Commodity picks

Mustard seed
Mustard seed at the Jaipur spot market is trading at Rs 5,161 per quintal. Spot prices continued to surge and tested a new record last week, following acute supply tightness. Daily arrivals declined to 70,000 bags as compared to 85,000 the previous week. Strong seasonal demand for oil might continue to support demand from processors. Prices could continue to trade with positive bias for the week ahead and test a Rs 5,200-5,225 per quintal.

Maize

Maize prices in Gulab Bagh are trading at Rs 1,538 per quintal. Prices are expected to rise towards Rs 1,570 per quintal, following thin inventories with end-users and restricted availability in the domestic market. Imports are expected to be lower due to non-GMOstocks being at a multi-year low in Ukraine and Russia.

Prerana Desai, VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain