected to reach 6.73 lakh tonnes from April to January 2025, surpassing last year's imports during the same period. The import deadline is set for March 31, 2025, with speculation of a possible extension in the coming week.
Market Trends:
- Chennai: Urad prices decreased by Rs 50-75 per quintal, with FAQ remaining at Rs 7000 per quintal and SQ at Rs 7900 per quintal.
- Kolkata: Prices dropped by Rs 50 per quintal, leaving FAQ at Rs 7200 per quintal.
- Burma: Exporter sales and weak demand led to a $10 decline in both FAQ and SQ prices. FAQ is now priced at $780 per tonne, and SQ at $865 per tonne.
- Delhi: A Rs 50-100 per quintal decrease occurred, with prices for FAQ between Rs 7375-7400 per quintal and SQ at Rs 8300 per quintal.
- Madhya Pradesh: Prices saw a similar decline of Rs 50-100 per quintal, with Ashoknagar prices remaining between Rs 5500-6500 per quintal.
- Maharashtra: Sluggish demand led to a drop of Rs 50-100 per quintal, with prices in Akola at Rs 7700 per quintal and others like Latur and Solapur at varying levels.
Urad Dal Prices: The prices of Urad Dal remained unchanged this week, with the overall price range for Urad Dal staying between Rs 8400 and Rs 11200 per quintal across key locations such as Delhi, Bhatapara, Jalgaon, and Indore.
In summary, Urad prices have generally declined across different regions, driven by weak demand and selling pressure, with little change in Urad Dal prices. There is also anticipation regarding the extension of the Urad import deadline in the near future.