Mumbai, 18 June 2024 (Commoditiescontrol):Moong price traded steady on Tuesday. Moong prices in Indian markets have stabilized after witnessinng a significant correction from recent highs. The current trading prices are now well below the Minimum Support Price (MSP) due to a robust summer crop yield.
In Madhya Pradesh, summer Moong prices have remained stable due to lower arrivals. Local sources report that the quality has improved, with reduced moisture levels due to the ongoing heat wave. Prices in Madhya Pradesh range between Rs 7,500 and Rs 8,100 per quintal, while in Rajasthan, prices vary from Rs 7,500 to Rs 8,200 per quintal.
The Indian monsoon has covered all of South India and most of Maharashtra, staying in the same range for the past 7-8 days. However, there has been no rainfall reported in Rajasthan's major growing regions. This lack of rain could potentially impact sowing activities in Rajasthan, which might support Moong prices.
Despite a significant fall in prices already, further declines from current levels are limited. The stalled monsoon movement may provide some price support, given the expected impact on sowing in key regions like Rajasthan. Nevertheless, no significant price increases are anticipated until government procurement begins.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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