Page 11 - Commodities

Gold price hits lifetime high of Rs 59,241 amid strong global trends

Spot gold was down 0.6 per cent at $1,976.60 per ounce, as of 6.48 pm India time, while U.S. gold futures rose 0.5 per cent to $1,983.20

Global banking crisis: Low prices to brighten prospects of OMCs

While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024

Brent crude oil slides to below one-year low, gold climbs over 1%

Brent crude fell $3.20, or 4.1 per cent, to $74.25 a barrel after touching $74.01 for its lowest since December 2021

Systemic failure

Instability in prices of perishables must be addressed

Gold prices up Rs 395 per 10 gm amid strong global trends, silver declines

Silver, on the other hand, declined by Rs 115 to Rs 62,095 per kilogram

Extra 1 mn tonnes sugar exports possible if output meets estimate: Govt

India, the world's second largest sugar producing nation after Brazil, has a cushion to export an additional 1 million tonnes of the sweetener if the domestic output reaches an estimated 33.6 million tonnes this year, a senior food ministry official said on Monday. The government will take a call next month on allowing more quantities of sugar exports, after assessing domestic production, he said. Sugar availability is comfortable in the country and as a result wholesale and retail prices of the sweetener are on a decline in the last one month. The food ministry has allowed 6 million tonnes of sugar exports for the current 2022-23 marketing year (October-September). India exported a record 11 million tonnes of sugar in the previous year. "More exports are possible and we have a cushion for exports of additional one million tonnes, suppose the overall production reaches the estimated 33.6 million tonnes this year," the official said. Sugar production has already reached 24.7 milli

Holi sweets to taste even sweeter as atta, maida, sooji rates soften 10-14%

Wheat prices have slumped from their record high of about Rs 3,200 per quintal in mid-January to about Rs 2,200 a quintal

Charts signal likely pullback for Nifty Consumption index: Ravi Nathani

According to the technical analyst, the Nifty Consumption index is likely to witness a pullback, and the support range of 7,036 - 6,980 is likely to provide a base for a technical bounce

Onion prices will stay depressed in markets till mid-March, say experts

Onion prices will stay depressed till the arrival of the long shelf life rabi or winter crop in the markets in mid-March, experts said on Tuesday. There is a supply glut in the market which has led to events like farmers getting a pittance of their input costs for the produce and also angry farmers halting trading at Asia's biggest market place Lasalgaon in Maharashtra, on Monday, they said. Independent farm sector analyst Deepak Chavan told PTI that there are a variety of reasons for the current spate of troubles which has led to panic selling by farmers as the shelf life of the late kharif harvest is too small, and called for government intervention. Chavan said more farmers sowed the 'late kharif' variety rather than the kharif variety this year leading to an increase in acreage and estimated that productivity has gone up by up to 20 per cent leading to the current situation. Prolonged rains delayed sowing and many farmers opted for the 'late kharif' variety. They also saw a ..

'Buy-on-dips' strategy suitable for Nifty MidCap 50, suggests Ravi Nathani

According to the technical analyst, traders must adopt 'buy-on-dips' strategy for Nifty Energy, Nifty Commodities, and Nifty MidCap 50 indices

After wild swing, jeera prices fall 22% on hopes of higher output

Prices jumped 140% till Jan; farmers expect a repeat as heat wave, shift to other crops may keep output down

Mercury to rise 2-4 degrees over next 5-6 days; 35% rain deficit this year

Even in the October-December period, post-monsoon rainfall has been below par

Traders can adopt buy-on-dips strategy for Nifty Energy index: Ravi Nathani

According to the technical analyst, the best trading strategy for short-term and swing traders would be to buy the Nifty Energy index on dips, with the expectation of outperformance in the near future

March heat to shape up wheat output this year in North India: Experts

A significant drop in per hectare yields of wheat for second year this year due to unusually high temperatures could have an impact on Centre's annual wheat procurement plan

Charts suggest Nifty Energy index could bounce back, says Ravi Nathani

According to the technical analyst, in the past four days, the Nifty Energy index appears to be encountering resistance at 22,650, and a violation of this level could signal the start of accumulation

Commodity costs down, expect price drop: GCPL MD & CEO Sudhir Sitapati

Commodity costs have fallen "sharply" in the last few months, the margin situation is now "pretty good" and a revival in sales volume is expected, helped by price drops in some categories such as soap, said Godrej Consumer Products Ltd (GCPL) Managing Director and CEO Sudhir Sitapati. In the last three-four months, a lot of commodities such as palm oil have deflated, he said, adding the inflation which is presently in the market is as a consequence of the high prices that were there six to eight months ago. "So I certainly do not see price hikes in the short to medium term unless the commodity situation goes up. I see, in categories like in soaps and all, price drops," Sitapati told reporters on the sidelines of an event here. Now the hyperinflationary scenario is gone off and the company "definitely expects volumes to revive", he said, adding there would be negative price growth over the next few months, but with better volumes. Sitapati expects consumption to come back and the ..

Vedanta to sell its foreign zinc assets to Hindustan Zinc for $2.98 bn

Hindustan Zinc's Q3 net profit drops 20% on lower output, prices

India considering measures to cool high wheat prices: Govt official

India has been considering measures to cool domestic wheat prices, which jumped to a record high this week as supplies dwindled, Food Secretary Sanjeev Chopra said on Thursday

Profit-booking takes some sheen off gold; commodity hits all-time high

The yellow metal had closed at Rs 56,195 per 10 gram in the previous trade. Silver also plummeted Rs 1,475 to Rs 69,286 per kilogram

10 of 13 key commodities dip in Samvat 2078 after hitting multi-year peak

The basket of ferrous and non-ferrous metals, too, saw sharp swings in Samvat 2078