Lockdown impact: Domestic sugar consumption to fall by at least one million tonne says Icra

Going forward, Icra expects that with the decline in crude prices, Brazil is likely to divert more cane towards sugar production which could exert pressure on global sugar prices.

Commodities News

Lockdown effect: Gold demand on Akshay Tritiya likely to plunge 95%

Industry body for jewellers said that sales would only be 5 per cent compared to last year's Akshaya Tritiya, although Kalyan Jewellers is more optimistic and expected sales to be 10 per cent of the n

gold demand, demand for gold in india, world gold council, WGC, jewellery, gold investment, gold imports News

Ramadan glut, crude oil slump drag basmati paddy futures down 6%

Pusa 1121 paddy spot price has dropped from Rs 30 per kg to Rs 28 per kg. Traders feel it might hover in the Rs 23-25 per kg price band in coming days.

Commodities News

Unseasonal rains hit mango production in Andhra Pradesh

Mango is a major crop in West Krishna and Nuzividu regions grown in about 50,000 hectare.

Commodities News

Maharashtra’s onion supplier database to act as alternate marketing channel for farmers

Thanks to the database that has also been uploaded on the board’s website, state government authorities or traders could directly get in touch with the onion suppliers, he said.

The database is for providing a direct purchase access to traders of other states as an alternative channel in case arrivals at APMCs dries up. News

How will Indians buy gold this Akshaya Tritiya as lockdown forces people to stay indoors

Purchases of valuables including bullion on Akshaya Tritiya, which falls on April 26 this year, is considered to bring luck and prosperity by the nation’s majority Hindu population.

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Large number of retail investors open to buying gold: WGC

In total, almost one third of Indian investors who have not bought gold before are open to doing so in future.

world gold council, gold, Indian retail investors, india investment gold, indians gold investment News

Centre directs Nafed to commence onion procurement for buffer stock

Meetings are still in progress at Nafed regarding the price since this is a very unique situation.

coronavirus, coronavirus impact on onion procurement, national agricultural co-operative marketing federation of India (Nafed), onion stocks in India, Maharashtra onion, Gujarat onion, Madhya Pradesh onion News

Gold prices near lifetime high ahead of Akshaya Tritiya. Is it a good time to buy yellow metal?

Gold prices have jumped nearly 18 per cent from its recent low of Rs 38,400 per 10 grams hit on March 16, 2020. While silver futures have surged 20 per cent from its recent low of Rs 33,580 per kg

Commodities News

Gold prices stay above Rs 46,000 level as spike in coronavirus cases continue to worry investors

On MCX, gold June futures were trading at Rs 46,372 per 10 grams, up Rs 205 or 0.44 per cent. While silver May futures added 1.40 per cent or Rs 584 to Rs 42,270 per kg

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Wheat production set to surpass rice output for first time

According to the second advance estimates for crop year 2019-20 (July-June), the rice output is seen at 117.47 million tonne and wheat at 106.21 million tonne.

Commodities News

Sharp decline in arrivals in agri wholesale markets, says report

Prices of fruits in the wholesale markets have declined due to lower exports of seasonal crops such as mango and grapes and limited domestic offtake amid the lockdown.

If the lockdown proves to be a three-month affair, the farmers’ losses could swell to Rs 50,000 crore, if not more. News

Why petrol, diesel prices are not falling despite crude oil prices crashing below zero | EXPLAINED

In a petrol price of Rs 69.59 per litre, the base price is only Rs 27.96 and the rest are the domestic charges.

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Logistic constraints: Few takers among retail biggies for direct purchase from farmers

Except Madhya Pradesh, no other state has so far acted upon the Centre’s advisory, leaving farmers, the intended beneficiaries of the move, high and dry.

The idea behind the Centre’s move was to unshackle the farmer community hit hard by the current lockdown from the fetters of the APMCs that control mandis. News

CCI resumes cotton procurement; 25k quintal procured in 10 days

CCI chairperson and managing director P Alli Rani said that the quantum of procurement has not been much due to the lockdown period and fear of coronavirus infection among farmers.

CCI is the government’s nodal agency for purchases under the minimum support price scheme. News

WTI crude oil prices still below zero; could Brent crude used by India fall next?

It was an unusual beginning of the day, with markets and investors waking up to the news that crude oil prices have tanked so far south that the West Texas Intermediate (WTI) crude slipped below zero

Commodities News

Gold prices rise today as weak oil prices increase bullion’s safe-haven appeal, silver rates slump

Sentiments will be positive for gold since investment demand has been supporting the prices. old June futures were trading Rs 177 or 0.39 per cent higher at Rs 45,891 per 10 grams.

Commodities News

A barrel of crude oil cheaper than a bottle of coke, but, India has nothing to cheer

The coronavirus pandemic has acted as a catalyst for jaw-dropping movements in global financial markets, however, nothing can be compared with the mammoth fall in the WTI crude oil price on Monday.

Commodities News

EXPLAINED: Crude oil price’s monster meltdown in three charts

With crude oil breaking down barrier after barrier on Monday -- below $10 a barrel, below zero and deep into the land of negative -- a measure of oil volatility skyrocketed to more than 400%.

Commodities News

Crude oil price fell below ZERO for first time; why companies were willing to pay money to sell oil

In New York, West Texas Intermediate for May delivery dropped as low as negative $40.32 a barrel. It’s far below the lowest level previous seen in continuation monthly data charts since 1946.

Commodities News

WTI oil slumps to lowest since 1986 at USD 10.34 a barrel

The fall is severe as it concerns the May contract due to expire later Monday and investors don't want to take physical possession of the oil. 

Commodities News

Oil prices collapse on storage fears, Asian equities mixed

US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below $15 -- its lowest since 1999 -- as stockpiles continue to build owing to a crash in demand caused by the COVID-19

Commodities News

Gold prices fall over Rs 1,200 per 10 grams in less than a week as yellow metal sees profit booking

Globally, gold prices fell to a more than one-week low on Monday, as US President Donald Trump planned to reopen the world’s largest economy battered by the coronavirus

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PM-Aasha scheme: ‘Only fixed number of farmers availing procurement of pulses, oilseeds’

In Rajasthan, a maximum of 10 farmers per day are called to each procurement centre and accordingly information is sent to farmers, the agriculture ministry said in a statement.

Commodities News

Rabi crops: Govt procures 1.34 lakh tonnes of pulses, 30,000 tonne oilseeds in ongoing marketing season so far

The procurement of rabi pulses and oilseeds from farmers under the PSS scheme is currently in progress in Karnataka, Andhra Pradesh, Telangana, Rajasthan, Maharashtra, Uttar Pradesh and Haryana.

Commodities News

No cut in petrol, diesel prices for over a month; fuel sales slump up to 94% in April

Along with the factories and offices, all the flights, trains, cargo movement have been stopped as the citizens of India were asked to stay home to help contain the spread of deadly coronavirus.

Commodities News

Fuel sales slump 50% in April; petrol down 64%, diesel 61%, ATF 94%

Aviation turbine fuel (ATF) consumption collapsed by 94 per cent as most airlines have stopped flying.

petrol, diesel, fuel demand, oil consumption, lockdiwn, coronavirus News
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