Mahalakshmi@fastura.com

India produces a record 332.22 million tonnes of foodgrains in 2023–2024

According to the agriculture ministry, India’s foodgrain production reached a record 332.22 million tonnes in the 2023-24 crop year, driven by strong wheat and rice production. The final estimate for 2023-24 shows an increase of 2.61 million tonnes from the previous year’s 329.6 million tonnes. Rice production reached a record 137.82 million tonnes, up from…

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Important commodities sectors will peak in the upcoming months, predicts UBS

As market challenges ease, UBS strategists predict that major commodity sectors will bottom out in the coming months. Despite weak performance in most categories, the outlook remains positive, with sector-wide recovery and growth into 2025. Over 6-12 months, total returns of at least 10% for the UBS CMCI are forecasted. The energy sector, particularly crude…

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GOLD

With the Fed’s hawkish attitude on rates, gold prices are hovering around record highs

Gold prices reached record highs on Monday due to the U.S. Federal Reserve’s interest rate cut and signs of further reductions. Spot gold remained near $2,619.37 per ounce, while U.S. gold futures edged 0.1% lower to $2,643.90. The Fed began easing monetary policy with a half-percentage-point rate cut on Wednesday, forecasting a further half-point reduction…

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