In anticipation of a meeting of OPEC+ producers to negotiate a significant output cut in what energy executives and experts view as a tight supply market, oil prices increased little on Wednesday, adding to gains of 3% in the previous session. After rising $2.94 the day before, Brent crude increased by 11 cents to $91.91…
Gold and silver increased slightly on Tuesday with 10 grams of 24-carat yellow metal trading at Rs 51,110, up Rs 380. Following a 500 rupee increase, silver is currently trading at Rs 57,400 per kilogram. 10 grams of 22-carat gold is currently being offered for sale for Rs 46,850. In Mumbai and Kolkata, 10-gram quantities of…
The food ministry said on Sunday that while the prices of atta (flour) were steady over the last week, the retail and wholesale prices of wheat and rice had decreased. According to the ministry, “wheat and rice prices have increased more or less in line with the increase in the minimum support price over the…
The food ministry announced on Sunday that until March 2023, certain edible oils are subject to preferential import taxes. In order to increase domestic supply and manage retail prices, the Central Board of Indirect Taxes and Customs (CBIC) made this decision on August 31, 2022. The CBIC’s decision to extend the current reduced import taxes…
The Robusta cherry AB Coffee futures contract will relaunch on Friday at the national commodity and derivatives market (NCDEX). Initial trading would be restricted to monthly contracts with April, March, and February expiration dates. The contract would be a mandatory delivery contract that must be fulfilled in the Karnataka city of Kushalnagar. The contract will…
Copper prices are anticipated to decline for the remainder of the year after falling over 30% after reaching a new high on March 4, while supply issues are likely to prevent a dramatic decline. According to research firm Fitch Solutions Country Risk and Industry Research, a division of the Fitch Group, “persistent supply issues in…
The government faces the tough task of deciding on domestic gas prices as the date for the biannual exercise for fixing the prices approaches on September 30. According to sources, prices would likely increase by $9 to $10 per million British thermal units if the government implemented the administered price mechanism (APM) (MBtu). The price…
Oil prices retreated slightly on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand from buyers using other currencies and concerns over the faltering economic outlook clouding market sentiment. Brent oil prices were down 41 cents, or 0.5%, to $88.91 per barrel, while U.S. futures were down…
Gold and silver rate were trading weak on Wednesday, on the back of the strong U.S. Dollar. Gold October futures were down Rs 99, or 0.2%, to Rs 49,220 per 10 grams on the Multi Commodity Exchange. Silver December futures were trading at Rs 54,798 a kg, down Rs 581 or 1.05 percent. According to…
Turmeric prices have dropped by ₹500 a quintal over the last couple of weeks on an “unexpected” slump in domestic and export demand, traders have said. “ RKV Ravishankar, President of the Erode Turmeric Merchants Association in Tamil Nadu, said, “We typically see demand before the Navratri, but it has been lacking this time.” Even…
