Stable Moong Prices Expected As Production is High in India
Moong Market Stabilizes As Supply Increases
The Indian moong market is showing signs of price stabilization following a notable rise in production. While the initial surge in supply led to a price dip, strategic holding by pulse mills indicates that further declines are unlikely. This scenario sets the stage for profitable trading opportunities as the market adjusts to the higher output.Production Soars Across Key Regions
Moong production has surged to 4.4 million tonnes this year, compared to 3.6 million tonnes last year. Major growing regions such as Rajasthan—particularly Crab Kishangarh, Shekhawati Merta, Bikaner, Jodhpur, and Jaisalmer—are reporting robust harvests.The increased supply has pushed prices down from last year’s high of $1,00 per kg in Rajasthan to the current $0,89 per kg.
High Sowing Influenced by Last Year’s Prices
Last year’s elevated prices encouraged greater moong sowing across Bihar, Jharkhand, and Uttar Pradesh during the Rabi season. Favorable weather during the Kharif season in Maharashtra and Rajasthan further boosted yields, leading to higher supply levels.As a result, prices in Delhi have corrected from $1,01–$1,02 per kg to approximately $0,88–$0,89 per kg, reflecting the expanded production.
Market Adjustments and Strategic Stocking
While September rains affected some crops, the quality of the late-sown crop has improved. Pulse mills, anticipating future price increases, are strategically stocking up, signaling confidence in the market’s stability. This trend suggests limited risk for traders investing at current price levels.With the Kharif crop already harvested and the next summer moong crop still seven to eight months away, market participants have ample time to absorb the current supply. Industry experts expect prices to rise moderately in January and February, presenting a favorable trading window for those looking to capitalize on the current stability.
Conclusion: Optimism in the Moong Market
Industry experts believe the current price stabilization offers a promising future for traders and investors in the moong market. With no immediate risks foreseen and a likely price increase in the coming months, the market presents an opportune moment for strategic purchases and investments.Click here to reach our trading platfrom CMBroker
