MUMBAI, 19 Nov (Commoditiescontrol): Moong prices traded firm at Jaipur during the week ending 19th Nov 2022 as sellers remain inactive, of good quality at lower rates as well as decreased in kharif crop arrivals. Also ongoing procurement by the Rajasthan state government has extended support.
At the Jaipur market, Moong's price traded higher by Rs 50 at Rs 5,500-7,350/100Kg as per condition.
On the other hand, Rajasthan origin new Moong traded lower at Rs 7,250/100Kg, as per quality at Naya Bazaar market of Delhi.
Processed Moong traded lower by Rs 100/100Kg at Jaipur and Gulbarga market due to slow offtake at higher rates.
As on Nov 19, 2022, NAFED has procured 20,364 MT of Moong at MSP of Rs 7,755 under PSS during the 2022 Kharif season. Maharashtra:10 MT & Karnataka 20,354 MT.
Government procurement of moong has stopped at Hisar. So far 8,831 qtls have reached the market. Out of this, the government has procured 7,953 qtls. While 878 qtls were bought from the private agency. The last date for government procurement was Nov 15.
As per technical chart - Desi Moong Jaipur - Failure at key resistance (Rs 7,500)/ Next support at Rs 7,000. Click here
Trend - Moong prices traded firm in Rajasthan this week as sellers remain inactive of good quality, less arrivals and also ongoing procurement by a government agency. However, the offtake in processed Moong was thin at higher rates. Overall, Moong price may get support on regular need base buying of good quality Moong and less arrivals. Meanwhile, procurement has completed at Haryana and ongoing procurement by the government agency in Rajasthan and Karnataka will support prices. But, prices may meet resistance at higher rates due to the selling of old procured Moong by government agencies. On the monthly trend, Moong (Jaipur) prices higher around 0.68%, weekly basis up by 0.68% and on annual basis riseup by 5%.
(By Commoditiescontrol Bureau; +91-22-40015513)