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Week Ahead: Moong price to extend gain on consistent mills buying

25 Sep 2022 1:56 am
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MUMBAI, 24 Sep (Commoditiescontrol): As per expectation & published in previous weekly report, Moong prices extended gain, as per quality, during the week ended to 24th September 2022 on improved mills purchase as offtake of Moong dal-mogar witnessed good.

New kharif Moong of Kishangarh-Merta & Kekri line traded higher by Rs 250 to Rs 5,500-7,000/100Kg at Jaipur with moisture contain quality 10-12%.

As per Rajasthan based trader, production is likely to halve in selected belt as yield was reported 1 quintal per bigha compare to 2 quintal per bigha last year. However, quality was better compare to last year.

As per Bagalkot based trader, 60-70% good quality Moong stocked up by stockiest for offloading during Diwali when superior quality Moong price are expected to rise by 800-1000/100Kg. No carry over stock left with private traders/millers. Also, govt has limited stock.

This year new kharif Moong is damaged by rains. Yield was less this year around 2-3 qtl per acre against 6-7 qtl per acre last year. Good quality Karnataka Moong preferred for eating & polishing purpose, whereas Rajasthan origin Moong used for processing into a dall.

According to the Government’s first advance estimates for 2022-23, Moong production is set to grow by 18.24% to 17.5 lakh tonnes against the 2021-22 fourth estimates of 14.8. lakh tonnes.

Haryana is expecting Kharif production of 41,850 MT Moong. Moong procurement will begin from October 1st & will continue till November 15th.

Under the PM Asha Abhiyan, the Chhattisgarh government will purchase Moong next month, starting from October 17 to December 16, 2022. The Moong will be purchased at the rate of Rs 7,755 per quintal. The production of Moong stood at 8,980 tonnes, of which 2,250 tonnes of Moong are expected to be procured at support price.

Meanwhile, the latest Kharif crop sowing update remains slightly discouraging. India 2022-23 Kharif Moong acreage was down 3.86% (as compared to the same period last year), as on Sep 23 at 33.37 Lakh Ha Vs 34.71 last year.

Trend - Moong prices are likely to extend rise on continued mills buying of superior quality, on immediate requirement for crushing as demand for processed Moong may improve ahead of Diwali. Moreover, per acre yield of new kharif Moong reported less in Maharashtra-Karnataka & Rajasthan. Stockiest have maintained stock at Karnataka in anticipation of prices rise during festive period. Also, higher procurement of summer Moong against set target has supported prices. But, upside in prices will be capped due to selling by government agencies and as arrivals of new Moong gathere pace in Rajasthan.

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

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