Commodity picks

TURMERIC
Turmeric prices in the Nizamabad market are trading at Rs 8,312 a quintal. Prices are expected to decline, tracking good rainfall in the southern peninsula which can support crop conditions. Prices are expected to move towards Rs 8,200.

CHANA
Prices have witnessed a good correction in recent times. The price is attractive for pullback, as demand in the market is seen emerging at lower levels amid a tight supply scenario. Festive demand will attract buyers at lower levels. Imports from Australia will hit the Indian market only by November. We recommend buying chana between Rs 4,530 and 4,470 for a target of Rs 4,700-4,800, with a stop-loss below Rs 4,350.

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Prerana Desai,
Vice-president, research, agri value chain, Edelweiss Integrated Commodity Management