Commodity picks: 15 May, 2017

Cotton prices corrected in recent weeks; Cardamom prices in Vandanmedu trading at Rs 1,239 per kg

Cotton

Indian cotton prices have corrected in recent weeks. But, a sharp rally in global cotton and domestic buying at lower levels will support Indian prices. Current spot price for the S6 (29mm) is around Rs 21,200 per bale (CAI). This could go up to around Rs 21,400 in the near-term.

Cardamom

Cardamom prices in Vandanmedu are trading at Rs 1,239 per kg. Prices are expected to trade higher towards Rs 1,270 in the coming days due to prevailing Ramzan demand and expectations of lower opening stocks for marketing year 2017-18.

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