With the corona Virus scare spreading wildly across the world, markets have become highly unstable. The cascading effect of this across sectors is something none can anticipate or predict. Everything has turned tipsy turvy and only the brave can venture in current scenario.
In India, new crops of most agri commodities have started and we are seeing contrary movement in many items. Items like TAMARIND, NUTMEG, GINGER, CHILLY where the crops have suffered damaged and have in turn, affected new crop arrivals – are seeing daily upsurge in local market prices. On the other hand, fears of a dying demand, has pushed prices of Cumminseed, Turmeric, Fenugreek, Mustard to multi-year lows.
Add to this fact, the sharp rise in the exchange rate of the USDOLLAR against the Indian Rupee, prices of Turmeric, Cumin, Fenugreek are poised at a very attractive levels and are a screaming buy. At the same time, levels of Tamarind, Ginger, Chilly are dangerously poised to shoot up when the USDOLALR Exchange rate starts to retreat when the Virus threat starts to subside.
All in all, money will be made by currently buying into every Indian agri commodity, however you need to be fleet footed to take advantage of it as this situation cannot prevail much longer.
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