 "Cotton")
Cotton
Benchmark cotton S6 prices in India are at an elevated level of Rs 48,000 per candy (356 kg). US cotton futures gave a very bullish reaction to the latest monthly world demand and supply update by USDA. Bullish global cues, and it being the fag end of the current season are expected to take the Indian cotton prices higher. Expect Indian cotton prices to touch Rs 49, 000 in the next few days.
ALSO READ: Commodity picks: July 9, 2018
Chana
Chana is trading at Rs 3,932 per quintal at the benchmark Bikaner market. In the coming days, prices are expected to head towards Rs 3,950-4,000 per quintal. Low availability in free market coupled with strong demand from processors would continue to drive prices higher in the near term.
Prerana Desai, VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain
