Commodities● Neutral
Moong prices hold above MSP as Karnataka arrivals show quality split
Hand-picked moong fetches Rs 8,600-10,300 per quintal vs Rs 7,000-8,500 for machine-harvested, as moisture content of 18-21% deters buyers despite a 4% drop in kharif acreage.
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Moong arrivals in Karnataka's Gadag market hit 12,000 quintals on Tuesday as the harvest got under way, trade sources said. The new crop is smaller than last year after acreage dropped because of a delayed monsoon and deficit rainfall, they added.
A miller in Gadag told that prices have eased a tad compared to few days ago as arrivals seemed better than expected. "However, the moistture content in the new crop is still higher at in the range of 18-21 per cent compared to the government norms of 12 per cent. Demand is yet to pick up as traders and millers are not keen on buying the produce with higher moisture content as it could create storage issues, while the summer crop from states like Madhya Pradesh and Gujarat is available at a lower price," the miller said.
Machine-harvested moong fetched between Rs 7,000 and Rs 8,500 a quintal. The produce looked dull and carried higher foreign material, sources said. Hand-picked moong went for Rs 8,600 to Rs 10,300 a quintal. The government set a minimum support price of Rs 8,780 a quintal. That means hand-picked moong is trading well above the MSP while machine-harvested lots are below it.