According to Geojit, India's oilmeal exports in October rose 36% on year to 289,931 tn, according to data released by The Solvent Extractors' Association of India today.
Crude oil prices at 4-month low. Headed for 4th weekly loss on the back of weak global demand and rising supplies. Manisha Gupta tells us all about crude and other precious metals in this episode of Commodities corner.
OPEC has blamed speculators for the recent drop in oil prices, dismissing negative sentiment as exaggerated.
According to Geojit, Farmers in Andhra Pradesh have sown rabi crops over 268,000 ha as of Wednesday, down 17% from 323,000 ha a year ago, according to state government data.
Brent futures settled down $3.76, or 4.6%, to $77.42 a barrel. U.S. West Texas Intermediate crude (WTI) shed $3.76, or 4.9%, to $72.90. Both Brent and WTI earlier traded at their lowest since July 7, at $76.60 and $72.16, respectively.
West Texas Intermediate traded near $73 a barrel after dropping more than 20% from a high in September. Global benchmark Brent plunged almost 5% on Thursday. The declines followed a build in US crude inventories, and were likely amplified by automated selling programs.
Bitcoin is currently trading at its highest level since May 2022, while Solana has seen its prices triple in the past month. Catch Manisha Gupta in conversation with Ajeet Khurana, Founder, Reflexical as they provide a comprehensive overview of these developments.
According to Geojit, The area under rabi crops in Maharashtra has risen nearly 10% on year to 1.48 mln ha in the current season as of Monday from 1.35 mln ha a year ago, according to data published by the state agriculture department.
Brent futures fell 28 cents to $80.90 a barrel by 0001 GMT. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel.
Export demand had slackened in the last few months as prices had shot up by 100-200% to Rs 500-700 per kg in June- October 2023, from a year ago.
Brent crude futures rose 33 cents, or 0.4%, to $82.85 a barrel by 0113 GMT. U.S. WTI crude futures were also up 33 cents, or 0.4%, at $78.59 a barrel.
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“This year, Malabar has opened 18 new stores and 19 other stores in the pipeline”, said Malabar’s Retail Expansions Head, Fanzeem Ahamad. To know what else is ahead in this industry, tune in with Moneycontrol’s Manisha Gupta in a candid conversation with Fanzeem Ahamad on return on gold investments, demand in festive season, expansion plans and people’s inclination.
According to Geojit, Production of crude palm oil in Malaysia rose 5.9% on month to 1.94 mln tn in October, the highest since at least January 2020, according to preliminary data from the Malaysian Palm Oil Board.
Brent crude futures for January were down 35 cents, or 0.4%, at $81.08 a barrel at 0051 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $76.82, down 35 cents, or 0.5%.
Gold prices have fallen by Rs 800-1,500 per 10 gram (24 carat) from the peak Rs 63,000-level on October 28 and this has evoked buying on Dhanteras, considered the most auspicious day in Hindu calendar for buying items ranging from precious metals to utensils, with traders expecting gold sales to surpass last year's level.
Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart Ltd., said he expects gold prices to move towards Rs 64,000 to Rs 66,000 per ten grams in 2024. However, any dip to the Rs 57,000 – Rs 58,000 levels may be a good `buy’ opportunity.
Planning to buy gold this Dhanteras? What are your investment options & how are jewellers upping their game? Catch Manisha Gupta as she sheds more light on this
According to Geojit, The National Commodity and Derivatives Exchange released specifications for the crude sunflower oil futures contracts on Wednesday.
Brent crude futures for January were flat at $80.01 a barrel at 0157 GMT, while the U.S. West Texas Intermediate (WTI) crude futures for December were at $75.67, down 7 cents.
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According to Geojit, The National Commodity and Derivatives Exchange is set to launch sunflower oil futures contracts on Sunday.
Brent crude futures settled down $2.07, or 2.5%, to $79.54 a barrel. U.S. crude lost $2.04, or 2.6%, to $75.33. Both benchmarks hit their lowest since mid-July.
The industry does not foresee customers flocking to jewellers this year during the normally busy and auspicious time of Dhanteras and Diwali, but the high price could mean that revenue figures are not badly affected.
According to Geojit, The Centre has increased the stock limit on tur and urad dal for wholesalers to 200 tn each from 50 tn, according to a notification by the consumer affairs ministry on Monday.