Commodities

Petroleum consumption contracts 9.1% in FY21

Petroleum sales have fallen for the first time since FY99, for which data is available with the government’s petroleum planning and analysis cell (PPAC).

Diesel usage, which comprise about 40% of overall product sales, dipped 11.9% to 72.7 MT in FY21, while demand of petrol fell 6.7% to 27.9 MT.

India’s fuel consumption contracts 9.1 pc in FY21; first since 1998-99

India consumed 194.63 million tonnes of petroleum products in 2020-21 as compared with 214.12 million tonnes demand in the previous year, according to the latest data released by the oil ministry's Pe

Fuel consumption had halved in April last year following the imposition of the lockdown. It started to recover after the lockdown restrictions were eased.

Zaid crops sowing up 16.49 pc so far this year: Govt

The total area sown to zaid (summer) crops has increased by 16.49 per cent to 67.87 lakh hectare so far this year and maximum coverage has been under paddy, according to Agriculture Ministry data

zaid crops, Agriculture Ministry data, Rabi (winter) harvest, Kharif (monsoon) sowing, covid pandemic, Agriculture crops

Gold prices trade weak, down 17% from record high; may touch Rs 48,500 in coming days

Gold and silver prices fell in Indian markets on Friday, amid weak global cues. Gold June futures were ruling at Rs 46,759 per 10 gram, down Rs 79 or 0.17 per cent.

gold, silver, gold rates, gold mcx, MCX

Petrol and diesel price today 9 April 2021: Fuel prices steady; check rates in Mumbai, Delhi, other cities

Petrol and Diesel Price Today in India: Petrol and Diesel rate on April 9 remained the same as yesterday. Fuel prices are the highest in Mumbai.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

Rising DAP, potash prices dampen kharif yield prospects

Prices of phosphatic and potassic fertilisers are determined by the market as subsidies provided by the government are minimal and fixed. These fertilisers are mostly imported.

India’s fertiliser consumption in FY20 was about 61 million tonne — of which 55% was urea — and is estimated to have increased by 5 million tonne in FY21. Since non-urea (MoP, DAP, complex) varieties cost higher, many farmers prefer to use more urea than actually needed.

India to resume buying oil from Iran once US sanctions ease

The US and other world powers are meeting in Vienna to revive the Iran nuclear deal. "Once the sanctions are lifted, we can look to resume oil imports from Iran," the official, who did not wish to be

Indian refiners have begun preparatory work and can swiftly enter into contracts once the sanctions are lifted, he said.

Gold prices fall on Thursday after rising to one-month high in previous session; MCX silver slumps

Gold prices were trading lower in Indian markets on Thursday after surging to a one-month high of Rs 46,400 in the previous session.

gold, mcx gold, gold prices, gold rate, silver

Petrol and diesel price today 8 April 2021: Fuel prices unchanged; check rates in Mumbai, Delhi, other cities

Petrol and Diesel Price Today in India: Petrol and Diesel rate on April 8 remained unchanged for the ninth consecutive day. Fuel price in Mumbai was the highest.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

India to buy one-third less oil from Saudi Arabia

Indian refiners will buy less oil from Saudi Arabia next month as they snap up supplies outside of the Middle East as part of diversification drive amid weakening domestic fuel demand on the resurgenc

indian state refiners, oil imports from Saudi Arabia, output from OPEC, Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd, cut in oil purchase, iol imports in India

Gold prices down 12% YTD: Time to buy gold? Analysts see MCX gold at Rs 50,000 by year-end

Gold prices edged higher on Tuesday in Indian markets amid positive global cues.

gold, gold price, MCX gold, MCX

Petrol and diesel price today 6 April 2021: Fuel prices unchanged; check rates in Mumbai, Delhi, other cities

Petrol and Diesel Price Today in India: Petrol and Diesel Rate on April 6 remains unchanged, Mumbai has the highest fuel price followed by Pune among metro cities.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

Sugar sales hit due to COVID-19; cooperative mills seek more time to clear unsold quota: NFCSF

The National Federation of Cooperative Sugar Factories (NFCSF) on Monday demanded that the government give more time to clear the unsold sugar quota as sales have been hit due to the pandemic.

Petrol and diesel price today 5 April 2021: Fuel prices unchanged; check rates in Mumbai, Delhi, other cities

Petrol and Diesel Price Today in India: Petrol and diesel rate on April 5 remained the same as yesterday with prices in Mumbai still the highest among metro cities.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

Gold, silver price stay firm on safe-haven buying; rates expected to move sideways this week

Bullion prices witnessed strong recovery from key support levels as ease in US bond yields and dollar decline boosted buying in the safe-haven asset.

Gold price, Silver price

Gas producers continue to bleed as govt-dictated prices remain low, says Icra

Natural gas production remains a loss-making proposition for most fields for the Indian upstream producers as government-dictated gas price remains at its lowest level, rating agency Icra has said.

gas producers

India pitches for easing cuts in crude oil production

At the same time, he said India has noted announcements by OPEC and OPEC Plus to effect a slight easing of crude production cuts.

"Crude supply should be market determined rather than artificially managed," he added.

India asks state refiners to review oil import contracts with Saudi

Amid tensions with Saudi Arabia over oil production cuts, India has asked its state refiners to review contracts they enter into for buying crude oil from the Middle East nation and negotiate more fav

oil

Petrol, diesel prices today 2 April 2021: Fuel rates steady for 3rd day in Mumbai, Delhi, other metro cities

Petrol and Diesel Price Today in India: Petrol and Diesel price on Friday, April 2, 2021, remained unchanged for the third consecutive day.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India

Maharahtra sugar mills seek subsidy to compete with mills in UP

Sugar millers from Maharashtra are planning to approach Prime Minister Narendra Modi and Union minister Nitin Gadkari to seek subsidy of Rs 150 per quintal on domestic sale of sugar so that they are a

sugar production in India

High yarn prices worry hosiery companies

According to Gupta, there is a likelihood of spinning mills increasing prices for April by Rs 10 per kg despite the government urging the industry not to raise prices.

There has been a 50% rise in yarn prices and 30% rise in cotton prices.

Jet fuel price cut by 3 per cent

In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices.

juet fuel prices

Govt keeps domestic natural gas price unchanged at $1.79/mmBtu

The ceiling price for gas to be produced from difficult fields — which have higher pricing and marketing freedom — has, however, been cut by 10.8% to $3.62/mmBtu. The new prices will be effective

In line with the government's target of increasing the share of gas in the economy, liquefied petroleum gas sales were up 4.9% y-o-y to 27.6 MT in FY21.

Govt hikes BG2 cotton seed price by 5%

Meanwhile, the price of BG1 cotton has remained unchanged at Rs 634 for a 450-gm pack.

Cotton yield and production have stagnated due to declining investment in breeding and lack of new technology introduction

LPG cylinder price cut by Rs 10! New 14.2 kg cooking gas cylinder to cost Rs 809 from tomorrow (April 1)

LPG cylinder price cut  2021: After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates

LPG cylinder

After record surge, petrol, diesel and LPG prices to fall

Ahead of the assembly elections in five states including West Bengal, Tamil Nadu and Kerala, fuel prices had become a political issue with the opposition trying to corner the BJP-led government at the

While petrol and diesel prices are revised daily based on a 15-day rolling average of benchmark fuel in the international market, LPG rates are decided on the 1st of every month.

Gold may move up if bond yields fall, inflation in US rises; here’s what charts suggest for MCX gold in FY22

Precious metals, particularly gold, are highly influenced by the incidence and intensity of geopolitical instability

gold
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Advertisement
Advertisement