co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Brent crude rose 23 cents to $86.98 a barrel by 0118 GMT. U.S. crude futures climbed 28 cents to $82.23.
The potential for liquidity boosts in China, with room for lowering the reserve requirement ratio for banks, may provide some cushion for metals markets.
The avocado market in India is gaining traction thanks to the foodservice industry. The avocado has turned into a mainstream food in India. Global consumption has skyrocketed in the past decade. Asia pacific to lead global demand growth. India imports avocados from Tanzania, Peru, US. Mexico accounts for 30% global avocado output. Watch Commodities Corner with Manisha Gupta for more details
According to Geojit, The National Commodity and Derivatives Exchange of India has decided to advance the expiry date of some farm futures contracts as voting for the general election is scheduled at the basis centres of the contracts on the earlier expiry date, it said in a release.
Spot gold was up 0.1% at $2,183.93 per ounce, as of 0117 GMT, after hitting an all-time high on Thursday. Bullion has risen 1.3% so far this week.
Brent crude futures fell 18 cents to $85.60 a barrel by 0011 GMT. U.S. crude futures shed 19 cents to $80.88 per barrel.
The rally in gold continues with prices hitting an all-time high. Strong physical demand for gold is also fueled by its appeal as a safe-haven asset and investors looking to diversify amid lackluster performances in other asset classes. Catch Manisha Gupta with more details
According to Geojit, The Cotton Association of India has estimated the country's cotton output in 2023-24 (Oct-Sep) at 30.9 mln bales (1 bale = 170 kg), down 5.2% from last year's output, according to a press release.
Brent crude oil futures contract for May settlement rose 0.6%, or 52 cents, at $86.47 a barrel at 0155 GMT, after falling 1.6% on Wednesday.
Bullion advanced to a record in early trading, before paring gains. It’s surged since mid-February, underpinned by long-standing supports including heightened geopolitical risks and buying by central banks, led by China.
According to Geojit, The area under summer crops in Maharashtra rose 10% on year to 278,687 ha as of Monday, according to data published by the state agriculture department.
Brent crude futures for May delivery fell 19 cents, or 0.2%, to $87.19 a barrel by 0104 GMT. U.S. West Texas Intermediate futures for April delivery, which expire on Wednesday's settlement, fell 35 cents, or 0.4%, to $83.12 a barrel.
According to Geojit, India's non-basmati rice exports plunged 29% on year to $3.68 bln in Apr-Jan, accounting for over 18% of the total exports of agricultural products, according to data collated by the Agricultural and Processed Food Products Export Development Authority.
The Brent crude oil futures contract for May delivery slipped 16 cents to $86.73 a barrel as at 0300 GMT, whereas that for U.S. West Texas Intermediate (WTI) fell 13 cents to $82.03. The WTI April contract, with expires tomorrow, fell 16 cents to $82.56.
According to Geojit, The area under rabi crops in Telangana was at 6.6 mln acres (1 acre = 0.40 ha) as of Wednesday, 9% lower than 7.3 mln acres a year ago, according to data from the state government.
India opens its first oil palm processing unit in Arunachal Pradesh. This achievement follows the launch of the National Mission for Edible Oils - Palm Oil in August 2021, aiming to produce 11.20 lakh tons of palm oil by 2025-26. With India importing 57% of its total edible oil needs, this initiative marks a significant step towards self-sufficiency. Despite global palm oil prices hitting a one-year high, India's palm oil imports in February saw a notable decline of 36%, the lowest since May 2023, showcasing progress towards domestic production and reduced dependency on imports. Catch Commodities Corner with Manisha Gupta and Atul Chaturvedi, Chairman of Asia Palm oil Alliance.
Brent crude oil futures for May delivery inched up 3 cents to $85.37 a barrel by 0045 GMT. The April contract for U.S. West Texas Intermediate (WTI) crude was up 10 cents to $81.14.
Chinese economic data and flash Manufacturing PMIs from developed economies will keep traders on their toes.
Spot gold was up 0.1% at $2,163.92 per ounce, as of 0338 GMT, but on track to post a weekly fall of more than 0.6%, its first since mid-February.
According to Geojit, The Food Corporation of India is yet to start wheat procurement as the arrivals of the crop have been hit by the recent rains, which delayed the harvest, the Hindu Businessline reported today.
Brent crude oil futures for May fell 41 cents, or 0.5%, to $85.01 a barrel at 1234 GMT, after crossing $85 a barrel for the first time since November on Thursday. U.S. West Texas Intermediate (WTI) crude for April fell 32 cents, or 0.4%, to $80.94.
The ongoing memecoin frenzy in the digital asset market continues unabated, as trading volumes now rival those observed just before the burst of the previous crypto bubble over two years ago. Memecoins like Dogwifhat and Pepe, renowned for their speculative and volatile nature, are surpassing the gains of Bitcoin, a dominant figure in the headlines. According to data from blockchain data firm Kaiko, trading volumes for leading memecoins, often priced at a fraction of a cent, surged to nearly $80 billion in the past week alone, marking the highest levels since October 2021. Watch Manisha Gupta with more details
According to Geojit, India's vegetable oil imports fell 12% on year to 974,852 tn in February from 1.1 mln tn last year, The Solvent Extractors' Association of India said today.
Catch Manisha Gupta in conversation with Prafful Vithlani , President All India Sugar Trade Association (AISTA) for more details
According to Geojit, The US Department of Agriculture has cut its monthly estimate for global oilseed output for 2023-24 (May-Apr) to 658.68 mln tn from 659.40 mln tn forecast in February.
