Mumbai, 28 June 2024 (Commoditiescontrol): Across major markets, moong prices have exhibited stability and even hinted at slight firmness over the past four consecutive trading sessions. Local traders attribute this resilience to active participation from buyers following a recent correction in prices. In Madhya Pradesh and Rajasthan, prices have remained steady overall, with notable increases observed in markets such as Indore, Narsinghpur, and Jaipur, where prices climbed by Rs 100 to Rs 200 per quintal.
The cultivation of moong beans has kicked off on a promising note in North Gujarat and Rajasthan, while nearing completion in Maharashtra and Karnataka. This season, agricultural experts predict a significant increase in moong acreage, driven by favorable market prices and relatively lower costs compared to competing crops like soybean, moth, bajra, and cotton. Recent reports as of June 28 reveal that moong acreage has expanded to 5.1 lakh hectares, marking an 11.8% rise year-on-year. Karnataka and Maharashtra have shown robust sowing activities, whereas Rajasthan's figures indicate a slightly lower turnout.
Analysts note that after a significant decline in recent months, further drops in moong prices are likely to be minimal. However, they caution that significant upward movements may not materialize until government procurement initiatives resume, responding to optimistic production estimates for summer crop and the expected surge in kharif acreage.
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(By Commoditiescontrol Bureau; +91-9820130172)
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