Over the past few days, raw coffee prices have increased, bringing some respite to struggling growers. As a result, rather than selling their beans “outright,” the bulk of growers are turning to “consignment sales.”Growers are holding their products with coffee curers through consignment sales in anticipation of future price increases. Stakeholders claimed that the crop…
On Monday, the Indian rupee is anticipated to weaken due to a strong dollar and an increase in crude oil prices. The dollar is trading close to its five-week high as expectations for continued Fed policy tightening rise in the wake of the Labor Department’s revision of the CPI data upward for the previous three…
Forward-looking polls from the Reserve Bank of India indicate a general improvement in the economy. While a survey of 40 professional forecasters on macroeconomic indicators predicted GDP growth of 6.6-7.2% for 2022–2023, a survey on the outlook for services and infrastructure revealed an improvement in the general business environment, with respondents especially upbeat about employment…
While investors anticipated this week’s U.S. inflation statistics for clues on the Federal Reserve’s interest rate hike path, gold prices inched lower on Monday in the international markets as the dollar strengthened. At $1,861.76 per ounce, spot gold was down 0.2 percent. The price of U.S. gold futures fell by 0.1 percent to $1,872.40. On…
The Multi Commodity Exchange of India will restart trading in cotton futures on Monday after a five-month suspension. To better coincide with domestic markets, the cotton futures were redesigned and suspended. Trading will be possible in cotton futures for April, June, and August deliveries. The cotton market could benefit from support, according to experts, once…
The recovery in local markets helped the rupee trim its initial losses and end the day unchanged at 82.54 (provisional) vs the US dollar. The local currency started the day at 82.59 versus the dollar on the interbank foreign exchange market and fluctuated during the day between a low of 82.66 and a high of…
Private weather forecaster Skymet has stated that the lack of rain is diminishing the atmospheric moisture levels and causing the heat stress to increase, which is harmful to winter-grown cereal. This is happening three weeks before grain filling begins in the wheat in much of northern India. However, early sowing of the wheat crop in…
Despite a decline over the Chinese Lunar New Year holidays, copper prices are predicted to continue to rise this year. Political upheaval around the world could lead to additional gains for the red metal, but there are also huge hazards, according to specialists. Chinese copper cathode production in January was 41,700 tonnes less than the…
On Thursday, the Indian rupee depreciated by 10 paise to open at 82.59 against the dollar, down from the previous close of 82.49. Due to the strengthening dollar and growing price of crude oil, the local currency is anticipated to decline today. Additionally, a consistent FII exodus from domestic equity markets could put pressure on…
In the second half of the year, when China’s economy emerges from anti-virus lockdowns, crude oil prices could reach $100 per barrel, according to Iran’s liaison to OPEC. Afshin Javan, Iran’s national representative to the OPEC producer group, stated on the fringes of the India Energy Week conference in Bengaluru that “we have some market…
