Page 3 - Commodities

Crude oil falls as traders consider potential jump in US crude stockpiles

Brent crude futures fell 64 cents, or around 1%, to $65.99 a barrel by 0934 GMT. U.S. West Texas Intermediate (WTI) crude slipped 64 cents, or 1%, to $63.03

Crude oil prices drop as OPEC+ accelerates output hikes, surplus looms

Brent crude futures dropped by 87 cents, or 1.42%, to $60.42 a barrel by 0946 GMT, while U.S. West Texas Intermediate crude was at $57.37 a barrel, down 92 cents, or 1.58%

FMCG firms may register low single-digit revenue growth in FY25: Report

FMCG firms are expected to register a 5 per cent rise in revenue with almost flat margin growth in the fourth quarter of fiscal 2024-25, according to a report from banking firm BNP Paribas India. The report also lowered the earnings estimates for FY26 for the companies under its coverage, except for Godrej Consumer Products and Emami. However, it sees a "favourable base" in FY26 for the FMCG sector, helped by some near-term positives like the drop in crude price and positive trends for rural growth. "We expect our FMCG coverage revenue growth to inch up slightly from 4 per cent in 3QFY25 to 5 per cent in 4QFY25, led by Marico, which should see strong revenue growth helped by commodity inflation, and recovery in growth for GCPL, led by its home care division," BNP Paribas said in its India Consumer Report April 2025. The inflationary pressure on most commodities continues to be high in Q4, hurting the margins of the companies, though prices for palm oil and tea have eased quarter o

India's export of key items sees double-digit contraction, says report

Data released by the commerce department on Monday showed that outbound shipments from India shrank at the sharpest pace in 20 months-by 10.9 per cent on-year--to $36.91 billion in Feb

Sugar output falls 16%; cooperative body flags production ambiguity

India's sugar production has declined by 16.13 per cent to 23.71 million tonnes so far in the ongoing 2024-25 season, creating challenges for government policies which were formulated based on higher initial projections, cooperative body NFCSF said on Sunday. The National Federation of Cooperative Sugar Factories (NFCSF) expressed concern over the "ambiguity" in sugar production numbers as the 2024-25 sugarcane crushing season (October-September) nears its end with significantly lower output than initially projected. Sugar production estimates have been repeatedly revised downward since the season began, creating challenges for government policies which were formulated based on an initial projection of 33.3 million tonnes, the industry body said in a statement. "One section of the industry submitted an estimate of 33.3 million tonnes of sugar production to the central government. Based on that, the central government started formulating its policies," NFCSF said. The central ...

Gold pops above $3,000 per oz for first time in historic safe-haven rally

Spot gold rose 0.1% to $2,991.00 an ounce at 9:42 am ET (1342 GMT) after hitting an all-time high of $3,004.86

Task before new boards: Boosting India's global standing in key commodities

The Indian turmeric industry, however, needs to brace itself up to capitalise on the emerging opportunities in the world bazaar in the face of escalating competition from several new players

New season supplies keep India, Vietnam rice prices at multi-month lows

India's 5% broken parboiled variety was quoted at $416-$425 per metric ton this week, down from last week's $418-$428

Silver to trade within range of $31 to $32.25: Mirae Asset Sharekhan

The metal peaked at $32.25 in the Asian session and slumped to $31.25 in the US session before recovering sharply in the wake of the Fed Chair Powell's speech

Soy, groundnut purchase deadline extended as prices remain below MSP

Extends deadline for soybean, groundnut procurement as prices stay below MSP

Prices of rice exported from India steady at 18-month low on muted demand

India's 5% broken parboiled variety was quoted at $429-$435 per metric ton this week, unchanged from last week. Indian 5% broken white rice was quoted at $432 to $440 per ton this week

Centre slashes FCI rice price by Rs 550 per quintal to Rs 2,250 for states

The Centre on Friday reduced the reserve price of FCI rice under the Open Market Sale Scheme (OMSS) by Rs 550 per quintal to Rs 2,250 for states and ethanol producers to boost sales and support food security measures. According to a Food Ministry order, state governments and state-run corporations can purchase up to 12 lakh tonnes, while ethanol distilleries are allowed to buy up to 24 lakh tonnes at a reduced rate. The previous reserve price was Rs 2,800 per quintal for both categories. The Food Corporation of India (FCI), which manages rice stocks through weekly e-auctions, will implement the revised policy until June 30, 2025. Private traders and cooperatives will continue to pay Rs 2,800 per quintal, while central cooperatives like Nafed, NCCF and Kendriya Bhandar selling under the 'Bharat' brand will pay Rs 2,400 per quintal. The ministry has mandated that the third cycle tender for about 110 crore litres of ethanol during 2024-25 should use FCI rice, with preference given to

