The industry anticipates that soya meal shipments would more than double to 14 lakh tonnes (lt) in the current oil season (October 2022–September 2023) due to the recovery in demand for Indian soya meal, particularly from SouthEast Asian and Far Eastern countries. Exports of soya meals are off to a good start. Shipments climbed by…
Rupee started the day higher versus the dollar at 82.58, up 13 paisas from its previous close of 82.72 on Tuesday as the value of the dollar against a basket of six peers remained stable. Tuesday saw a decline in the price of crude oil, helping the currency. A weaker dollar and upbeat global market…
In response to a question in the Rajya Sabha, Minister of State for Petroleum & Natural Gas Rameswar Teli stated that the Special Additional Excise Duty (SAED) collection for FY23 is estimated at a level of ₹25,000 crores from crude oil production, export of gasoline, diesel fuel, and aviation turbine fuel (ATF). The SAED, also…
Retail inflation measured by the Consumer Price Index (CPI) surpassed the RBI’s upper tolerance level in January after dropping for the previous two months and increased from 5.72% in December to 6.5 percent. The more expensive cereals, along with spices and other food items, are one of the main causes of the increase to a…
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…
