New Delhi: Nafed, the government agency which buys agriculture products from farmers at minimum support price (MSP), is procuring lesser quantities of pulses (mainly tur) and oilseeds (mainly groundnut) this season as the drought conditions in Maharashtra and unfavourable weather conditions in other states have led to lower production. “The fall in procurement is also due to the drought conditions in Maharashtra and unfavourable weather conditions in other states. This is reflected in the second advance estimates of crops’ output where government has revised the output of tur from 4.08 million tonnes to 3.68 million tonnes and the revised production of groundnut from 6.328 million tonnes to 5.441 million tonnes,” said SK Verma, executive director (pulses and oilseeds). Further, the price support scheme by Nafed has jacked up the prices of a few varieties of pulses above the MSP in open market. “This has prompted farmers to sell their produce in the open market … [Read more...] about Nafed is procuring lesser quantities of pulses, oilseeds this season
Spruce meadows christmas market
This year’s advertisement – promoted as bringing a “tech-addicted nation together with lamb” – was uploaded on MLA’s Twitter page at 6.30pm on January 27. In recent years, the popular campaign has been launched up to two weeks ahead of Australia Day in an effort to increase lamb consumption. … [Read more...] about Karl Stefanovic calls the new lamb ad the ‘worst’ ever
ICE cotton futures slipped on Friday, en route for their worst week in four months, as increased aversion to risk in financial markets spilled into commodities that overshadowed a strong weekly export sales report. Cotton contracts for March fell 0.55 cent, or 0.79 per cent, to 69.48 cents per lb by 1:16 pm. EST (1816 GMT), trading within a range of 69.35 and 70.25 cents per lb. Prices have fallen nearly 2.5 per cent so far this week, heading for their biggest weekly percentage decline since mid-September. “We have risk-off (sentiment) across the board today... Cotton market had a tremendous run over a couple of months and some people are taking profits in this environment,” said John Payne, senior bro- ker at Daniels Trading. Crude oil prices fell along with US stocks amid renewed concerns over the spreading of a coronavirus outbreak from China. “Markets don’t like uncertainty and until we know what the threat potential of this virus is, traders tend to … [Read more...] about Cotton prices on track for worst week in 4 months
Gold climbed to a near three-week high on Monday as mounting concerns over the economic fallout of the coronavirus outbreak sent investors scurrying for safe havens. Spot gold was up 0.4 per cent at $1,577.31 per ounce by 1:50 p.m. EST (1850 GMT). Prices rose to $1,586.43, the highest level since Jan. 8, earlier in the session. US gold futures settled 0.3 per cent higher at $1,577.4 per ounce. "Safe-haven buying has been triggered by this virus in China and we're seeing a big sell-off in equity markets ... It's mostly panic, the markets are looking at the prospect of the Chinese economy slowing down," said Edward Meir, analyst at ED&F Man Capital Markets. "We could hit the recent highs above $1,600s if this thing deteriorates." The death toll from the coronavirus outbreak has risen to 81 in China, with 2,800 confirmed cases, and the virus has spread to more than 10 countries, including the United States and France. US stocks opened more than 1 per cent lower, while US 10-year … [Read more...] about Gold hits three-week high as virus fears spur flight to safety
By Nishant Kumar, Javier Blas and Suzy Waite If an oil trader so good that he was known as “God” can’t win in today’s markets, it’s hard to imagine who can. Andy Hall is closing down his main hedge fund after big losses in the first half of the year, according to people with knowledge of the matter. His flagship Astenbeck Master Commodities Fund II lost almost 30 percent through June, a separate person with knowledge of the matter said, asking not to be identified because the details are private. The capitulation of one of the best-known figures in the commodities industry comes after muted oil prices wrong-footed traders from Goldman Sachs Group Inc. to BP Plc’s in-house trading unit. At least 10 asset managers in natural resources have closed since 2012, including Clive Capital LLP and Centaurus Energy LP. Goldman Sachs reported its worst-ever result trading commodities in the second quarter. “I’m shocked,” said Danilo … [Read more...] about What made this oil trader known as ‘God’ fall to Earth?