Mumbai, 16 May 2024 (Commoditiescontrol): Moong prices continued their upward climb due to sustained demand from dal manufacturers and millers, rising by Rs 100-200 per quintal.
The Indore Agricultural Market saw a sharp decline in moong arrivals, down to 125 quintals from 235 quintals on Thursday. Prices ranged between Rs 7300 and Rs 8500 per quintal, highlighting the tight supply situation.
The surge in raw material costs has also impacted moong dal prices, which rose by Rs 100, reaching Rs 10300 to 10400 per quintal for regular moong dal and Rs 10500 to 10600 per quintal for premium moong dal best. However, export-quality Moong Mogar and Moong Peelka prices remained stable.
Traders in Rajasthan reported stable prices over the last month. However, a rise in demand for new moong in Madhya Pradesh, coupled with lower moisture content, pushed prices up by Rs 100 per quintal. While increased arrivals helped stabilize prices, the threat of rain in Madhya Pradesh could raise moisture content and potentially impact prices.
Sumer moong prices have already corrected sharply which suggests limited potential for further price decreases. As per experts correction in moong prices is over and price should move up gradually due to rising demand and restricted supply. Moreover, the upcoming Kharif sowing season is expected to drive seed demand, adding further upward pressure on prices.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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