In addition to choosing the traditional safety-first approach when importing two lakh tonnes (lt) of parboiled rice from India, Bangladesh appears to have more faith in Indian cooperatives. The Directorate of Food in Bangladesh’s External Procurement division last week sent letters of intent (LOI) to NCCF (National Cooperative Consumers Federation of India Ltd) and Kendriya…
Telangana and Andhra Pradesh have seen a sharp decline in cotton arrivals. When compared to the same day last year, when arrivals were 3.61 lakh quintals, this year’s arrivals at Warangal market yard have decreased by nearly 45% to 1.98 lakh quintals. Farmers have attributed the poor yields this year to excessive rains at the…
The 67,363.62 tonnes of wheat that the Haryana State Cooperative Supply and Marketing Federation (HAFED) commercially purchased from Haryana and Madhya Pradesh during the previous harvesting season (April–June) are now up for sale. It will this time be offered for sale online. The NCDEX e Markets (‘NeML’), Star Agribazaar Technology (‘Agribazaar’), and E Tech Innovative…
Amid rising crude oil prices and ongoing capital outflows from abroad, the rupee started the session Monday on a flat note against the U.S. dollar. The rupee depreciated 1 paisa from the previous close to trade at 82.83 at the interbank foreign exchange from its opening price of 82.79. The rupee lost 3 paisas against…
Oil prices increased on Friday as traders bet that Russian crude exports from the Baltic region will decline in December, allaying concerns that an impending Arctic storm across the United States could dampen the rise in demand for transportation fuel over the holiday season. Brent crude was up 88 cents, or 1.1%, to $81.86 per…
In a government-to-government agreement, Bangladesh has given Indian co-operatives almost $40 per tonne more than what the private commerce had bid in a global import tender for 2.5 lakh tonnes of parboiled rice. Two tranches of the import agreement will be made through NCCF (National Co-operative Consumers Federation) and Kendriya Bhandar, with Dhaka receiving rice…
In response to rising domestic and international demand, the price of the common spice cumin (jeera) has increased significantly by at least ‘300 per 20 kg in the past week. The commodity’s price increased from 4,800 to 5,100 to 5,100 to 5,500 in just the past week. According to market experts, this bull run is…
On Wednesday, copper prices stayed around $8,350 a tonne as expectations that China’s relaxation of Covid-19 limits will eventually boost demand were countered by an increase in infections that are short-terming consumption.Due to its rigorous zero-Covid policy, which hampered economic growth and caused copper prices to drop as low as $6,955 in July after reaching…
All eyes are on Odisha and Madhya Pradesh, who combined contributed over 13% to the Central Pool last year, to make up for the deficit in Uttar Pradesh and Punjab, as overall rice procurement has increased by 11% so far this season. As the procurement in the State is projected to be on par with…
