Commodity Picks: 13 April, 2020

Demand for crude palm oil is good across the house hold segment | Representative image
Crude palm oil

Crude palm oil (CPO) price at the Kandla market is at Rs 665 per 10 kilograms (kg). For the week ahead, prices are expected to head towards Rs 680 per 10 kg. Demand is good across the house hold segment. However, supply is insufficient due to low stocks in domestic pipeline and slow-down in harvest at major producing nations on the back of Covid-19 pandemic.

Soy meal

Soy meal is trading at Rs 32,700 per tonne at the benchmark Indore market. Prices for the week ahead are expected to head towards Rs 33,300 per tonne. Slow down in crushing operations due to low availability of seeds amid closure of mandis is creating acute supply tightness in soy meal.
Prerana Desai, Research Head - Edelweiss Agri Services and Credit

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