Mumbai, 12 Apr 2024 (Commoditiescontrol):Moong (green gram) prices have exhibited stability over the past two weeks, following a period of more volatile trading over the last month. Ample supplies, ongoing sales by the National Agricultural Cooperative Marketing Federation of India (NAFED), and consistently strong demand have contributed to this recent market balance.
On April 12th, the Ministry of Agriculture released updated acreage figures that indicate favorable trends for the upcoming harvest. Moong acreage has expanded by 4.5% to reach 8.98 lakh hectares, with substantial increases seen in Uttar Pradesh and Odisha.
Market experts anticipate that prices will remain largely stable in the near future. However, they caution that any significant reduction in NAFED sales could lead to a temporary price uptick. The positive progress of summer crop sowing is expected to yield a plentiful harvest, effectively counteracting any potential long-term price increases.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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