The Reserve Bank of India (RBI) bought 7.5 tonnes of gold in October 2019 for adding to its foreign exchange reserves, which swelled to $461 billion, including $28 billion in gold. The purchase was made after five months, the World Gold Council (WGC) said. The RBI now holds 625.2 tonnes of gold or 6.6 per […]
The Cotton Corporation of India (CCI) has procured about 40 lakh bales of cotton as part of its MSP procurement operations so far during the season, amounting to 25% of the crop arrivals in the market, top officials of the corporation said to the Financial Express. CCI’s target is to procure nearly 90 lakh bales. […]
The gems and jewellery industry in the country is expecting gold prices to be volatile during 2020, as the hostility between the US and Iran may continue this year. Notwithstanding the price volatility, the industry hopes that various forms of government support may help it grow 10 per cent in terms of volume during the year as […]
In a bid to attract investments and boost coal production, the government approved promulgation of an ordinance to open up the coal mining sector further by allowing non-coal companies to take part in auctions without end-use restrictions. The Centre also gave its nod for concluding auction of iron ore and other mineral mines before the […]
Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]
The Indian government said it was raising the minimum support price (MSP) for rabi crops that will hit the market in 2020-21, with the highest increase marked for lentils. A government statement said that the increase in MSP was in line with the principle of fixing these prices at a level of at least 1.5 […]
Cotton prices continued to reduce in August 2019, mainly due to a fall in international prices, rating agency India Ratings and Research (Ind-Ra) said in its latest report, adding that it expects prices to fall further as global production is likely to be higher than demand growth. With local prices (MSP) being higher than international […]
Spot gold declined by 1.5 per cent to hit the lowest in almost two months in early Tuesday trade. But it recovered by half towards evening on huge customer turnout to book their share on price fall. The decline in gold prices in the domestic market was followed by a similar move globally on easing trade tensions […]
In view of sustained high price of onions in the market, Central Government has imposed stock limits on onion traders to facilitate release of stocks in the market and prevention of hoarding by traders. Further, the government of India has banned export of onions with immediate effect till further orders for improving domestic availability. Recently, […]
Prices of green vegetables have declined by up to 39 per cent in the past three weeks because of a sharp increase in the arrival of new season harvests, reports Business Standard. Data compiled by the National Horticultural Board (NHB) showed that the price of green peas declined 39 per cent to trade at Rs […]
