Commodities

Gold buying estimated to fall by half in Gujarat, but to still beat jeweller expectations

Generally, Diwali buying starts in Gujarat from Pushya Nakshatra and continues till Labh Pancham (the fifth day after Diwali).

This year, on the day of Pushya Nakshatra (last Sunday), Gujarat witnessed buying of gold and silver worth Rs 350 crore, said Jigar Soni, president of the Ahmedabad Jewellers Association.

Gold prices edge higher after Rs 2,500-crash in previous session; silver rates rally over Rs 1,300/kg

Analysts say latest headlines regarding COVID-19 vaccine is negative for gold but investors should wait for the dust to settle before making any changes in their gold investment.

gold price, silver, mcx, COVID-19 vaccine

Gold prices rally over Rs 1,700 in 6 days; should investors buy, sell or hold ahead of Dhanteras, Diwali?

Extending gains from last week, gold is set to post its best week since July this year supported by a weaker dollar.

Gold, Silver

Cotton procurement begins, CCI hopes prices will improve in due course

Procurement has begun in Punjab, Haryana, Telangana, Rajasthan and Madhya Pradesh. The CCI has been selling new cotton at Rs 41,500-42,000 per candy.

Gold demand rebounds in India but this time it’s not jewellery; yellow metal attracts investors

Overall gold consumer demand -- including jewellery, bars and coins -- witnessed a 35.8 per cent growth to 86.6 tonnes on a quarterly basis.

gold demand, jewellery, consumer gold demand, gold bars, gold coins

Gold prices fall Rs 250 ahead of US election outcome; yellow metal off over 8.5% from record high

Gold may witness choppy trade as the market reacts to the outcome of the US election however hopes of additional stimulus measures may keep price supported

gold price, gold rate, US election

Are petrol, diesel prices set to fall as Covid forces Europe into 2nd round of lockdowns?

While petrol prices have remained unchanged since 22 September 2020, diesel rates have been static since 2 October 2020.

Crude, Petrol, Diesel prices, fuel rate, coronavirus, indian economy

NAFED invites bids for 15,000 tonne onion from importers

The cooperative has asked bidders to supply 40-60 mm size of red onion from any country of origin at Rs 50 per kg by November 20. They can bid for a minimum quantity of 2,000 tonne to be supplied in m

The bidding will close on November 4 and received bids will be opened on the same day. Shipments are to be delivered at the Jawaharlal Nehru Port and Kandla Port, it added.

Mandi arrivals: Seven key summer crops see big drop

Only three crops -- groundnut, jowar and moong -- have recorded higher arrivals on year (see chart). Even in the case of jowar and moong, arrivals fell in the largest-producing states of Maharashtra (

economic growth, gdp growth, reforms, labour reforms, agriculture reforms, IBC, GST

Aloo, pyaz getting out of reach for poor, Rs 150 not enough to buy these veggies

Last week, Food and Consumer Affairs Minister Piyush Goyal had said about 7,000 tonnes of onion have already been imported by private traders and 25,000 tonnes more are expected to arrive before Diwal

Nafed floats bids for supply of 15,000 tonnes of imported red onions by November 20

The cooperative has asked bidders to supply 40 to 60 mm size of red onions from any country of origin at Rs 50 per kg by November 20.

India to import over 30,000 tonne of onion, potato

According to the minister, retail potato prices are also stable at Rs 42 per kg for the past few days.

The bidding will close on November 4 and received bids will be opened on the same day. Shipments are to be delivered at the Jawaharlal Nehru Port and Kandla Port, it added.

7,000 tonnes onion already imported, 25,000 tonnes likely to arrive before Diwali: Piyush Goyal

The government has relaxed fumigation norms for import of onion and export of onion seeds have been banned, he added.

The government relaxed fumigation norms for import of onion till December. So far, 7,000 tonnes of onion has been imported by private traders, he said.

mjunction’s tea fetches higher price for TGFOP variety

The previous highest price of the variety from the same garden was Rs 930/kg, significantly registering an uptick in prices in a week’s time.

