FE Commodities

Diesel price in Delhi crosses Rs 82/litre for the first time ever

Diesel was sold at Rs 82.06/litre on Monday, surpassing the previous all-time high rate of Rs 81.73/litre discovered last Friday. Petrol prices in the national capital also reached its record high on Monday, priced at Rs 91.53/litre.
The marketing margin of around Rs 3 per litre for diesel in Q4FY21 is the lowest encountered by OMCs in the last nine quarters.

Covid, price rise impact: Indian gold demand hits 26-year low in 2020, says WGC

Demand plunged 35% in 2020 from a year before to 446.4 tonne, the lowest since 1994 and worse than a 28% decline globally, the WGC said. A Covid-induced lockdown hit not just demand but even supply in

Of course, in value term, the demand dropped at a much slower rate of 14% in 2020 to `1.88 lakh crore, as domestic gold prices hit record levels.

Onion export yet to pick up pace despite lifting of ban

India exported onions valued at $198 million in the April-June period of FY21 and $440 million through 2019-20. The country had exported around 10 lakh tonne in 2019-20. Bangladesh, Malaysia, the UAE

Shah had earlier said India can export some 20 lakh tonne this season after the arrival of the new crop.

Cotton arrivals gather pace on lockdown fears; CCI so far procures 67 lakh bales

“The pace of arrivals is very fast, maybe because of Covid fears, with Europe and the UK getting into another lockdown. Farmers fear that prices may not rise further,” PK Agrawal, CMD at CCI, said

In Maharashtra, the crop has been hit by pink bollworm, while heavy unseasonal rains affected the crop in Saurashtra as well as Telangana, Agrawal explained.

Cotton procurement hits Rs 14,654 cr in about two months

The government is also firming up a Rs 10,000-crore production linked incentive (PLI) scheme for man-made textiles. "The government will shortly announce a textile policy, a policy to be made after tw

In Maharashtra, the crop has been hit by pink bollworm, while heavy unseasonal rains affected the crop in Saurashtra as well as Telangana, Agrawal explained.

Steel price hike: Gadkari fumes, writes to PM Modi

“At a time when we are trying to create so much infrastructure, this kind of policy approach from their (cement and steel companies) side would not do any good for them in the long-term. This is als

In a recent report, ICICI Securities said cement’s industry average operating margin grew 25% Y-o-Y in FY’20 and further rose 20% Y-o-Y to over Rs 1,250/tonne in the first half of the current fiscal.

Calcutta High Court stands by JC’s move to ease supplies and check raw jute prices

The HC said that the application to the JC “shall contain the name of each of its (The Jute Balers Association) members and the quantum of raw jute stock held by each of the members.”

Steel prices hiked for the second time in a week

A second hike during the month, on the back of buoyant domestic demand, was largely anticipated since the domestic HRC prices, even after the first hike in December, were at a 6% discount to import pa

Assam wants tea to go directly from gardens to globe, banks on six airports for agri exports

Assam chief minister Sarbananda Sonowal said the state having six airports, the highest in the country, was trying to take advantage of the cross-border markets, which could make it an export hub of a

India is the second largest tea producing country of the world and the crop is grown in states like Assam, West Bengal, Kerala among others.(Representative image)

Poor Demand: Sugar prices in Maharashtra fall below MSP of Rs 3,100 per quintal

Sugar mills in the state owe farmers Rs 351.54 crore in fair and remunerative price arrears in the first month of crushing operations.

sugar, msp, Mukesh Kuvediya, secretary general, Bombay Sugar Merchants Association, sugar prices in maharashtra, sugar msp, poor demand of sugar

Non-basmati rice export to Bangladesh may result in higher paddy prices

Bangladesh has issued tenders for importing non-basmati rice, which is likely to bail out West Bengal from an abundant situation.

non-basmati rice export, exports to bangladesh, rabi season, rabi crops, MSP of rice, indian rice export, paddy prices

Cotton Corp procures 1.04 crore bales, a global record

The Cotton Association of India has pegged 2019-20 crop at 354.5 lakh bales, compared with 312 lakh bales last year.

Bombay High Court asks cotton farmers to file their grievances on purchase lapses by govt

The bench ordered the government to place on record the procedure adopted by the authorities for purchasing cotton from farmers, complaints received from farmers, funds made available for purchasing c

Free inter-state trade of agricultural products: Maharashtra APMCs see loss of 30-40% income

The APMC and the new systems are expected to run in parallel offering the farmer a choice. Officials said that a price discovery mechanism through open auctions help farmers get a better choice while

UP slips on its wheat purchase target, barely crosses 50%

Explaining the dip in procurement, the official said that since direct marketing was allowed and big purchasers were available, farmers had a better choice to sell their produce during the lockdown.

msp, wheat procurement, minimum support price, farmers earn more

Imports of edible oil in May lowest since 2011

The decline of import in April and May is mainly due to the shutdown and disruption in demand from hotels, restaurants, canteens and public functions, according to SEA.

India’s steel demand may slump by 18 per cent this year

India has implemented the most stringent nationwide lockdown measures in the world, bringing industrial operations to a standstill.

Maharashtra govt’s scheme to deal with excess milk yet to take off

Many dairies fear their business will be hit if the government does not pay them soon, he said. There are about 25 dairies in Maharashtra that are converting their excess milk stock into milk powder.

Sugar mills’ working capital requirements to go up: Icra

The domestic sugar mills have contracted close to 4.2 million tonne for exports during 7M SY2020 (until April 2020). Icra expects the exports to be around 5 million tonne given the demand from Indones

Rabi wheat purchases likely to miss record due to delayed start of purchase, lower arrivals

Contrary to expectations, wheat procurement in the ongoing season may not exceed the record of 38.15 million tonne (MT) achieved during the corresponding season in 2012-13 season due to a delayed star

Millers advised to divert excess cane/sugar to produce ethanol

The move comes in the wake of the surplus production and excess availability of sugar, which has been continuously depressing ex-mill prices.

The Centre has advised sugar millers to divert excess sugarcane or sugar to produce fuel-grade ethanol.

NHAI defers plan to generate funds by leasing off its assets

The National Highways Authority of India (NHAI) has put its plan to monetise operational publicly-funded highway projects on hold for two months, given that investors might not commit long-term invest

The total debt of the National Highways Authority of India (NHAI) went up by nearly 9.5 times to Rs 2,28,252 crore in February this year, from Rs 24,188 crore as on March 31, 2015.

Half of wheat purchase target met despite delayed start

The Food Corporation of India (FCI) has been able to buy half of its wheat procurement target of 40.7 million tonne by Wednesday despite a delayed start this year as Punjab has exceeded expectation by

While the government has fixed the wheat MSP at Rs 1,925/quintal, traders were buying the grain at about Rs 1,700-1,800/quintal in Gujarat and Rajasthan before the start of the official procurement.

Indian cotton prices under pressure due to lockdown and fears of drop in consumption: CAI

Indian cotton prices have come down by 12-15% due to the ongoing lockdown and fears that the country’s cotton consumption will reduce, resulting in more carry-forward stocks by September 2020, offic

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