Massive fall in sugar output next year, but worry not, prices won’t shoot up

During the sugar season October 2019-September 2020, India will produce 28.2 million tonnes of sugar, a drop of 14.4% on-year.

sugar, sugar industry News

Petrol price hiked by Rs 2.45, diesel by Rs 2.36 following tax hike in Budget

Petrol price in Delhi was increased by Rs 2.45 per litre to Rs 72.96 while the increase in Mumbai was Rs 2.42 to Rs 78.57, according to a price notification issued by state-owned Indian Oil Corp (IOC)

Petrol price hike, Petrol price hike rate, Nirmala Sitharaman,  diesel price, BPCL, HPCL, VAT News

Budget 2019: Hike in gold import duty to force businesses to shift to neighbouring countries: GJEPC

Budget 2019: According to industry experts, the decision could lead to increase in smuggling of the yellow metal in the country.

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Bulk tea producers to feel tepid price pressure: Icra

Icra stated drop in CTC prices is evident more in the good category tea, while the prices of medium or low category of teas have improved, albeit marginally

Commodities News

Oil prices edge down, pressured by U.S. supply

Oil prices inched lower on Thursday after solid gains the day before, pressured by data showing a smaller-than-expected decline in U.S. crude stockpiles.

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Ginger goes ‘north’ over shortage in supply

Aiyaz said the global market also supported a firmer market, with market in China seen higher by 40 % due to more rainfall and poor quality of ginger.

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CNG price in Delhi hiked by 90 paise, 7th increase since April 2018

"The price of CNG being supplied by IGL in Gurugram and Rewari would be Rs 58.45 per kg and in Karnal, it would be Rs 55.45 per kg," IGL said in a statement.

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Gold discounts to charm consumers after prices hit all-time high

Tepid demand for gold is weighing on the yellow metal prices as the retailers are selling gold at a discount after the gold prices hit an all-time high last week.

Gold futures dropped 1.7% on the Comex in New York, the biggest decline in over a year, to settle at $1,389.30 at 1:32 p.m. (File photo) News

End of days for fossil fuel? BP says some of its oil won’t be used

Some of the “more complicated to extract” resources in the British oil major’s portfolio may have to be sold or stay in the ground, said Dominic Emery, the company’s group head of strategy.

The oil major said in an investor presentation last year it has 25 billion barrels of resources, 40% of which has been “booked and proved.” (Reuters photo) News

Gold hits 1-week peak; global trade woes, lower US yields support

India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday.

U.S. gold futures were up 2.1% at $1,437.7 an ounce. (File photo) News

Gold sinks most in a year as trade truce deals blow to bulls

Bullion hit a six-year high last week as top central banks including the U.S. Federal Reserve adopted a more dovish tone and tensions spiked between the U.S. and Iran.

Gold futures dropped 1.7% on the Comex in New York, the biggest decline in over a year, to settle at $1,389.30 at 1:32 p.m. (File photo) News

ONGC discovers 230 million tonnes of oil reserves: Dharmendra Pradhan

The money spent on crude oil imports was highest since 2013-14 when the import bill was Rs 8.64 lakh crore, he said.

Commodities News

Iran oil minister Bijan Zanganeh calls for unity among OPEC members

OPEC and its allies look set to extend oil supply cuts at least until the end of 2019 as Iraq joined top producers Saudi Arabia and Russia on Sunday in endorsing a policy aimed at propping up the pric

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Oil jumps on Saudi, Russia support for supply cuts

Front-month Brent crude futures for September touched an intraday high of $66.14 a barrel and were up $1.12, or 1.7%, at $65.86 a barrel by 1252 GMT.

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Gold sinks most in a year as US-China trade truce deals blow to bulls

Prices fell after Donald Trump and Xi Jinping’s meeting over the weekend, at which the leaders of the two largest economies agreed to resume negotiations.

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Good news! Non-subsidised LPG price reduced by over Rs 100 per cylinder

The cooking gas in Delhi will be priced at Rs 637 per cylinder from midnight tonight as against Rs 737.50 currently, IOC said in a statement.

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Maharashtra sugar millers visit Tamil Nadu to check out drought-tolerant varieties of sugarcane

The sugar sector in Maharashtra has already been under fire since the state has been in the grip of a major drought and cane is considered a water guzzler.

sugar, sugarcane plantation News

ONGC seeks partners to raise output from 64 small fields

State-owned Oil and Natural Gas Corp (ONGC) Friday invited proposals from firms willing to partner with it in raising oil and gas production from its 64 marginal fields.

Commodities News

Tea exports likely to increase despite global trade tensions

India is the world’s second-largest producer of tea and accounts for 23-26% of the global tea production.

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Gold steady as investors await US-China trade talks

Spot gold was mostly unchanged at $1,408.92 per ounce as of 0107 GMT.

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Oil prices fall as market awaits G20 summit, OPEC

Oil prices rose more than 2% on Wednesday and hit their highest in about a month, buoyed by U.S. government data showing a larger-than-expected drawdown in crude stocks as exports hit a record high an

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Around 20-25 lakh hectares likely to come under HT Bt cotton cultivation

Government data reveals that 15% of the crop in the last season was HT Bt variety.

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Maharashtra farmer producer companies form federation for seed sale and production

Farmer Producer Companies (FPCs) in Maharashtra have decided to come together under a common umbrella to loosely form a federation to exclusively deal in sale of seeds from this kharif. The federation

agriculture sector, agriculture industry News

Will gold prices rally last? This is what may break Gold’s winning streak

The US-China trade conflict, geopolitical tensions in the Middle East, uncertainty around Brexit along with global growth concerns have been supporting the gold prices of late.

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Petrol, Diesel prices remain unchanged for the second consecutive day; Check prices in Delhi

State-run oil marketing companies keep the petrol and diesel prices unchanged for the second consecutive day on Wednesday across major cities in India.

Commodities News

Gold off six-year peak as dollar rises after Fed comments

Spot gold was down 0.6% at $1,415.01 per ounce as of 0122 GMT, after hitting its highest since May, 2013 at $1,438.63 in the previous session.

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Oil prices climb amid fall in US stockpiles, Middle East worries

Analysts said the moves were mainly driven by American Petroleum Institute (API) data showing a fall in U.S. crude inventories.

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