Sugar exports in the ongoing 2021-22 season is 15 times more than that registered in the 2017-18 season
The rupee recovered to gain a touch on Friday, tracking a weaker dollar and a robust rally in domestic stocks which made a stunning comeback from deep losses in the previous session driven by an increase in risk appetite after China cut a key lending benchmark to support its economy.
Indonesia will lift its ban on palm oil exports next week, President Joko Widodo said Thursday, relieving pressure on the global vegetable oil market after prices spiked because of the suspension and the war in Ukraine.
The average price of the Indian crude oil basket this month has jumped to $107.27 per barrel as of May 18, 2022, a jump of over 4 per cent compared to near $103 per barrel average in April; data showed on Thursday.
The rupee extended its losses into early Thursday after closing at a new all-time low, even as the dollar took a breather after heavy gains and as global stocks tumbled on increasing concerns that aggressive tightening by global central banks could choke growth.
Domestic LPG Price: Domestic cooking gas LPG (Liquefied Petroleum Gas) prices has been increased by Rs 3.50 per cylinder on Thursday.
The rupee closed at a new all-time low of about 77.58 against the dollar on Wednesday, tracking a rise in crude prices and a reversal in domestic stocks, with the two-day relief rally in equity benchmarks coming to an end.
Gold and silver futures fell on Wednesday, taking cues from the international spot rates.
The rupee started on a weak note as crude prices rose more than $1 a barrel in early Asian trade on Wednesday on hopes of demand recovery in China, and persistent foreign fund outflows weighed on investor sentiment.
"Higher trade...have put pressure on the rupee, which has already breached the INR/USD 77.0 mark and may touch 78.0 shortly," noted Acuite Ratings.
India's petrol and diesel consumption jumped in May as pick up in the economic activity as well as the start of the harvesting season aided the return of demand, a preliminary industry data showed on Monday.
Gold and silver futures rose on Monday, rebounding from recent lows.
The price of CNG in the national capital has been hiked by Rs 2 per kg, the 12th increase in rates in just over two months.
Jet fuel prices on Monday were hiked by a steep 5.3 per cent - the tenth straight increase this year -- to an all-time high, in line with a surge in global energy prices.