In order to guarantee sufficient supply of molasses for regional ethanol manufacturers, the government on Tuesday declared a 50% export charge on the commodity. Additionally, the import duties on edible oils were prolonged by an additional year. The current import levy on refined and crude edible oils, such as sunflower, soy, and palm, has been…
The Reserve Bank of India’s decision to permit Indian companies to hedge their gold price risk on recognized exchanges in the International Financial Services Centre (IFSC) will increase liquidity in bullion derivatives traded on the NSE International Financial Service Center and the India International Exchange, both of which are promoted by the BSE. Additionally, the…
The commodities transaction tax (CTT) has been asked to be totally eliminated or reduced in the upcoming budget, according to the Commodity Participants Association of India (CPAI). The CPAI has additionally asked the Finance Minister to put this recommendation into effect for at least two years. The sector (the commodities derivatives market), which has zero…
The World Bank predicted on Wednesday that after this year’s 60% increase in response to Russia’s invasion of Ukraine, energy prices will fall 11% in 2023. However, slower global development and Covid limits in China could cause a deeper fall. In its most recent Commodity Markets Outlook, the bank predicted that the price of Brent…
On Friday, the market began to weigh fears about high inflation as optimism about a potential increase in energy consumption in China faded. The price of Brent crude futures had dropped by 5 cents to $92.33 per barrel. The price of U.S. West Texas Intermediate futures increased by 7 cents to $84.58 per barrel. “With several…
The National Commodity and Derivatives Exchange has reported a 47% increase in average daily turnover at ₹1,857 crore in the financial year ended March 2022 against ₹1,261 crore reported in the last year. This was mostly driven by hike in agriculture commodity prices last year due to supply chain disruptions. The growth was despite suspension…
Gold prices high on April 18 in the global markets to their peak levels since mid-March, as the Russia-Ukraine crisis soured risk sentiment and drove investors to the safe-haven bullion. Gold futures on MCX jumped 0.73% or Rs 286 to Rs 53,378 per 10 grams. Silver futures also jumped 1.31% or Rs 901 at Rs…
On the Multi-Commodity Exchange (MCX), gold contracts were down by 0.01 percent, trading at Rs 52,871 for 10 grams, while silver goes up 0.23 percent at Rs 68,945 a kilogram. Today Gold prices were flat in the International markets, after gaining 1% in the last trading session, as Treasury yields eased after U.S. inflation data and concerns…
Oil was fallen down Wednesday morning in Asia, falling for a third consecutive day as concerns about the increasing numbers of COVID-19 cases globally dampen the fuel demand outlook. Brent oil futures inched down 0.03% to $72.39 and WTI futures edged down 0.20% to $70.42. Both Brent and WTI futures fell on Tuesday to their lowest levels since…
