Sugar stocks on Tuesday came under selling pressure after media reports indicated that restrictions were likely to be imposed on exports to protect food supplies in the country. The Government is planning to limit sugar exports at 10 million tonne (MT) for the marketing year that runs through September, in order to ensure that there…
Chana procurement increased to 20.41 lakh tonnes (lt) on Monday. Maharashtra, so far, tops the list of States with over 6.61 lt having been procured, closely followed by Madhya Pradesh at 6.13 lt and Gujarat at 5.35 lt. Procurement of chana at minimum support price (MSP) by organizations such as NAFED and FCI has crossed…
Indian tea prices have fallen by 20% in a month as arrivals increased in auctions amid dull demand. Price of the Orthodox tea variety has seen a pick-up in the awake of weak sri Lankan shipments following economic trouble in the country. But Orthodox tea constitutes only around 10% of the total tea produced in…
Gold prices in India were trading in the green with soft gains on Tuesday, mirroring the trend in the global markets. On Multi Commodity Exchange, gold June futures were trading 0.20 per cent up at Rs 51,010 per 10 gram, as against the previous close of Rs 50,907. Silver July futures were trading at Rs…
The reduction in petrol prices on account of excise duty cut by the Central government is expected to provide a much needed break for the two wheeler segment. While the rural economy is showing signs of improvement, petrol price reduction, along with the opening up of schools and colleges, should forecaster well for two wheeler…
The Solvent Extractors Association (SEA) of India expects that the soyabean crop is likely to be lower at 10 million tonnes (mt) against the government’s estimate of 13.83 mt during the current season to June. The Union Ministry of Agriculture and Farmers Welfare’s third advance estimate for major crops had estimated the oil seeds output…
Oil prices are up in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai ready to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures raised 82 cents to $113.37 a barrel, while U.S. West Texas…
The rupee increased 4 paise to 77.66 against the U.S. dollar in the early trade on Monday as a positive trend in domestic equities and weak American currency overseas supported the local unit. However, unrestricted foreign fund outflows and increasing crude prices in the global markets restricted the rupee’s gain, forex dealers said. Moreover, U.S….
As per the new order, an export duty of 15% will be imposed on hot-rolled and cold-rolled alloy and non-alloy flat steel products (of 600 mm or more width). Also, a 15% duty will be imposed on exports of hot-rolled bars and rods, other bars and rods of iron or non-alloy steel, flat-rolled products of…
Retail inflation based on the Consumer Price Index (CPI) increased to near 8-year high in April to 7.79%. The previous high was noted in May 2014, when retail inflation rate touched 8.33%. The continuous fuel price hike likely had a climbing effect on the final price of various products. Also, increasing global prices of commodities…
