Lentils Market Drifts Sideways as Indian Moong Demand Stays Subdued

Indian moong lentil prices remain dull in June 2026 as export and mill demand stay weak, keeping the market locked in a narrow range. Without a clear catalyst from overseas buyers or domestic processors, a meaningful price recovery in lentils looks unlikely in the very short term. The broader lentil complex is reflecting the same tone: buyers are covering mainly nearby needs, while comfortable stocks and only moderate import interest from key destinations limit upside. In India’s physical markets, moong is trading quietly with buyers purchasing only hand-to-mouth, mirroring global reports that ample supplies and cautious demand are capping price rallies. FOB offers from China and Canada show only small week‑on‑week adjustments, underlining a largely sideways market where sentiment is more defensive than bullish.

Prices & Recent Moves

In New Delhi’s wholesale market, moong (green gram/lentil segment) is quoted around USD 85.39–88.57 per quintal, with trade described as slow and uninspiring. Buyers are restricting purchases to immediate requirements, which prevents any sustained up-move in spot values.

Global lentil benchmarks also appear broadly steady. Recent indicative US farm and wholesale prices for lentils imply a relatively low-cost environment compared with the past two seasons, consistent with adequate supplies and softer demand.

Supply & Demand

On the demand side, Indian export buying for moong is currently soft, and domestic dal mills are also limiting intake, resulting in a sluggish spot market. Market participants in New Delhi note that fresh demand is needed for any major recovery, reinforcing expectations that prices will remain range‑bound in the near term.

Internationally, Canada and Australia remain key exporters, with Canada alone accounting for nearly half of global lentil export value in 2025, highlighting that destination demand can quickly shift if India re‑enters the market as a larger buyer later in the season.

However, current industry commentary from North America suggests buyers are in no rush to chase prices higher given comfortable global availability and cautious forward demand from South Asia and the Middle East.

Fundamentals & Weather

Fundamentals for moong and other lentils in India are shaped by adequate near‑term supplies and concerns about the upcoming monsoon. Government and industry discussions point to a risk of a deficient monsoon in 2026–27, which could impact pulses output later, but this has not yet translated into aggressive nearby buying.

In Western Canada, early‑season conditions for pulses have been mostly favourable, with seeding largely completed and only localised weather risks reported so far. While severe thunderstorm systems have passed parts of Saskatchewan and Manitoba, no widespread production losses have been reported yet, so supply expectations remain broadly comfortable.

Trading Outlook

• Short term (next 1–3 weeks): Expect moong and other lentil prices to remain range‑bound, with New Delhi wholesale levels and FOB offers in China and Canada holding close to current marks unless a sudden spike in Indian or export demand emerges.
• For buyers: Hand‑to‑mouth coverage remains justified; consider gradually extending coverage on any dips, especially for higher‑quality green and organic lentils, given longer‑term monsoon risks.
• For sellers: With export demand subdued, aggressive price hikes are unlikely to succeed; focus on maintaining volume and quality, and be prepared for selective hedging if weather or policy news tightens the outlook later in the season.

3‑Day Directional View (EUR Terms)

• India physical moong (New Delhi): Stable to slightly soft in EUR; sluggish demand and limited mill buying dominate.
• China small green lentils FOB: Largely stable; minimal week‑on‑week changes expected as global demand is cautious.
• Canada green and red lentils FOB: Sideways to marginally weaker in EUR; exporters remain competitive but not under strong upward price pressure.