Mumbai, 15 May 2024 (Commoditiescontrol): Moong prices maintained a steady-to-robust tone on Wednesday, driven by strong demand from dal producers. Moong dal prices strengthened by Rs 100, while new moong saw a notable increase of Rs 200.
The arrival of high-quality moong led to a recovery in prices at the Merta market. Local vendors reported a limited trading range in the Rajasthan market, with lower-quality arrivals experiencing price reductions, while higher-quality arrivals supported prices.
In the Indore Agricultural Market, moong arrivals reached 235 quintals, significantly exceeding the initial estimate of 25 quintals. This surge in supply caused a Rs 235 increase in prices, reaching Rs 8300 per quintal. However, the arrival of lighter-quality moong led to a Rs 1630 decrease from previous levels, settling at Rs 6000 per quintal.
Prices in Nagaur and Khirkiya markets remained within a narrow range, indicating stable market conditions.
The rising cost of raw materials impacted Moong Dal prices in Indore, resulting in a Rs 100 increase. Moong dal traded between Rs 10200 and Rs 10300 per quintal, with the best quality fetching Rs 10400 to Rs 10500. Export-quality moong mogar and moong peel also saw a Rs 100 price increase.
New moong experienced healthy demand at lower price points. Reduced moisture content contributed to price stabilization despite improved arrivals. However, anticipated rainfall in Madhya Pradesh could potentially raise the moisture content of recent arrivals.
Further price declines for new moong seem unlikely due to the sharp decline in prices already witnessed. Strong demand and a constrained pipeline are expected to drive future price increases. Additionally, the upcoming Kharif sowing season is anticipated to boost seed demand, further supporting prices.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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