Mumbai, 15 Apr 2024 (Commoditiescontrol):Moong prices have remained stable over the past two weeks, market reports indicate. Despite wider price fluctuations during the last month, abundant supply, sales by the National Agricultural Cooperative Marketing Federation of India (NAFED), and high demand have contributed to this recent stability.
The Ministry of Agriculture released suumer crop acreage figures on April 12th revealing a 4.5% increase in land dedicated to Moong cultivation, reaching 8.98 lakh hectares. This growth is attributed to significant increases within the states of Uttar Pradesh and Odisha.
Furthermore, the India Meteorological Department (IMD) has forecasted a monsoon at 106% of the Long Period Average (LPA), potentially boosting Kharif crop acreage. Additionally, favorable rains in Karnataka's Moong growing regions are expected to be benfefical for Karif crop sowing which is expected to start from mid may.
Moong price are expcted to remain steady amid balanced demand and supply.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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