Commodity picks: 6 April, 2020

Refined soy oil

Refined soy oil prices in Mumbai are trading at Rs 855 per 10 kg. Over the next few days prices are expected to trade firm and head towards Rs 865 and Rs 870 per 10 kg. Though domestic demand is need based, supply scenario is extremely tight due to logistic bottlenecks amid slowdown in transport hence prices are expected to rule firm in the near term at spot markets.

Chana

Chana prices in the Delhi market could move higher amidst limited availability as supply channels are getting impacted due to the national lockdown. Demand is also supportive, which is likely to take prices higher to Rs 4,350 from the current levels of Rs 4,300 per quintal.

Prerana Desai, Research Head - Edelweiss Agri Services and Credit