Mumbai, March 25 (Commoditiescontrol): Moong prices continued to rise for the second straight week in Jaipur and other major markets due to adverse weather conditions in Rajasthan and Madhya Pradesh, increased mill demand, and an uptrend in other pulses.
In the Jalgaon market of Maharashtra, both superior and average quality Moong saw a significant increase in prices of Rs 1200-1500/100 kg, primarily due to an upsurge in mill demand and a shortage of readily available stock. Furthermore, in the Delhi market, Moong of both superior and average quality originating from Rajasthan also experienced a price hike of Rs 600-700.
In Jaipur, the prices of Moong dal processed from both average and superior quality increased by Rs 1000 each, reaching Rs 1,0000/100Kg and Rs 10,400/100Kg, respectively, as a result of strong demand. Similarly, in Gulbarga, the prices of Moong processed from both average and superior quality increased by Rs 600 each, with prices reaching Rs 10,500/100kg and Rs 10,600/100kg, respectively.
As per recently released sowing data, Gujarat summer sowing Moong was down by 3.73%, covering 32981 hectares compared to last year's 34258 hectares.
Desi Moong (Jaipur) - Trending higher / Next resistance at Rs 9,000. Click here
Trend:Trend: The Moong market in Jaipur experienced a sudden and significant price surge attributed to several factors, including unfavourable weather conditions in Rajasthan and Madhya Pradesh, an increase in mill demand due to a good offtake in Moong Mogar/Dal, and an overall uptrend in other pulses. Despite this, sellers were not actively participating in the market as most of the stock was held by strong hands. However, it is important to note that Moong's price may face higher resistance due to Nafed's active selling of old procured Moong. Furthermore, the upside potential in the Moong market may be limited as the supply of Rabi crop is expected to commence soon, followed by the summer crop.
(By Commoditiescontrol Bureau: 09820130172)
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