Commodity picks: 18 July 2016

COTTON

Cotton prices have rallied sharply in India and globally. In India, benchmark variety Shankar 6 has rallied 48 per cent since mid-March, without any meaningful correction. The current price of 29 mm is hovering around Rs 48,000 per candy.

From the next week, imports will start reaching in large quantities and that could provide a break to the rally. Prices could come down to around Rs 45,000-46,000 per candy.

CORIANDER

Coriander prices in Kota are trading at Rs 7,866 per quintal. Prices are expected to trade lower towards Rs 7,700 per quintal in the coming week following demand rationing at higher levels and cheaper imports from Russia and Ukraine.

 

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Prerana Desai,
Vice-president (research), Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain