The comments come on the heels of talks in the global market that after banning wheat exports and limiting sugar shipments, the Indian government could next target Non-Basmati rice. The Indian government has no plans to ban rice (Non-Basmati) exports or announce any curbs on its shipments, two officials involved in the decision making have…
Oil prices jumped around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in one and a half months, supported by the prospect of an European Union ban on Russian oil and the upcoming summer driving season in the United States. Brent crude futures for July down 9 cents…
The Reserve Bank of India (RBI) on Wednesday cancelled the certificates of registration (CoRs) of five Non-Banking Financial Companies (NBFCs) who had been offering their services through app-based platforms. The regulator mentioned irregular lending practices of the companies as the reason for its action. “The CoR of the Five NBFCs have been cancelled on account…
According to the World Steel Association data, international steel production in April was decreased by 5.1% year-on-year to 162.7 million tonnes (mt). World production has been on the down swing since July last year as China, which makes up over 50% of the output among the 64 countries whose data are taken into credit, has…
Indian Rupee gains 3 paise to 77.52 against the U.S. dollar in the early trade on Thursday as a positive trend in domestic equities and weak American currency overseas supported the local unit. Although, increasing crude oil prices in the global markets and continued foreign fund outflows kept the pressure on the domestic currency, Forex…
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…
