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commodities

Louis Dreyfus relaunches edible oil brand 'Vibhor' for North India market

Global agricultural merchant Louis Dreyfus Company on Wednesday announced the relaunch of its edible oil brand 'Vibhor' in North India's business-to-consumer segment. With this, the company aims to capitalise on India's growing edible oil market. The refreshed product line includes soybean, palmolein, cotton seed, and mustard oils, as well as premium vanaspati, all enriched with vitamins A and D, Louis Dreyfus Company (LDC) Country CEO for India Sumeet Mittal said at a press conference. "This re-launch supports our strategy to move further downstream in the value chain and diversify our offering with value-added products," Mittal said. LDC, which has been operating in India since 1997, will initially focus on expanding its distribution network in North Indian states, including Punjab, Haryana, Delhi, and Uttar Pradesh, citing logistics convenience from its Kandla processing unit in Gujarat. The company's Kandla facility has an annual edible oil processing capacity of 3,50,000 tonn

Louis Dreyfus relaunches edible oil brand 'Vibhor' for North India market
Updated On : 10 Jul 2024 | 5:48 PM IST

Paddy sowing up 19% so far this year, acreage of Arhar, Urad up sharply

Area sown to paddy has increased by 19.35 per cent to 59.99 lakh hectare so far in the ongoing 2024-25 kharif (summer) season, the agriculture ministry said on Monday. In the year-ago period, area under paddy was 50.26 lakh hectare. Sowing of paddy, the main kharif crop, begins with the onset of southwest monsoon from June, and harvesting takes place from September. Additionally, area sown to pulses also increased to 36.81 lakh hectare till July 8 of the ongoing season, from 23.78 lakh hectare in the same period last year, the ministry said in a statement. There was a significant rise in coverage of 'arhar', to 20.82 lakh hectare from 4.09 lakh hectare. Area sown to 'urad' was 5.37 lakh hectare as against 3.67 lakh hectare. However, area under coarse cereals and 'Shree Anna' (millets) decreased to 58.48 lakh hectare from 82.08 lakh hectare in the year-ago period. Among coarse cereals, area under maize rose to 41.09 lakh hectare from 30.22 lakh hectare. Area sown to oilseeds inc

Paddy sowing up 19% so far this year, acreage of Arhar, Urad up sharply
Updated On : 08 Jul 2024 | 9:15 PM IST

Oil dips in Asian markets, copper slides to 8-week low on China data

Copper fell as much 1.1 per cent to $9,631 a ton on the London Metal Exchange, heading for its lowest close in two months

Oil dips in Asian markets, copper slides to 8-week low on China data
Updated On : 17 Jun 2024 | 11:32 PM IST

Crude oil pares weekly loss as Opec+ says it can cancel supply hike

Brent crude futures were trading near $80 a barrel, rebounding from the four-month low struck on Monday after Saudi Arabia and its partners outlined planes to gradually resume production

Crude oil pares weekly loss as Opec+ says it can cancel supply hike
Updated On : 07 Jun 2024 | 5:24 PM IST

World food prices surge for third consecutive month in May, says UN

The FAO index hit a three-year low in February as food prices continued to ease off from a record peak set in March 2022, following Russia's invasion of fellow crop export major Ukraine

World food prices surge for third consecutive month in May, says UN
Updated On : 07 Jun 2024 | 3:54 PM IST

Zinc demand in India likely to double in next 5-10 years: Industry body

The demand of zinc is expected to double in India in the next five to 10 years on the back of huge investments in infrastructure sector, including steel, International Zinc Association said on Sunday. The demand for zinc in India depends largely on the growth of the steel market as zinc is mainly used to galvanise steel to protect it from corrosion. "I see a doubling of the demand (for zinc) in the next five to 10 years. The market for primary and refined zinc in India is currently close to 800 to 1,000 tonnes (per annum) and has a great opportunity to increase with all the developments that we are witnessing in India. We see huge investments in additional steel capacity and ...steel still needs to be protected by galvanized coatings. We see a lot of plans and investments going on for new galvanizing lines. So I expect a strong role for zinc in India," International Zinc Association Global Director Martin Van Leeuwen told PTI in an interaction. The current demand for zinc in India

