Moong & urad to cool down as arrivals begin
Prices of moong and urad are expected to come down as arrival of both these kharif pulses have started at Maharashtra and Karnataka.
By NIDHI SHARMA, TNN |
MUMBAI: Prices of moong and urad are expected to come down as arrival of both these kharif pulses have started at Maharashtra and Karnataka. Traders feel that even government agencies should offload their stocks in the market as drop in prices will lead to losses.
Initial estimates by traders report a good crop of moong and urad with acreage going up this season. Price of moong in Maharashtra is around Rs 2,300-25,00 per quintal while urad is Rs 2,400 per quintal. "I expect moong prices to come down to Rs 2,000 levels and urad to Rs 1,900," said Jalgaon-based trader Satish Mittal.
Nafed managing director Alok Ranjan told ET that most of the stocks of moong have been sold in the domestic market while entire urad will be disposed off by mid of September. "We are aware of the downward pressure on the prices with the onset of arrivals and will ensure that the stocks are disposed by mid September," Mr Ranjan said.
Currently, 20,000-25,000 bags per day(1bag=100kg) of moong are arriving in Maharashtra and around 25,000 bags at Karnataka. Arrival of moong in Madhya Pradesh and Andhra Pradesh would start from first week of September while arrivals from Gujarat would start from October. Arrival of urad from Maharashtra and Karnataka would start in full form from September 10-15 followed by Gujarat, UP and MP by end of September.
According to Mr Mittal, domestic production of moong is expected to go up by 12 lakh tonnes while production of urad is expected to increase between 10-12 lakh tonnes over last year. Government agencies STC, MMTC, PEC and Nafed till July have contracted to import 10.40 lakh tonnes of pulses, of which 2.43 lakh tonnes have arrived.
STC and PEC have floated tenders to sell in the domestic market over 14,400 tonnes of imported pulses while Nafed has disposed of 40,000 tonnes out of 50,000 tonnes that was received. Only Nafed has contracted other pulses like moong, urad in addition to yellow peas while other state agencies have contracted yellow peas which arrive late.
Initial estimates by traders report a good crop of moong and urad with acreage going up this season. Price of moong in Maharashtra is around Rs 2,300-25,00 per quintal while urad is Rs 2,400 per quintal. "I expect moong prices to come down to Rs 2,000 levels and urad to Rs 1,900," said Jalgaon-based trader Satish Mittal.
Nafed managing director Alok Ranjan told ET that most of the stocks of moong have been sold in the domestic market while entire urad will be disposed off by mid of September. "We are aware of the downward pressure on the prices with the onset of arrivals and will ensure that the stocks are disposed by mid September," Mr Ranjan said.
Currently, 20,000-25,000 bags per day(1bag=100kg) of moong are arriving in Maharashtra and around 25,000 bags at Karnataka. Arrival of moong in Madhya Pradesh and Andhra Pradesh would start from first week of September while arrivals from Gujarat would start from October. Arrival of urad from Maharashtra and Karnataka would start in full form from September 10-15 followed by Gujarat, UP and MP by end of September.
According to Mr Mittal, domestic production of moong is expected to go up by 12 lakh tonnes while production of urad is expected to increase between 10-12 lakh tonnes over last year. Government agencies STC, MMTC, PEC and Nafed till July have contracted to import 10.40 lakh tonnes of pulses, of which 2.43 lakh tonnes have arrived.
STC and PEC have floated tenders to sell in the domestic market over 14,400 tonnes of imported pulses while Nafed has disposed of 40,000 tonnes out of 50,000 tonnes that was received. Only Nafed has contracted other pulses like moong, urad in addition to yellow peas while other state agencies have contracted yellow peas which arrive late.
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