India’s cotton production is expected to decline by 7% to 302 lakh bales in 2024-25. The Cotton Association of India (CAI) attributed the decline to a change in crop preferences in key regions such as Gujarat and Maharashtra. The decline is due to a significant reduction in cultivated area as farmers in key cotton-growing regions…
Cotton candy prices rose by 1.7% to 57,420 due to supply concerns and reduced production forecasts. The USDA lowered India’s cotton production forecast to 30.72 million bales due to crop damage and pest issues. Ending stocks were reduced to 12.38 million bales, tightening supply. However, the upside was limited by weak yarn market demand and…
Copper prices fell -0.91% to settle at 814.8, driven by a stronger dollar that touched levels near 103.8, dampening hopes for a quick cut in interest rates by the Federal Reserve. Although China’s central bank cut benchmark lending rates to record lows, one- and five-year lending prime rates were cut by 25 basis points to…
Turmeric prices rose by 0.78% to 13,702, driven by potential crop damage from heavy rains. However, gains were limited due to lower demand and rising arrivals. Total arrivals were 14,915 bags, a drop from the previous session’s 16,975 bags. The combination of low supply and unfavorable weather conditions is expected to push prices higher in…
Crude prices were down 0.65% to settle at 5,839, as concerns over future demand and fears of supply disruptions weighed on the market. Both the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) have cut their forecasts for global crude demand in 2024 and 2025. Weak economic data from China,…
The Indian government has raised minimum support prices (MSP) for seven rabi crops for the 2025-26 marketing season, with mustard and rapeseed being the most affected. The increase is expected to ensure remunerative prices for farmers and encourage crop diversification. Wheat’s MSP has been raised by Rs 150 per quintal. To reduce import dependence on…
Gold prices hit record highs on Friday, helped by an interest rate cut by the European Central Bank just weeks before the US presidential election. Spot gold rose 0.8% to $2,713.18 an ounce, while gold futures for December expiration rose 0.8% to $2,728.30 an ounce, both hitting record levels on Friday. Silver prices broke out…
Jeera prices dropped by 0.36% to 24,935 due to increased supply and pressure from ongoing arrivals. 30% of cumin stocks are held by farmers, with daily arrivals in Unjha ranging from 12,000 to 17,000 bags. Despite the pressure, the export market remains active, with prices quoted between $3,150 and $3,200 per tonne. Demand is particularly…
Natural gas prices fell 1.4% yesterday to settle at 197.6, as forecasts of milder weather over the next two weeks indicated less than normal heating demand. Meteorologists predict warmer-than-normal temperatures in the Lower 48 U.S. states through Nov. 1, which will reduce natural gas consumption. As a result, LSEG forecasts that average gas demand, including…
Copper prices rose by 0.48% to ₹821.05, driven by a softer dollar and short-covering activity. China’s pledge to increase debt and stimulate growth boosted sentiment, but it lacked specific details on the stimulus and limited enthusiasm. China’s weaker-than-expected September trade data raised concerns about demand, while the US Federal Reserve’s cautious interest rate cuts weighed…
