Commodities

Bullish outlook for moong, urad

Our Correspondent Indore | Updated on February 19, 2014 Published on February 19, 2014

Majority of pulses and pulse seeds ruled flat in Indore mandis on Wednesday on subdued and slack demand. Sluggish trend continued in tur on slack demand and rise in arrivals of new tur from Maharashtra and Madhya Pradesh. Tur (Maharashtra) in local mandis today declined to Rs 4,100 (down Rs 50), while tur (Madhya Pradesh) ruled at Rs 3,300-Rs 3,600 ( down Rs 200 from last week)

According to traders, bearish sentiment will continue in tur in the coming days with further rise in arrival of new tur from Maharashtra and Madhya Pradesh in the coming days. Tur dal on the othe hand ruled stable . with tur dal (full) in local mandis on Wednesday being quoted at Rs 6,000-Rs 6,300 a quintal, tur dal (sawa no.) at Rs 5,700-Rs 5,900, while tur dal marka ruled at Rs 6,400-Rs 6,600.

Slack demand also dragged moong. However, compared to last week, it is up Rs 300 with moong (bold) today being quoted at Rs 7,200-Rs 7,400, while moong (medium) ruled Rs 6,500-Rs 6,800 (up Rs 300 from last week).

Notwithstanding marginal rise and fall, bullish will continue in moong till arrival of new summermoong. Moong dal also ruled st able with moong dal (medium) today being quoted at Rs 8,100-Rs 8,600, moong dal (bold) at Rs 8,700-Rs 8,800, while moong mongar ruled at Rs 9,000-Rs 9,200 a quintal. Compared to last week moong dal is ruling stable.

Urad gained by Rs 150 in the past one week on improved buying support wit urad (bold) on Wednesday being quoted at Rs 4,550 a quintal, while ura (medium) ruled at Rs 4,000-Rs 4,200 a quintal.

Given poor crop output this year, future of urad appears to be bullish. Urad dal also ruled stable on subdued demand with urad dal (medium) today being quoted at Rs 4,900-Rs 5,000 a quintal, urad dal (bold) at Rs 5,100-Rs 5,200, while urad (mongar) ruled at Rs 5,800-Rs 6,000 a quintal.

Published on February 19, 2014
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