Festival season in India begins around August every year. So we should say we are right on the peak time 7€" a time when year's celebrations adequately benefit business, in all walks of life!
Ideally this also turns out to be a happening time for the stock market. And that is what prompts us to probe and find out which commodities can be most profitable for traders and investors during this festive season.
While it is true that precious metals, gold and silver continue to be the €darling' for many commodity traders, there is much more you might be missing on! So here is what's hot and why, in the opinion of experts:
Wheat:
You evidently know that wheat is the primary source in preparation of various festival dishes and therefore, wheat is already in demand.
In addition, wheat production this year has dipped as against previous year because of subdued monsoon. So you got enough reasons to stay bullish on wheat.
Let's look at it from NCDEX September Contract scenario too! The commodity is trading a per quintal price of 1,600 and expert say the price looks firmed at 1500/- a quintal. This again supports the bullish trend of wheat in months ahead.
Turmeric:
This period is usually optimistic for turmeric traders because of increased requirement in food and pharma industries. Therefore, demand for the commodity is expected to be high during September to December.
But more weight gets added by the figures in futures market and experts see them encouraging for the commodity traders. With a support already over Rs.6000/-, they don't deny it touching 8,000/- in the following weeks.
Sugar:
Sugar is that significant commodity without which celebrations and festivals cannot be imagined.
However, there is more favourable support for sugar prices. Commodity analysts foresee the irregular rainfall in Brazil, the largest sugar producer, to contribute the ongoing rally for sugar in domestic market.
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Jaggery or Gur:
Demand for the second top sweet commodity is on the rise during the year's festivity.
But this year, moderate to scanty rainfall have led to low production. Apparently, demand for gur may remain unfulfilled and this should sustain prices.
However, other chief analysts feel that per 40 Kg price of gur may decline to Rs.1160/-. But this fall would be momentary and they expect the prices to rise to Rs.1250 during the following months.
In spite of global cues to have large affected the precious metal prices during past couple of weeks, the festive time demand for gold and silver is expected to prevail. And so we can always add the two - gold and silver - in our list of highly profitable commodities of the year!
Have a great and profitable commodity driven festival!
Ideally this also turns out to be a happening time for the stock market. And that is what prompts us to probe and find out which commodities can be most profitable for traders and investors during this festive season.
While it is true that precious metals, gold and silver continue to be the €darling' for many commodity traders, there is much more you might be missing on! So here is what's hot and why, in the opinion of experts:
Wheat:
You evidently know that wheat is the primary source in preparation of various festival dishes and therefore, wheat is already in demand.
In addition, wheat production this year has dipped as against previous year because of subdued monsoon. So you got enough reasons to stay bullish on wheat.
Let's look at it from NCDEX September Contract scenario too! The commodity is trading a per quintal price of 1,600 and expert say the price looks firmed at 1500/- a quintal. This again supports the bullish trend of wheat in months ahead.
Turmeric:
This period is usually optimistic for turmeric traders because of increased requirement in food and pharma industries. Therefore, demand for the commodity is expected to be high during September to December.
But more weight gets added by the figures in futures market and experts see them encouraging for the commodity traders. With a support already over Rs.6000/-, they don't deny it touching 8,000/- in the following weeks.
Sugar:
Sugar is that significant commodity without which celebrations and festivals cannot be imagined.
However, there is more favourable support for sugar prices. Commodity analysts foresee the irregular rainfall in Brazil, the largest sugar producer, to contribute the ongoing rally for sugar in domestic market.
€
Jaggery or Gur:
Demand for the second top sweet commodity is on the rise during the year's festivity.
But this year, moderate to scanty rainfall have led to low production. Apparently, demand for gur may remain unfulfilled and this should sustain prices.
However, other chief analysts feel that per 40 Kg price of gur may decline to Rs.1160/-. But this fall would be momentary and they expect the prices to rise to Rs.1250 during the following months.
In spite of global cues to have large affected the precious metal prices during past couple of weeks, the festive time demand for gold and silver is expected to prevail. And so we can always add the two - gold and silver - in our list of highly profitable commodities of the year!
Have a great and profitable commodity driven festival!