Commodity picks: 26 August 2019

Sugar is trading at Rs 3,287 per quintal in Kolhapur, Jeera prices in Unjha are trading at Rs 17,320 per quintal

Sugar

Sugar is trading at Rs 3,287 per quintal in Kolhapur. Prices may head  towards Rs 3,320 per quintal following anticipation of a sugar subsidy announcement and hike in ethanol prices. Disruption in supply and sugarcane losses due to floods in Maharashtra and Karnataka, lower selling quota and steady demand ahead of upcoming festivals will support prices.

Jeera
 

Jeera prices in Unjha are trading at Rs 17,320 per quintal. Prices are expected to trade higher in the near term and head towards Rs 17,600 per quintal. Robust export demand and weakness in the rupee against the dollar along with festival-related buying would keep the trend positive. 

Prerana Desai, Research Head - Edelweiss Agri Services and Credit