Commodity picks: 16 May 2016

MUSTARD SEED

Mustard seed prices at the Jaipur spot market started the week on a firm note after strong cues from the international soy markets. But, most of the gains were trimmed, as domestic demand for mustard seed and its derivative products was low.

Summers usually being lean demand period for mustard oil and meal, prices for the derivative products are trading steady to weak. Also, with narrowing crush parity, demand from processors is also seen waning. Due to weak demand, prices are expected to head towards Rs 4,400 a quintal

JEERA

Jeera is trading at Rs 17,043 a quintal in the Unjha market. Prices are expected to trade higher towards Rs 17,400 in the coming week, after lower supplies in the domestic market and steady export demand. Total Jeera supplies for the marketing year 2016-17 is pegged at 412,000 tonnes against 431,000 tonnes last year, lower by 4.4 per cent

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Prerana Desai,
VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain Limited