India’s exports of coffee reached a new high of $1.126 billion for the fiscal year that ends in March 2023 due to a rise in worldwide prices. The exports exceeded the Commerce Ministry’s fixed target of $1.088 billion, up by approximately a tenth in dollar value terms from the previous year’s $1.027 billion. In fact,…
Consumer Affairs Secretary Rohit Kumar Singh issued a directive to retailers on Friday warning them against maintaining a “unreasonable level” of profit margin on pulses, particularly tur dal. This was done out of concern over the rising price of tur dal. The secretary of the Retailers Association of India (RAI) instructed the main organized retailers…
Yesterday, Jeera prices increased as poor weather conditions hindered supply from the key producing areas, and they eventually decreased by -1.05% to end at 35430 on profit taking. This year, jeera production is down, demand for exports is up, and there is a shortage in stocks. Gujarat has seen an increase in cumin harvests over…
Gold prices were unchanged on Friday, maintaining their proximity to the important $2,000 mark following wild swings this week, but safe-haven demand in the face of a potential banking crisis has left the yellow metal on track for a significant increase this quarter. Prior to staging a rebound on Thursday, when higher-than-expected U.S. jobless claims…
The world’s second-largest consumer of crude oil, China, saw an increase in manufacturing activity on Friday morning, which helped lift confidence. At the same time, fears over Middle Eastern supply also increased. Brent futures, up almost 6% this week, were up 15 cents, or 0.19%, at $79.42 per barrel. After increasing by approximately 8% this…
On Wednesday, gold prices fell as investors gradually retreated into riskier investments, hoping that the risk of the global banking crisis spreading had been temporarily contained. At $1,965.89 per ounce, spot gold was trading 0.4 percent lower. U.S. gold futures decreased 0.3 percent to $1,967.50. According to independent analyst Ross Norman, gold has dropped as…
The government has begun buying 10,727 metric tonnes of wheat for the Rabi marketing season 2023–2024 as opposed to buying nothing last year, the food ministry announced in a statement on Tuesday. The food ministry noted in a statement that “according to the most current reports from FCI field offices, the recent rains have not…
The price of oil held steady in early Asian trade on Thursday as a smaller-than-expected reduction in Russian supplies and a stronger dollar countered an unexpected decrease in U.S. crude oil stocks that had buoyed prices. The price of Brent crude futures was unchanged at $78.28 per barrel. To reach $72.91 a barrel, West Texas…
At the current minimum support price during the rabi procurement season, the government agencies have so far purchased more than 2.48 lakh tonnes of gramme (chana) (MSP). Maharashtra, Karnataka, Gujarat, and Andhra Pradesh are in the middle of their Rabi purchase for gramme. In the major producing states of Madhya Pradesh, Rajasthan, and Uttar Pradesh,…
Due to a drop in domestic demand, the price of turmeric is currently nearly $1,000 per quintal lower than it was last year, but export demand is keeping prices from falling even lower. The current modal price for the finer kind of turmeric in Erode, Tamil Nadu, is $6,183 per quintal, down from $7,790 during…
