A stronger US dollar, which touched its highest level since March 4 at 104.3, led gold prices to fall 0.57% to settle at ₹87,278, its lowest since March 4. Traders priced in a rate cut of about 63 basis points for 2024 after the Federal Reserve’s stance on deferring interest rate hikes due to economic…
India recorded a record rice production in the 2024-25 crop year, with kharif rice output reaching 1,206.79 lakh tonnes and rabi rice at 157.58 lakh tonnes. This marks a sharp increase in kharif rice by 74.20 lakh tonnes compared to the previous year. The government procured 75.80 million tonnes of paddy, bolstering domestic stocks and…
Turmeric prices rose by 2.45% to ₹13,394, driven by lower-than-expected arrivals and strong buying interest. Export performance was positive, with shipments reaching a four-year high. From April to December 2024, turmeric exports rose 13%, reaching 1,36,921 tonnes. December saw a 46.94% YoY surge, reflecting global demand. However, new crop yields are projected to be 10-15%…
Record production levels and forecasts of mild weather that are expected to reduce heating demand in early April led natural gas prices to fall -0.29% to 344.2. Gas storage levels are still 8% below seasonal norms, including inventory drawdowns due to severe cold in January. According to LSEG figures, average gas production in the Lower…
Aluminium prices fell -0.34% to ₹261.55, largely due to improved raw material availability. This helped ease supply shortages caused by disruptions in the previous year. China’s record production of 44 million tonnes in 2024 was curbed, with exports from China falling after tax incentives were removed, with more aluminium being sent to domestic markets and…
Following the record high, gold prices eased 0.14% to close at ₹88,602 on profit booking. With two rate cuts expected in 2025, the US Federal Reserve decided to keep interest rates unchanged at 4.25–4.5%. At the same time, economic growth has slowed and inflation is rising. China’s official gold reserves rose to 2,290 tonnes, or…
Jeera prices have declined by 0.46% to ₹21,450 due to weak demand and ample carry-forward stocks. Farmers hold around 20 lakh bags, with only 3-4 lakh expected to be traded by season-end. The Spices Board reports 2023-24 production at 8.6 lakh tonnes, up from 5.77 lakh tonnes last year. Domestic demand and export activity, particularly…
India’s oil meal exports fell 12.39% to 39.33 lakh tonnes during April-February 2024-25, primarily due to declining demand for rapeseed meals and an oversupply of soybean meal globally. Rapeseed meal exports dropped 17.53%, while castor seed meal exports fell 21.44%. The de-oiled rice bran export ban since August 2023 further impacted domestic prices. Soybean meal…
Natural gas prices rose 1.14% to ₹355.4 on the back of a decline in natural gas production and cold weather. The severe cold weather in January and February forced energy companies to remove large quantities of gas from storage, which is 12% below the average for this time of year. According to LSEG data, average…
Aluminium prices remained steady at ₹264.55 despite market volatility, as lower supply from major producers and expectations of stronger demand balanced the market. China’s record output of 44 million tons in 2024 signals an impending slowdown, with production curbs enforced by Beijing’s 25 million-ton cap. The removal of export tax rebates shifted local producers’ focus…
