Mumbai, 07 Oct 2024 (Commoditiescontrol): Moong (green gram) prices displayed a mixed trend on Monday, signaling potential volatility in the coming sessions as the new crop arrivals gain momentum. The market tone is set to be influenced by demand dynamics, especially with expctation of improved demand during ongoing Navratri festival supporting the prices.
New crop arrivals have been steadily increasing, notably impacting price movements. In Karnataka, Madhya Pradesh, and Rajasthan, arrival volumes were higher, while Maharashtra saw steady inflows. Farmers continued to favor selling through government procurement channels, as mandi prices remained below the Minimum Support Price (MSP). However, anticipated demand for the upcoming festival season is offering some price stability.
In Delhi, moong from Madhya Pradesh faced downward pressure, while the Rajkot Desi variety from Gujarat traded between ₹6,000 and ₹8,200 per quintal. Maharashtra reported around 1,100 bags of moong arriving with moisture levels between 16% and 21%, though prices in Jalgaon held steady. No new quotes were available for the Desi variety from Latur.
Madhya Pradesh markets, including Indore and Pipriya, showed stability, while Rajasthan’s Jaipur market maintained a firm tone. However, Karnataka’s key markets of Gulbarga, Gadag, and Bidar experienced price declines, and Yadgir, Bagalkot, and Sedam did not report new quotes.
Looking ahead, moong prices are likely to remain steady during the Navratri period, with potential downward pressure expected by mid-October as post-Dussehra arrivals increase. Additionally, government sales of older moong stocks could exert further pressure on prices, particularly for lower-grade moong, while prices for premium-grade varieties may find support.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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