The National Commodity and Derivative Exchanges (NCDEX) has invited farmer producer organizations (FPOs) to use the platform in order to hedge price risks as deliveries from futures contracts of robusta cherry AB coffee type will resume in February of next year. The major commodity exchange has introduced futures contracts for the period of February through…
USDINR opened with a gap up at Rs.82.20 in the previous session after closing at Rs.81.90 on Thursday, and the market saw primarily dollar purchasing by corporates and banks as rupee pressure persisted on Friday. With other Asian currencies plunging – CNH from 7.02 to 7.12 and KRW from almost 1400 to 1412 – with…
In a very volatile week that concluded October 7 amid mixed global cues and a falling rupee, the market rallied with a more than 1% gain, snapping a three-week losing skid. The Sensex added 764.37 points, or 1.33 percent, to 58,191.29, while the Nifty50 gained 220.3 points, or 1.28 percent, to 17,314.65 at the close…
Oil prices rose after OPEC+ agreed to limit production by 2 million barrels per day, a rate more than the market had anticipated. Oil prices rose in response to the news, but the gains were limited as the market awaited the U.S. response. OPEC+ has been undershooting its own output for months, so the market…
Early indications suggest that paddy procurement would increase during the current Kharif marketing season, and the Center anticipates that foodgrain procurement by the Food Corporation of India (FCI) and other agencies will surpass levels from the previous year. “Paddy procurement is expected to be completed by Kharif. Paddy will be added, totaling 900 lakh tonnes….
Three oilseed crops accounted for more than two-thirds of the gross value output (GVO) of oilseeds for nearly ten years, from 2011–12 to 2019–20. Data from the National Statistics Office’s “State-by-state and item-by-item value of output from agriculture, forestry, and fishery” report reveals that during 2011–12 to 2019–20, the GVO of soybean, groundnut, and rapeseed…
On Friday, the gold rate in India stayed largely unchanged as the yellow metal remained stable in the worldwide market. Gold December futures on the Multi Commodity Exchange were trading flat with a bearish bias at Rs 51,965 per 10 grams. On the MCX, silver December futures were trading at Rs 61,600 per kilogram, up…
Saudi Arabia defied expectations by keeping oil prices for its primary market of Asia relatively stable and lowering those for Europe, defying predictions that it would raise them and put additional pressure on consumers a day after OPEC+ decided to reduce output. For supplies to Asia in November, state-controlled Saudi Aramco kept the price of…
The World Bank reduced its FY23 growth forecast for India to 6.5% from 7.5% in June, the most pessimistic prognosis for the country by any major institution, as it warned of a “deteriorating external environment.” For FY24, it has trimmed the growth forecast by 10 basis points to 6.5%. “In the face of slowing global…
Lead prices reached a seven-week high on Thursday stockpiles fell amid concerns about smelter closures. Copper and zinc prices also increased as a result of limitations placed on metal from a Russian business by the London Metal Exchange (LME). Trading was choppy as investors also tried to factor in potential loss of demand from aggressive…
