Week Ahead: Moong to rule firm on regular mill buying; Superior quality Moong in demand

MUMBAI, 21 Jan (Commoditiescontrol): Moong prices in Jaipur extend rise during the week ended 21st January 2023, posting their fifth consecutive week of gain, on the back of higher demand from mills for quality produce and increased sale of processed Moong. Availability of superior quality Moong less in domestic market.

At the Jaipur market, Moong traded higher by Rs 250 at Rs 6,800-8,250/100 kg as per the condition.

The Moong of Rajasthani origin witnessed an increase of Rs 300, trading in the range of Rs 8,200-8,400/100Kg depending on the quality, at Naya Bazaar market of Delhi.

The price of processed Moong firm by Rs 100 at Jaipur, trading at Rs 8,800-9,700/100Kg, due to better offtake.

The government stopped purchasing Moong in Rajasthan as prices were traded above MSP of Rs 7,755 per quintal.



Due to higher price at Kishangarh Market of Rajasthan, the purchase of moong stopped at the support price. The government has procured 13,982 qtls of moong at the rate of Rs 7,755 per quintal. Now the farmers have started selling their moong produce in the market.

As of January 20, the acreage planted with Rabi Moong in India in 2022-23 was 13.86% higher than the same period in the previous year at 5.34 Lakh Ha compared to 4.69 Lakh Ha.



As per technical chart - Desi Moong (Jaipur) - A new leg of upward price move may be unfolding /we see next resistance at Rs 8,000 followed by Rs 8,225. Click here

Trend - Mills buying of superior quality Moong may continue due to the immediate requirement for crushing. The availability of superior Moong is seen less. Good offtake for processed Moong will also support the price. Moreover, the Moong balance sheet is currently tight due to the increased consumption of Moong. Supply position is likely to remain tight till the arrival of the Rabi crop, which could keep the price firm till that time.

(By Commoditiescontrol Bureau; +91-9820130172)