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Moong Prices Fluctuate Amid Rising New Crop Arrivals and Festival Demand

8 Oct 2024 6:42 pm
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Mumbai, 08 Oct 2024 (Commoditiescontrol): Moong (green gram) prices remained volatile on Tuesday, driven by increasing new crop arrivals, which are altering market dynamics, particularly during the ongoing Navratri festival. While festive demand typically supports prices, the rising supply is contributing to fluctuations.

In key producing states like Karnataka, Madhya Pradesh, and Rajasthan, arrival volumes have been increasing steadily, while inflows in Maharashtra remained stable. Many farmers are opting to sell through government procurement channels, as mandi prices continue to trade below the Minimum Support Price (MSP). Despite this, the anticipation of higher demand during the festival season is helping to maintain price stability.

In Delhi, moong from Madhya Pradesh gained ₹50, reversing the previous session’s downward trend. Rajkot’s Desi variety from Gujarat was traded between ₹6,000 and ₹8,200 per quintal. Maharashtra reported around 1,100 bags of moong arriving with moisture content between 16% and 21%, while prices in Jalgaon remained steady. However, the Desi variety in Latur recorded a ₹200 drop.

Madhya Pradesh markets, such as Indore and Harda, witnessed price declines, while Rajasthan’s Jaipur market softened. In Karnataka, the Gadag market saw prices rise, while Bidar experienced a decline. Other key markets in the state, including Gulbarga, Yadgir, Bagalkot, and Sedam, saw no significant changes.

Looking ahead, moong prices are expected to remain steady during Navratri, with potential downward pressure emerging by mid-October as post-Dussehra arrivals increase. Additionally, government sales of older moong stocks could further pressurize prices, particularly for lower-grade varieties, while premium-grade moong may find continued support.

Spot Moong Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-9820130172)


       
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