Profit taking caused by worries about China’s demand, a significant buyer, caused cotton candy prices to end the day down by -0.23% at 60,840. The estimates for cotton in the United States for 2023–2024 show higher initial stockpiles but decreased production, exports, and ending stocks. High beginning stocks for 2022–2023 were also a result of…
As investors priced in a pause in interest rate increases by the Federal Reserve during its policy meeting this week, with a focus on the U.S. central bank’s rate outlook, gold prices nudged higher on Monday. The price of spot gold increased 0.2% to $1,928.19 per ounce. American gold futures increased 0.2% to $1,949.30. Ahead…
The windfall tax on domestic crude oil output has been raised by the Union government from Rs. 6,700 per tonne to Rs. 10,000 per tonne. The price hike will take effect on September 16. The special additional excise tax (SAED) on aviation turbine fuel (ATF) has been reduced by the government from 4 to 3.50…
On Friday, oil prices reached their highest point in ten months as a result of China reducing the amount of cash reserves that banks were required to hold in order to support its economic recovery and amid anticipation that the major cycles of global interest rate hikes were coming to an end. West Texas Intermediate…
A decrease in local supplies caused a 0.5% small uptick in the jeera market yesterday, which closed at 63175. With millers maintaining fewer inventories, holiday demand for jeera has piqued stockists’ interest. However, exporters are not now benefiting from the price competitiveness of Indian jeera, which may slow down export activity in the upcoming weeks….
Cotton prices fell by -0.81%, ending the day at 60900, mostly because of worries about demand from China. The cotton market in the United States for 2023–2024 shows higher initial stocks but decreased production, exports, and ending stocks. Higher beginning stocks for 2022–2023 were a result of unexpectedly substantial warehouse stockpiles reported for July 31,…
Following a brief decline the previous day, oil prices increased on Thursday as traders’ attention returned to the prospect of a limited supply of crude for the remainder of 2023. International benchmark Brent futures increased 17 cents to $92.05 a barrel, while West Texas Intermediate crude (WTI) increased 19 cents to $88.71. The International Energy…
In response to recent increases brought about by a reduction in local market supplies, jeera prices saw a -1.49% dip driven by profit booking. Stockists have shown growing interest as the demand for jeera during festivals rises, especially when millers’ inventories are getting smaller. Although Indian jeera is now priced competitively, this does not benefit…
The price of copper decreased a little by -0.18%, ending the day at 732.1. Although encouraging signs from China, the world’s largest buyer of metals, restricted the losses, this decline was caused by a stronger currency and rising copper inventories. The amount of copper stocks in LME-registered warehouses increased by 1,125 tonnes, reaching a total…
As investors awaited a barrage of macroeconomic data due later this week that could suggest whether Europe and the U.S. continue to boost interest rates, Brent oil futures stayed slightly above $90 a barrel on Tuesday. The benchmark Brent contract for international markets fell 6 cents to $90.58 a barrel, while West Texas Intermediate oil…
