India’s wheat production is expected to reach 106 million tonnes in the 2023-24 crop year, up by 3% from the previous year, according to a trade association poll. This is in contrast to the government’s forecast of a record 112 MT, indicating that the market expects the output to be 5% lower than the government’s…
Prices for jeera experienced a minor uptick yesterday of 0.45%, closing at 23635, possibly as a result of increasing pressure from arrivals. Despite reduced global supply, buyers worldwide persisted in favoring Indian jeera; as a result, the negative movement was contained. Every day, between 10,000 and 12,000 bags arrive in Rajkot Mandi, surpassing the present…
The LME cash copper contract trades at a substantial discount to the three-month contract, suggesting adequate near-term supply. This caused a modest decrease in copper prices yesterday, which ended at 801.4. The market’s excess inventory is highlighted by this discount, which is the biggest since at least 1982. Notwithstanding early optimism sparked by China’s better-than-expected…
Gold prices surged to record highs in Asian trade on Monday despite easing bets on U.S. rate cuts. The demand for the yellow metal remained strong due to safe-haven interest, and investors are looking for further cues on the U.S. economy. Spot gold rose as much as 0.7% to a record high of $2,353.81 an…
The ICAC’s predictions for the 2024–25 season anticipate growth in cotton-producing areas, production, consumption, and trade. This led to a -0.58% decline in cotton candy prices, closing at 61,860. Cotton cultivation is expected to expand by 3% to 32.85 million hectares, yielding 25.22 million tonnes. Consumption is forecasted to increase by 2.9% to 25.37 million…
The food ministry has selected 59 crucial districts across three states to strengthen MSP procurement operations. More farmers have registered for the wheat procurement drive this season, totaling over 0.36 million. The government’s wheat procurement push began last month to support inventories that had fallen to a 16-year low. Government agencies have acquired 0.6 MT…
Apr 3, 2024, saw a 0.18% decrease in Mentha Oil Rate. The futures contracts for Mentha oil, expiring on June 28, 2024, saw a decrease to ₹931.50. The Mentha oil rate on MCX has decreased by 0.18% in the last day, from ₹938.00 to ₹931.50. One of the top producers and exporters of mentha oil…
The government has started buying oilseeds from farmers through MSP operations to support prices amidst a decline in mandi prices of mustard. They aim to purchase 2.82 million metric tons of mustard from farmers in major oilseed-producing states over the next three months. In Bharatpur, Rajasthan, the current average price for mustard seed is Rs…
Oil prices rose on Wednesday due to concerns over availability of fuel and crude following strikes on Russian refineries by the Ukrainians and the possibility of the Israel-Hamas conflict expanding to include Iran. US West Texas Intermediate crude futures rose by 0.08% to $85.22 per barrel, while Brent crude futures for June rose by 0.19%…
Copper prices rose 0.44% yesterday, finishing at 769.3, boosted by optimistic signs from China, the world’s largest purchaser of metal. This increase signals a potential resurgence in the sector, which has faced hurdles due to low demand in China’s industrial sector. Furthermore, the prospect of reduced supply as Chinese copper smelters consider cooperative output reduction…
