Commodity picks- 8 February 2016

Barley
Barley prices in Jaipur markets are at Rs 1,493 a quintal. Prices are expected to trade lower towards Rs 1,460 a quintal in the next couple of weeks, following higher stocks and improved weather along with likely lower export demand.

Chana
Chana prices are likely to correct further on dull demand and improved supplies. Domestic harvesting, coupled with arrival of imports, has improved the domestic supply considerably. The drop in temperatures and rainfall during the past week will improve the soil moisture and thereby improve yield prospects in Madhya Pradesh and Rajasthan. Hence, we opine chana prices are likely to edge lower in the short term. Potential target for spot Chana is Rs 4,250-4,200 a quintal.

 

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