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  • Urad prices have been moving in a downward trend since last few days owing to considerable fall in demand from retailers at prevailing levels.

  • Fall in demand from retailers at current levels amid government's measures to curb rising prices and improved supplies in the market, too kept pressure on Urad prices in the recent days.

  • Currently, Urad prices in many Indian states are hovering in the level of Rs.7000-8000 per 100 kg.

  • India Rabi Urad sowing as on November 2, increased by 36.8% compared to same period a year ago, according to latest data released by Indian agriculture ministry. It is shown in table below:

 

India Rabi Urad Sowing As On November 02, 2016

States

02/11/15

02/11/16

% Change Y/Y

Andhra Pradesh

26000

69000

165.4

Assam

52000

35000

-32.7

Chhattisgarh

1100

800

-27.3

Karnataka

100

100

0

Odisha

12200

10500

-13.9

Tamil Nadu

27000

49700

84.1

Telangana

3000

1000

-66.7

Total

121400

166100

36.8

Note: Area In Hectares

 

  • Nafed have so far procured 19727 tonnes of Urad from the current Kharif crop to boost supply in the open market and curb price rise. Procurement of Urad is sourced above Minimum Support Price (MSP) level.

  • Indian state of Rajasthan was among the major beneficiary as agency has sourced highest quantity of Urad from the state. It bought 5,891 metric tonnes of Urad from the state.

  • India’s efforts to control the rising Pulse prices seems to be getting desired results as major Pulses prices are witnessing downward trend since last 2 weeks and because of this, Urad has also shown a decline in recent days. Prices may correct more 2-3 per cent in coming days when supply pressure from global markets will start.