In the current oil year 2022–23, which begins in October, soybean crushing in the nation is anticipated to climb by roughly a fifth to 100 lakh tonnes (lt), compared to 84 lt in the previous season, due to greater availability of the oilseed due to higher output and carryover stockpiles. The Soyabean Oil Processors Association…
The Indian rupee lost 66 paise to 81.57 against the U.S. dollar in early trade, following the American dollar’s rise in the international market and a flat domestic equity market. On the strength of encouraging domestic macroeconomic data and falling crude oil prices, the rupee strengthened versus the U.S.dollar in the previous session. The local…
In October, for the second time this fiscal year, India became a net importer of steel due to lower-cost options in the downstream industry, such as cold-rolled and coated goods, while exports significantly decreased in volume. According to information accessible with the Steel Ministry, steel imports totaled 5,93,000 tonnes in October, compared to exports of…
The cost of importing edible oil into the nation increased by 118 percent from the 2019–20 oil season to the 2021–22 oil season (November–October). According to information provided by the Solvent Extractors’ Association of India (SEA), the value of imported edible oil increased by 34% from the season of 2020–21 to 2021–22, reaching $1.56 lakh…
The Cotton Association of India (CAI) has anticipated that the domestic cotton demand for India for the 2022–23 season up to September will be roughly 18 lakh bales (170 kg each) lower at 300 lakh bales or nearly 6% less than last year’s 318 lakh bales. The fall in domestic consumption was ascribed to mill…
According to a memo sent to the government and obtained by Reuters, India’s largest mining sector organisation is asking for increased import levies on metals like zinc, copper, and aluminium to help slow the flow of less expensive imports, particularly from China. The Federation of Indian Mineral Industries (FIMI) stated in a note written to…
Gold prices slightly declined on Monday from a three-month high reached in the previous session as the dollar and U.S. government yields increased in response to a top U.S. central banker’s warning that the Federal Reserve is not yet “softening” its fight against inflation. After reaching its highest level since August 18 on Friday, spot…
The dollar fell as a result of lower-than-expected inflation in the U.S., and the rupee strengthened by 100 paise to settle at 80.81 versus it. The widest opening disparity in over a decade was 110 paise greater than 80.71 when the currency was introduced. Before finishing at 80.81, 100 paise higher, according to Reuters, it…
Due to an early start in Rajasthan and Uttar Pradesh, wheat sowing has increased by 10% as of Friday during the current rabi season. By the end of the month, the area under the cereal crop will show how much wheat will be produced, as planting in December would certainly damage the crop yield if…
Oil prices increased on Friday as softer-than-expected U.S. inflation data raised expectations of more gradual Federal Reserve interest rate increases, but worries about slowing economic growth and a rise in COVID in China kept oil trade negative for the week. After U.S. equity markets rallied, crude markets followed suit. A series of swift interest rate…
