Mumbai, 03 May 2024 (Commoditiescontrol): After a firm trading activity in the previous session, the Myanmar market experienced a mixed trend on Friday, with an increase of 5,000 MMK/Mt for FAQ and a decrease of 10,000 MMK/Mt for SQ quality Urad. Higher demand from India for FAQ quality supported the prices.
Price quotes from Myanmar rose by $5 per MT due to high demand and a limited pipeline. Demand for the imported material reported strong following a recent price drop. Resale prices showed mixed results, while imported quotes were reported higher by Rs 25-50 per quintal across markets, with the exception of Mumbai, where prices remained stable.
Urad prices in the major south markets defy the downtrend due to tight supply and strong demand from end users. Other centers were reported to be stable.
Prices, as expected, found support at lower levels and began to rise as supply fell. Furthermore, the summer crop is expected to reach the market in 15-20 days, keeping prices stable in the short term.
Spot Urad Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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