Wheat procurement this season as Punjab, Haryana and Uttar Pradesh recorded more procurement than arrivals at the procurement places of various Agricultural Produce Marketing Committee (APMC) mandis. The total procurement of wheat as of April 21 was 11.9 million tonnes (mt) against 17.09 mt in the year ago period, even with the fact that the…
The Indian equity benchmark indices are down nearly 2 percent in a highly volatile week ended April 22. The mixed earnings by corporates, rising bond yields, Russia-Ukraine crisis, high inflation and expectation of aggressive rate hike by the U.S. Fed in May dampened the investor’s view. For the week, Nifty50 fallen 303.65 points (1.73%) to end…
Consumers should stay themselves for difficult times ahead, as Indonesia- India’s major source of palm oil imports banned exports of all edible oil raw materials on Friday to ease domestic insufficiency. India imports as much as half of its demand of 8.3 mt palm oil from Indonesia. This is expected to shoot up prices in…
Non-basmati rice exports increased 27 per cent to touch $6.115 billion in the Financial year 2021-22, while it was $4.799 billion in last year. Since 2014, non-basmati rice exports have increased by 109 per cent. India exported rice to over 150 countries in Financial Year 2021-22, said, Directorate General of Commercial Intelligence and Statistics (DGCIS)….
Three of India’s most industrialised States (Tamil Nadu, Maharashtra, Gujarat) plan to import 10.5 million tonnes (mt) of coal in the coming months as officials scramble to stop power cuts, a move that could force international coal prices to new highs. Maharashtra plans to import 8 mt for “merging purposes”, while Gujarat will place orders…
The National Commodity and Derivatives Exchange has reported a 47% increase in average daily turnover at ₹1,857 crore in the financial year ended March 2022 against ₹1,261 crore reported in the last year. This was mostly driven by hike in agriculture commodity prices last year due to supply chain disruptions. The growth was despite suspension…
The Indian rupee USD/INR opened slightly higher at 76.26 and moved towards 76.36 against the US dollar on Thursday morning, after that the rupee fallen towards 76.06. As the session started, the domestic currency down amid U.S. dollar strengthening in the international market on coming aggressive interest rate hike by the U.S. Fed in the upcoming months…
Hero electric declared that it has partnered with electric vehicle charging(EV) Infrastructure provider Bolt to set up 50,000 charging stations all over India in next 12 months. The electric two wheeler manufacturer saying that the move will benefit it’s more than 450,000 customers. Under the partnership Bolt charging points will also be installed at over…
The Central government begun purchasing onions from Maharashtra, Gujarat and Madhya Pradesh to create a barrier stock to tackle any rise in prices latest during the year through the National Agricultural Cooperative Marketing Federation(NAFED). NAFED has set a target of purchasing around 250,000 tonnes in this year, the bulk of which will be purchased from…
The Union Government has agreed to buy 40.20 lakh tonnes of rice from the rabi season, from Telangana. What the Centre is buying is the raw rice or fortified rice and not parboiled rice, which the State has been selling for over 40 years. Though it is less than about 46 lakh tonnes of parboiled…
