Agri Picks Report January 25, 2024: Geojit
According to Geojit, The area under summer crops in Karnataka fell 30.5% on year to 68,800 ha in the current season as of Saturday, but it is still higher than the normal area of 64,000 ha for the season, according to the state agriculture department's report.
Oil prices rise on big draw in US crude stocks, China stimulus hopes
The March contract for Brent crude gained 20 cents, 0.3%, to $80.24 a barrel as at 0128 GMT. U.S. West Texas Intermediate crude climbed 22 cents, or 0.3%, to $75.31 a barrel.
Agri Picks Report January 24, 2024: Geojit
According to Geojit, The area under rabi crops in Gujarat was at 4.59 mln ha in the current season as of Monday, up 3% from 4.46 mln ha last year, according to data from the state agriculture department.
Gold steadies as traders brace for US economic data
Spot gold edged 0.1% lower to $2,027.39 per ounce by 0156 GMT.
Oil prices little changed as fundamentals weigh on geopolitical risk premium
The front-month March contract for Brent crude inched up 5 cents to $79.60 a barrel as at 0138 GMT. U.S. West Texas Intermediate crude ticked up 7 cents to $74.44 a barrel.
Agri Picks Report January 23, 2024: Geojit
According to Geojit, India's production of horticulture crops in 2022-23 (Jul-Jun) is estimated to reach a new record high of 355.25 mln tn, according to the government's third advance estimate.
Oil slips as economic concerns eclipse geopolitical tensions
Brent crude futures fell 14 cents, or 0.2%, to $79.92 a barrel by 0125 GMT, while U.S. West Texas Intermediate crude futures (WTI) were last down 10 cents, or 0.1%, at $74.66 a barrel.
Gold steadies ahead of key US data
Spot gold edged 0.1% higher to $2,030.87 per ounce by 0116 GMT.
Oil extends losses as economic headwinds weigh on demand outlook
Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday.
Commodity market participants to focus on PCE price index, US GDP, ECB interest rate call this week
Commodity market participants will closely watch the ECB's monetary policy decision, particularly after some members of the Governing Council pushed back against aggressive easing calls, acknowledging potential upside risks to inflation.
Minimizing India's carbon footprint using bamboo | Commodities Corner
India, ranking as the third-largest global consumer and importer of oil, is actively pursuing a reduction in crude oil consumption by transitioning to eco-friendly alternatives like biofuels. The nation aims to increase the blending of ethanol with gasoline to 20% by 2025. The Assam biorefinery, developed at a cost of 40 billion rupees in collaboration with NRL and Finnish partners Chempolis and Fortum, marks India's pioneering use of bamboo as a feedstock. Catch Manisha Gupta in conversation with Bhaskar Phukan, Managing Director, India's Numaligarh Refinery and KPJ Reddy, Prof-IISc
Agri Picks Report January 19, 2024: Geojit
According to Geojit, India's oilmeal exports in December rose 23% on year to 532,729 tn, according to data released by The Solvent Extractors' Association of India today.
Oil prices drift lower on China demand worries
Brent crude futures fell 17 cents, or 0.2%, to $78.93 a barrel by 0151 GMT, and U.S. West Texas Intermediate crude futures (WTI) slid 3 cents to $74.05.
Agri Picks Report January 18, 2024: Geojit
According to Geojit, The area under rabi crops in Gujarat was at 4.56 mln ha in the current season as of Monday, up 2.4% from last year, according to data from the state agriculture department.
BP went for continuity. It needs a revolution: Javier Blas
Along with many other companies, BP loves to reinvent its brand. For a time, it marketed itself as Beyond Petroleum.
SKYMET predicts India is likely to experience average monsoon conditions in 2024| Commodities corner
In the "Preliminary Monsoon Forecast Guidance for 2024," Skymet foresees the approaching monsoon as being categorized as 'normal.' This year is likely to be one of those characterized by a robust commencement, progressing steadily and concluding approximately midway within the normal range. The standard range for normal rainfall is defined as 96-104% of LPA (868.6mm). Catch Manisha Gupta in conversation with G P Sharma, President, Meteorology & Climate CHange, Skymet
Agri Picks Report January 17, 2024: Geojit
According to Geojit, The area under rabi crops in Gujarat was at 4.56 mln ha in the current season as of Monday, up 2.4% from last year, according to data from the state agriculture department.
Oil prices fall as stronger dollar offsets Red Sea disruptions risks
Global benchmark Brent crude futures fell 36 cents, or 0.5%, to $77.93 a barrel by 0215 GMT. U.S. West Texas Intermediate crude futures (WTI) fell 43 cents, or 0.59%, to $71.97 a barrel.
Market Live: India keeps edible oil import duty lower until March 2025| Commodities Corner
On Tuesday, the Indian government announced a one-year extension of the reduced import duty on edible oil, now effective until March 2025. The initial expiration date for the lower import duty on crude palm oil, crude sunflower oil, and crude soy oil was set for March of this year. As the largest global importer of vegetable oil, India has opted to maintain the lowered import duty structure. Notably, the basic import duty on refined soybean oil and sunflower oil was reduced from 17.5% to 12.5% in June of the previous year. The primary sources of India's palm oil imports are Indonesia and Malaysia. Catch Manisha Gupta in conversation with Sandeep Barjoria - Sunvin with more details
Agri Picks Report January 16, 2024: Geojit
According to Geojit, The US Department of Agriculture has reduced its estimate for global oilseed output for 2023-24 (May-Apr) to 660.18 mln tn, down 810,000 tn from 660.99 mln tn forecast in December.
Oil ticks up as Middle East crisis escalates, tankers divert
Brent crude futures rose 12 cents, or about 0.2%, to$78.27 a barrel at 0002 GMT. The contract had settled 14 cents lower on Monday.
Market Live: What winter weather indicates for the rabi crop | Commodities Corner
The current heavy fog and cold weather in North India are having a significant impact on the Rabi crops, particularly due to deficient winter rain. Farmers are advised to implement frequent irrigation measures to mitigate the adverse effects on their crops. The combination of heavy fog and cold conditions can lead to several challenges for Rabi crops. Catch Manisha Gupta in conversation with G P Sharma, President, Meteorology & Climate Change, Skymet
Agri Picks Report January 15, 2024: Geojit
According to Geojit, India's edible oil imports in December fell sharply by almost 16% to around 1.31 mln tn from 1.55 mln tn a year ago, the Solvent Extractors' Association of India said today.
Oil steady as middle east risks offset by softening fundamentals
Brent crude traded near $78 a barrel and West Texas Intermediate was close to $73 even after the US followed up the initial strikes against targets in Yemen with a fresh attack on a radar installation.
Commodity markets set to focus on US retail sales, FOMC officials speeches next week
Crude oil prices may remain supported amid fears of disruptions and the need for vessels to divert, especially as Saudi Arabia warned that recent actions by the US and its allies could inflame tensions.
