Due to weak demand and record production in the 2021–22 crop year (July–June), dealers claim that turmeric has reversed the gains seen after Diwali. “Shortly after Diwali, turmeric prices in Telangana and Maharashtra marketplaces increased by $300–$400 per quintal. However, due to a decline in demand, they have already returned to their pre-Diwali levels. This…
Oil prices rebounded from a one-year low on Friday as traders bought into severely discounted markets, but they were still headed for steep losses this week as the outlook for petroleum consumption was weakened by growing recession fears and rising interest rates. The U.S.-Canada Keystone pipeline was shut down after a spill in Kansas, but…
In anticipation of important U.S. inflation data anticipated later in the day, investors made few moves in the price of gold and copper on Friday. However, the red metal was expected to have a strong week thanks to expectations that COVID limitations in China will be loosened. As a result of some safe haven trades…
The Cotton Association of India (CAI), the industry’s leading organization, has urged the Minister of Commerce, Food, and Textiles, to immediately reduce the 11 percent import duty on cotton. Atul S. Ganatra, president of CAI, wrote to Goyal to demand that the government reduce the duty on cotton because domestic prices are 15% higher than…
Hindustan Unilever, a major FMCG company, entered the health and wellbeing market by making strategic investments in Nutritionalab’s Wellbeing Nutrition and OZiva from Zywie Ventures. HUL would pay ‘264 crore in cash to acquire a 51% interest in OZiva through a combination of primary infusion and secondary buy-outs. HUL stated that the remaining 49% will…
According to Jyotiraditya Scindia, Union Minister of Steel, at least eight coking coal blocks would be put up for auction as India seeks to strengthen its own resources and lessen reliance on imported coal. India is still looking at “alternatives” and has conversations with nations like Russia, Mozambique, and Australia. Coking coal is a crucial…
Lead prices have risen by 9% in the last month, which has improved the forecast for the metal for the rest of this year and the first quarter of 2023. A rise in Chinese activity has been “the most significant driver of this transition,” according to a commentary from research firm Fitch Solutions Country Risk…
The Reserve Bank of India’s decision to permit Indian companies to hedge their gold price risk on recognized exchanges in the International Financial Services Centre (IFSC) will increase liquidity in bullion derivatives traded on the NSE International Financial Service Center and the India International Exchange, both of which are promoted by the BSE. Additionally, the…
According to information available on NSE, foreign institutional investors (FII) sold shares worth a net of Rs 1,241.87 crore on December 7, 2022, while domestic institutional investors (DII) purchased shares worth a net of Rs 388.85 crore.Up to December 7, FIIs sold shares totaling a net amount of Rs 4,367.46 crore, while DIIs purchased shares…
The markets appear to have agreed that the monetary policy decision is mostly hawkish after RBI Governor Shaktikanta Das asked the media, markets, and “informed circle” to estimate whether the MPC’s meeting outcome is hawkish, dovish, or “something else” totally. Despite the fact that investors had anticipated the repo rate increase of 35 basis points…
