Moong

Prices of moong in the benchmark market of Jaipur were down, as supplies in local markets increased. Although arrivals in Kalaburgi are unchanged from previous close, they were higher from a week ago, and this was seen creating bearish sentiment. A sharp fall in prices of pulses was prevented because of concern about a smaller lower crop in Rajasthan and Karnataka.

The National Agricultural Cooperative Marketing Federation of India has offered 21,472.8 tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other warehouses in Andhra Pradesh, Madhya Pradesh, Haryana, and Rajasthan. In other tender, the nodal agency is also offering to sell 3.4 tonne of tur, currently stocked at Central Warehousing Corp in Telangana.

Prices of urad and moong are likely to soar 6-8% in key markets after the government decided to cap the import of the commodities at 300,000 tonne a year. The government’s decision to cap import on pulses was taken after traders sought restrictions on import to ensure better prices for the domestic crop.

Prices of moong in the benchmark market of Jaipur fell because of subdued demand from stockists and millers. Heavy rains and floods in Assam, West Bengal and Bihar have led to lower demand for the commodity from these respective states and this is seen weighing on prices.

There were no bids received for the 1,658.09 tonne of moong offered for auction by the National Agricultural Cooperative Marketing Federation due to higher reserve price. The reserve price fixed by NAFED was 4,280 rupees per 100 kg at the auction, while bidders expected a price of 3,560 rupees. The auction was held by MSTC Ltd, a regulatory authority for export of ferrous scrap.

The Madhya Pradesh government procured around 170,000 tonne of summer-grown moong in five weeks at a minimum support price of 5,225 rupees per 100 kg, including bonus. The procurement drive is underway at 71 centres in the state, procuring moong under the price stabilisation scheme since Jun 10. Initially, the state government targeted to procure 150,000 tonne of the pulse, but it now pegs the procurement to be around 200,000 tonne by Jul 31.

The Madhya Pradesh government procured around 144,000 tonne of summer-grown moong from Jun 10-Jul 10 at a minimum support price of 5,225 rupees per 100 kg, including bonus. The state government aimed to procure 150,000 tonne of the pulse, but it now pegs the procurement to be around 200,000 tonne by Jul 31.

NAFED offered 1,184.71 tonne of moong for auction through NCDEX e-Markets.

Prices of moong were down in the benchmark market of Jaipur because of sluggish demand from dal millers. In Jaipur, moong was sold down 100 rupees from previous close. Higher acreage under the pulse so far is also seen creating bearish sentiment.

Moong up in Jaipur on slight rise in demand.

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