On Thursday, the Indian Rupee is most likely to weaken due to an increase in the price of crude oil. After data revealed a larger-than-anticipated drop in US crude stockpiles, oil prices surged. A significant decline in the local currency may be avoided, though, due to the dollar’s weakness and the upbeat outlook for the…
On Wednesday, copper prices stayed around $8,350 a tonne as expectations that China’s relaxation of Covid-19 limits will eventually boost demand were countered by an increase in infections that are short-terming consumption.Due to its rigorous zero-Covid policy, which hampered economic growth and caused copper prices to drop as low as $6,955 in July after reaching…
Farmer payments totaling 82% of the fair and remunerative price (FRP) have been made by the 189 sugar mills currently processing sugarcane through September 2023. By December 19, these mills had crushed 236.69 lakh tonnes (lt) of sugarcane, according to information provided by the Maharashtra Sugar Commissioner office, and they still owed FRP of $7,407.20…
All eyes are on Odisha and Madhya Pradesh, who combined contributed over 13% to the Central Pool last year, to make up for the deficit in Uttar Pradesh and Punjab, as overall rice procurement has increased by 11% so far this season. As the procurement in the State is projected to be on par with…
High gold prices, a lack of participant interest, and inadequate liquidity, according to traders, have made trading on Indian International Bullion Exchange (IIBX), the country’s first international bullion platform, lackluster. Beginning in July, IIBX is operating out of the International Financial Services Centre (IFSC) building in Gandhinagar’s Gujarat International Finance Technology City (GIFT City). Given…
The cotton crop in India for 2022–2023 is expected to be 4.25 lakh bales (each weighing 170 kg) lower than the previous year, when 307.05 lakh bales were produced, due to forecast declines in production in Andhra Pradesh, Karnataka, and Haryana. The CAI predicted a decrease in cotton production for November in Punjab (0.75 lakh…
As prices fluctuate during the current harvest, struggling coffee growers believe that now is the ideal time for the Center to strengthen the only multi-state co-operative Coffee Marketing Co-operative Ltd (COMARK) by providing financial support to the growers’ organization to engage in market intervention activities. Farm gate coffee prices have decreased by approximately a fifth…
Due to a declining dollar and expectations of increased demand in China as a result of the government’s projected economic stimulus, copper prices increased on Monday. The central bank is anticipated to loosen monetary policy soon after the Chinese government announced that it would intensify efforts to stabilize the country’s economy. However, for the time…
When compared to the same period in the previous financial year, the total export of oil meals grew by 50% to 23.92 lakh tonnes (lt) between April and November 202223 from 15.96 lt. The export of oil meals increased by 150 percent from 1.63 lt in November 2021 to 4.07 lt in November 2022, according…
The biggest annual growth rate for any nation will be seen in India’s need for coal in 2022, driven by increased thermal power output to meet higher-than-average summer demand and escalating economic activity. The second-largest consumer of coal in the world increased its consumption by 14% year over year (yoy) to 1,033 million tonnes (mt)…
