BL Commodities

Global #wheat production is projected to decline by 23 million tonnes (mt) in the 2026-27 (September-August) season as farmers in #NorthAmerica, the #EuropeanUnion, the #UK and #Australia either switch to other crops or reduce acreage amid El Niño-induced weather risks and higher input costs linked to the Iran conflict. International Grains Council USDA https://lnkd.in/g-jCekY4

An uneven spread of the #South-West monsoon is causing concern in #India despite a one per cent above-normal rainfall in July making up, to some extent, for the 35 per cent deficient rain in June.  The non-linear spread of the rain has raised concerns over kharif crop prospects. Prabhudatta Mishra https://lnkd.in/gv4qmzuC

#Turmeric prices in the country have surged to record highs on a hand-to-mouth supply situation, and fears of El Nino impact the crop that is currently being sown, said industry stakeholders. Ankit Agarwal AgriWatch https://lnkd.in/gyWGxnKn

The #Eternal Group (formerly Zomato) has come up with an #agroforestry-based carbon credit model to tackle carbon emissions through its Greening India initiative. Vishal Kumar https://lnkd.in/gh-VWNKC

#Indian #non-basmati rice prices have increased over the past few weeks by over $18 per tonne in the global market due to the #El Nino factor, but they are still the most competitive on a free-on-board (f.o.b) basis. Rajesh Paharia Jain Chandrasekaran Srinivasan Madan Prakash Murughasan Fitch Solutions https://lnkd.in/gD_3Tt2C

An alleged rice diversion scam linked to India’s ethanol programme has triggered investigations across Madhya Pradesh and Uttar Pradesh. How was subsidised rice meant for ethanol production allegedly diverted, and why is there a dispute over the scam’s actual value? businessline https://lnkd.in/gwvvPT3p

Physically backed gold exchange-traded funds witnessed net positive investments of $2.62 billion last week as investors in the #US and #China led the return, data from the World Gold Council (WGC) showed. https://lnkd.in/gN-cJT85

The current geopolitical environment, particularly due to the #US-Iran conflict, highlights the need to strengthen #India’s agricultural resilience, said Komal Shah Bhukhanwala, executive director (ED) of SML Group Limited (formerly Sulphur Mills Limited). Anjul Tyagi https://lnkd.in/gCp99mJS

Currently caught between macro headwinds and #US tariff uncertainty, #copper prices will likely remain volatile in the coming months due to the US-Iran conflict. The current rally has already extended beyond what fundamentals alone would justify. https://lnkd.in/gH_mSA-V

The Indian government’s decision to increase the import duty on gold and silver has probably led to increased smuggling, with data showing a manifold jump in seizures of smuggled consignments of the precious metals. The seizure of silver consignments increased by more than 10 times between May 13 and June 30 compared with the April 1-May 12 period. On the other hand, gold consignment seizures jumped 186 per cent during the period, data provided by the Government in the Lok Sabha showed. India Bullion and Jewellers Association Ltd. (IBJA) https://lnkd.in/gFxNFxuD