Due to a drop in domestic demand, the price of turmeric is currently nearly $1,000 per quintal lower than it was last year, but export demand is keeping prices from falling even lower. The current modal price for the finer kind of turmeric in Erode, Tamil Nadu, is $6,183 per quintal, down from $7,790 during…
Tuesday, as the US dollar fell in the foreign exchange market, the rupee strengthened 15 paise to end the day at 82.16 (provisional). Global oil benchmark Brent crude futures decreased 0.42 percent to USD 77.79 per barrel. At the interbank foreign exchange market, the local unit started out at 82.20 against the dollar and ultimately…
The Agricultural and Processed Exports Development Authority (APEDA), based on input from exporters, reported that sales of millets, both domestically and internationally, have increased by approximately 30% since the designation of the International Year of Millets in 2023. The prominence of millet goods in supermarkets has also expanded, as has knowledge of millets and their…
The government-owned Food Corporation of India (FCI) announced on Monday that it has temporarily ceased selling wheat at reduced prices through electronic auctions to large groups of people, organizations, and State governments because the purchase of the new crop will start next month. In accordance with the Open Market Selling Scheme (OMSS), the FCI sold…
In the fourth quarter of the current fiscal, compared to the third quarter, Coal India Ltd (CIL) is projected to see a close to 17% increase in coal despatch to clients in the non-regulated sector (NRS). In Q4 FY23, 3.67 lakh tonnes of coal have been delivered on average daily to NRS customers. With a…
While geopolitical tensions in Europe increased as a result of remarks made by Russian President Vladimir Putin over the weekend, oil prices rose in early trade on Monday as worries about financial sector volatility subsided. Brent crude prices increased 33 cents or 0.4% to $75.32 per barrel. The price of U.S. West Texas Intermediate crude…
As an exception due to the ban on shipping of this variety of rice on September 8, 2022, the government has authorized the export of 3.5 lakh tonnes (lt) of broken rice to Senegal and Gambia. The Ministry has also approved the delivery of 9,990 tonnes of broken rice to Djibouti, Ethiopia. Ruby Overseas of…
State-owned CIL announced on Friday that it is stepping up output in an endeavor to enhance coal supplies to the unregulated sector (NRS) without compromising supplies to the power industry. The announcement follows the Maharatna firm’s announcement a few days prior that it is preparing to satisfy the demand for coal from the power industry…
After the U.S. Federal Reserve tempered its aggressive approach to controlling inflation in a highly anticipated policy statement and signaled that interest rate hikes will soon come to a halt, silver yesterday closed up 1.3% at 70212. However, once U.S. Treasury Secretary Yellen denied that the government had considered protecting all accounts in the U.S….
The price of copper yesterday increased by 1.52% to settle at 783.45 as China’s demand has been strengthening as a result of a seasonal demand uptick and the post-pandemic economic rebound. Concerns over the availability of copper on the LME market have returned as canceled warrants or metal slated for delivery, now account for 45%…
