As investors took profits on worries that future interest rate increases by central banks might stifle economic growth and global fuel demand, oil prices declined on Thursday, erasing some of the gains made the day before. The price of Brent crude futures had decreased by 27 cents, or 0.4%, to $73.76 per barrel. American West…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera yesterday finished higher by 5.72% at 58085. Prices increased as crop worries grew as a result of Rajasthan, the state that produces the majority of the crops, experiencing unseasonal rains and hailstorms. This season, the market…
Friday saw a more than 3% decline in the price of Multi Commodity Exchange (MCX) shares, a day after the exchange called off the mock trading session for the new trading platform. The exchange is currently putting a new commodity derivative platform into place. According to a circular released by MCX on Thursday, “the exchange…
The government will soon sell 4 lakh tonnes of wheat and 5 lakh tonnes of rice from buffer stock to bulk buyers and dealers in the first round of auctions, despite the growing retail prices of commodities. These steps are a part of the Center’s comprehensive effort to reduce the rate of increase in the…
According to the World Steel Association (World Steel), India’s crude steel production increased by 4.1 percent to 11.2 MT in May 2023, despite a 5.1% decline in global output to 161.6 MT. Chinese crude steel production in May totaled 90.1 MT, maintaining its position as the world’s top producer of steel despite a 7.3 percent…
Crude oil yesterday decreased by -4.17% to close at 5705 as concerns over interest rates and inflation resurfaced, increasing questions about the prospects for gasoline demand. Pressure from important central banks was also perceived as being hawkish, which created worries that interest rates would keep rising for a longer period of time and worsen the…
Due to strong export demand and predictions of lower stock levels at the end of the current marketing year, jeera yesterday settled higher by 1.62% at 54510. Prices increased as concerns about the harvest grew owing to hailstorms and unseasonal rains in Rajasthan, the state that produces the majority of the food. Demand from domestic…
On improving sowing expectations, mentha oil yesterday decreased by -0.72% to reach 898.1. The price impact will be exacerbated by reports of expanded acreages and slow menthol exports. The price will be under pressure from rising menthol imports as well as China’s restricted purchasing. When compared to the exports of 170.22 tonnes of mentha in…
As the Kharif sowing acreage is anticipated to decline during the current season, turmeric prices yesterday increased by 5.85% to 9548. The expected drop in Maharashtra’s sowing area is between 10% and 20%. The acreage is anticipated to drop by 10% to 15% in Tamil Nadu (NS: TNNP). A reduction in acreage between 18% and…
As investors continue to track the amount of gas flowing to US LNG export plants and weather predictions, natural gas prices yesterday decreased by -4.94% to 207.7. As households and businesses turn up their air conditioners to escape the first heat wave of the summer of 2023, power use in Texas is anticipated to set…
