The current oil year (November 2022–October 2023), according to trade group Solvent Extractors Association of India (SEA), is expected to see a record 17 million tonne (MT) of edible oil imports into India. Exports totaled 14 MT last year. As of 2016–17, when the nation imported 15.1 MT of oil, the volume of imported cooking…
The price of crude oil had a strong day, rising 5.26% to close at 7,259. The United States tightened its restrictions on Russian crude exports, which led to this remarkable increase. These bans caused supply issues in a competitive market, especially given that fourth-quarter global inventories are predicted to decline. In order to close gaps…
With traders being cautious as they kept an eye out for potential supply disruptions due to military hostilities between Israel and the Palestinian Islamist organization Hamas, crude oil prices fell by -0.32% to 7161. As the skirmishes stoked concerns that the violence would move outside of Gaza, Brent and WTI both increased by more than…
As the new harvest season gets underway, increased supply forecasts caused cotton candy prices to fall by -0.73% to settle at 59,540. Increased arrivals as a result will put pressure on prices. India’s cotton exports experienced difficulties in 2022–2023 and decreased to a record low of 15.50 lakh bales. However, the downside is anticipated to…
Prices for jeera (cumin) fell significantly, by 4.51% to 53,940, mostly as a result of weak export demand. As customers preferred other sources like Syria and Turkey due to higher Indian prices, demand for Indian jeera decreased globally. Due to export seasonality, export activity is anticipated to stay muted in the upcoming months. Indian jeera…
As a new harvest season starts in October 2023, more arrivals are expected, which will put downward pressure on prices. As a result, cotton prices decreased by 0.97% to 58,960. Given that India’s cotton exports touched a record low of 15.50 lakh bales in 2022–2023, the scenario regarding cotton exports has been concerning. Despite supply…
Due to profit booking, Cottoncandy had a -0.63% decline, finishing at 60,400 after earlier price hikes brought on by news of a pink bollworm attack in Haryana’s cotton region. Reduced output and consumption in the forecast period of 2023–24 provide problems for the global cotton business. Cotton output, exports, and ending stocks are expected to…
Prices for turmeric fell by -0.83% to settle at 13,906, primarily as a result of a more favourable production outlook. In expectation of higher supplies in the upcoming months, market participants decreased their positions. Although turmeric’s export prospects have greatly improved, with a 25% increase in exports fueled by demand from both developed and emerging…
Due to profit taking after earlier increases brought on by news of a pink bollworm assault in the cotton belt of Haryana, cotton candy prices saw a minor decline of -0.49% to 60,780. The cotton sector is battling decreased production and consumption in the global outlook for 2023–24. The cotton estimates for the United States…
As the majority of the gas for these sectors comes from state-run ONGC and Oil India nomination fields, where prices are capped at $6.5 per million British thermal units (mmBtu), analysts say the recent increase in natural gas prices is unlikely to exert any significant upward pressure on domestic compressed natural gas (CNG) or piped…
