Mumbai, 20 May 2024 (Commoditiescontrol): Summer moong prices have witnessed a decline recently, attributed to sluggish buyer activity amidst an uptick in arrivals. Local traders note that the moisture content in the newly arrived produce has surged due to rainfall, exerting downward pressure on prices. Reports indicate rainfall activity in the moong-growing regions of Madhya Pradesh, which is anticipated to impede arrivals and maintain high moisture levels.
In Madhya Pradesh's major markets, subdued demand from dal manufacturers and mogar users has further contributed to the price downturn. Conversely, prices in Rajasthan have held steady, buoyed by the influx of high-quality (chamki) produce, albeit trading within a narrow range over the past month.
The fall in raw material has also impacted moong dal prices, witnessing a decline of Rs 100 per quintal. Premium quality moong mogar experienced a Rs 200 drop, settling at Rs 10,600 per quintal, while moong peel prices fell by Rs 300 to Rs 10,000 per quintal.
Expectations point towards a continued downward trend in prices in the upcoming days, driven by mounting arrival pressure and elevated moisture levels. However, a steep decline is deemed unlikely due to the recent substantial price drops.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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