Net sugar output for the 2023–24 marketing year has decreased somewhat, to 280.79 lakh tonnes thus far
According to trade data issued on Monday, India’s net sugar production decreased slightly to 280.79 lakh tons as of March 15 of the current marketing year, which began in October 2023. The Indian Sugar Mills Association (ISMA) released a statement saying, “Sugar production till 15th March 2024 in the current 2023-24 season reached 280.79 lakh…
Forecasts of colder weather caused natural gas to spike
With predictions of colder weather and higher heating demand over the next two weeks, natural gas saw a significant spike of 2.46% yesterday, closing at 141.7. This change in weather forecasts helped to boost market confidence, as did a persistent decline in U.S. output after petrol prices fell to a 3-1/2-year low in February. Due…
Prices rose below normal supplies, causing turmeric to drop on profit booking
Due to profit booking, turmeric prices saw a minor decrease of -0.6% yesterday, ending a period of upward bias driven by below-normal supply and strong festive demand. Yesterday’s closing price was 17544. The slower arrival pace than the previous year is indicative of lesser production, which may encourage stockists to purchase turmeric at every price…
Global threats and a restricted supply of crude oil are driving higher prices
Oil prices ticked up in early Asian trading on Monday, firming up gains from last week when prices rose nearly 4% on the view that supply was tightening. Brent crude oil futures for May delivery inched up 3 cents to $85.37 a barrel by 0045. The April contract for U.S. West Texas Intermediate (WTI) crude…
The demand for a haven amid heightened war and inflation risks propelled Silver Rose
Due to increased demand for safe-haven assets amid rising geopolitical tensions and worries about inflation threats, silver prices increased by 0.56% Wednesday, closing at 75650. Before the U.S. elections, investors sought solace in silver due to rising prices and inflation, which complicated the Federal Reserve’s ability to manage economic stability through policy actions. Economic data,…
Jeera Accomplished In Short Coverage
After a recent decline owing to increasing acreage in the major producing states of Gujarat and Rajasthan, jeera prices saw a minor uptick of 0.45% yesterday, finishing at 24440. This increase was mostly driven by short covering. Farmers greatly increased cultivation in response to the previous marketing season’s record prices, resulting in a four-year acreage…
Increased tur dal prices drive up government procurement costs mandi prices are nearly half as high as MSP
The minimum support price (MSP) of Rs 7000 per quintal for tur dal is almost 50% higher than the mandi rates. As a result, government agencies are finding it difficult to buy the pulse variety directly from farmers at market prices to create a one million-tonne buffer. Only 20,000 tons of tur dar have been…
A look at how shareholders would be impacted by SEBI’s introduction of T+0 settlement
The Securities and Exchange Board of India (SEBI), the capital markets regulator, will provide the beta version of the T+0 settlement on an optional basis starting on March 28, 2024, to boost market liquidity. SEBI announced the implementation of a new optional settlement cycle, saying, “The Board approved the launch of a beta version of optional…
Oilmeal shipments increased 34% in February, driving boosting oilmeal exports by 9%
India saw a 9% rise in oil meal exports in February 2024, driven by a 34% increase in soya bean meal exports. Total oil meal exports reached 5.15 lakh tonnes, up from 4.71 lakh tonnes in February 2023. The Solvent Extractors’ Association of India reported a year-on-year increase in overall oil meal exports to 44.90…
The National Cotton Committee projects increased yields, exports, and consumption
The CCPC, comprising key stakeholders in cotton production, raised export and consumption projections for the current season, while also increasing crop estimates. In Mumbai, the Cotton Advisory Board, formerly CCPC, decreased last season’s production and upped import estimates during a recent meeting. The current season’s production is forecasted at 323.11 lakh bales, contrasting with last…