Commodity picks: 29 June, 2020

Mustard seed

Mustard seed is trading at Rs 4,838 per quintal at the benchmark Jaipur market. For the week ahead, prices are expected to head towards Rs 4,765 per quintal. Weak demand for oil would slow down demand from processors. Also, supplies have improved in the free market with NAFED commencing the sale of procured material.

Chana

Chana prices have gained on the back of lower arrivals amid recovery in demand at lower prices. However, post the recent gains, demand is slowing down. Prices in the coming week can witness a correction on account of reduced demand from Rs 4,281 to Rs 4,200 per quintal in the Delhi market.

Prerana Desai, Research Head – Edelweiss Agri Services and Credit