Urad price expected to soften due to regular supply and profit booking

28-May-2024 04:50 PM

Mumbai. Apex trade body - India Pulses and Grains Association (IPGA) in its weekly price outlook (report) has expressed the possibility of some moderation in urad prices because, firstly, it is being supplied regularly and secondly, profit booking is also seen in it.

Has been. Urad is being imported regularly from Myanmar while summer (Zaid) crop is also arriving in the domestic division.

This is likely to increase supply and availability in the market and put pressure on prices. But the IPGA report has warned that there is limited supply of urad from

Tamil Nadu and farmers of Andhra Pradesh are trying to stop the stock of polished urad, due to which its price may rise in the coming time.

According to the report, although new stock of good quality summer urad is arriving in Madhya Pradesh and Gujarat, its sale in the billty business in Tamil Nadu remains expensive. Farmers in Andhra Pradesh are not willing to sell urad stock at lower prices. 

The supply of urad from Myanmar is expected for the next three-four months and India has no other option but to depend on its imports.

Sowing of the new domestic (kharif season) crop has not yet started and its harvesting preparation will begin after four months.

Meanwhile, we will have to depend on imported goods from Myanmar. Myanmar producers and exporters have complete knowledge of the Indian pulses market, hence they make their business strategy based on this.

It will be interesting to see how the price of urad remains in the coming months because based on that, a bullish trend can be formed in the Indian pulses market. 

Last week, urad prices rose by Rs 200 to Rs 9500/9700 per quintal in Rajkot, Gujarat as demand from pulse millers remained strong. Prices also remained slightly higher in Andhra Pradesh where farmers and traders were holding stocks.