The news that Saudi Arabia and Russia would prolong their voluntary production curbs until next month helped crude oil settle yesterday 1.45% higher at 6859. In addition, Russia announced it will decrease its oil exports by 300,000 bpd in September. Saudi Arabia stated it would prolong its 1 million barrels per day output reduction for…
The dollar strengthened and expectations of a gentle landing for the sturdy U.S. economy dampened demand for gold as a safe haven yesterday, causing it to close down -0.07% at 59432. Initial claims increased only somewhat, as anticipated, but job losses were at their lowest level in almost a year and both labour prices and…
Due to strong demand from the domestic and international markets, turmeric prices yesterday finished higher by 2.48% at 15940. The decreased sowing acreage and smaller ending stocks are also causing farmers and stockists to hang onto their supplies in anticipation of price hikes, which is causing a supply deficit in the cash markets. During this…
A surge in supplies from fresh harvests resulted in mentha oil’s yesterday price being unchanged at 873.8. As harvesting activities have expanded, supplies have grown in Uttar Pradesh and Bihar. With increased yield and ideal weather, production prospects have improved. Prices will also be under pressure from indications of a decline in menthol exports. The…
Due to strong demand from the domestic and foreign markets, turmeric prices yesterday finished up 3.03% at 15554. The decreased sowing acreage and smaller ending stocks are also causing farmers and stockists to hang onto their supplies in anticipation of price hikes, which is causing a supply deficit in the cash markets. During this season,…
According to the Indian Sugar Mills Association (ISMA), increasing sugarcane diversion for ethanol production is expected to result in a 3.41% decrease in sugar production, or 31.68 million tonne (MT), in the upcoming season (October-September), compared to the season 2022-2023. It is anticipated that 32.8 MT of sugar will be produced this season. According to…
As a result of lower arrivals due to severe rain in Gujarat and Rajasthan, jeera yesterday increased by 0.8% to 59690. To get their produce to market, farmers need help. However, it is anticipated that cumin arrivals will rise after the rains stop, which might alter market trends. Good export demand and anticipation of decreased…
After industry data revealed a significantly steeper-than-expected draw in crude oil stocks last week in the U.S., the largest fuel consumer in the world, oil prices climbed more than 1% on Wednesday, trading close to their highest level since April. While U.S. West Texas Intermediate crude increased by 84 cents, or 1.03%, to $82.21 per…
