Moong which had been ruling steady for the past some time on subdued buying support in the past two to three days soared to a new high on improved buying support and weak arrival. Driven by higher demand, scarce arrival and delay in sowing of the next moong crop almost by a month due to a weak monsoon, moong (best) prices in the past one week have almost gone up by Rs 500 a quintal to Rs 4,900 a quintal, while moong (medium) ruled at Rs 4,000-4,200.
According to Mr Prakash Vora, a wholesale pulse trader, delayed sowing and fear of damage to new standing crops on account of deficient rains have primarily added to the bullish sentiment in moong. If rains continue to elude in the next week, the standing crop in all likelihood would suffer damage then prices would further scale a new high in the coming days, said Mr Vora.
Rise in spot moong also pushed up its dal with moong dal (medium) moving up to Rs 6,100-6,200 a quintal (Rs 5,900-6,,000), moong dal (bold) ruled at Rs 6,700 a quintal (Rs 6,400-6,500), while moong monger perked up to Rs 6,300-6,500 a quintal (Rs 6,000-6,300).
Driven by higher demand, moong dal in the past one week has also gone up by Rs 500 a quintal. The bullish trend also continued in tur on fear of lower crop output this year due to delayed monsoon. Backed by strong buying support and weak monsson, tur prices in the past one week has gone up by almost Rs 450 a quintal.
In the spot, tur (white) on Wednesday ruled at Rs 4,700 a quintal, while tur (red) ruled at Rs 4,500, tur (lemon) on the other hand was quoted at Rs 4,300 a quintal, while tur (Indore variety) ruled at Rs 3,800-4,000 a quintal.
Buying support and rise in prices of spot tur also perked up tur dal in the past one week by Rs 200 a quintal with tur dal (full) being quoted at Rs 6,300 a quintal, tur dal (sawa no.) at Rs 5,500-Rs 5,600, while tur marka ruled at Rs 7,100 a quintal.
With prospective decline in tur output this year because of decline in cultivable area, tur farmers are turning towards other cash crops such as soybean and gwar and future of tur appears to be bullish.
According to traders, with lower cultivable area, production of tur in the country is estimated to be around 20 lakh tonnes against 22 lakh tonnes last year. This is expected to fetch them better prices. With lower carryover stock of around 1-2 lakh tonnes this year, dependency on imported tur will increase, thereby adding to the bullish sentiment in tur in the coming days, said Mr Vora.