Mumbai, 26 Apr 2024 (Commoditiescontrol): Moong prices remained largely unchanged across key Indian markets today, with the exception of Khirkiya market in Madhya Pradesh seeing a decline of Rs 100/quintal. This decline is attributed to the start of early summer crop arrivals in the region.
Market closures due to ongoing elections in some areas have further impacted trading activity.
The National Food Security Mission (NFSM) released its weekly sowing data through April 26th. Moong acreage has reached a record 13.88 lakh ha, showcasing a 3.2% increase driven by expanded acreage in Madhya Pradesh and Odisha. Crop conditions are reportedly favorable, suggesting another record production season.
This combination of increased summer crop arrivals, existing stocks of old moong with mills and government agencies, and favorable weather conditions for summer crop puts downward pressure on Moong prices. Market analysts anticipate prices to remain under pressure, with peak arrivals expected within the next 15-20 days.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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