On Thursday, oil prices remained almost unchanged due to a larger-than-anticipated drop in U.S. crude stocks and concerns that more aggressive U.S. interest rate increases would slow economic growth and reduce oil consumption. Brent crude futures had increased by 5 cents to $82.71 per barrel, while West Texas Intermediate (WTI) crude futures had increased by…
Due to unfavourable global indicators, the gold rate is trading lower on Thursday, while the silver rate is down 0.23%. Gold April futures were down Rs 76 or 0.14% on the Multi Commodities Exchange, trading at Rs 54,835 per 10 kilos. At Rs 61,672 per kg on the MCX, silver May futures were trading 145…
Early on Wednesday in Asian trading, oil prices stabilized as industry data revealed a reduction in U.S. crude oil stocks. The market had fallen the previous session over concerns that more aggressive U.S. interest rate hikes would hurt demand. The price of a barrel of April Brent crude futures increased by 8 cents to $83.37….
The first organization to receive IndG.A.P certification for foxtail millet is a farmer-producer organization (FPO) called Sri Rapthadu Mandala Raithu Utpatti Darula MACS, which is based in the Andhra Pradesh district of Anantapur. It is supported by the agricultural businesses Samunnati and eFresh Agri Business Solutions. The development occurs at a time when India’s government…
The appeal of bullion as a hedge against price increases waned as gold prices edged down on Monday in the worldwide markets as central banks signalled additional interest rate increases to control the stubbornly high inflation. Spot gold was down 0.1 percent at $1,853.99 per ounce after reaching its highest level since February 15 on…
In an effort to keep an eye on the local costs of the lentil, the government has abolished the standard 10% customs charge on whole tur or pigeon peas. The Central Board of Indirect Taxes and Customs (CBIC) stated that import duty on Tur (whole) will be “Nil” in a notification dated March 3. As…
Sanjeev Chopra, the Union Food Secretary, claimed that despite slightly higher temperatures, wheat harvests are not anticipated to be harmed and exuded confidence in producing a record-breaking 112 million tonnes during this crop year that ends in June. The secretary declared that the wheat export embargo will remain in effect, increasing the supply of grains…
India’s imports of palm oil in February fell 30% from January to their lowest level in 8 months as refiners decided to reduce their inventories as inventories grew as a result of excessive imports in October-January, five dealers told Reuters on Thursday. The price of palm oil produced in Malaysia could be affected by India’s…
Despite a decline in early Friday trade, oil prices were still expected to end the week up about 2% as a rebound in factory activity in China outweighed mounting worries about accumulating U.S. crude supplies and prospective European rate hikes. The price of Brent crude futures decreased by 39 cents, or 0.5%, to $84.36 a…
The States told the Union Government that the procurement may be met this year considering current crop conditions, and the Union Government has plans to purchase 34.1 million tonnes (mt) of wheat in the upcoming rabi marketing season beginning in April. “That is not a target but based on what States have informed the Centre,”…
