Following recent gains from postponed planting in Gujarat and Rajasthan, cumin prices were down 0.17% to ₹24,040. In Gujarat, the sowing area has come down from 2.44 lakh hectares to 57,915 hectares as on November 25. Due to high temperatures, this is only 15% of the 3.81 lakh hectares used for sowing. The delay of…
Turmeric prices rose by 0.34% to ₹13,972, driven by tight market supplies ahead of the new crop’s arrival. Arrivals increased to 9,030 bags, with strong inflows in major trading hubs like Erode and Hingoli. However, gains were limited due to the crop’s excellent condition and favorable weather. Prolonged rains delayed harvesting, potentially affecting fresh supplies…
Due to strong African demand and new crop yields, India’s parboiled rice prices remained steady this week. Vietnamese rates decreased due to strong supplies, while Thai rates increased due to baht appreciation. Top exporter India’s 5% broken parboiled variety was quoted at $444-$450 per metric ton, while Indian 5% broken white rice was quoted at…
Soybean supplies have fallen by 15% in the first two months of the 2024-25 oil year as farmers have held back their crops in anticipation of better prices. Prices have fallen below the minimum support price of ₹4,892 to less than ₹4,200 per quintal. As global supplies of soybeans are increasing, so are prices due…
Natural gas prices rose by 4.5% to ₹299.6 due to a larger-than-expected storage draw, with the U.S. Energy Information Administration (EIA) reporting a withdrawal of 190 billion cubic feet from storage for the week ending December 6. Despite the decline, storage levels remain 1.8% higher year-over-year and 4.6% above the five-year average. Gas flows to…
Jeera prices rose by 0.48% to ₹24,080 as major states Gujarat and Rajasthan, which are major producers of jeera, sowed the seeds late due to late sowing. As of November 25, jeera cultivation in Gujarat was recorded in only 57,915 hectares, a huge decline from 2.44 lakh hectares in the same period last year. Additionally,…
Zinc prices dropped by 0.61% at 290.95 due to a slight increase in smelter production, less impacted by reductions in key regions like Henan and Gansu. Production surged in Qinghai, Inner Mongolia, Xinjiang, Hunan, and Shaanxi. Domestic refined zinc production is projected to rise by over 20,000 mt monthly in December 2024, marking a 5%…
Silver prices rose 0.29% to 95,802 on expectations of a Federal Reserve rate cut. Self-regulation plans have been introduced and are working on behalf of China’s solar panel industry, which is reducing demand for silver. According to the Silver Institute, the global silver deficit will decrease by 4% to 182 million ounces in 2024, based…
Ahead of the arrival of the new crop, turmeric futures rose 0.95% to close at ₹14,038 on strong buying and restricted supply. Even as turmeric prices rose, gains were somewhat capped as weather conditions remained good and reports suggested that the turmeric crop was in good condition. Major turmeric trading hubs including Erode and Hingoli…
The 2024/25 US oilseed production forecast is 131.2 million tons, slightly higher due to higher cottonseed production. Soybean supply and usage projections remain stable, while soybean oil production rises due to a higher extraction rate. Export projections for soybean oil are raised by 500 million pounds, reaching 1.1 billion pounds, supported by strong export commitments….
