Brent futures dropped 3 cents to $82.77 per barrel, while May U.S. West Texas Intermediate (WTI) dropped 11 cents to $78.63. On Monday, WTI ended the day down $1.24 at $78.74 a barrel, while Brent finished 75 cents lower at $82.80 a barrel. To maintain prices in the face of worries about the global economy…
The government has approved the shipment of 80,000 tons of broken rice to Djibouti and Guinea Bissau, and 30,000 tons of non-basmati white rice to Tanzania. The Directorate General of Foreign Trade (DGFT) has stated in a notification that the export is authorized through National Cooperative Exports Limited (NCEL). West African Guinea-Bissau is a tropical…
Natural gas prices fell by -2.55% to settle at 153.1, mostly as a result of excess supply brought on by a mild winter and record output levels. In the week that concluded on February 23, 2024, U.S. utilities removed 96 billion cubic feet of natural gas from storage, surpassing the 88 billion cubic feet that…
Considering a global supply rise predicted after July, the Southern India Mills’ Association (SIMA) advised textile mills to refrain from panic buying amid rising cotton prices. Net sales decreased by 69% in 2023/2024 compared to the previous week and 83% from the previous 4-week average, according to data released by the U.S. Department of Agriculture…
Following OPEC+ members’ decision to extend its voluntary oil output cutbacks of 2.2 million barrels per day into the second quarter, which was mostly expected by the market, oil prices increased on Monday. U.S. West Texas Intermediate (WTI) was up 20 cents, or 0.3%, to $80.17 a barrel, while Brent futures was up 28 cents,…
For the week ending February 23, India’s foreign exchange reserves increased by USD 2.975 billion to USD 619.072 billion. The total reserves had decreased to USD 616.097 billion from USD 1.132 billion during the previous reporting week. The foreign currency assets rose by USD 2.405 billion to USD 548.188 billion during the week ending February…
The government of India stated in a statement on Thursday that below-average rainfall is projected to cause rice production to decline for the first time in eight years in 2023–2024, while wheat production is predicted to increase by 1.3% from the previous year. The world’s top exporter is closely monitoring its rice production after New…
Food grain production in the nation is expected to be roughly 154.19 million tonnes during the kharif season and 155.12 million tonnes during the rabi season in 2023–2024, according to government estimates released on Thursday. The output of Kharif rice is projected to be 111.46 million tonnes, according to the Ministry of Agriculture and Farmers’…
Friday saw a decline in the majority of Asian currencies as the dollar held onto its overnight gains as signals of China’s ongoing economic deterioration mostly overshadowed hopes for a reduction in U.S. interest rates and inflation. China’s purchasing managers index (PMI) data through February indicated a slow recovery in economic activity, suggesting that the…
The spot market’s diminished supply of turmeric helped drive up prices by 2.94%, settling at 17162. As purchasing activity decreased in advance of stock releases before the new crops, the market saw no increase in value. Positive mood in the market is expected to be sustained in the near term by delayed new crop harvesting…
