With traders being cautious as they kept an eye out for potential supply disruptions due to military hostilities between Israel and the Palestinian Islamist organization Hamas, crude oil prices fell by -0.32% to 7161. As the skirmishes stoked concerns that the violence would move outside of Gaza, Brent and WTI both increased by more than…
Despite favorable domestic macroeconomic statistics, the rupee traded flat at 83.24 against the US dollar in early trade on Friday. This was due to the rising trend in crude oil prices. According to currency analysts, the ongoing flight of foreign funds amid weak Asian equities markets has put pressure on the Indian rupee. The rupee’s…
According to data provided by the National Statistical Office on Thursday, consumer price inflation in India, which is based on the Consumer Price Index (CPI), dropped to a three-month low of 5.02% in September after remaining above the 6% threshold for two consecutive months. The consecutive drop in the price of vegetables, especially tomatoes, and…
As the new harvest season gets underway, increased supply forecasts caused cotton candy prices to fall by -0.73% to settle at 59,540. Increased arrivals as a result will put pressure on prices. India’s cotton exports experienced difficulties in 2022–2023 and decreased to a record low of 15.50 lakh bales. However, the downside is anticipated to…
Prices for jeera (cumin) fell significantly, by 4.51% to 53,940, mostly as a result of weak export demand. As customers preferred other sources like Syria and Turkey due to higher Indian prices, demand for Indian jeera decreased globally. Due to export seasonality, export activity is anticipated to stay muted in the upcoming months. Indian jeera…
As a new harvest season starts in October 2023, more arrivals are expected, which will put downward pressure on prices. As a result, cotton prices decreased by 0.97% to 58,960. Given that India’s cotton exports touched a record low of 15.50 lakh bales in 2022–2023, the scenario regarding cotton exports has been concerning. Despite supply…
On Tuesday, the rupee lost 15 paisa to settle at 83.21 (provisional) against the US dollar as poor domestic equities and a strong US dollar dampened investor optimism. Forex traders claimed that the rupee was under pressure to fall due to subdued domestic macroeconomic indicators and ongoing FII withdrawals. The local currency started out at…
Due to profit booking, Cottoncandy had a -0.63% decline, finishing at 60,400 after earlier price hikes brought on by news of a pink bollworm attack in Haryana’s cotton region. Reduced output and consumption in the forecast period of 2023–24 provide problems for the global cotton business. Cotton output, exports, and ending stocks are expected to…
Prices for turmeric fell by -0.83% to settle at 13,906, primarily as a result of a more favourable production outlook. In expectation of higher supplies in the upcoming months, market participants decreased their positions. Although turmeric’s export prospects have greatly improved, with a 25% increase in exports fueled by demand from both developed and emerging…
According to the S&P Global Purchasing Managers’ Index (PMI), India’s manufacturing activity climbed at the slowest rate in five months in September, but it remained strong, with strong demand lifting business confidence to its highest level this year, despite heightened inflationary pressures. S&P Global’s Manufacturing Purchasing Managers’ Index (PMI) was 57.5 in September as opposed…
