Indian Green Gram Weakens as New Crop Builds, Keeping Global Lentils Cautious

Indian green gram (moong) markets softened over the past week as early summer arrivals met cautious stockists and sizeable government inventories, creating a heavier tone that is likely to keep a lid on nearby lentil and pulse prices. Processed moong values remain better supported by retail demand, but the underlying message for global pulse markets is one of comfortable to growing supplies rather than scarcity. Indian green gram, while technically distinct from lentils, competes directly with them in many importing and consuming markets across Asia and the Middle East. The current bearish undertone in moong therefore acts as a cap on upside for lentils, especially in nearby periods. At the same time, export offer levels for Canadian and Chinese lentils have been broadly steady in recent days, pointing to a market that is well supplied and fundamentally range-bound rather than trending sharply in either direction.

Prices & Spreads

New summer green gram in India has started to arrive in key wholesale markets such as Jabalpur (Madhya Pradesh), with good-quality grain trading around USD 72.71–76.87 per quintal and lighter grades at USD 63.47–66.60 per quintal. Stockists have trimmed bids by roughly USD 1.04 per quintal week on week as they brace for larger inflows and face the overhang of roughly 400,000 tonnes of government-held moong stocks.

On the processed side, green gram split (chilka) is holding broadly steady at about USD 95.63–119.48 per quintal, while washed moong (dhoya) trades near USD 90.44–118.44 per quintal, signalling better support from consumer and food-industry demand. In contrast, the closely related moth bean has rallied by roughly USD 1.30–1.56 per quintal to around USD 57.26 per quintal, and the processed moth bean (dhoya) has firmed to approximately USD 74.48 per quintal as arrivals dry up and low stocks amplify the squeeze on buyers.

In the global lentil trade, export offers have been comparatively stable. Recent FOB indications converted to EUR suggest Canadian bulk dried lentils are trading roughly around EUR 2.30/kg for red "football" types and about EUR 1.45–1.50/kg for green origins such as Laird and Eston, while Chinese small green lentils are quoted in the vicinity of EUR 1.00–1.10/kg, depending on organic status and quality. These levels have seen little change over the past week, reinforcing the impression of a sideways market.

Supply & Demand Balance

India’s summer green gram planting has reached roughly 20.07 lakh hectares as of 8 May 2026, slightly above last year’s 20 lakh hectares. This suggests a modest expansion in moong area and sets the stage for a new-crop supply that could surpass last year’s, especially given recent reports of strong rabi pulse output. The government’s moong Minimum Support Price has been raised by only 0.1%, a negligible increase that is unlikely to materially change farmers’ selling behaviour or incentivise additional planting.

The combination of larger sown area, advancing summer arrivals, and a sizeable public stockpile of moong implies that domestic buyers in India can remain patient. For international lentil markets, this matters because India is both a large producer of moong and a key player in pulse trade flows. Comfortable to growing availability in the Indian moong segment reduces the urgency for importers in the Middle East and Southeast Asia to aggressively cover lentil needs in the near term, particularly where moong and lentils can substitute for one another in blends and formulations.

On the demand side, retail and food-industry use of processed moong (split and washed) continues to underwrite baseline consumption, keeping spreads between raw and processed product relatively firm. However, there is limited evidence of demand shock or structural acceleration in pulse consumption that would quickly absorb the prospective increase in Indian moong supply. This leaves the balance of risks skewed towards adequate or even burdensome availability across the broader pulse complex, including lentils, in the weeks ahead.

Fundamentals & External Drivers

Fundamentals for green gram are currently dominated by three factors: incremental acreage growth, accelerating market arrivals, and the weight of government inventories. Together, these elements are pressuring spot prices despite the resilience of the processed segment. Traders report that the fear of faster arrivals alone has been sufficient to push stockists to lower their bids, even before volumes have fully materialised in many mandis.

In contrast, moth bean is moving in the opposite direction, rallying on negligible arrivals and low pipeline stocks. This divergence within the Indian pulse complex underlines how quickly market tone can flip once supplies tighten. While moth bean is a more niche pulse compared with lentils or moong, its current strength offers a cautionary example for lentil market participants about the potential speed of a shift if weather or logistical disruptions were to curtail availability later in the season.

At the global level, the pulse industry has just concluded a major sector gathering, reinforcing expectations of steady medium-term growth in pulse consumption and trade. Nonetheless, macro-level insights from recent pulse outlooks and conferences still point to near-term comfort in supply for many segments, including lentils, following robust harvests in key exporting regions and subdued import growth in some traditional demand centres. This broader context supports the current pattern of generally flat export offers for lentils, despite localised tightness in a few minor crops.

Weather & Short-Term Outlook

Weather conditions in India’s summer pulse belt will be closely watched over the coming month, but at this stage there are no widespread reports of major weather damage to the newly sown moong crop. Assuming typical early-monsoon patterns hold, field conditions should be sufficient to bring the anticipated larger crop to market, reinforcing the bearish tilt in raw moong prices. Any abrupt shift towards excessive rainfall or prolonged dryness would quickly become price-relevant but is not yet the base case.

Given the current trajectory, green gram is expected to remain on the defensive over the next two to four weeks as arrivals build, with wholesale prices likely to trade in a corridor roughly equivalent to USD 68–77 per quintal. In this environment, lentils are also likely to face headwinds in pushing significantly higher, particularly in markets where importers can substitute towards moong or other pulses if lentil prices outpace the broader complex.

Trading & Risk Management Signals

• Importers in South Asia and MENA: With Indian moong supplies building and government stocks substantial, consider a patient, staggered approach to nearby lentil coverage. Focus on scaling in purchases on dips rather than chasing small rallies, particularly in red lentils that compete directly with moong in value-oriented consumer segments.
• Exporters in Canada and China: Given largely flat FOB values and the bearish tone from India’s green gram segment, prioritise execution and basis management over outright price risk. Use any modest bounces driven by logistics or currency noise to advance sales, especially for higher-priced red types.
• Food manufacturers and packers: This is a favourable window to secure coverage for Q3–Q4 lentil requirements, taking advantage of the current sideways market and stable spreads between raw and processed pulses. Consider selectively broadening pulse blends to include more moong where supply is ample, keeping overall input costs contained.

3-Day Directional Price View (EUR)

• Canadian red lentils (FOB): Mildly negative to sideways over the next three days, with offers expected to remain close to current levels around EUR 2.30/kg.
• Canadian green lentils (Laird/Eston, FOB): Sideways bias near EUR 1.40–1.50/kg as buyers show limited appetite to pay up in the face of comfortable global pulse supplies.
• Chinese small green lentils (FOB): Sideways to slightly softer, hovering around EUR 1.00–1.10/kg, pressured at the margin by competitively priced alternatives in the pulse basket.