Moong Prices Stay Low, Good Time to Buy

Moong prices in Rajasthan, India have softened again, making it a good time for buyers. Supplies from other states have dried up, and no fresh arrivals are expected for at least the next five months. While Rajasthan’s harvest has been strong, stocks elsewhere, including Karnataka, have nearly depleted. The market recently saw some profit booking, which pushed prices down by USD 0,91 to 1,09 per kg after last month’s peak.

Limited Supply Expected Until The Next Season

With moong stocks in Uttar Pradesh, Bihar, and Jharkhand almost exhausted, traders are holding onto what little inventory remains. Pulse mills are now stepping in to buy at lower prices, particularly for average-quality moong, which has stabilized prices. There’s now a strong possibility of a USD 0,07 to 0,08 per kg increase in the coming weeks.

Currently, moong prices in Rajasthan’s wholesale markets range from USD 0,92 to 0,98 per kg for average quality, while premium varieties are selling at USD 1,00 to 1,01 per kg. Mills have started purchasing at these rates, indicating renewed buying interest.

Rising Production But Lower Carryover Stocks

Last year, the total moong production across Rabi and Kharif seasons was estimated at 3,8 million tonnes. This year, due to increased sowing in states like Maharashtra and Rajasthan, production is expected to reach 4,6 million tonnes. However, the previous season’s leftover stock is much lower—just 0,4 million tonnes, compared to 0,8 million tonnes last year.

Despite the bumper harvest, prices have dropped from USD 1,00 per kg to USD 0,98 per kg but are now showing signs of stabilization. With mills actively restocking, prices could increase by another USD 0,05 per kg.

Farmers Increased Sowing After Last Year’s High Prices

Moong is unique because it has both Rabi and Kharif crops, harvested at intervals of 3-4 months. Seeing high prices last year, farmers in Bihar, Jharkhand, and Uttar Pradesh expanded sowing in the Rabi season, leading to strong yields. Similarly, a favorable monsoon helped Maharashtra and Rajasthan’s Kharif crop, resulting in a bumper harvest.

Last year, stockists and pulse millers hesitated to buy at high prices between October and December. This miscalculation led to lower-than-expected consumption estimates. Now, with demand picking up, prices are stabilizing.

Conclusion

At the current price levels, there is little risk for buyers. With no major moong arrivals expected for months, traders and mills have started restocking. Those looking to buy should consider securing their stocks before prices firm up further.





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