Commodities Which Will Outperform In 2013
Maize:
Previous year, till December 6, the price of maize surged by 20 per cent to
1,500 per quintal on the National Commodity and Derivatives Exchange (NCDEX). The momentum may prolong in 2013.
Advance agriculture ministry estimates peg the 2012-13 kharif production at 15.89 mt, 6.5 per cent down from the final estimate of 2011-12. Exports trade may rise as Indian prices are lower than what rivals from South America are quoting. The US Department of Agriculture estimate global production in 2012-13 is likely to be 839 mt, 4.5 per cent less than last year.
SMC's Aggarwal says, "Maize may move in the higher range of
1,700-1,750 and find strong support at
1,350 on the NCDEX."
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Zinc:
The International Lead and Zinc Study Group says the demand for zinc exceeded production in the third quarter. In September 2012, demand was 10.42 lakh tonnes as against production of 10.40 lakh tonnes.
For 2012 till December 6, prices have risen over 12 per cent to 110 per kg. Amarsingh Deo, head of commodities and currencies, Aditya Birla Money, is bullish on zinc for 2013. "We expect revival of demand from China as the country is indicating a reversal in slowdown. Zinc has resistance at
111 per kg and support at
103 per kg. Any break above
111 will most likely take prices towards
115 per kg and then towards
120 per kg."
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