Mumbai, 19 Apr 2024 (Commoditiescontrol):Moong prices held steady across major domestic markets today due to balanced demand and supply. Market observers note that the National Agricultural Cooperative Marketing Federation of India (NAFED) and stockists are strategically releasing stocks to match demand, contributing to the price stability seen in recent weeks.
Prices in Rajasthan were largely consistent, with localized fluctuations based on specific market dynamics. Arrivals in Rajasthan's markets have dwindled significantly, averaging roughly 100 metric tons per day in major mandis.
Meanwhile, the National Food Security Mission (NFSM) has released updated summer acreage data, revealing a record-breaking 10.4 lakh hectares sown with moong. This surpasses the previous season's 9.42 lakh hectares. Madhya Pradesh, Odisha, and Uttar Pradesh have spearheaded the expansion in moong cultivation.
Madhya Pradesh has seen initial arrivals of early-sown summer moong, though quantities remain small. Major arrivals are expected in the first week of May. Wheat and green pea harvesting delays pushed back moong sowing activity in the region by about 7-8 days.
As early-sown summer moong arrivals gain momentum, prices may face downward pressure, especially for old crop moong. Stockists and mills will likely favor the new crop. Additionally, favorable rains in key moong-growing areas of Karnataka could initiate sowing activity from mid-May, further adding to potential downward price pressure.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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