Coffee Exports Up 19% Despite Lower Volumes
India’s coffee exports increased 19% YoY to $616 million in Q1FY25, despite an 18% drop in export volumes due to higher global prices. The unit value per tonne rose 49% to ₹5.07 lakh, driven by supply disruptions in Brazil and Vietnam. Despite lower volumes, shipments rose 26% in value to $1,166 million in Q1FY25. Italy…
Silver prices rise on US economic growth concerns
Yesterday, silver prices rose 0.75% to close at $107,518. This came as the US dollar weakened on ongoing concerns about trade and government spending. The US Federal Reserve chairman said that if it were not for the price hike caused by the president’s taxes, more interest rate cuts would have already taken place. Job cuts…
Aluminium Rises on Raw Material Supply Fears
Aluminium futures closed slightly higher at 248.95 due to supply risks in the raw material market and optimism about stable manufacturing demand. Guinea’s fragile situation, where disagreements between the Guinean government and Emirates Global Aluminium threaten to disrupt mining licenses, has limited exports and caused China’s bauxite imports to fall 21%. Total inventories across LME…
Gold prices rise on trade uncertainty and weak US dollar!!!
Gold prices rose 1.22% to ₹97,251 on concerns over US trade deals and government spending. The US dollar weakened as investors worried about the government’s big spending and tax cut plans, which could lead to more borrowing. This made investors move their money into safe-haven assets like gold. Many expect the Federal Reserve to cut…
Jeera Rises on Strong Exports, Geopolitical Easing
Jeera futures settled at 20,115, boosted by export inquiries and easing geopolitical tensions. Indian farmers hold around 20 lakh bags of cumin, with only 3-4 lakh expected to be traded by season-end. India’s cumin production is estimated at 90-92 lakh bags, lower than last year’s 1.10 crore bags. Production in Gujarat and Rajasthan is pegged…
Soybean sowings fall by 5% due to low soybean prices!!!
The Soybean Processors Association of India (SOPA) expects a 5% decline in soybean sowings this kharif season due to low soybean prices for the past two years. Many farmers are switching to crops like cotton, arhar and maize, which can yield better returns. Although the monsoon rains were on time, some farmers in Madhya Pradesh…
Oil prices fall as Middle East tensions ease, OPEC+ plans more supply
Oil prices fell in Asian markets on Monday as concerns about Middle East supply problems began to fade. The main reason for the decline was an expected increase in OPEC+ oil production. Traders had previously reduced the “risk premium” they had added due to tensions between Iran and Israel. Now that those tensions have eased…
Turmeric Rises on Short Covering, Acreage Worries
Turmeric prices rose by 1.2% to 14,000 due to increased acreage during the current sowing season. Monsoon conditions are encouraging farmers to expand turmeric cultivation, with an estimated 3.30 lakh hectares for the 2024-25 season. However, untimely rains and crop rot issues may reduce yields by 10-15%. Market arrivals remain steady, with 13,660 quintals reported,…
Natural Gas Falls on Rising Output and Storage
Natural gas prices fell by 3.34% to 300.9 due to rising output, strong inventory builds, and reduced LNG exports. Despite hotter-than-usual temperatures in the U.S., production in the Lower 48 states averaged 105.5 billion cubic feet per day (bcfd) in June, slightly higher than in May. The key weight on prices is the growing storage…
Jeera Rises on Short Covering After Price Drop
Jeera prices have rebounded by 1.9% to 19,610 per quintal, driven by short covering after weak post-retail season demand. Traders reported subdued momentum in both domestic and export markets, with foreign buyers remaining largely inactive. Market sentiment remains cautious due to ample supplies and sluggish export activity. Farmers hold around 20 lakh bags, with only…
