Wheat cultivation in the Rabi season has increased by 2.5% to 312.28 lakh hectares (lh) due to stable prices and farmers’ appetite for government incentives. However, the area under oilseeds and pulses has declined, as a result of increased imports and falling market prices, putting India’s hopes of self-sufficiency at risk. Wheat’s strong market performance…
Jeera prices have declined by -0.15% to ₹23,935 due to profit booking and delayed sowing in Gujarat and Rajasthan, key producing states. Higher temperatures have hampered seeding and germination, resulting in sowing covering only 15% of the cropping area. Rajasthan’s cumin cultivation is expected to decrease by 10-15%. India’s cumin production reached 8.6 lakh tonnes…
Turmeric prices rose 0.03% to ₹13,992, but this was despite rumours of tight supplies till the next harvest season due to significant buying. Despite the Hingoli markets being closed, supplies rose sharply to 9,030 bundles from 7,965 bundles the day before. Also, turmeric production in key growing regions like Maharashtra, Telangana and Andhra Pradesh increased,…
Natural gas prices have risen by 7.02% to ₹320.2 due to increased global LNG demand and forecasts of colder weather in the US. A cold front is expected halfway through January, leading to an 18 billion cubic feet increase in demand forecasts. The EIA data shows natural gas storage levels fell by over 100 billion…
Unfavourable inflation data supports the possibility of a Federal Reserve rate cut in 2024, leading silver prices to rise 1.38% to ₹88,392. Core PCE prices, the central bank’s preferred inflation gauge, grew at their slowest pace in six months. Despite the central bank’s ambitious forecast for two 25 basis point rate cuts next year, market…
The next president said he would impose tariffs on European imports unless the EU sharply increased its purchases of US gas and oil. The president has already promised to increase import duties on China, the country with the largest US trade deficit. To support US manufacturing, he has also imposed new tariffs on allies such…
Gold prices rose on Friday due to a softer dollar and Treasury yields, following U.S. economic data showing a slowdown in inflation. Spot gold was up 1.2% at $2,624.15 per ounce, while U.S. gold futures settled 1.4% at $2,645.10. The dollar fell 0.6% from its two-year high, making gold less expensive for overseas buyers. The…
Crude oil prices fell by 0.94% to settle at ₹5,933, driven by concerns over global oil demand, particularly from China. The U.S. Federal Reserve’s indication of a slower pace of interest rate cuts in 2025 added to the bearish sentiment, as higher borrowing costs could dampen economic growth and reduce fuel demand. A stronger dollar…
Gold prices fell 1.31% to ₹75,651 on pressure from the Federal Reserve’s decision. More caution is needed on interest rate cuts. The central bank cut rates as expected. India’s gold imports are expected to fall in December after hitting record purchases in November due to weak domestic demand. The auspicious days are preventing large purchases…
India’s oil meals export experienced a 7.15% decline in the first eight months of 2024-25, reaching 27.51 lakh tonnes compared to 29.64 lakh tonnes in the same period last year. This decline is primarily due to reduced rapeseed and castor seed meal exports and intensified competition from global soybean meal markets. Major importers include South…
