Mumbai, May 5 (Commoditiescontrol): Mumbai, May 5 (Commoditiescontrol): For the second week ending May 5, 2023, the prices of Moong in Jaipur, Rajasthan, remained relatively stable, with both average and superior quality prices remaining unchanged due to limited mills' purchases. However, the new summer Moong from Vijaynagar, Kishangarh, Kekri, and Nagaur line traded at Rs 7,500-8,600/100Kg, depending on the quality, for Jaipur delivery.
In the Jalgaon market, the price of superior quality Moong traded weak by Rs 150/100Kg, as new summer Moong from Madhya Pradesh, Andhra Pradesh, and Karnataka lines became available at lower rates. The new summer crop Moong from the surrounding areas of Jalgaon traded at Rs 8,800-9,200/100 kg.
In Delhi, the prices for average and good quality Moong from Rajasthan origin increased by Rs 300 per quintal as a result of fresh mills buying for crushing operation.
Similarly, in Harda, new summer crop Moong prices for both average and superior quality rose by Rs 200/100Kg on mills demand. New Summer Moong price of Khirkiya, Khargone, and Bhikangaon traded at Rs 8,200-8,400/100Kg for Indore delivery trade, as per quality and condition. In Rajkot, new Moong traded at Rs 9,500-9,800/100kg, with arrivals of 200 katta.
However, in the bilty trade for Vijaywada delivery, the new Rabi Moong from the Guntur line experienced a decline for the second straight week, trading at Rs 7,300-7,450/100 kg compared to the previous week. Similarly, new Moong polish from the Krishna district traded down for the second week by Rs 100, depending on quality, at Rs 7,600-7,850/100 kg.
Due to fresh offtake, the prices of Moong dal processed from both average and superior quality in Jaipur moved higher by Rs 200 each, trading at Rs 9,500/100kg and Rs 10,200/100kg, respectively. On the other hand, in Gulbarga, the prices of Moong dal processed from both average and superior quality remained unchanged, trading at Rs 10,400/100Kg and Rs 10,500/100Kg, respectively.
Based on the most recent sowing data, Moong sowing for the summer crop in Gujarat has decreased by 32.95%, covering only 47,033 hectares this year compared to the 70,146 hectares sown last year.
On the other hand, India as a whole has experienced a 8.23% increase in Moong sowing for the summer crop as of May 5. This year, a total of 15.38 lakh hectares have been sown, which is a significant increase from 14.21 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 expected to decline in the upcoming weeks due to the increased supply of Summer and Rabi crops and additional supply from the Madhya Pradesh government. The state government has invited bids for disposal of 1.98 lakh MT Moong procured during the 2021-22 Rabi season, starting from May 8, 2023. However, Moong prices may receive some support at lower rates as there is an empty pipeline of old Moong among millers and traders. Moreover, government procurement at MSP in Madhya Pradesh and a shift in demand-consumption from Tur to Moong due to higher Tur prices may further provide some support to Moong prices.
(By Commoditiescontrol Bureau: 09820130172)
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