The oil ministry informed a parliamentary standing committee that suppliers have voiced concerns about the high transactional costs and difficulty in repatriating funds, which has prevented India from finding takers for its demand that rupees be used to pay for the import of crude oil. International trade custom dictates that the U.S. dollar is the…
Up until December 20, foreign portfolio investors (FPIs) invested $20 billion in Indian stocks, the second-highest amount in the previous ten years. FPIs made $23 billion in market investments in India in 2020. It is noteworthy that only Japan’s economy, which attracts $30 billion, is larger than India’s among Asian economies. This year, South Korea,…
Jeera prices experienced a notable recovery, rising 2.61% to close at 37,900, propelled by low-level purchasing after a recent decline ascribed to increased production forecasts in Gujarat and Rajasthan. Prices had initially been pressured by the possibility of aggressive seeding for Jeera in Gujarat, slow exports, and a spike in production. But renewed purchasing at…
As a result of increasing metal deliveries into London Metal Exchange (LME) warehouses, worries about oversupply caused zinc prices to drop by -0.84%, ultimately settling at 223.5. An abundance of zinc is a cause for concern as the total amount of zinc stored in LME warehouses hit their highest points since September 2021. The shortfall…
As geopolitical tensions in the Middle East escalate, especially in light of the Houthi attacks on ships in the Red Sea, crude oil prices saw a little increase of 0.11%, ultimately settling at 6174. This increase was fueled by mounting concerns about interruptions to global supply. The U.S. government intends to buy an extra 2.1…
Prices for cotton, which are shown above as “Cotton candy,” increased somewhat by 0.11% to settle at 55940. For the current 2023–2024 season, the Cotton Association of India (CAI) updated their cotton production projection to 29.4 million bales. This negative revision was ascribed to farmers uprooting plants and pink bollworm infestation damage in Haryana. In…
The Reserve Bank of India’s “state of economy” report, which was released on Wednesday, projects that real GDP growth in India would likely reach 6% in FY25. The current estimate, which follows the upward revision of the projected growth rate for FY24 from 6.5% to 7%, is less than the 6.5% forecast in the Monetary…
Analysts believe that although food inflation may have peaked in November at 8.7%, it may moderate gradually in the upcoming months. Due to fluctuations in important commodities included in the Consumer Price Index (CPI) basket, food inflation has been above the 6% threshold for five consecutive months as of November. Due to an 87% increase…
Prices for jeera (cumin) saw a significant decrease of -1.68%, ultimately levelling at 36970. This was mostly due to increased production prospects in important areas like as Gujarat and Rajasthan. In the short run, it is anticipated that the vigorous Jeera seeding operations in Gujarat and the slow exports will put downward pressure on pricing….
The API said on Tuesday that U.S. oil stockpiles rose last week, coinciding with a reduction in worries about a worldwide glut as a result of supply interruptions brought on by an increase in vessel attacks along a vital shipping route through the Red Sea. The U.S. benchmark for crude oil, WTI Futures, settled 1.3%…
