Market News Today

Enhanced pricing certainty foreseen to manage demand better. Primary mills anticipate significant price hikes amid supply constraints. Tata Steel SEZ partners with Hygenco for a green hydrogen project, bolstering India’s sustainable energy sector. Market outlook favors price increases.

Cashew prices are holding firm, with W320 cashews at Rs. 610/kg and W240 at Rs. 710/kg. NP 27 to 30 count size almonds at around Rs. 530/kg. Pistachio prices have also been stable, with California 21-25 Inshell priced around Rs. 805-810/kg.

The Japanese Naphtha market remains stable due to balanced supply-demand dynamics and consistent Saudi Arabian imports. Lower global crude oil prices further contribute to this stability, mirroring trends in South Korea's Naphtha prices.

April 2024 saw stability in the US Lithium Carbonate market with unchanging prices, moderate demand in battery sector, and South American sellers reducing quotes due to oversupply.

Best Agrolife has announced the registration of two novel herbicide formulations, including a patented combination of Bispyribac Sodium, Penoxsulam, and Pyrazosulfuron Ethyl. This potent blend, effective against weeds, enhances rice production.

Despite paused domestic production due to heavy rains, Tanzania ensures steady sugar supply through recent imports. Most of the approved 155,000 metric tonnes have arrived, ensuring stable market prices for citizens.

Brazil, responsible for 70% of global raw sugar exports, saw a harsh delivery of 1.67 MMT of raw sugar amid May contract expiry on ICE. Singapore-based Wilmar International was the key deliverer, making it one of the largest deliveries.

Despite a recent drop due to anticipated better sugar supply prospects globally and increased Brazilian production estimates, international sugar prices are expected to see a short-term rise. Factors like recent bottoms in NY and London sugar also contribute to this prediction.

Thursday saw a mixed trade in sugar stocks. Big gainers included Dollex Agrotech, Bajaj Hindusthan, Bannari Amman Sugar, and Ponni Sugar Erode. However, Mawana Sugars, KM Sugar Mills, and Balrampur Chini faced minor dips.

INEOS Oxide finalizes acquisition of LyondellBasell's Ethylene Oxide and Derivatives business, extending its market strategy in the U.S., the world's largest ethylene market, complementing its existing Ethanolamines production.