Mumbai, 01 Oct 2024 (Commoditiescontrol):Moong prices continue to show a mixed trend across major states due to variations in local demand, supply, and quality. Fresh arrivals of moong have started in key regions like Maharashtra, Rajasthan, and Karnataka. Despite the increased supply, price declines remain limited as farmers opt to sell to the government rather than in open markets, where mandi prices are below the Minimum Support Price (MSP). Additionally, upcoming festival demand is providing support to prices.
In Delhi, no quotes were available for moong from Madhya Pradesh. In Gujarat, the Rajkot Desi variety was quoted between ₹7,500 and ₹8,200 per quintal. Maharashtra saw the arrival of around 1,600 bags of moong, with moisture content ranging from 16% to 21%. Prices in Latur and Jalgaon for the Desi variety remained stable.
Madhya Pradesh markets stayed mostly steady, except for Narsinghpur, which experienced a ₹280 decline. Rajasthan presented a mixed trend, with stable prices in Jaipur, while Kekri and Merta saw declines, and Kishangarh markets recorded a ₹300 rise.
Karnataka markets remained largely firm, with steady prices reported in Gulbarga, while no quotes were available for Yadgir and Bagalkot. In contrast, Gadag and Sedam saw price increases. Southern regions, including Telangana and Warangal, experienced weak buying activity, leading to price declines.
The 2024 Kharif season is shaping up well for India's pulse production, with moongbean (green gram) witnessing positive growth. The sown area for moongbean has increased to 35.58 lakh hectares, up by 4.09 lakh hectares from last year’s 31.49 lakh hectares. This rise in cultivation is driven by the crop’s shorter growing period and strong market demand.
Looking ahead, moong prices are expected to remain steady to firm, bolstered by festival demand during Navratri. However, with increased arrivals post-Dussehra, prices may face downward pressure by mid-October. The government's sale of old moong stocks is also anticipated to add pressure on the market. Moving forward, the price spread between good quality and average quality moong is expected to widen. Farmers are likely to hold back premium-quality moong for government sales, supporting its prices, while continued selling of older stocks by traders and the government, along with average quality new moong from farmers, will likely lead to further price declines for the lower-grade crop.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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