Commodities

CCI almost stops procurement as cotton prices rise up to Rs 6,000/quintal

The CCI had originally estimated a purchase of 100-125 lakh bales at the start of the season. Wholesale prices of cotton in most mandis in Maharashtra ranged from Rs 5,400 to Rs 5,500 per quintal in the last week of December.
Aggrawal said prices were getting aligned since the demand was slowly returning back to normal after the Covid pandemic.

Prices fall below MSP; pulses procurement to begin soon

“Prices should rule Rs 5,400-5,500 per quintal on the downside and Rs 6,200 per quintal on the upward side till March end.”

The Nafed is learnt to have given these states a target of nearly 15 lakh tonne.

Gold, Silver may trade sideways to down in near future but long-term trend remains positive

The current selling in bullion prices is expected to be short-lived with bullish long term trend. 

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Domestic crude production down 6% in the fiscal

India imported 3.7 mb/d of crude oil during 8M-FY21 compared with 4.5 mb/d during 8M-FY20.

Refineries processed 4.2 mb/d over the period compared with 5.1 mb/d of crude processed during 8M-FY20.

India’s fuel demand at 11-month high in December

The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to Oil Ministry data

India fuel demand, India demand of Oil, Oil ministry data, oil demand 11 month high in Dec, Fuel consumption rise due to festive season, fuel prices

Wall Street Is the Most Bullish on Commodities in a Decade

That’s a stark turnaround for a corner of the financial market that had been struggling to lure investors since the China-driven commodities super-cycle earlier this century.

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India sees robust export demand for its soya meal

The United States Department of Agriculture (USDA) has reduced India’s crop estimate to 90 lakh tonne versus earlier estimate of 114 lakh tonne.

Significantly, the US has turned out to be India’s biggest soya meal buyer.

Prices of edible oils to stay high till March: Experts

The government had reduced the import duty on palm oil by 10% in November to control rising prices. However, it did not help as exporting countries increased prices as well as export duties.

The association has also urged the government to subsidise the sale of edible oil through the public distribution system, as prices are expected to stay firm till April-May 2021.

CAI ups crop estimate by 2.50 lakh bales for 2020-21 season

The Cotton Association of India (CAI) has raised the crop estimate by 2.50 lakh bales to 358.50 lakh bales for the 2020-21 season because of a high carryover stock.

CAI increases its crop estimate for 2020-21 cotton season to 358.50 lakh bales

Cotton Association of India (CAI) on Thursday said it has increased its crop estimate by 2.50 lakh bales for the 2020-21 season to 358.50 lakh bales due to more carry over stock. The total cotton prod

Petrol, diesel prices hit record high as crude oil prices rebound; inflation concerns grow

While petrol pieces are at a lifetime high in Delhi, diesel prices are at a record high in Mumbai, at Rs 81.07 a litre.

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Alphonso — the King of mangoes — to arrive late in markets this year

Arrival of Alphonso mangoes this year is likely to get delayed by at least a month since the flowering has been hit due to erratic weather conditions in the key producing regions of Maharashtra.

India likely to export 10 MT of non-Basmati rice in 2020-21 season

The country had exported 8 million tonne in 2017-18, the highest export of non-basmati rice so far, B Krishna Rao, president, AIREA, said.

non basmati rice

Sugar production up 42% in Oct-Dec at 110.22 lakh tonne: ISMA

Indian Sugar Mills Association (ISMA) said in a statement that mills produced 110.22 lakh tonne of sugar during October-December period of 2020-21 sugar marketing year as against 77.63 lakh tonne in t

The company also has a significant presence in the farm inputs business through its subsidiary Coromandel International.

Gold may trade with bullish bias this week; rising covid-19 cases keeps risk premium high

At MCX, Gold February prices have near term resistance at Rs. 51200 per 10 grams and support at Rs. 49700 per 10 gram.

Prior to the inflows seen in the past two years, the safe-haven asset had witnessed an outflow between 2013 and 2018.

Gold prices surge today as yellow metal hit 8-week high internationally; silver jumps over 2%

Gold prices in India jumped over one per cent on Monday, taking cues from the international prices where yellow metal hit eight-week high

gold prices, gold, silver, MCX

Nationwide average retail price of onions down 60% since last year: Govt

"In one month alone, the all-India average retail price of onion has dropped by 33.33 per cent to Rs 40 per kg today from Rs 60 per kg on November 30 this year," she said.

"Around Rs 70,000-75,000 tonnes of onions were imported through private trades in 2020. Nafed also imported around 3,000 tonnes of onions," she said.

Gold prices rally 28% so far this year; yellow metal likely to touch Rs 65,000 per 10 gm in 2021

Gold prices act as a hedge against inflation amid the low-interest rate environment and a huge amount of liquidity infusion in the economy

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Maharashtra to give an extra push for raisin and jaggery exports

In 2019-20, around 341,155 tonnes of jaggery were exported from the country with Sri Lanka being the biggest buyer at some 51,210 tonnes.

Raisin exports on the other hand remained subdued at 24,668 tonnes in 2019-20.

Govt buys 462.88 lakh tonnes of paddy so far this kharif season for Rs 87,392 crore

The government continues to procure Kharif 2020-21 crops at MSP from farmers, an official statement said. The kharif marketing season starts from October.

FCI

Orange prices decline as farmer protests in Delhi affect movement

“The Ambia Bahar season, which commenced from September, will conclude in January. The crop has been good despite the long rainy season. The farm protests, however, have led to oversupply in the loc

Orange growers said traders from West Bengal, Tamil Nadu and Kerala are a bit hesitant to order truckload of oranges due to the economic slowdown as they are not sure if people will consume enough.

Govt lifts ban on onion exports from January 1

Onion prices have since eased. In Delhi, the wholesale prices have dropped by 25% since the ban was imposed to Rs 1,425 per quintal on Monday, according to the data available with the consumer affairs

According to a notification by the directorate general of foreign trade on Monday, the “export of all varieties of onions” has been made “free” from January 1, 2021.

Export subsidy, rise in ethanol price to increase operating margin of sugar mills in FY21: Report

The Cabinet Committee on Economic Affairs (CCEA) had recently approved an export subsidy of Rs 3,500 crore for up to 6 million tonnes (around Rs 5.8 per kg) for SS21.

Further, the report stated that the price of ethanol procured by oil marketing companies was hiked recently by 4.4-6.2 per cent to encourage supply of ethanol for blending with fuel.

MCX launches futures trading in natural rubber

The launch of rubber futures comes after strong demand from physical participants including small-mid sized producers/consumers and large physical side corporate houses.

The rubber futures are of compulsory delivery logic contracts. They would finally be settled at expiry on the last business day of the contract month.
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