The price of gold remained stable on Wednesday, while copper continued to advance strongly as risk-driven assets rose on predictions that the Federal Reserve will raise interest rates more gradually going forward, which also limited dollar gains. The Federal Reserve is expected to raise interest rates in December by a very narrow margin of 50…
Traders predict grim futures for the export of the fibre crop as domestic cotton prices continue to dominate higher than rates in the international market. At the same time as key producing regions are seeing an increase in cotton arrivals at agricultural produce marketing committee (APMC) yards, However, farmers would rather hold back their produce…
Vegetable oil producers in India are grinning once more as edible consumption has returned to pre-Covid levels. In the 2019–20 season (November–October), the average person’s consumption of edible oil fell by 7.8 percent, and the future years’ price volatility further impacted the off-take. And now for the good news for manufacturers of edible oils. Unexpectedly,…
In the previous week, silver prices dropped 5% to $20.8 an ounce, continuing their downward trend from a five-month high of $21.7 on November 14. However, given that silver output has fallen into a shortfall compared to demand, the metal’s prices, which have fallen 10.3 percent year to date, are anticipated to rise. The Silver…
The price of crude palm oil, which has experienced extreme volatility over the past six months, is predicted to increase by 8 to 10 percent as demand for essential edible oil rises internationally. Kadir is a member of the Malaysian delegation that will be present at the two-day Global Roundtable on the Vegetable Oil and…
The biggest oil and gas producer in India, ONGC, said on a conference call with investors that it would reverse years of production drop this year and progressively increase output going forward as it invests billions to produce from more recent discoveries. Oil and Natural Gas Corporation (ONGC) produced 21.707 million tonnes of crude oil…
India recorded a surge of almost 38% in total oil meal exports from April through October of FY23 thanks to a more than 100% increase in the export of rapeseed meals. The country exported 19.84 lakh tonnes (lt) of oil meals between April and October of 2022–23, compared to 14.33 lt during the same period…
Despite the fact that aluminium prices are currently close to three-month highs, economists predict that they will remain muted at least through the end of the first quarter of 2022 due to weak Chinese growth and global demand. The price of the metal is currently $2,425 per tonne for three-month contracts on the London Metal…
The government decreased the windfall tax on diesel exports on Wednesday while raising it on domestically produced crude oil. According to a government statement, the tax on crude oil produced by local companies, such as the state-owned Oil and Natural Gas Corporation (ONGC), was increased from Rs 9,500 per tonne to Rs 10,200 per tonne…
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…
