Oil prices dropped on Monday as a result of worries that expanding COVID-19 restrictions in China will reduce demand, countering indications that production at the largest U.S. shale field is slowing down. After falling 1.2% on Friday, Brent crude futures were down 36 cents, or 0.4%, to $95.41 a barrel. After closing Friday’s trading session…
Major agricultural and processed food exports, which are supported by the Agricultural and Processed Food Products Export Development Authority (APEDA), increased by a quarter to $13.77 billion (1,07,942 crore) in H1 FY23 from $11.06 billion in the same period last year. APEDA products exported a record $25.6 billion in FY22, exceeding the target. Wheat, pulses…
In anticipation of further drops in cotton prices and weak yarn demand, some spinning factories, notably in south India, are observing prolonged holidays for Diwali. Some millers, led by the Tamilnadu Spinners Association (TASMA), have urged Finance Minister Nirmala Sitharaman to prolong the window for duty-free import of cotton until March 31 because the demand…
Oil and gas geopolitics, which are a function of supply and demand, are becoming more volatile. Geopolitical conflicts or war in an energy-producing nation have a major impact on crude oil prices. Energy security, the balance of power between energy importers and exporters, and the military might of key states are all being affected. After…
The price of gold was unchanged on October 28 in the international markets, but it was on track to post gains for a second straight week as dismal U.S. economic data fueled hopes that the Federal Reserve could slow its aggressive pace of raising interest rates starting in December. The price of spot gold was…
The current season has seen cotton producers demand a minimum support price (MSP) of $12,000 per quintal, claiming that while yields have decreased, production costs have climbed dramatically. Cotton farmers in Telangana assert that the cost of production is 8,000 rupees per quintal since pesticide use and labor prices have increased. Yields have drastically decreased….
As the dollar and U.S. bond yields fell on Wednesday, gold prices increased to a two-week high on speculation that the Federal Reserve might tone down its hawkish policy of rate hikes from December. After reaching its highest level since October 13, spot gold increased by 1% to $1,669.22 per ounce. At $1,673.80, U.S. gold…
In the agriculture produce marketing committee (APMC) yards, wheat arrivals from October 1–24 reached a three-year high, while they were lower than the inflow seen during the same period last month. The arrivals at APMCs nationwide between October 1 and 24 were 6.75 lakh tonnes (lt), down from 9.1 lt between September 1 and 24….
The World Bank predicted on Wednesday that after this year’s 60% increase in response to Russia’s invasion of Ukraine, energy prices will fall 11% in 2023. However, slower global development and Covid limits in China could cause a deeper fall. In its most recent Commodity Markets Outlook, the bank predicted that the price of Brent…
Considering that this asset class offers considerable diversification from conventional equities and debt investments, the custom of purchasing gold for Diwali appears to have been carefully considered. Gold is a haven in unstable economic times. Along with being a hedge against inflation, it can also provide some protection against rupee devaluation, which is particularly important…
