Aluminum prices rose 1.1% to ₹252.55 on supply concerns and EU sanctions on Russian aluminum imports.Also, aluminum stocks in LME-registered warehouses have fallen 45% since May 2024, totaling just 619,375 tonnes. More than 60% of canceled warrants indicate that more aluminum could leave LME warehouses in the coming weeks, significantly reducing supply. This supply reduction…
Cotton candy prices dropped by 0.15% at ₹54,220, driven by the WASDE report, which projected a rise in global cotton production and ending stocks for the 2024/25 crop year. Global cotton production is estimated to increase by over 1.2 million bales, reaching 117.4 million bales, primarily due to higher production in India and Argentina. However,…
The 2024-25 rabi season has seen significant developments, with wheat acreage reaching an all-time high of 320 lakh hectares, surpassing last year’s total of 318.33 hectares. This expansion in wheat coverage reflects favorable crop conditions, with no reported pest issues and cool weather benefiting the crop. The government has set a target of 115 million…
Gold prices rose 0.71% to ₹78,710 on better-than-expected US inflation data, which raised the prospect of a less restrictive monetary policy from the Federal Reserve. This led to a surprise decline in annual core consumer inflation, and the Fed’s earlier rate cuts in July than in September raised market expectations. Global demand for gold remained…
Turmeric prices have risen by 0.15% to ₹14,522, due to concerns over slower rhizome growth and low yield estimates for the crop. Farmers are predicting lower yields, making it crucial to monitor harvest progress. The arrival of new crops is expected to increase post-Makar Sankranti, but supply will likely remain tight. Harvesting has begun in…
Crude oil prices fell 1.84% to ₹6,736 on profit-taking, despite continued support from US sanctions on Russian oil supplies. The US Treasury Department imposed sanctions on Gazprom (MCX:GAZP) Neft, Surgutneftegaz and 183 vessels in Russia’s shadow fleet, which could cut Russian oil exports by up to 800,000 barrels per day (bpd). However, lower oil imports…
Tumeric prices rose 0.36% to ₹15,200 due to low arrivals in the market. Profits were limited as crop conditions remained stable with minor setbacks in weather. Inflows rose to 9,030 bags from 7,965 bags in the previous session, however, low stock levels in the market are providing basic support to prices till fresh supplies arrive….
Jeera prices fell by 0.32% to ₹23,360 due to delayed sowing in Gujarat and Rajasthan, impacted by higher temperatures. Gujarat, the largest producer, has only 57,915 hectares of sowing, below last year’s 2.44 lakh hectares and the normal cropping area of 3.81 lakh hectares. India’s cumin seed production for 2023-24 increased to 8.6 lakh tonnes,…
Cotton candy prices have fallen by 0.11% to ₹54,820, as global cotton production for CY 2024-25 is projected to rise by over 1.2 million bales to 117.4 million bales, driven by increased output in India and Argentina. However, cotton arrivals in Punjab, Haryana, and Rajasthan have declined by 43%, raising concerns across the supply chain….
Gold prices rose 0.28% to ₹77,747 on the back of the Federal Reserve’s rate cut for 2025 amid concerns over taxation after the US election. A stronger dollar and higher Treasury yields generally weigh on gold. Following three rate cuts in 2024, the Fed is expecting two more cuts in 2025, with markets easing by…
