Commodity picks: 2 November, 2020

Mustard seed at the benchmark Jaipur market is trading at Rs 6,160 per quintal; Benchmark cotton S6 (29mm) in Gujarat is quoting around Rs 19,100 per bale

Mustard seed

Mustard seed at the benchmark Jaipur market is trading at Rs 6,160 per quintal. For the week ahead, the price is expected to head towards Rs 6,200 - 6,250 per quintal. Restricted selling from government agencies and low availability in the free market is expected to keep the price higher.

Cotton

Benchmark cotton S6 (29mm) in Gujarat is quoting around Rs 19,100 per bale. Record opening stocks, improved arrivals, and correction in global markets will result in the price coming down from the levels that are unexpectedly higher due to the crop damage reports. Expect the price to decline to Rs 18,500 or lower in the next couple of weeks

Prerana Desai, Research head, Edelweiss Agri Services and Credit