 "Commodity picks: September 30, 2019")
Cotton
Cotton benchmark price of good quality S6 in Rajkot is at around Rs 19,800 (MCX). The crop is sharply higher compared to the lower base last year. Imports have also been much higher than expected. Export parity remains elusive at current prices. Negative global cues, subdued demand and adverse currency movements will take prices to around 19,000 per bale or lower in the next few weeks.
Cotton seed oil cake (CoC)
CoC prices at the benchmark Akola market are trading at Rs 3,400 per quintal. For the week ahead, CoC prices expected to decline by Rs 80-120 per quintal and head towards Rs 3,200 per quintal following commencement of new crop arrivals. Higher crop production estimate following improved monsoon rains further weigh on CoC prices.
Prerana Desai, Research Head - Edelweiss Agri Services and Credit
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