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New Moong Extends Upward Rally In Selective Markets

14 Jan 2020 5:35 pm
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Mumbai (Commodities control) – New Moong traded firm in selective markets on Tuesday, as per quality, amid millers' buying activity against declining arrivals of Kharif moong and lower crop output.

Millers continue to chase good quality moong to meet immediate crushing requirements.

Small Farmers are releasing small quantities of pulses, for immediate cash requirements, in the market instead of selling to government agency, in anticipation higher price for their produce.

Farmers in Rajasthan are holding back their stocks, despite prices trading above MSP. Meanwhile, limited stock is reported in hands of private traders/millers.

Demand and sale counters in processed Moong were reported to be quite active.

As per Merta (Rajasthan)based trader, Prices are likely to scale up, further, by Rs 400-500/100Kg.

As on January 11, 2020, NAFED has successfully procured 139543.66 MT of Moong at Minimum Support Price of Rs 7,050.

Balance stock with Nafed under PSS as on 11 January 2020 is around 232460.2 MT.

Spot New Raw Green Gram (Moong) Prices In Key Indian Markets:

(By Commoditiescontrol Bureau; +91-22-40015513)

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