On concerns over crop damage from unfavorable weather circumstances, jeera (cumin) prices have risen to a fresh high of 39,765 rupees per quintal from 36,000 logged earlier this month. One of the most popular spices in Indian cooking, jeera is a significant export good. More than 70% of the world’s production and trade is accounted…
A representative of the economic coordinating Ministry said Indonesia intends to increase its reference price for crude palm oil from $898.29 per tonne in the first half of the month to $932.69 per tonne for the period of April 1630. The pricing would increase Indonesia’s crude palm oil export tax from its existing rate of $80 per…
The first half of the oil year 2022–23, which began in October, saw a 110 percent increase in soya meal and valueadded soya product exports. This was mostly due to large purchases made by Vietnam and its neighbors Bangladesh and Nepal. According to the Soybean Processors Association of India (SOPA), the shipment of meals increased…
Given that export demand is strong despite weak local demand, turmeric prices yesterday increased by 0.14% to 7024 on short covering. In anticipation of additional price declines, farmers and stockists are releasing their stock of turmeric as harvesting has begun in the main growing regions. Over 5,000–7,000, bags arrive on a daily average in the…
The bullish trend in the bullion pack and crude oil persisted in the commodities market, while most base metal prices declined last week. The favorite asset class for investors at the moment is still yellow metal. Comex spot gold price soared to a brand-new 52-week high of $2032 per ounce, and for the week, the…
The deadline for Telangana to mill rice to order and deliver it to the central pool for the kharif season of 2021–2022 has not been extended by the center. The deadline for processing rabi paddy from the season of 2021–22 has been extended, though. In order to keep up with the increased procurement, it has…
The Center has dispatched a team to Punjab and Haryana to inspect the quality of wheat arriving at terminal markets (mandis) and procurement centers. It is possible that the Center would reduce the requirements for obtaining the cereal in the two States for the Central pool stocks. Before Monday, a decision to ease procurement standards…
Silver reached $25 per ounce and gold was on track to reach a new high as the dollar index hit a 2-month low and US data sparked demand for safe-haven assets like precious metals. Silver futures for delivery in May ruled at $25.02 per ounce in early Wednesday trade, while gold futures for delivery in…
In spite of unfavorable weather in Rajasthan, the main growing region for cumin, and some areas of Gujarat, prices for jeera (cumin seed) have resumed their ascent after a brief hiatus. Concerns have been raised about the crop status as a result of recent unseasonal rains that have fallen in the jeera-growing regions of southern…
The crop quality has been negatively impacted by unseasonal rainfall and hailstorms in major wheat-producing states, but the output is not expected to be reduced, according to experts and dealers. According to S Pramod Kumar, CEO of Sunil Agro, the rains dulled the new crop, but there was no appreciable reduction in output. He claimed…
