Mumbai, 27 June 2024 (Commoditiescontrol): Moong sowing has commenced in North Gujarat and Rajasthan, and it is nearing completion in Maharashtra and Karnataka. This season's acreage is expected to be significantly higher due to elevated moong prices and comparatively lower prices for competitive crops such as soybean, moth, bajra, and cotton.
Moong prices in major markets have remained stable to firm for the fourth consecutive session. Local traders report that buyers have stayed active following the recent price correction. Further price decreases are unlikely, as seed demand for kharif acreage is anticipated to rise.
In Madhya Pradesh and Rajasthan, moong prices have remained relatively stable, with notable exceptions in Indore, Narsinghpur, and Jaipur, where prices have increased by Rs 100-200 per quintal.
Moong prices are anticipated to remain steady in the near term, following a sharp correction from seasonal highs. Significant price increases are unlikely due to a bumper summer crop and an expected increase in Kharif crop sowing. However, prices may receive a boost if government procurement at the Minimum Support Price (MSP) resumes, which is anticipated in response to record production levels and the projected sharp rise in Kharif acreage.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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