The production for the October-September cotton year 2022–23 is anticipated to increase by about 15%, provided the weather remains favourable until October, providing relief to the entire cotton value chain, at a time when the central government is concerned about the closure of 50% of the country’s spinning mills due to cotton shortages. India’s cotton…
UPL, a provider of sustainable agriculture solutions, announced on Friday that it has combined with CleanMax, a provider of renewable energy, to build a hybrid captive solar-wind energy plant in Gujarat. A hybrid captive power plant with a capacity of 28.05 MW of solar electricity and 33 MW of wind power will be built and…
A strong dollar and high U.S. Treasury yields hampered gold’s price decline to its lowest point since April 2021, as expectations of another significant Fed rate hike reduced the attraction of bullion. To $1,664.46 an ounce, spot gold decreased 1.9 %. At $1,662.30 per ounce, U.S. gold futures experienced a 2.02% decline. Silver prices were…
The rupee traded early on Thursday in a range-bound as a strong dollar and worries over a hawkish U.S. Federal Reserve outweighed gains in domestic markets. At the interbank foreign exchange, the rupee touched 79.47 in initial deals after starting at 79.53 against the dollar, gaining 5 paise from its previous close. The rupee lost 35…
Vedanta Resources, which has made 80,000 crores of rupees in Odisha, announced that it intends to invest an additional 25,000 crores there in order to grow the mining, ferrochrome, and aluminium sectors of the state’s economy. According to a firm statement, with this amount of investment, its operations (direct and indirect) are generating close to…
Vegetable inflation is high but that of spices is higher, retail inflation data shows. According to experts, pest attacks and decreased production are the main causes of rising spice inflation. The planting of spice seeds is hoped to benefit from a delayed monsoon. Vegetable retail inflation in August reached 13.23%, while spice retail inflation hit…
American Petroleum Institute (API) statistics released on Tuesday, which came before the government released its official inventory figures, which would have included drawdowns from the national oil reserve, showed that U.S. crude stockpiles increased by more than 6 million barrels over the previous week. September 9, API reported that U.S. crude stockpiles increased by 6.035…
Indian rupee appreciated 28 paise to 79.25 against the U.S. dollar in opening trade on Tuesday, tracking the dollar’s decline versus its major peers and foreign fund inflows. At the interbank foreign exchange, the local unit struck 79.25 in initial deals after starting at 79.30 against the dollar, gaining 28 paise from its previous close….
Gold prices moved little on Tuesday, but they managed to hold onto recent gains as investors looked for additional evidence that U.S. inflation was declining from recent peaks.While gold futures declined 0.2% to $1,736.35 per ounce, spot gold increased by over 0.1% to $1,725.70. As the dollar fell from a 20-year high reached last week,…
The National Commodity and Derivatives Exchange (NCDEX), which established the Turmeric Product Advisory Committee (PAC), has stated that futures trading ensures transparent price discovery for all participants in the commodity value chain and that future prices serve as a benchmark for physical trade as well. The PAC report was released in response to some dealers…
