Mumbai, 29 Apr 2024 (Commoditiescontrol):Increased summer moong arrivals in Madhya Pradesh's major markets have begun to put downward pressure on prices. Prices in the Khirkiya market have already dropped by Rs 100 per quintal, and as arrivals in other growing regions surge over the next few days, further declines are expected.
This downward trend reflects the impact of new crop arrivals, with markets in Rajasthan already displaying price decreases due to reduced demand. The decline has extended to moong dal prices as the cost of raw moong falls.
Market analysts expect prices to remain under pressure as arrivals increase significantly. Additionally, favorable summer moong crop conditions are anticipated to result in peak arrivals within 15-20 days, adding to the upward price pressures.
The NFSM's weekly sowing data up to April 26th indicates moong acreage has hit a record 13.88 lakh ha, a 3.2% increase attributed to expanded acreage in Madhya Pradesh and Odisha. Excellent crop conditions promise a plentiful harvest this season.
Moong prices are likely to continue facing downward pressure due to a surge in new summer crop arrivals. Prices for old moong stocks will experience a sharper decline as buyers shift their focus towards milling and stocking of the new crop.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
0 Comments 
Post Comment 
