Commodity Picks: 1 October, 2018

Commodity Picks: 1 October, 2018

Cotton prices, according to CAI, are at Rs 22,300 per bale for the benchmark variety of S6 in Gujarat


 Chana

Chana prices are expected to trade with a positive bias. Low stocks in free markets coupled with upcoming festive demand to keep the undertone firm in near term. Prices at the benchmark Bikaner markets are trading at Rs 4,050 a quintal, during the coming days prices are expected to head towards Rs 4,100-4,125 per quintal.


 Cotton

Cotton prices, according to CAI, are at Rs 22,300 per bale for the benchmark variety of S6 in Gujarat. The new crop harvest has begun in Punjab and Haryana. The arrivals will gather pace and bring the prices lower. But the chances of a sharp downside remain limited due to dryness concerns in Gujarat. In the near term the prices could continue to slide lower to Rs 21,300 per bale. If the global prices remain at the current level this correction could result in Indian cotton achieving export competitiveness.


Reference by : business-standard

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