Zinc demand in India likely to double in next 5-10 years: Industry body
Updated On : 19 May 2024 | 4:38 PM IST

19 major commodities see export volume growth, but value declines

These commodities constitute over a fourth of the export value for April-February, commerce department data showed

19 major commodities see export volume growth, but value declines
Updated On : 02 May 2024 | 12:00 AM IST

Vedanta best-placed to ride rising commodity prices, say analysts

Mining conglomerate Vedanta Ltd is likely to see less pressure on cash flows after liability management at the holding company level and is now best placed to ride rising commodity prices, analysts said. Improved performance in aluminium, power and zinc enabled the company to turn in EBITDA of Rs 87,600 crore in the January-March quarter, up by 4 per cent quarter-on-quarter. The improved performance was attributable to lower cost of production in aluminium and zinc and higher sales volume, partially offset by softer zinc prices. Despite marginal delays, Vedanta is set to complete its alumina/aluminium/ international zinc expansion during the current fiscal year (FY25), which will provide visibility around volume growth and cost reduction FY26 onwards. The start of coal mines in FY26 shall further lower its aluminium cost of production. In a post earnings note, Nuvama Institutional Equities said management is moving ahead to demerge the businesses by end of current fiscal (April 2024

Vedanta best-placed to ride rising commodity prices, say analysts
Updated On : 28 Apr 2024 | 3:46 PM IST

Oil up on geopolitical tensions, gains curbed by fading Fed rate cut hopes

Brent crude futures were up 7 cents, or 0.08%, to $89.08 a barrel at 1109 ET (1509 GMT). U.S. West Texas Intermediate crude futures were up 6 cents, or 0.07%, to $83.63 a barrel

Oil up on geopolitical tensions, gains curbed by fading Fed rate cut hopes
Updated On : 26 Apr 2024 | 10:13 PM IST

China is front and center of gold's record-breaking rally this year

China and India have typically vied over the title of world's biggest buyer. But that shifted last year as Chinese consumption of jewelry, bars and coins swelled to record levels

China is front and center of gold's record-breaking rally this year
Updated On : 21 Apr 2024 | 11:20 PM IST

Global regulators want to better prepare funds, investors for margin calls

Regulators spent more than a decade after the 2008 credit crunch shoring up lenders' financial strength, yet a series of shocks outside the banking sector have since put a spotlight on other risks

Global regulators want to better prepare funds, investors for margin calls
Updated On : 17 Apr 2024 | 5:30 PM IST

Russia, China trade new copper disguised as scrap to skirt taxes, sanctions

Copper wire rod was shredded in China's remote Xinjiang Uyghur region by an intermediary to make it difficult to distinguish from scrap

Russia, China trade new copper disguised as scrap to skirt taxes, sanctions
Updated On : 15 Apr 2024 | 10:23 PM IST

Gold touches new peak of Rs 69,200 per 10 grams amid global market rally

Gold prices jumped by Rs 830 to reach a new peak of Rs 69,200 per 10 grams on Wednesday amid a rally in precious metal rates in the global markets, according to HDFC Securities. This is the second time that yellow metal prices have hit an all-time high in this week. In the previous trade, the precious metal had closed at Rs 68,370 per 10 grams. Silver prices also surged by Rs 1,700 to Rs 80,700 per kg. It had finished at Rs 79,000 per kg in the previous close. "Spot gold prices (24 carats) in the Delhi markets are trading at Rs 69,200 per 10 grams, up by Rs 830, taking a bullish trend in the overseas markets," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. In the international markets, spot gold at COMEX was trading at USD 2,275 per ounce, up by USD 20 from the previous close. "Gold up at yet another all-time high with prices breaching past USD 2,300 per ounce in early trade, while futures on MCX rose close to all-time around Rs 69,500, as demand for safe-h

