Due in part to a minor increase in the offshore Chinese yuan and a decline in the dollar index, the Indian rupee ended the day on Wednesday slightly higher. After closing at 83.15 in the previous session, the rupee closed at 83.1225 versus the US dollar. The dollar index fell 0.4% to 103.07, and the…
Aluminum posted a strong performance, rising 2.42% to 203.1 points, on optimism of further stimulus in top metals consumer China. China and the government have promised to inject more funds into the capital market to stabilize confidence, potentially mobilizing around 2 trillion yuan to support the stock market slump. According to a report by the…
A weaker U.S. dollar helped copper settle up 0.16% at 722.35, as traders and investors remained cautious ahead of key central bank meetings. With an eye on raising almost $2 trillion, Chinese authorities are considering a series of steps to stabilize the collapsing stock market. The Chinese government has pledged to implement more potent measures…
Prices for turmeric rose 5.99%, to $15,598. This increase was fueled by tightened supply, better export chances, and declining production expectations. Slower purchasing activity in advance of stock releases prior to the new crops scheduled to begin in January 2024 also provided assistance to the market. However, pressure from better crop conditions brought on by…
Due to favorable weather in the major growing states, the nation’s sugar production in the current season (2023–24) is probably going to exceed the 32.5 million tonne (MT) forecast last month, the Indian Sugar Mills Association (ISMA) stated on Tuesday. According to ISMA, the standing cane crop has benefited from recent weather, and cane commissioners…
Cotton candy prices saw pressure from lower global consumption predictions for the 2023–2024 season, but they ended the day up 0.76% at 55,660 thanks to low-level buying. Turkey, Pakistan, India, Indonesia, and Uzbekistan are expected to have lower consumption expectations, which accounts for the predicted drop of 1.3 million bales. Nevertheless, a rise in global…
At Unjha (Gujarat), the center of the trade, the average mandi prices of cumin seeds (jeera) have dropped by 50%, from Rs 600/kg in October to Rs 300/kg. According to traders, the dip was caused by expectations of a record crop. much though jeera is starting to arrive in the mandis, the peak of arrivals…
The government anticipates a strong rabi crop this year, with yields reaching an all-time high of 114 million tones, despite worries about wheat inventories falling to a seven-year low. This allays worries that a grain scarcity might drive up retail costs. Wheat prices have been high for over a year, although they have somewhat decreased…
Amidst growing speculation that the Federal Reserve will maintain higher interest rates for an extended period, gold prices declined during Asian trading on Monday. Nevertheless, the yellow metal managed to remain above crucial levels due to safe-haven demand and short-term dollar weakness. In January, traders unwound bets that the Fed would start lowering interest rates…
In order to guarantee sufficient supply of molasses for regional ethanol manufacturers, the government on Tuesday declared a 50% export charge on the commodity. Additionally, the import duties on edible oils were prolonged by an additional year. The current import levy on refined and crude edible oils, such as sunflower, soy, and palm, has been…
