Aluminium prices dropped by -0.53% at ₹243.35 due to rising output in China and Asia’s tightening supply. In November, Chinese aluminium production increased by 3.6% YoY, reaching 3.71 million metric tons. However, high alumina costs and environmental control measures are affecting smelters. China’s aluminium exports reached nearly 5.5 million tons in the first ten months…
Till mid-December 2024, the Cotton Corporation of India (CCI) has procured over 31 lakh bales of cotton at the Minimum Support Price (MSP). Telangana and Maharashtra are leading in the procurement of cotton. CCI has projected that the cotton procurement in 2024-25 will be higher than last year at 33 lakh bales with higher MSP….
Waaree Energies declared on Monday that it had accepted two projects totaling 398 MW for the provision of solar modules. The projects for which the orders are intended are 249 MW and 149 MW, respectively. “The company has received orders for 2 projects aggregating 398 MW, for the supply of solar modules,” Waaree Energies stated…
According to data issued by the commerce ministry on Monday, the November wholesale pricing index (WPI)-based inflation rate in India decreased to 1.89 percent, mostly as a result of rising prices for textiles, machinery & equipment, food items, and other manufacturing. In October of this year, WPI inflation was 2.36%, up from 0.39 percent in…
Following recent gains from postponed planting in Gujarat and Rajasthan, cumin prices were down 0.17% to ₹24,040. In Gujarat, the sowing area has come down from 2.44 lakh hectares to 57,915 hectares as on November 25. Due to high temperatures, this is only 15% of the 3.81 lakh hectares used for sowing. The delay of…
Despite reaching new lows in CY24, the rupee beat the majority of Asian currencies because the Reserve Bank of India (RBI) intervened promptly. Over the year, it lost 1.5% of its value about the US dollar. The dollar index, which measures how the US dollar performs about a basket of six major currencies, is down…
Turmeric prices rose by 0.34% to ₹13,972, driven by tight market supplies ahead of the new crop’s arrival. Arrivals increased to 9,030 bags, with strong inflows in major trading hubs like Erode and Hingoli. However, gains were limited due to the crop’s excellent condition and favorable weather. Prolonged rains delayed harvesting, potentially affecting fresh supplies…
Due to strong African demand and new crop yields, India’s parboiled rice prices remained steady this week. Vietnamese rates decreased due to strong supplies, while Thai rates increased due to baht appreciation. Top exporter India’s 5% broken parboiled variety was quoted at $444-$450 per metric ton, while Indian 5% broken white rice was quoted at…
Soybean supplies have fallen by 15% in the first two months of the 2024-25 oil year as farmers have held back their crops in anticipation of better prices. Prices have fallen below the minimum support price of ₹4,892 to less than ₹4,200 per quintal. As global supplies of soybeans are increasing, so are prices due…
Natural gas prices rose by 4.5% to ₹299.6 due to a larger-than-expected storage draw, with the U.S. Energy Information Administration (EIA) reporting a withdrawal of 190 billion cubic feet from storage for the week ending December 6. Despite the decline, storage levels remain 1.8% higher year-over-year and 4.6% above the five-year average. Gas flows to…
