Mumbai, 26 June 2024 (Commoditiescontrol):For the third consecutive session, Moong prices in major markets have remained stable to firm, influenced by a robust trend in Delhi, a key consumption center. Local traders report that buyer activity has increased following a recent price correction.
In major producing states such as Madhya Pradesh and Rajasthan, Moong prices have remained relatively stable. Notably, markets in Pipariya and Jaipur have seen a price increase of Rs 100 per quintal.
Analysts indicate that further price decreases are unlikely due to the expected rise in seed demand for Kharif acreage, which is anticipated to absorb current supplies. Additionally, the significant price drop observed earlier has reduced the likelihood of further declines from current levels.
Despite these factors, substantial price increases are not expected in the near term. The market is awaiting the resumption of government procurement, anticipated in response to record production levels and the expected sharp increase in Kharif acreage. Until then, Moong prices are projected to remain relatively stable.
Spot Moong Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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