Under the strain of arrivals, soyabean and groundnut prices may decrease to the MSP (minimum support price) levels set by the Center by Diwali, according to Ajay Jhunjhunwala, President of Solvent Extractors’ Association of India (SEA).The circumstance, according to Jhunjhunwala in his letter to the SEA members, will have a negative effect on farmers and…
Due to the strong US dollar, high oil costs, and volatility in the financial markets, the Indian rupee is anticipated to open weak. It is anticipated that USDINR(Spot) will trade favorably and quote in the area of 82.50-83.20. In the previous session, despite the foreign dollar weakening, the rupee recovered from its all-time lows to…
As chickpea (chana) prices have mostly remained below the minimum support price (MSP) levels of 5,230 per quintal this year, farmers in central India are expected to migrate over to planting greater acreage under wheat. The most common price at which transactions are made for chana is currently between Rs. 4,000 and Rs. 4,500 per…
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…
As the Guatemalan crop floods the Gulf region at reduced rates, Indian cardamom is losing its flavour on the export market. This has made it easier for GCC nations to purchase more Guatemalan cardamom, which is now going for $5–12 a kg compared to $10–18 in India, depending on the grades. M. Dhanavandhan, a cardamom…
Steamed rice has undergone some processing in the form of steaming before being made available for sale, according to the Food Corporation of India (FCI), which has informed the Food Ministry. Exporters should be relieved after shipments of steamed rice were stopped because Customs officials believed it to be non-basmati white rice and demanded payment…
Gold prices remained at a three-week low on Thursday, under pressure from the strengthening dollar and rising Treasury yields amid concerns that the Federal Reserve will continue to raise interest rates dramatically. At the morning spot, gold was down 0.1% to $1,627.04 per ounce. Prior to this, prices dropped to $1,624.98—their lowest level since September…
Even as excessive rains continue to harm the Kharif crops in important growing regions, the government is attempting to accumulate inventories of imported pulses, primarily tur and urad, to supplement supply and prepare for potential future market interventions. For the delivery of imported tur at designated warehouses in Chennai, Nhava Sheva, Kandla, and Mundra, Nafed…
Early on Wednesday in Asian trading, oil prices increased, reversing losses from the previous session, as worries about restricted supply due to news of falling US stocks outweighed concerns about declining demand from top oil importer China. Brent crude futures were up 73 cents, or 0.8%, at $90.76 per barrel. U.S. West Texas Intermediate crude…
Gujarat’s groundnut crop area is expected to decrease by 10.52% during the Kharif season of 2022–2023, which is expected to result in a 22.18% decrease in crop size. One of the main oilseed crops during the Kharif season is groundnut. Gujarat, a well-known groundnut-growing state, is included in the “SEA Groundnut Kharif Crop Survey 2022”…
