Soybean procurement under the Price Support Scheme (PSS) has been significantly lower, accounting for only 2.6% of the sanctioned 32.24 lakh tonnes (LT) as on November 18. Market prices are lower than the Minimum Support Price (MSP), reducing farmers’ incomes. Soybean procurement, as mentioned above, has been marginally slower, reaching only 2.6% of the sanctioned…
Aluminium prices rose by 0.27% to ₹244.25, driven by supply constraints from major producers and changes in China’s export-related policies. China plans to end tax rebates on semi-manufactured aluminium exports from December, potentially removing five million tonnes from the global market. Bauxite prices surged to near-record highs, with Chinese smelters facing their lowest ore inventory…
Despite signs of a big gain in US stocks, oil prices were steady in Asian trade on Wednesday as traders awaited any escalation in the crisis between Russia and Ukraine. Oil prices have seen a modest increase this week as the conflict between Russia and Ukraine has escalated, particularly after Moscow threatened to use nuclear…
India’s installed renewable energy capacity is expected to reach 250 GW by March 2026, up from 201 GW as of September 2021, according to credit ratings ICRA. The increase is driven by a large project pipeline of over 80 GW, which improved tendering activity in FY24. The current fiscal has high tendering activity, in line…
Gold prices fell from a one-week high above $2,620 as global concerns fueled safe-haven demand, but expectations for a faster Fed rate cut and limited gains in US Treasuries eased. Also, be very cautious about broader risk-on sentiment, strong US dollar performance, optimistic wages. Technical indicators point to hard resistance near $2,634-$2,635, with downside risks…
India’s rice procurement deficit has decreased to 11% from 20% in November, thanks to a 5.44% increase in purchases. The total procurement reached 148.93 lakh tonnes, with Punjab and Haryana being the largest contributors. Uttar Pradesh saw a 32% rise in rice purchases, while Tamil Nadu and Telangana experienced declines. The government has raised its…
Gold prices rose on Monday after a small decline the previous week, although the recovery was hampered by expectations of gradual interest rate cuts in the United States. An ounce rose 0.4% to $2,571.11, following a two-month decline the previous week. On Friday, gold saw its biggest weekly drop in nearly three years. At $2,575.70,…
Natural gas prices fell by -0.75% to ₹237.5 due to increased daily production and higher-than-expected storage builds. The latest federal report showed utilities added 42 billion cubic feet of gas to storage for November 8, 2024, marking the fourth consecutive week of larger-than-usual injections. However, losses were limited by forecasts of colder weather, which is…
Oil prices fell slightly early Friday as concerns over oversupply and a stronger currency weighed on U.S. fuel stocks. Brent crude ended down 30 cents, or 0.41 percent, at $72.26 a barrel. U.S. West Texas Intermediate crude futures were down 25 cents, or 0.36 percent, at $68.45. WTI is expected to fall 2.7 percent for…
Due to healthy demand and lifting curbs on non-basmati rice, India’s agri exports are expected to reach USD 50 billion in 2024-25. Export curbs on rice, wheat, and sugar impacted agri exports by about USD 6-7 billion. However, removing rice curbs is expected to boost exports, with rice exports expected to reach 17-18 million tonnes…
