Source: Business Standard
The prices of urad had risen steeply over 2009 and 2010, due to low production, and the average all-India wholesale price reached a peak of Rs 6,660 a quintal in September 2010. Since then, with a high kharif output of 1.4 million tonnes in 2010-11, prices dropped. A 30% rise in the minimum support price (MSP) for 2012-13 and a poor monsoon took prices up again in 2012, though not to the peaks seen in 2010. Over the period January to August this year, prices moved within the range of Rs 5,332 to Rs 5,480 a quintal. With no revision in the MSP for 2013-14 and a good monsoon leading to the second highest output ever, prices are expected to be stable this year. However, demand pressures have led to a small up tick in September that has continued this month, with the average wholesale price crossing Rs 5,500 a quintal.
IPM data till week ending October 12. The Indicus Price Monitor (IPM), a product of Indicus Analytics Pvt Ltd, tracks real-time wholesale prices for 60 agricultural products from 3,000 mandis across the country. Due to differences in methodology, the actual levels of the IPM differ from the corresponding Wholesale Price Index (WPI). However, the broad trends are in sync.