An mjunction official said the bidding for the variety started from Rs 820/kg and finally rose up to Rs 950/kg.

Hike in ethanol prices to help sugar mills to clear cane dues

Further, regarding jute bags, it will also be mandatory that initially 10% of the indents of jute bags for packing foodgrains would be placed through reverse auction on the GEM portal.

The CCEA also approved that 100% of food grains and 20% of sugar shall be mandatorily packed in diversified jute bags, a move that could give an impetus to the diversification of the jute industry.

Onion traders to get three days’ time before enforcement of stock limits: Govt

In the wake of spiralling onion prices, the government has imposed stock limits on retail and wholesale onion traders with effect from October 23. Till December-end, retailers are allowed to stock oni

Weak sentiment, high prices, other factors hit gold demand in Q2; yellow metal demand falls 30%

Disruptions caused by the coronavirus pandemic, weak consumer sentiment, and high prices are widely the reasons attributed to the low gold demand.

Jewellery Insurance, Muthoot Gold, insurance, home insurance policy, premium,

Govt hikes ethanol price by up to Rs 3.34/ltr

Government has notified administered price of ethanol since 2014. For the first time during 2018, the differential price of ethanol-based on raw material utilized for ethanol production was announced

For 2020-21, OMCs have projected a requirement of 465 crore litres of ethanol for meeting the 10 per cent blending target.

COVID impact: Global gold demand dips 19 pc in September quarter to 892.3 tonnes, says WGC

The total global demand during July-September 2019, stood at 1,100.2 tonnes, according to WGC's Q3 Gold Demand Trends' report.

Sugar consumption stagnant in India; need to bust myths about its use: Govt

The country's annual sugar consumption stood at 25-26 million tonne, while production reached 27.5 million tonne in the 2019-20 season ending September.

During the 2019-20 season, India posted record sugar exports of almost 60 lakh tonne and created new markets by establishing Indian brands.

Onion traders in Nashik continue to boycott auctions

Onion traders said they will hold another meeting on Thursday to take a decision on the issue. Traders will also meet the district collector on Thursday.

Daga said traders plan to hold a meeting among themselves before meeting the district collector on Thursday and auctions will remain suspended till the issue is resolved.

Govt releasing 1 lakh tonnes of onion buffer stock to tackle price rise, says Agriculture Minister Narendra Tomar

Referring to the Congress's protests on the new farm laws, Tomar accused the opposition party of having double standards.

Onions, onion prices, Onion crisis, Narendra Singh Tomar, Farm crisis, Modi govt, farm laws

Imported onion likely to ease prices in city wholesale market

Since the last few weeks, onion prices have remained northbound after crop loss in south India due to incessant rain.

Wholesale prices at Posta market have come down to Rs 55-60 a kg from a high of Rs 67.50 a few days ago.

China aggressively buying Indian castor seeds to bolster reserves: SEA

The Solvent Extractors Association of India (SEA) has alleged that China has been attempting to buy castor seed in a big way from India.

Groundnut oil prices skyrocketing

Compared to previous year’s prices during the last week of October, there is nearly 20-30% surge in the groundnut prices.

Govt mulls extending soft loans to grain-based distilleries for raising ethanol production capacity

With an expected increase in supply of ethanol this year, the government hopes to achieve the target of 10 per cent ethanol blending in 2020-21.

Onion prices drop by up to Rs 10/kg in consuming markets on govt action against hoarding

Among consuming markets, government data showed that wholesale onion prices in Chennai declined to Rs 66 per kg on October 24 from Rs 76 per kg on October 23.

In Chennai, daily arrivals rose to 1,400 tonnes from 1,120 tonnes earlier. Similarly in Bengaluru, daily arrival in mandis rose to 3,000 tonnes from 2,500 tonnes.
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