Moong prices have softened due to an increase in production, as well as the government's active procurement efforts. According to official data, the area sown with moong during the Kharif season has risen by 3.95 lakh hectares, from 31.50 lakh hectares last year to 35.45 lakh hectares this season.

Despite some crop damage from floods and rains, the Ministry of Agriculture estimates domestic production to rise by 2.30 lakh tons, from 11.55 lakh tons last year to 13.85 lakh tons this year.

In major producing states, such as Rajasthan, there has been a strong arrival of new moong. However, market prices have dropped below the Minimum Support Price (MSP) due to lower purchasing activity from millers, traders, and stockists.

To address this, the government has increased the MSP of moong by 1.4% compared to last year, setting it at Rs 8682 per quintal.

With market prices still falling below this level, government agencies have stepped in to purchase large quantities of moong in key producing regions.

The government's procurement target for the 2024-25 Kharif marketing season is set at 2,82,973 tonnes of moong.

The breakdown includes 2,03,305 tonnes in Rajasthan, 38,320 tonnes in Karnataka, 17,688 tonnes in Maharashtra, and smaller amounts in Gujarat, Telangana, Tamil Nadu, Uttar Pradesh, Haryana, and Andhra Pradesh.

By November 18, 2024, the government had already procured a total of 54,976 tonnes, with significant contributions from Rajasthan (32,508 tonnes) and Karnataka (21,456 tonnes). The procurement process is ongoing.