India’s palm oil imports fell by over 33% in September, reaching a six-month low of 527,314 metric tons. This was primarily due to rising domestic stocks and a rally in Malaysian palm oil prices, which discouraged buyers from importing large volumes. The Solvent Extractors’ Association of India (SEA) reported a decline in overall vegetable oil…
On October 11, worries over the recent spike in oil prices and the withdrawal of foreign capital from the country’s equities markets caused the Indian rupee to fall to a record low vs the US dollar. At the latest quote, the rupee was trading at 84.05. It had fallen as low as 84.0525 against the…
Oil prices edged lower in early Asian trade on Friday as stronger-than-expected U.S. inflation data stoked some doubts about how much interest rates will fall in the coming months. Brent oil futures for December were down 0.5% at $78.98 a barrel, while West Texas Intermediate crude futures were down 0.4% at $74.79 a barrel. Although…
A negative base impact is probably why India’s retail inflation, as measured by the Consumer Price Index, increased to 5.1% in September from 3.65% in August. CPI inflation was 5.02 percent in September 2023. With the expected 5.1% print, the Reserve Bank of India’s (RBI) prediction for retail inflation in the September quarter will align…
The 400 MW deal, which was signed by Suzlon Group on Thursday, comes from JSP Green Wind 1 Pvt Ltd, a division of Jindal Renewables Power Private Limited. The milestone order, according to the company, is the biggest Commercial & Industrial (C&I) gain in the sector. Suzlon’s cumulative order book currently stands at around 5.4…
For the seventh straight trading session on Tuesday, foreign portfolio investors (FPIs) kept selling Indian stocks, taking out an extra Rs 5,729 crore. With the largest single-day selloff on October 4, when FPIs offloaded Rs 15,506 crore, data shows that the cumulative outflow by FPIs over the previous seven days has reached Rs 55,742 crore….
Cotton candy prices rose by 0.11% at 56,810, driven by the USDA’s revision of India’s cotton production forecast for the 2024-25 season to 30.72 million bales, down from previous estimates due to crop damage and pest issues. However, the upside movement remains limited due to moderate demand and weak export activity, especially in key markets…
A “substantial majority” of US Federal Reserve officials supported a half-point rate cut during the September meeting to ease inflation and economic concerns. However, some officials favored a smaller quarter-point cut, indicating a cautious stance. The minutes revealed that while there was broad support for the half-point cut, it was not seen as a commitment…
With the Reserve Bank of India’s (RBI) monetary policy meeting in progress and Governor Shaktikanta Das scheduled to declare the benchmark interest rate decision on October 9, analysts predict that the MPC will maintain the repo rate at 6.50 percent. The MPC is anticipated to consider some significant variables, such as the persistence of inflationary…
Turmeric prices fell by -2.32% to 13,370 due to lower demand and rising arrivals. However, concerns over crop damage and low supply could push prices higher in the coming weeks. Increased sowing may cap further price gains, and dry weather in Indonesia has accelerated harvesting, adding pressure on prices. Rising acreage and low export demand…
