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Cotton prices at the global level have risen to an 18-month high, making the biggest gains since September 2022, with the price rise in February 2024 seeing an uptick of 27% globally and 16% in India.
According to Geojit, Farmers in Gujarat have sown crops across 178,660 ha as of today for the 2023-24 summer season, down 15% from 210,481 ha in the corresponding period of last year, according to the state agriculture department data.
Brent crude futures fell 38 cents, or 0.45%, to $83.27 a barrel by 0110 GMT, while U.S. West Texas Intermediate crude futures (WTI) were down 35 cents, or 0.44%, to $78.52 a barrel.
Spotlight on metal prices: metals witness decline, Aluminum & Zinc prices fall. Aluminum prices near 1 month low. US refrains from Sanction on Russia aluminum industry. Russia Aluminum at 3.8mln tons amounts to 6% global. Bauxite exports from Guinea continue following explosion at a fuel depot. Inventories in Shanghai surge 65% in previous week. China inventories at 173K tons is at May 2023 high. Catch Manisha Gupta in conversation with Peter McGuire CEO, XM Australia. Catch Manisha Gupta in conversation with Peter McGuire CEO, XM Australia on sharp decline on metals
According to Geojit, The area under rabi crops in Telangana was 6.3 mln acres (1 acre = 0.40 ha) as of Wednesday, 8.2% lower than 6.85 mln acres a year ago, according to data from the state government.
Price of Parboiled Rice exported from India is at record high. Govt has also extended 20% export duty on parboiled rice beyond March. Catch Manisha Gupta in conversation with Dr Prem Garg, National President, Indian Rice exporters federation.
According to Geojit, The area under rabi crops in Telangana was 6.3 mln acres (1 acre = 0.40 ha) as of Wednesday, 8.2% lower than 6.85 mln acres a year ago, according to data from the state government.
Brent crude futures fell 34 cents to $81.28 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures (WTI) declined 33 cents to $76.16 a barrel.
Looking ahead to the coming week, the spotlight will be on the US PCE price index, the second estimate of US Q4 GDP, ISM Manufacturing PMI, and a series of speeches from Fed officials.
According to Geojit, Farmers in Andhra Pradesh have sown rabi crops over 1.65 mln ha as of Wednesday, down 10% from 1.83 mln ha a year ago, according to state government data.
Brent crude futures were down 25 cents, or 0.3%, at $83.42 a barrel at 0212 GMT, while U.S. West Texas Intermediate crude futures were 25 cents, or 0.3%, lower at $78.36.
According to Geojit, India's spices exports during Apr-Nov rose 6.1% on year to 953,303 tn, according to data from the Spices Board India. In terms of value, exports for the period rose 3.8% to $2.68 bln from $2.58 bln a year ago.
U.S. West Texas Intermediate crude futures (WTI) rose 17 cents to $78.08 a barrel for the prompt month. The May contract gained 14 cents to $77.45 a barrel by 0150 GMT.
Natural Gas Prices Rise As Colder Weather Forecasts Increase Heating Demand. Upside remains limited due to record-high domestic natural gas production in US. Robust production has kept inventories well-supplied. Catch Manisha Gupta in conversation with Kunal Shah, Head of research commodities, Nirmal bang
According to Geojit, India's spices exports during Apr-Nov rose 6.1% on year to 953,303 tn, according to data from the Spices Board India. In terms of value, exports for the period rose 3.8% to $2.68 bln from $2.58 bln a year ago.
Brent crude futures rose 12 cents, or 0.15%, to $82.46 a barrel by 0100 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 9 cents, or 0.12% at $77.13.
Edible oil prices are under pressure due to weak China demand and favorable weather in Argentina and Brazil, Soyabean & Sunflower oil trade at discount for 1st time in an year. Catch Manisha Gupta in conversation with Dr. B.V. Mehta, the Executive Director of The Solvent Extractors' Association of India.
According to Geojit, Mills in the country produced 22.37 mln tn of sugar from Oct 1, 2023, till Feb 15, 2.5% lower than the corresponding period a year ago, the Indian Sugar & Bio-energy Manufacturers Association said in a press release today.
The cryptocurrency market observed a strong recovery in the year 2023 after it witnessed a slight downside due to the global macroeconomic situations and inflation data. Bitcoin trades above $52,000 and hit all time high of $69,000 in November 2021. Catch Manisha Gupta in conversation with Ashish Singhal, Co-founder of Coinswitch, to discuss the cause of this Crypto surge.
According to Geojit, Farmers in Gujarat have sown crops across 14,651 ha for the 2023-24 summer season as of Monday, according to data released by the state agriculture department.
Brent crude futures were down 58 cents, or 0.69%, at $82.89 a barrel. U.S. West Texas Intermediate crude was 35 cents, or 0.44%, lower at $78.84 at 0138 GMT.
The minutes of the January FOMC meeting may provide further insights into why Fed officials are not confident enough to initiate policy easing in Q1 2024, as markets had previously anticipated.
Olive oil's rising prices: Drought in Spain and cutting of olive trees in Gaza are contributing to the global price rise. Beyond the economics, though, it is the story of the olive farmer in the West Bank that is most poignant. For many of them olive oil harvesting is the only source of income and a bond with their antiquity.
Sugar prices may have seen a 10% uptick in 2024 till date however, the last week has seen a 5% slump in sugar prices. What's causing this pain. While India is the 2nd largest producer of Sugar and is likely to drive growth, it is not included in the global market. Manisha Gupta discusses the prospects of sugar prices going ahead with Rahil Shaikh MD, MEIR Commodities on Commodities Corner
Brent crude futures dropped 11 cents, or 0.1%, to $82.75 a barrel at 0131 GMT. U.S. West Texas Intermediate crude futures rose 1 cent to $78.04 a barrel.
