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Amidst high volatility, overall market sentiments remained Bullish for most Agri Commodities as reports of droughts and falling water levels in reservoirs in many states, rising summer season demand and falling production reports kept trend firm.
The impact of a better Monsoon report will be more visible when the time of its arrivals approaches during end of May. Till that time, the adverse weather report prevailing now is likely to support market sentiments for most counters as demand-supply gap rises gradually.
With reports of many parts of India reeling under drought, the near to medium term market sentiments look firm for the Agri counters.