Colombo Stock Exchange to get NCDEX help in commodity derivatives trading

The agreement will enable knowledge transfer between the two exchanges where they will share expertise in product designing and development, trading systems and regulatory framework, sources said

India's rice stocks hit record high, wheat reserves continue to deplete

India's rice exports have gained momentum after New Delhi removed most curbs in September and October

Import stats for gold, silver, electronics lowered for April-November

The government has also revised the electronics import value for this period downward by $2.7 billion to $61.2 billion

Sharekhan suggests strategy to trade crude oil ahead of Opec meet on Dec 5

The meeting was originally scheduled for December 1, 2024. A handful of Opec members are set to gradually bring 2.2m b/d of supply back onto the market next year

Govt to sell 2.5 MT of FCI wheat under OMSS till Mar 2025 to check prices

The government on Thursday announced the sale of 25 lakh tonne of FCI wheat till March 2025 to bulk domestic consumers to check the "inflationary trend in the food economy". Wheat will be sold under the government's Open Market Sale Scheme (OMSS) initiative, managed by the state-owned Food Corporation of India (FCI) to regulate the supply and prices. The nodal Food Ministry, in a statement, said a reserve price for wheat under OMSS is fixed at Rs 2,325 per quintal for fair and average quality (FAQ) grain and Rs 2,300 per quintal for URS (Under Reduced Specifications) grain. Wheat will be sold until March 31, 2025, through e-auction to private parties, including flour mills, manufacturers of wheat products, processors and end users. However, the government did not reveal the date of commencement of the FCI wheat sale to bulk users. Last year, FCI sold more than 10 lakh tonne of wheat to bulk users under the OMSS.

Sugar output slumps 44% in early 2024-25 season as mills delay crushing

India's sugar production dropped 44 per cent to 7.10 lakh tonnes in the first six weeks of the 2024-25 season compared with 12.70 lakh tonnes a year earlier, as fewer mills started crushing operations, industry body NFCSFL said on Friday. Only 144 sugar mills were operational as of November 15, down from 264 mills in the previous year, the National Federation of Cooperative Sugar Factories Ltd (NFCSFL) said in a statement. Maharashtra, one of India's top three sugar-producing states, has yet to begin crushing operations. Last year, 103 mills were operational in the state during the same period. Sugar recovery rates remained stable at 7.82 per cent, matching last year's levels, the cooperative body said. In Karnataka, production fell to 26.25 lakh tonnes from 53.75 lakh tonnes a year ago, with only 40 mills operating. Uttar Pradesh had 85 operational mills during the period. The industry body estimates total sugar production for the 2024-25 season, which runs from October to Septem

NSE to boost commodities segment with new contracts in coming months

The National Stock Exchange of India (NSE) is gearing up to strengthen its commodities segment with plans to roll out new contracts in the next few months, an NSE official said on Friday. The exchange is looking to leverage its expansive reach and financial strength to make a significant mark in commodities trading. NSE Chief Business Development Officer Sriram Krishnan said the exchange is considering rolling out new contracts in the next few months and the focus would be non-agri commodities as there is a lot of certainty in launching these asset classes as compared to agri commodities. These additional contracts would be selected from a wide array of Sebi-approved commodities. Moreover, about 240 members have set up already and live on NSE commodities. These included foreign portfolio investors, algo participants and active market makers. "NSE is convinced that commodities are a very big thing which is about to happen in India. We did a lot of analysis on which contracts come ou

Gold expected to give 15-18% returns in Samvat 2081, say analysts

Gold is expected to deliver a stellar 15-18 per cent return in Samvat 2081, driven by positive economic factors and safe-haven demand, analysts said. Samvat 2081 marks an important period for Indian investors as it signals the start of a new financial year in the Hindu calendar, coinciding with the auspicious festival of Diwali. Gold and silver have delivered a robust performance in Samvat 2080, and the outlook remains positive for Samvat 2081, though investors may see moderate gains amid possible shifts in global market factors, they added. "The outlook for gold in Samvat 2081 remains positive. We expect a base performance of 10 per cent with potential for 15-18 per cent gains if the import duty cut continues to drive buying momentum. "However, any hike in import duties could push gold's performance beyond 15 per cent. A stable interest rate environment could also support a gradual upward trend," Jateen Trivedi, Vice President of Research for Commodities and Currency at LKP ...