The bearish trend in tur prices is expected to continue for one to three months due to multiple factors. These factors include arrivals with high moisture content, high domestic production estimate, and huge imports from African countries.Register to read
Gold derivatives that trade most of the time in contango have suddenly shifted to backwardation, a condition in which prices for cash delivery are higher than futures, indicating a short-term imbalance between supply and demand, according to Renisha Chainani, research head at Augmont Goldtech Pvt. Ltd. This is a rare occurrence in the gold market where traders can profit by holding futures positions until contract expiry.Register to read
The government has allowed exports of sugar and has set the quota at 1 million tonnes for 2024-25 (Oct-Sep), Pralhad Joshi, Minister of Consumer Affairs and Food and Public Distribution, said on X. The move aims to stabilise sugar prices and ensure timely payments to farmers, Joshi added. "This ensures price stability, supports 5 core (50 million) farmers, 5 lakh (500,000) workers, and strengthens the sugar sector," Joshi said. Register to read
Farmers in India have sown rabi crops over 64.0 million hectares as of Monday, 0.4% up from a year ago, according to data from the Department of Agriculture and Farmers' Welfare. The current rabi acreage is 0.7% higher than the normal area of 63.35 million hectares for the season.Register to read
Global production of primary aluminium rose 3.3% month-on-month to 6.24 million tonnes in December, data from the International Aluminium Institute showed. Year-on-year, production rose 3% from 6.05 million tonnes a year ago.Register to read