As stockpiles in London Metal Exchange (LME) warehouses fell to 56,800 tonnes, the lowest level since 2005, supply concerns caused copper to end yesterday up 0.96% at 782.5. The global physical inventories have reached their lowest point in 14 years, according to Goldman Sachs (NYSE: GS), and the copper supply market is still experiencing a…
A near-record amount of natural gas was produced for the month, which kept prices under pressure. Yesterday, natural gas prices decreased by -3.63% to 172.8 in anticipation that milder weather would lower the need for heating. The United States Energy Information Administration (EIA) predicted that due to milder weather, the country’s power consumption will decrease…
Early trading on Wednesday showed little movement in oil prices as industry data revealed an unexpected increase in U.S. crude and petrol inventories, allaying concerns about a supply shortage prior to OPEC producers cutting their output. U.S. oil futures have shifted into backwardation, with the front-month contract trading 6 cents higher than the second month,…
The 125 lakh hectares of natural fiber in India are planted with cotton, but only 12% of that cotton is organic. With the organic variant, though, islands of ongoing studies show promise. In order to obtain 400 tonnes of organic cotton during the 2022–2023 kharif season, 3,000 tribal farmers have gathered under the auspices of…
On concerns over crop damage from unfavorable weather circumstances, jeera (cumin) prices have risen to a fresh high of 39,765 rupees per quintal from 36,000 logged earlier this month. One of the most popular spices in Indian cooking, jeera is a significant export good. More than 70% of the world’s production and trade is accounted…
Steel producers, led by JSW Steel and Tata Steel, have reported record production in the March quarter despite erratic domestic demand and unrest around the world. According to Tata Steel, the slowdown in its global operations was a major factor in the minor increase in its consolidated production, which increased to 7.59 million tonnes (7.55…
A representative of the economic coordinating Ministry said Indonesia intends to increase its reference price for crude palm oil from $898.29 per tonne in the first half of the month to $932.69 per tonne for the period of April 1630. The pricing would increase Indonesia’s crude palm oil export tax from its existing rate of $80 per…
The first half of the oil year 2022–23, which began in October, saw a 110 percent increase in soya meal and valueadded soya product exports. This was mostly due to large purchases made by Vietnam and its neighbors Bangladesh and Nepal. According to the Soybean Processors Association of India (SOPA), the shipment of meals increased…
After a weakening U.S. dollar in the foreign exchange market, the rupee strengthened by 5 paise to end the day Monday at 81.97 (provisional). The local unit gained 5 paise from its previous finish to close at the interbank foreign exchange market, closing at 81.97 (provisional) versus the dollar after having opened at 81.90 against…
Given that export demand is strong despite weak local demand, turmeric prices yesterday increased by 0.14% to 7024 on short covering. In anticipation of additional price declines, farmers and stockists are releasing their stock of turmeric as harvesting has begun in the main growing regions. Over 5,000–7,000, bags arrive on a daily average in the…
