Commodity Picks: 30 April 2018

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Sugar

Sugar is trading at Rs 2,700 per quintal at the Rajkot market. In the coming days, prices are expected to fall to Rs 2,650 per quintal. Distress sales by mills due to higher sugar output and poor off-take from stockists and bulk consumer are keeping prices under pressure. Storage problems due to record output will further weigh on prices.

Commodity Tips

Chana

Chana is trading at Rs 3,514 per quintal price at the benchmark Bikaner spot market. For the week ahead, prices are expected to head towards Rs3,460. Weak demand from millers due to the lean season for consumption of products, mainly dal and besan, coupled with record output would keep the undertone weak in near term despite various measures taken by the government recently.


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