Week Ahead: Moong to rule firm on regular mill buying; Superior quality Moong in demand

MUMBAI, 17 Sep (Commoditiescontrol): Moong prices traded higher, as per quality, during the week ended to 17th September 2022 on mills purchase against ongoing new kharif Moong arrivals.

New Moong arrivals contain higher moisture, dagi quality due to excessive rain at Moong producing belt, such as Maharashtra-Karnataka.

At Lalitpur, Kharif Moong crop is damaged by rain from last 7-8 days. Arrivals are likely of dagi quality.

Millers were actively purchasing good quality Moong. Offtake of processed Moong was limited. Similarly, the producers of namkeen or snacks and dalmoth, too, were involved in need based buying.

At the Jaipur market, Moong's price ruled higher by Rs 100 at Rs 4,500-6,850/100Kg as per quality.



Meanwhile, the latest Kharif crop sowing update remains slightly discouraging.India 2022-23 Kharif Moong acreage was down 3.98% (as compared to the same period last year), as on Sep 16 at 33.26 Lakh Ha Vs 34.64 Last Year.



Targets for procurement of 2,75,645 MT of summer moong were set by the central government for the year 2022-23. Against which 3,44,622 MT of summer moong has been procured in Madhya Pradesh so far. According to the instructions of the Central Government, 40 quintal quantity is being procured from every farmer every day.

Trend - Mills buying likely to be continue of superior quality new kharif Moong on immediate requirement for crushing as demand for processed Moong may continue for Diwali. New kharif Moong arrivals still contain higher moisture, dagi quality due to excessive rain in Maharashtra-Karnataka. Moreover, per acre yield of new kharif Moong reported less in Maharashtra-Karnataka. Also , higher procurement of summer Moong against set target has supported prices. But, at the same time upside is limited due to selling by government agencies and arrivals of new Moong gathering pace in Rajasthan.

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