Gold touches new peak of Rs 69,200 per 10 grams amid global market rally
Updated On : 04 Apr 2024 | 1:05 AM IST

Govt proposes national iron ore exchange to tackle price anomalies: Report

The proposed exchange would record real-time transactions and physical delivery of iron ore, the document said

Govt proposes national iron ore exchange to tackle price anomalies: Report
Updated On : 02 Apr 2024 | 5:12 PM IST

India's March gold imports likely to plunge more than 90% as prices surge

Lower imports by India, the world's second biggest consumer of the precious metal, could limit a rally in global prices that hit a record high earlier this month

India's March gold imports likely to plunge more than 90% as prices surge
Updated On : 27 Mar 2024 | 5:46 PM IST

Wheat inventories hit 7-year low at 9.7 MT after record state sale

Wheat reserves in state stores totalled 9.7 million tons at the start of this month, down from 11.7 million tons in March 2022, the state-run Food Corporation of India said

Wheat inventories hit 7-year low at 9.7 MT after record state sale
Updated On : 12 Mar 2024 | 4:48 PM IST

Parboiled rice exports slow on confusion over duty calculations: Dealers

The 20% duty slowed India's parboiled rice exports, but still traders ship around 500,000 metric tons per month as prices jumped in competing countries such as Thailand, Vietnam, Pakistan, and Myanmar

Parboiled rice exports slow on confusion over duty calculations: Dealers
Updated On : 06 Mar 2024 | 6:04 PM IST

Sugar output declines by 1.19% to 25.53 MT so far this marketing year: ISMA

The country's sugar production declined 1.19 per cent to 25.53 million tonne so far in the ongoing 2023-24 marketing year, industry body ISMA said on Monday. Sugar production stood at 25.84 MT till February in the year-ago period. Sugar marketing year runs from October to September. In its second estimate, the Indian Sugar Mills Association (ISMA) has projected sugar output to decline by 10 per cent to 33.05 MT in the current 2023-24 marketing year as against 36.62 MT in the previous year. According to ISMA, sugar production in Maharashtra, Karnataka, Gujarat, and Tamil Nadu remained lower till February of the ongoing marketing year. However, sugar output in Uttar Pradesh -- the country's second largest producer of the sweetener -- was higher at 7.81 MT as against 7 MT in the period under review. The production in Maharashtra -- the country's largest producer of sugar -- was down at 9.09 MT till February of this marketing year, compared with 9.51 MT in the year-ago period. Simil

Sugar output declines by 1.19% to 25.53 MT so far this marketing year: ISMA
Updated On : 04 Mar 2024 | 3:22 PM IST

5,000 Farmer Producer Organizations onboarded on ONDC Portal, says Govt

The government on Friday said almost 5,000 out of 8,000 registered Farmer Producer Organizations (FPOs) have been onboarded on the Open Network for Digital Commerce (ONDC) portal for selling the produce online to consumers across the country. Around 8,000 FPOs have been registered against the government's target of 10,000 under a central scheme launched in 2020 with a budgetary provision of Rs 6,865 crore. FPOs facilitate farmers with access to improved technology, credit, better input and more markets to incentivise them to produce better quality commodities. "Almost 5,000 out of 8,000 registered FPOs have been registered on the ONDC portal...," the agriculture ministry said in a statement. The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Central government's objective of providing growers with better market access, it said. The move aims to empower FPOs with direct access to digital marketing, online payment, ...

5,000 Farmer Producer Organizations onboarded on ONDC Portal, says Govt
Updated On : 01 Mar 2024 | 7:26 PM IST

Crude oil falls 1% as Fed caution, stocks build offset Opec+ expectations

Brent crude futures fell 90 cents, or 1.08%, to $82.75 a barrel by 0902 GMT. U.S. West Texas Intermediate futures (WTI) were down 92 cents, or 1.17%, at $77.95

Crude oil falls 1% as Fed caution, stocks build offset Opec+ expectations
Updated On : 28 Feb 2024 | 4:53 PM IST