Commodity picks: 20 February, 2017
Mustard seed is trading at Rs 4,048 per quintal in the spot markets. For the current week, prices are expected to head towards Rs 3,980. Daily new crop arrivals of mustard seed are estimated at 1 lakh bags and going forward arrival pressure is expected to increase and weigh on prices.
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Maize is trading at Rs 1,477 per quintal in Nizamabad. Prices are expected to trade higher towards Rs 1,500 in a couple of weeks following resumption of buying by end-users at lower price levels. However, price gains would be capped by usage of cheaper imported wheat in cattle and poultry feed industry.
Prerana Desai, VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain