Yesterday, crude oil fell by -4.64% to trade at 5756 as worries about the U.S. debt ceiling agreement dampened the market’s risk-on mood and conflicting signals from key producers muddied the supply outlook ahead of their meeting this weekend. Last week, Saudi Arabia’s Energy Minister Abdulaziz bin Salman cautioned short-sellers who were wagering that oil…
The Bt cotton seed market is experiencing a shortage of branded hybrids, particularly in the central and south zones, amid expectations that the cotton acreage in the forthcoming Kharif season would surpass last year’s coverage, according to vendors. Last year’s seed production was hampered by an abundance of rain, which affected the market. This year’s…
In anticipation of an increase in local supplies, the price of turmeric yesterday decreased by 0.2% to 8034 as profit was booked. In anticipation of a price decline, traders are also displaying less interest in the current price levels and refraining from mass purchasing. Given that farmers are receiving a fair price for their produce,…
The price of copper yesterday increased by 0.26% to 714.3 as rising supply worries and hopes for government assistance overshadowed signs of weak demand. Since metal is a crucial raw material for the switch to renewable resources, major market players have continued to raise worries that the supply of copper cannot keep up with anticipated…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera rose 0.7% yesterday to conclude at 44015. Prices increased as crop worries grew as a result of Rajasthan, the state that produces the majority of the crops, experiencing unseasonal rains and hailstorms. This season, the market…
Gold yesterday decreased -0.18% to 59353 as the dollar index stayed close to two-month highs above 104, helped by rising predictions that US interest rates may stay high for longer than originally predicted. Market expectations were higher than the most recent PCE inflation data, which raised the possibility that the Federal Reserve would retain its…
As Punjabi farmers are expected to reduce the acreage during the kharif planting season, the area under cotton in North India is unlikely to increase from levels seen last year. Farmers in Rajasthan and Haryana, however, are likely to plant more land in the natural fiber crop as a result of early April’s unexpected rains….
Cotton prices yesterday decreased by -0.59% to 57500 as farmers who had been hanging onto their crop in anticipation of a return to record-high prices from the previous year have begun to sell their harvest. From the historical average of 20,000 bales per day in May, the daily arrival of cotton in the markets has…
Due to improved planting conditions in UP and Bihar and sluggish export demand, menthol oil yesterday declined by 0.6% to settle at 961.6. Efforts to plant have benefited from the recent rainy season in Uttar Pradesh and Bihar. Mentha’s seeding activities would benefit from the predicted higher-than-average May rains. The price will be under pressure…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera yesterday finished up 1.35% at 44695. Prices increased as concerns about the harvest grew owing to hailstorms and unseasonal rains in Rajasthan, the state that produces the majority of the food. Demand from domestic and international…
