Mumbai, May 13 (Commoditiescontrol): For the third week ending May 13, 2023, the Moong prices in Jaipur, Rajasthan, remained steady, as both average and superior quality prices remained unchanged due to limited purchases by mills.
In the Jalgaon market, the prices of average and superior quality old Moong witnessed a decline of Rs 500-550/100 kg. This drop was attributed to the increase in the arrivals of new summer Moong from surrounding areas. The new summer Moong, both average and superior quality, were down significantly and were trading at Rs 8,100-8,300 compared to the previous week's prices of Rs 8,800-9,200.
Delhi observed a lack of supply of Moong from Rajasthan. However, new Moong from the Madhya Pradesh region traded at Rs 8,300 per quintal.
In Harda, the prices of new summer crop Moong, for both average and superior quality, remained unchanged due to limited demand from local and outstation mills. In Khargone, the prices of new Summer Moong declined by Rs 200 at Rs 8,100-8,200/100Kg for Indore delivery trade, depending on the quality and condition. In Khirkiya, new Moong, including both average and superior varieties, traded at Rs 7,000-7,900/100kg, with the arrival of 3,500 bags.
In the bilty trade for Vijaywada delivery, the prices of new Rabi Moong from the Guntur line witnessed an increase of 250-300, reaching Rs 7,600-7,750/100kg compared to the previous week. Similarly, new Moong polish from the Krishna district, of average quality, traded higher at Rs 7,700, while the superior variety experienced a decrease of Rs 50, settling at Rs 7,800, depending on the quality.
Due to sluggish demand, the prices of Moong dal processed from both average and superior quality in Jaipur remained unchanged, trading at Rs 9,500/100kg and Rs 10,200/100kg, respectively. Similarly, in Gulbarga, the prices of Moong dal processed from both average and superior quality stayed steady at Rs 10,400/100Kg and Rs 10,500/100Kg, respectively.
Based on the latest sowing data, Moong cultivation for the summer crop in Gujarat has witnessed a significant decrease of 32.86%. This year, only 47,094 hectares have been dedicated to Moong sowing, compared to the 70,146 hectares sown last year.
Conversely, across India, there has been a notable increase of 7.82% in Moong cultivation for the summer crop as of May 12. This year, a total of 16.14 lakh hectares have been allocated to Moong sowing, marking a significant rise from the 14.97 lakh hectares sown during the same period last year.
As per technical chart - Desi Moong (Jaipur) - Counter trend decline / Next support at Rs 8,300. Click here
Trend: Moong prices are anticipated to face downward pressure due to various factors. Firstly, the arrival of the new summer Moong crop has already begun in major producing centres such as M.P., U.P, and Gujarat, and it is expected to intensify in the upcoming days. Additionally, ongoing arrivals of the rabi crop in Andhra Pradesh's Guntur and Krishna districts, along with Markfed selling in Madhya Pradesh, contribute to the bearish trend.However, there is a possibility of some support for Moong prices at lower rates due to the absence of old Moong stocks among millers and traders.Furthermore, government procurement at the Minimum Support Price (MSP) in Madhya Pradesh and a shift in demand from Tur to Moong, prompted by higher Tur prices, could offer some resilience to Moong prices.
(By Commoditiescontrol Bureau: 09820130172)
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