According to Geojit Financial Services, India's exports of spices rose 10% on year to 940,997.50 tonnes in Apr-Oct, according to data from the Spices Board of India.
The rupee closed up 0.1% at 85.7125 against the U.S. dollar, its strongest daily gain since late-November.
According to Geojit Financial Services, Growth of the agricultural and allied sectors is likely to be 3.5-4% this year, Minister of Agriculture and Farmers Welfare and Rural Development Shivraj Singh Chouhan said, according to a release by the ministry.
The dollar index was down 0.3% at 108.5 on Monday, retreating from an over two-year high, but that did little to help the local currency in the face of strong dollar bids in the local spot and in the non-deliverable forwards (NDF) market.
In the last 20 years, gold as an asset class has had only four negative years, with no double-digit negative return years. Compare this to Sensex, which has had two 25% plus negative years in the last two decades.
According to Geojit Financial Services, The UN Food and Agriculture Organization's Food Price Index fell 0.5% on month to 127.0 points in December as declining prices of sugar, dairy products, vegetable oils, and cereals offset increases in meat, the organisation said in a report.
After two holiday-shortened weeks, traders are preparing for an event-packed week ahead, with FOMC meeting minutes, speeches from several Fed officials, services PMI, and the US jobs report all in focus.
Indian dealers offered a discount of up to $14 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, unchanged from last week.
According to Geojit Financial Services, Arrivals of the new kharif tur crop in spot markets across the country rose 78% on year in December, to 84,130.33 tonnes from 47,154.63 tonnes in December 2023, according to the India Pulses and Grains Association.
In the near term, the rupee is expected to trade between 85.30 and 85.80, said Amit Pabari, managing director at FX advisory firm CR Forex.
Tepid capital flows have also been a pain point for the rupee. Foreign investors logged net purchases of only $124 million of Indian equities in 2024, down from $20.7 billion in 2023.
According to Geojit Financial Services, Farmers in Maharashtra have sown rabi crops over 5.8 million hectares as of Monday, up 21.6% on year from 4.7 million hectares in the same period last year, according to a report released by the state agriculture department.
According to Geojit Financial Services, The water level in 155 key reservoirs in the country fell to 135.404 billion cubic metres as of Thursday from 139.392 billion cubic metres on Dec.
According to Geojit Financial Services, The water level in 155 key reservoirs in the country fell to 135.404 billion cubic metres as of Thursday from 139.392 billion cubic metres on Dec.
Commodity traders should be cautious of increased volatility due to fewer market participants and reduced market depth in new year week.
According to Geojit Financial Services, The National Commodity and Derivatives Exchange on Monday said there would be a live trading session on Feb. 1 on account of the presentation of the Union Budget 2025-26 (Apr-Mar).
The rupee ended at 85.2625 to the dollar, against 85.20 in the previous session. It hit an all-time low of 85.2825 earlier in the session
Motilal Oswal is bullish on Raymond Lifestyle recommended buy rating on the stock with a target price of Rs 3000 in its research report dated December 24, 2024.
According to Geojit Financial Services, Farmers in Maharashtra have sown rabi crops over 5.5 million hectares as of Tuesday, up nearly 26% on year from 4.4 million hectares in the corresponding period last year, according to a report by the state agriculture department.
The US Dollar, near two-year highs, will be a key factor for precious metals. Going forward, forecasts on the precious metals are extremely bullish, with UBS seeing gold at $2,900/oz by end of 2025 while Citi, Goldman Sachs and JPMorgan are pegging a target of $30,00 by December 2025.
Falling output should be good for steel prices but China’s slowing economy has led to surplus steel flooding other markets
According to Geojit Financial Services, The National Commodity and Derivatives Exchange Ltd. will launch options contracts on turmeric, coriander, and jeera futures, according to a circular issued by the exchange Thursday.
The data is likely to show that month-on-month core PCE inflation was at 0.2% month-on-month in November, down from 0.3% in the previous month.
Gold has been trading 19.96%, higher compared to the start of the year
According to Geojit Financial Services, The Securities and Exchange Board of India has extended the suspension of derivatives trade in wheat, chana, moong,paddy (non-basmati), mustard seeds and its derivatives, soya bean and crude palm oil till Jan 1, the regulator said in a release on Wednesday.
