Soybean Processors Association of India (SOPA) on Wednesday pressured the Central government not to allow the import of genetically modified (GM) soybean meal declaring that it will adversely impact the local processors and farmers since the country does not allow farming of GM food crops. SOPA Chairman Davish Jain said, “We understand that the poultry…
Oil prices are down in on Thursday morning as concerns about increasing coronavirus cases in China, the world’s largest oil importer, weighed on futures markets and fears of more lockdowns in China drove fuel demand concerns. Brent crude futures down 37 cents, or 0.4%, to $104.95 a barrel. U.S. West Texas Intermediate crude futures down…
India’s rice exports would continue to see strong growth in this fiscal year(2022-23) after a record shipment of about 20 million tonne (MT) of grain worth more than $ 9.6 billion in past fiscal year(2021-22). The expectation of a ‘usual’ monsoon rains this year is expected to give a improve to rice production which is…
Spinning mills, mostly in South India, have started to sign deals to import cotton following the Centre’s decision to allow the natural fibre’s shipments into the country duty free until September 30. Mills in Tamil Nadu have started placing orders for imported cotton. As a plan, mills were placed orders for 3040 days of production…
Rising input costs, including changing imported coal prices and crude, and expectations of rising demand saw cement producers hike prices in April by ₹45-50 per bag, a 12 per cent month-on-month hike. Region wise, in the North Indian markets the rise was over ₹50/bag (14% m-o-m) at ₹431/bag. The south Indian markets saw an 8–10%…
Tin prices fallen below $40,000 a tonne on Monday on concerns due to poor spot demand and inventories rising on the London Metal Exchange (LME) and Shanghai Futures Exchange (ShFE). Since March 8 when it moved to a record $49,500 a tonne, The metal which is used mainly as soldering material in electrical and electronic…
The dollar was down on Tuesday morning in Asian markets but was near to its two-year high against the euro and an 18-month high against the pound. Concerns about the economic effect of China’s COVID-19 lockdowns and the aggressive pace of U.S. interest rate hikes gave the safe-haven dollar a raise. The U.S. Dollar Index that…
Telecom operators are probably to soon announce another set of tariff hikes as they look to upgrade their Average Revenue Per User (ARPU) by picking out low-paying, inactive subscribers. The initial concern regarding hiking tariffs seem to have gone as despite the hikes undertaken in December 2021, the active subscriber base of the industry has…
Arun Misra, CEO of Hindustan Zinc, Stating that Zinc prices are expected to stay “strong” and are not likely to come down very soon. One of the largest zinc–lead producers, said that there could, however, be some “fluctuations here and there”. In FY22, LME prices of zinc and lead were up 36.5% and 15.7% respectively….
Gold prices are down on April 25 in the global markets near to their lowest level in two weeks touched in the previous session as an elevated US dollar continued to pressure demand for greenback-priced bullion. On the Multi-Commodity Exchange (MCX), Gold contracts were down 0.36%, trading at Rs 52,073 for 10 grams, Silver also down…
