Jeera prices in Unjha market are trading at Rs 19,217 per quintal. Prices are expected to trade higher towards Rs 19,500, following overall lower availability and resumption in export enquiries. However, price gains would be limited, given the lower domestic demand.
Cotton prices (29mm) in the benchmark Gujarat market are trading at around Rs 47,000 per candy (356 kg). The season's high price was recorded in mid-July at Rs 48,500. Prices are expected to correct further, as buyers switch to cheaper imports. The domestic consumption of raw cotton and exports of cotton yarn are lagging behind last year. Weather and pest, however, remain a real threat for this commodity and will limit downside. Prices could soften to Rs 46,000 or lower in the next week to 10 days.
Prerana Desai, Vice-president (research) - agri value chain, Edelweiss Integrated Commodity Management