Due to a spike in supply signaling the end of the harvesting season, turmeric prices fell 2.1% Wednesday, closing at 17,236 rupees. Farmers withheld stocks in expectation of additional price hikes, therefore the negative effects were mitigated. The country is experiencing a heatwave that might harm crop output, worsening the shortage and increasing prices. According…
Prices for cotton candy fell by 0.48% to settle at 57,600, mostly as a result of weak milling demand amid weak demand for yarn globally. The strong demand for Indian cotton from nations like Bangladesh and Vietnam, however, kept the negative to a minimum. The dynamics of the market were further influenced by expectations of…
An unexpected rise in gasoline stocks in the United States caused crude oil prices to drop by 0.54%, ultimately finishing at 6,453. Instead of the 400,000 barrel drop that was expected, petrol stockpiles increased by 2 million barrels, indicating higher demand before the Memorial Day weekend. Expectations for interest rate decreases were tempered by the…
Natural gas had a notable decrease of -2.73% yesterday, closing at 217, due to signs of increased driller extraction and worries about the large excess supply still in storage. Prices dropped in the face of a larger-than-expected build in storage, despite projections for higher demand in the next week and increased flow to liquefied natural…
Due to a surge in supply signaling the end of the harvesting season, turmeric prices saw a notable 4.25% decrease Wednesday, closing at 17872. The negative was, however, minimal since farmers held onto their stocks in anticipation of additional price increases. A threat to agricultural production is posed by the current hot wave in India,…
Gold prices fell for the second consecutive session on Thursday due to a rise in the U.S. dollar and Treasury yields ahead of key inflation data. This data could impact the Federal Reserve’s interest rate plan, leading investors to brace for potential surprises that may require the Fed to adjust its monetary policy outlook. Spot…
A weak milling demand amid dampened yarn demand in the global market was the main cause of yesterday’s little fall in cotton candy, which saw a closing price of -0.24 % at 58,540. However, India was spared negative pressure because Bangladesh and Vietnam remained major buyers of its cotton. The International Cotton Advisory Committee (ICAC)…
Yesterday, crude oil prices fell by -0.2% to settle at 6624 after the International Energy Agency (IEA) revealed a notable rise in global oil stocks for March. The increase in oil retained aboard tankers in transit is mostly responsible for the 34.6 million barrel increase reported by the IEA in February. With the unloading of…
The government may reduce import duty on wheat after six years to boost domestic supplies so that it would not have to dip into the stocks much for carrying out market intervention programme. Wheat prices in Russia are currently ruling $ 284/tonne (around Rs 2357/tonne) against the minimum support price (MSP) of Rs 2275/quintal for…
Due mostly to an increase in supply signaling the end of the harvesting season, turmeric prices saw a notable fall of -6% yesterday, closing at 18648. However, the bad news was that farmers chose to hoard supplies in expectation of additional price increases, so the damage was minimal. In addition, the nation’s ongoing heat wave…
