Mumbai, 24 June 2024 (Commoditiescontrol): Moong prices have stabilized in major markets following a sharp decline due to arrival pressure. According to local traders, the drop in prices has spurred good demand, making further decreases unlikely. With the anticipated rise in seed demand for Kharif acreage, the market is expected to maintain its current price levels.
In Madhya Pradesh and Rajasthan, Moong prices have remained relatively stable, except in Khirkiya, where fluctuations were noted. The significant price drops observed earlier have reached a point where further declines are limited.
However, substantial price increases are not expected in the immediate future. Government procurement, in response to record production levels and an anticipated sharp increase in acreage, is yet to resume. Until then, prices are likely to hold steady without significant upward movement.
The Moong market has stabilized following a phase of significant declines. The demand for seeds for Kharif planting, coupled with the anticipated resumption of government procurement, is expected to prevent further price drops while sufficent supply avialble in doemstic market and weak tone in other pluses is limiting substantial price increases for the time being.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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