If crude prices stay below $80 a barrel during this time, state-run oil marketing companies (OMCs) are expected to reduce retail prices of gasoline and diesel to some degree, right before the general election that is slated for April, according to sources. Given that the price of petroleum is currently below the $80/barrel barrier, the…
Crude oil experienced a steep loss, closing at 6030, a decrease of 2.84%. Concerns over China’s economic expansion and international efforts to bring about a Middle East truce impacted the bearish trend. In March, OPEC+ will decide whether to prolong the voluntary oil production cutbacks of 2.2 million barrels per day (bpd) that were set…
Prices for cotton candy decreased by -0.17%, ending at 57740, as a result of adjustments to production and consumption estimates for the 2023–2024 season worldwide. There will be a 1.3 million bale drop in global consumption as a result of declines in Turkey, Indonesia, India, Pakistan, and Uzbekistan. This resulted in a 2.0 million bale…
As per the latest research by CRISIL, the Indian economy is predicted to develop at an average annual pace of 6.7% until the end of the decade. Between the fiscal years 2024 and 2031, the economy will expand at this rate, slightly faster than the 6.6% pre-pandemic average. Capital will be the primary driver of…
Following the release of India’s government budget, the rupee saw a small increase on Friday, although early gains on a decline in U.S. bond yields and upbeat sentiment were undermined by dollar demand from state-run banks and importers. The rupee’s previous close was 82.9650; it concluded at 82.9175 against the dollar. This week, the currency…
A significant OPEC+ advisory group remained silent on production policy on February 1, thereby maintaining the present output restrictions. Under the co-chair ship of Saudi Arabia and Russia, the Joint Ministerial Monitoring Committee declared that it would “continue to closely assess market conditions” and that the 22-member producer coalition was prepared to modify output levels…
The food ministry on Friday requested that traders, wholesalers, retailers, large chain shops, and milers around the states reveal stock positions within a week in order to stop speculation and a jump in rice prices. “The domestic prices of rice are increasing despite a good crop this kharif, ample stocks with Food Corporation of India…
Due to dollar sales by both domestic and international institutions, the Indian rupee closed the day stronger on Wednesday, reaching its highest level in more than two weeks. The rupee closed at 83.0425 against the US dollar, down from 83.1050 the previous day. The local currency saw its biggest monthly growth since June 2023 in…
The industry anticipates an early implementation of a robust policy framework along the lines of the one the government established for the expansion of oil palm plantations in the nation, given that Finance Minister Nirmala SithaRaman stated a special focus to promote edible oil crops. The industry, which uses up foreign cash because the nation…
Due to a number of variables, including China’s substantial increase in unwrought aluminium imports in 2023, aluminium prices saw a decrease of -1.17% yesterday, ultimately finishing at 202.5. China’s yearly imports more than doubled to 1.54 million metric tones, the second-highest amount since the century’s beginning and just shy of the record set in 2021….
