Weekly Review-Moong
27-Jan-2025 08:09 PM
Moong prices soften due to weak demand
It seems that the moong market has been relatively stable recently due to weak demand and limited buying activity from mills. Here's a summary of the trends:
Overall Market Conditions:
- Profit Booking: After recent price hikes, there was some profit booking, leading to a price decline.
- Weak Demand: Both dal mills and other buyers are not showing much interest, keeping prices stable or causing minor fluctuations.
- Reduced MSP Purchases: NAFED's reduced purchasing at MSP (minimum support price) is putting additional pressure on prices.
- Finished Goods Market: The slow sale of processed goods like Kaa and Dhoa indicates that the market might not see a significant price increase unless demand picks up.
Regional Trends:
- Delhi: Moong prices dropped by Rs. 100 per quintal, stabilizing between Rs. 7500 and Rs. 8100.
- Rajasthan: Prices fell by Rs. 100 to Rs. 200 per quintal, with markets like Jodhpur seeing prices between Rs. 6500 and Rs. 7800.
- Madhya Pradesh: Prices remained stable with no significant changes, hovering between Rs. 5000 and Rs. 8300 depending on the region.
- Karnataka: A slight decline of Rs. 100 to Rs. 150 per quintal, with prices ranging from Rs. 4500 to Rs. 8500.
- Maharashtra: Prices saw a small rise of Rs. 100 to Rs. 200 per quintal, settling between Rs. 5000 and Rs. 8650.
- Rajkot: No movement in prices, remaining at Rs. 7000/8000 per quintal.
Moong Dal: Prices of moong dal were also stable with no major changes. Prices ranged from Rs. 9500 to Rs. 12,200 per quintal, depending on the location.
Overall, the market seems to be holding steady, but the outlook for price increases looks uncertain unless there’s a surge in demand or increased purchases from dal mills.