Jeera prices rose by 0.75% to settle at 20,780, driven by low-level buying. Indian cumin remains the cheapest globally, attracting international buyers despite weak domestic demand. Farmers hold around 20 lakh bags, with only 3-4 lakh bags expected to be traded by the end of the season. Production is expected to remain stable due to…
Gold prices rose 0.38% to ₹85,809 as the US dollar weakened, concerns over the US president’s potential tax policies and concerns that they could worsen global trade tensions. Traders are now leaning towards a rate cut in July as headline inflation has been higher than expected. After reaching a peak demand of 802.8 metric tonnes…
Cotton candy prices rose by 0.5% to ₹54,100 due to expectations that the Cotton Corporation of India will procure over 100 lakh bales at the Minimum Support Price. The Cotton Association of India revised its crop projections for the 2024-25 season by 2 lakh bales, bringing the total output to 304.25 lakh bales. Domestic consumption…
Gold prices fell 0.05% to ₹85,481 as US inflation strengthened expectations that the Federal Reserve will reach a record low. The headline inflation measure was 3.3%, higher than forecast, and January inflation unexpectedly rose to 3%. Despite these challenges, gold prices have risen more than 10% since the start of the year, thanks to dovish…
India’s palm oil imports reached a 14-year low in January, dropping 45% from December to 275,241 metric tons. This decline was primarily driven by refiners shifting to cheaper soyoil due to negative refining margins. This shift will pressure Malaysian palm oil prices and boost U.S. soy oil futures. In contrast, soy oil imports rose 5.6%…
Gold prices fell 0.34% to ₹85,523 after hitting a record high as investors booked profits. The decline was driven by concerns over a global trade war following the US President’s decision to impose 25% tariffs on steel and aluminium imports. Also, for the third consecutive month, China’s central bank increased its gold reserves, which totalled…
Zinc prices fell by -0.02% to ₹270.75 due to a sharp increase in SHFE-monitored inventories since January 24. However, supply concerns limited the downside, as global mined zinc production declined for the third consecutive year in 2024. China’s refined zinc output dropped by 7% due to lower processing rates and production cuts at major smelters….
Turmeric prices fell 1.87% to ₹13,244 on a slight increase in market arrivals and subdued demand. Higher arrivals are expected in the coming month due to steady harvesting process, however, the new crop output is estimated to be 10-15% lower this year. The exact impact on yields will be verified once the pace of harvesting…
Indian cumin production for the 2023-24 season is estimated at 8.6 lakh tonnes, up from 5.77 lakh tonnes last year. Despite high supply, shortage concerns could limit downside risks. Global demand for Indian cumin remains strong, as it is currently the cheapest globally at $3,050 per tonne compared to Chinese cumin. Tensions in the Middle…
Rising trade concerns between the US and China and poor US employment figures helped gold prices rise 0.53% to settle at 84,888. By the end of January, China’s central bank had 73.45 million fine troy ounces of gold, increasing its reserves for the third consecutive month. Gold holdings in London vaults fell 1.7% to 8,535…
