Though the area under various rabi crops is higher this year than the previous one, factors such as above-normal winter temperatures and moisture stress have affected yields. Experts and trade bodies see another deficit year for wheat, which may force India to import the grain.Register to read
The International Grains Council has scaled down its estimate for global production in 2024-25 by 3 million tonnes to 2,301 million tonnes, compared to its projections in January, according to a grain market report released Thursday. The cut is mainly because of an expected drop in sorghum and maize output amid worsening prospects for South America. Register to read
Despite the Food Corp. of India offering more wheat at its weekly auction Wednesday, prices surged as millers made aggressive bids amid shortages in the open market. To bag more wheat from government godowns, millers mostly quoted above INR 3,000 per 100 kg Wednesday, and the average selling price rose to INR 3,011 from INR 2,667 per 100 kg last week, an FCI official said. Register to read
Crude oil inventories in the US, excluding those in the Strategic Petroleum Reserves, rose by 4.6 million barrels from the previous week to 432.5 million barrels in the week ended Feb. 14. Analysts at Dow Jones had expected the stocks to rise by 2.4 million barrels. US crude oil inventories were about 3?low the five-year average for this time of the year, the US Energy Information Administration said in its weekly report Thursday.Register to read