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Week Ahead: Moong prices may dip as summer crop harvest begins in M.P, record cultivation in Punjab

16 May 2022 12:56 pm
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MUMBAI, 16 May (Commoditiescontrol) Moong prices traded higher, as per quality, last week ended on 14th May 2022 due to selected mills buying activities.

However, the harvesting of summer Moong has picked up pace in Madhya Pradesh and Gujarat.

In Punjab, the area under Moong cultivation has nearly doubled to 97,250 acres this season after the state government assured the farmers of providing the MSP on the crop. At present, moong has been cultivated on around 97,250 acres (38,900 hectares) as compared to 50,000 acres during the last year. Punjab is likely to harvest 40,000MT of moong this season with an average yield of 4 quintal per acre.

Moreover, arrivals of new summer moong were witnessed at the major markets of Madhya Pradesh and Gujarat.

India 2022 Summer Moong acreage was up 21.14 %, as of May 13 at 17.48 Lakh Ha Vs 14.43 Last Year.

At the Jaipur market, Moong traded higher by Rs 200 at Rs 6,000-7,000/100Kg as per quality.

On other hand, Rajasthan origin new Moong traded weak by Rs 100 at Rs 4,500-6,800/100Kg, as per quality, at Naya bazaar pulses market of Delhi.

Mozambique origin Moong traded at Rs 6,200-6,300/100Kg in Mumbai. Importers were facing losses as their purchase cost was higher around Rs 7,100.

Meanwhile, Nafed sold the summer Moong crop of 2021 at Rs 6200/100Kg in Madhya Pradesh. In Maharashtra, Kharif-2020 crop Moong traded at Rs 6,000/100Kg.
Trend - Moong prices are likely to remain under pressure due to factors such as harvesting of summer crop Moong begins in Madhya Pradesh-Gujarat, record cultivation at Punjab, and the government liquidating old stock at lower rates in the tender. Stockiest are interested in liquidating their stock. Prices may remain under pressure during the arrival period which is to start from month-end and last up to June end.






(By Commoditiescontrol Bureau; +91-22-40015513)


       
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