Moong Prices In India Is Low, Buying Here Could Be a Smart Move

The moong market shows signs of stability, with prices currently at a low level. Only Rajasthan is supplying moong for milling purposes, as other states' supplies have run out. With markets in Karnataka already empty, buying moong at current low prices carries no risk.

The market corrected after last month's price increase, causing a drop of USD 0,36 to 0,48 per kg. Moong stocks from Uttar Pradesh, Bihar, and Jharkhand are entirely depleted, driving up prices in those regions. In Rajasthan, average quality moong sells between USD 0,88 to 0,94 per kg, while good quality moong is priced at USD 0,95 to 0,96 per kg. Pulse mills are purchasing at these rates, suggesting a strong possibility of a USD 0,048 per kg increase soon.

Production and Stock Levels Support Market Stability

This year's moong production is estimated at 4.6 million metric tonnes, an increase from 3.8 million metric tonnes last year. The old stock remains around 800,000 metric tonnes, similar to last season. Despite the bumper crop, the market stayed stable, with current prices lower than last year's peak of USD 0,996 per kg. Continued purchases by pulse mills could push prices up by USD 0,048 per kg.

Favorable Conditions for Future Moong Sowing

High prices last year encouraged higher sowing in Bihar, Jharkhand, and Uttar Pradesh for the upcoming Rabi season. The Kharif crop from Maharashtra and Rajasthan also thrived due to favorable weather conditions, resulting in a bumper crop. Stockists and pulse millers, who previously slowed their purchases, are now buying actively.

Conclusion: Buying Moong Now Could Be a Smart Investment

Current low prices, limited supply, and strong demand from pulse mills make moong a low-risk investment. Market trends indicate a moderate price increase, providing a good opportunity for traders and stockists to secure their positions before the new crop arrives.

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