Mumbai, 08 May 2024 (Commoditiescontrol): Moong prices remained largely stable on Wednesday, across major trade center, with exception of Jaipur where price slipped by Rs 100 per quintal due inferior quality arrival. Arrivals of Chamki quality had driven prices sharply higher in previous sessions. The majority of markets in Madhya Pradesh and Karnataka remained closed. In the Narisghpur market, improved quality due to less moisture has resulted in price increases.
In Narsingpur, Moong saw a Rs 102 uptick for best quality, while lower-quality variants witnessed a decline of Rs 1,100 . Indore witnessed a significant increase in the arrival of new moong, totaling 220 quintals, predominantly consisting of lower-quality produce, leading to a Rs 1,100 drop in auction prices, settling at Rs 5,700 per quintal. Conversely, good quality moong remained steady at Rs 8,300 per quintal.
Indore witnessed a significant decline in Moong Mogar dal prices on Wednesday, with a drop of Rs 100 per quintal attributed to subdued demand and buyer retreat from higher price levels. Commercial transactions recorded rates ranging from Rs 11,100 to Rs 11,200 per quintal, while the best quality Moong Mogar Dal remained stable at Rs 11,300 to Rs 11,400 per quintal, experiencing a similar Rs 100 decline. The market's reaction highlights ongoing challenges in the dal trade, reflecting cautious sentiment among traders and consumers alike.
Experts forecast a softening in prices with increased arrivals of new moong, anticipating a need-based procurement approach by millers. However, the looming heatwave shoul limit arrivals and strong demand at lower levels are expected to provide support in the near term. Although a sharp rise is improbable until arrival pressures ease, prices are projected to maintain a broad range in the foreseeable future.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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