Untimely rainfall in Punjab earlier this month has affected cotton arrivals in various mandis of the state. According to the data compiled by Punjab State Agricultural Marketing Board (PSAMB), as on September 29, the arrival was 27 per cent less than the corresponding period last year.
Even as the diamond industry is witnessing decline in finance availability due to lenders like Antwerp Diamond Bank (ADB) shutting shop and Standard Chartered Bank reducing exposure, among others, rough and polished diamond prices are set to witness correction.
Global commodities prices have already reached inflexion points and are headed downward, according to the RBI. The central bank, as a part of its monetary policy announced today, published the analysis based on the last five decades’ data of prices of commodity both energy and non-energy, to show that commodity super cycle may be turning downwards.
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah on Monday exited the Multi Commodity Exchange (MCX), the country’s largest commodity bourse that he founded in 2003, with FTIL signing an agreement with Kotak Mahindra Bank to sell its 15 per cent stake.
This season, the Brazilian sugarcane crop is nine per cent lower than the government estimate, provoking an observer to say “you are looking at reduced crop at reduced prices. That’s a recipe for disaster”.
As the four-month southwest monsoon season comes to an end on Tuesday, sowing of major kharif crops has picked up pace with the total area crossing 100 million hectares in 2014, a tad lower than last year’s 104 million hectares.