Urad prices softening in wholesale market after supply boost: Govt

The government on Wednesday said urad prices have started to soften in the wholesale markets of Delhi and Indore on the back of its efforts to boost supply and reports of higher sowing in the ongoing Kharif season.

The area under coverage for urad has reached 5.37 lakh hectare till July 5 of this ongoing Kharif season compared to 3.67 lakh hectare last year.

"The consistent efforts of the Department of Consumer Affairs have resulted in softening of urad prices," an official statement said.

The central government's proactive measures have been pivotal in stabilising prices for consumers while ensuring favourable price realisation for farmers, it added.

The anticipation of good rainfall is expected to boost the morale of farmers, leading to the production of a good crop in major urad-producing states such as Madhya Pradesh, Andhra Pradesh, Uttar Pradesh, Rajasthan, Tamil Nadu, and Maharashtra.

"As on July 5, 2024, the area sown for Urad has reached 5.37 lakh hectare, as compared to