- Imported prices provide support
- Rising arrivals may limit further gains
Indian urad and tur prices remained broadly firm on 27 September, with good-quality material continuing to command higher prices across domestic and imported markets. While fresh arrivals have increased in major mandis, there has been no major price correction so far. The market is currently balancing firm buying interest with the possibility of higher selling pressure as arrivals increase.
Urad prices hold at higher levels
Delhi imported SQ urad remained stable at INR 9,950/qunital (qtl) , while FAQ was at INR 9,100/qtl. Chennai SQ stood at INR 9,600/qtl, FAQ at INR 8,775/qtl, and Brazil at INR 9,275/qtl. Chennai Brazil gained INR 25. In contrast, Guntur Polish declined INR 25 to INR 9,225/qtl, and Vijayawada Polish fell INR 50 to INR 9,150/qtl. ew arrivals increased across producing markets. Kota recorded around 8,000 bags, Bidar 2,135 bags, Latur 1,500 bags, and Gulbarga 500 bags. Despite these arrivals, prices remained firm, particularly for better-quality material.
Chennai SQ was unchanged w-o-w at INR 9,600/qtl, while FAQ increased by INR 125, or 1.45%. M-o-m, SQ increased INR 325, or 3.50%, while FAQ gained INR 100, or 1.15%.
Tur prices remain firm across key markets
Chennai Lemon tur was quoted at INR 8,700-8,725/qtl, while Delhi Lemon tur stood at INR 8,975-9,000/qtl, with both markets gaining INR 50. Mumbai Sudan tur was at INR 8,900-8,950/qtl, Mozambique Gajri at INR 7,250-7,300/qtl, and Mozambique White at INR 7,400-8,000/qtl. Domestic tur prices remained wide, depending on quality and grain condition. Gulbarga was at INR 9,000-9,600/qtl, Akola at INR 8,500-9,480/qtl, Amravati at INR 8,600-9,300/qtl, Latur at INR 9,000-9,300/qtl, and Hinganghat at INR 7,900-9,720/qtl.
Arrivals increase, but prices remain firm
Tur arrivals included around 2,000 bags in Akola, 1,500 bags in Amravati, 700 bags in Hinganghat, 800 bags in Latur, 700 bags in Washim, and 500 bags in Dudhni. Karnataka recorded around 300 bags in Bidar and 876 bags in Yadgir. The wide price difference between qualities remains a key feature of both markets. Good-quality urad and tur continue to find buying interest, while lower-quality material may face greater pressure if arrivals increase further.
Imported prices provide support
Burma CNF urad FAQ was around $885/t and SQ around $970/t, both stable. Firm imported urad prices are supporting the domestic SQ segment. Similarly, firm Chennai and Delhi Lemon Tur prices are providing support to domestic tur prices. However, increasing arrivals and profit booking remain key risks at higher levels.
Outlook
Urad and tur prices are likely to remain firm in the near term, supported by steady imported prices and demand for good-quality material. However, rising new-crop arrivals could increase selling pressure, particularly in lower and medium-quality lots. For urad, INR 9,000/qtl remains an important level, while INR 9,950/qtl is a key higher level. In tur, INR 8,700/qtl remains an important level, with INR 9,000/qtl also important to watch.
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