Due to strong demand from the domestic and foreign markets, turmeric prices yesterday finished up 3.03% at 15554. The decreased sowing acreage and smaller ending stocks are also causing farmers and stockists to hang onto their supplies in anticipation of price hikes, which is causing a supply deficit in the cash markets. During this season,…
According to the Indian Sugar Mills Association (ISMA), increasing sugarcane diversion for ethanol production is expected to result in a 3.41% decrease in sugar production, or 31.68 million tonne (MT), in the upcoming season (October-September), compared to the season 2022-2023. It is anticipated that 32.8 MT of sugar will be produced this season. According to…
As a result of lower arrivals due to severe rain in Gujarat and Rajasthan, jeera yesterday increased by 0.8% to 59690. To get their produce to market, farmers need help. However, it is anticipated that cumin arrivals will rise after the rains stop, which might alter market trends. Good export demand and anticipation of decreased…
After industry data revealed a significantly steeper-than-expected draw in crude oil stocks last week in the U.S., the largest fuel consumer in the world, oil prices climbed more than 1% on Wednesday, trading close to their highest level since April. While U.S. West Texas Intermediate crude increased by 84 cents, or 1.03%, to $82.21 per…
Due to strong export demand and predictions of lower stock levels at the end of the current marketing year, jeera yesterday decreased by -5.93% to 54640. 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…
On the strength of positive macroeconomic developments and views that the U.S. Federal Reserve is reaching the end of its rate hike cycle, the rupee will maintain its current gains versus the dollar in the next months and will strengthen somewhat in a year, according to a Reuters poll. The Reserve Bank of India (RBI)…
The Ministry of Coal released a statement stating that overall coal production in India increased by 8.4% in the first quarter of FY 2023–24 to 222.93 million tonne (MT) as opposed to 205.65 MT in the first quarter of FY 2022–23. In comparison to 159.63 MT produced during the same period last year, Coal India…
As investors took profits on worries that future interest rate increases by central banks might stifle economic growth and global fuel demand, oil prices declined on Thursday, erasing some of the gains made the day before. The price of Brent crude futures had decreased by 27 cents, or 0.4%, to $73.76 per barrel. American West…
Due to strong export demand and predictions of fewer supplies at the end of the current marketing year, jeera yesterday finished higher by 5.72% at 58085. 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…
Friday saw a more than 3% decline in the price of Multi Commodity Exchange (MCX) shares, a day after the exchange called off the mock trading session for the new trading platform. The exchange is currently putting a new commodity derivative platform into place. According to a circular released by MCX on Thursday, “the exchange…
