Data from the World Gold Council (WGC) showed that the country’s demand for gold fell by 3% in 2022, with a significant 20% decline in the fourth quarter. Due mostly to an increase in price, demand for the yellow metal fell to 276 tonnes in the December quarter from 344 tonnes in the corresponding time…
The fear of additional interest rate hikes and ongoing Russian crude exports caused oil prices to decline by more than 2% in the previous session. However, prices stabilized in early Asian trade on Tuesday. Brent crude futures were up 28 cents to $85.18 per barrel, while U.S. Crude oil futures for West Texas Intermediate (WTI)…
Due to lower arrival quality and rumors of a larger crop, turmeric prices have fallen to about 5,000 per quintal in some areas of Maharashtra. Due to significant stockpiles held by consumers and stockists, prices in other regions of the country are generally lower than they were during the same time last year. Turmeric prices…
The Food Corporation of India (FCI) has chosen to launch the first tender on Friday, one day after the central government made the decision to sell 3 million tonnes (mt) of wheat that was in official reserves on the open market. The actual online auction could happen on February 1. According to sources in the…
The government has been requested by rice exporters to relax limitations on the export of non-basmati rice by eliminating the 20 percent export levy on white (raw) rice and permitting the transport of one million tonnes (mt) of broken rice. The Centre must evaluate the Food Corporation of India’s purchase of paddy cultivated in the…
Keeping up with the strong trend in the global markets, gold rates in the futures market may reach a new high of ₹68,350 per 10 grams. On Tuesday, when the U.S. dollar fell, gold for March delivery saw a high of ₹68,700 and a low of ₹68,210. The near-month price of the February gold contract…
Traders and industry executives said it will be difficult to restock the depleted government granaries given the record-high wheat prices, which are currently nearly 50% higher than the minimum support price (MSP) of Rs 2,125 per quintal for the current 2022–23 rabi selling season. After Baisakhi, the pace of harvesting the new wheat crop will…
As the dollar dropped on Tuesday and investors awaited US economic data in the expectation that the Federal Reserve would raise interest rates more gradually, gold prices moved up on the world markets. The yellow metal continued to experience an upsurge in the session after the previous week’s close, finishing with 0.25 percent gains. Investors…
The actual acreage and production have decreased for all major crops, despite the government’s promotion of millets. When farmers receive guaranteed irrigation, experts claim that the only thing that will prevent them from switching to other crops is better returns. Ragi, bajra, and jowar’s total production have decreased by 7% to 15.6 million tonnes over…
This season (October 2022–September 2023), India’s production of chillies is anticipated to increase by 23%, and jeera (cumin) and pepper production are also anticipated to rise. According to reports presented at the International Spice Congress 2023 (ISC 2023), however, turmeric production will probably be lower due to waterlogging of the fields during the monsoon. Jeera…
