Mumbai, 22 May 2024 (Commoditiescontrol): Amidst an uptick in mills demand and a surge in export inquiries for moong dal in Madhyaoradesh markets, the market for moong and moong dal witnessed a notable strengthening on Wednesday. However, at Gujrat markets the pulses suffered a loss due to arrival pressure.Rajasthan and KArnataka market remain unchanged with limited trading activity due to neglible supply available in the region.
At Delhi, Indore and Narsinghput market Moong whole quoted Rs 100 stronger. An Indore based trader informet that Moong reported a substantial rise in prices for new summer moong. Gujarat and Warangal markets suffered losses due to rising arrival pressure.
Initially, the market exhibited a soft tone, but a sudden burst in trading activity propelled prices to fluctuate within the range of Rs 6,500 to Rs 9,500 per 100 kg, contingent upon quality and variety.
Indore markets saw arrival of 400 quintals of moong, prompting a noteworthy rise in prices.
Moong dal market maintained steady tone, trading between Rs 10,100 to Rs 10,800 per 100 kg. Prices for Moong Mogar also remained stable, but a surge in demand from exporters is likely to push the prices for export-quality Moong Mogar higher in the near term.
Traders say that the pipeline for moong in the country is empty and it will take 1-2 months to fill it. This is the reason why moong prices are getting support at the upper level despite increase in summer crop arrival of moong in the mandis of Madhya Pradesh. While the crop and arrival in Gujarat are normal at present.
Moong prices are anticipated to soften modestly in the near future due to increased arrivals and higher moisture content. However, a dramatic decline is improbable, given the low inventory and substantial price correction since the season began . Additionally, seed demand is expected to limit any aggressive price drops in the short term.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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