 "Commodity picks")
Guar seed prices in the Jodhpur physical market are trading at Rs 3,666 a quintal. Prices of the seed are expected to trade lower towards Rs 3,450 a quintal. Poor demand from foreign buyers and excess supply in the domestic market, along with excellent crop condition, would keep prices lower. However, the monsoon so far has been above normal in the seed growing region. Continuation of rains closer to harvest are capable of impacting the crop, as well as quality.
Chana spot is currently at around Rs 4,600 a quintal basis NCDEX Delhi. Chana prices are likely to move higher in the coming months on festive demand. Availability in the market is thin and expected to remain tight till October, after which imports from Australia starts arriving. We believe the improvement in demand will prove to be bullish and prices are likely to rise to Rs 4,700-4,800 a quintal in the short term.
Prerana Desai, Vice President-Research - Agri Value Chain, Edelweiss Integrated Commodity Management