Rising inflation in the US has led to a sharp rise in gold and silver prices

- Commodity Current: Jayavadan Gandhi

The new year is expected to be fruitful for the 202 agri as well as the commodity sector like bullion and metal. Demand for this specialty has grown significantly as a result of recent corporate scandals. Gold-silver trades are higher this year than last Diwali. The demand for physical gold parallel paper gold reed has also increased and more than 40 tonnes have been sold this year. Last month, in October, the turnover in Yrung Ikh was around Rs 200 crore. Despite the boom in the stock market, investors are still giving first priority to gold and silver for safe investing. Since gold cane is bought like the stock market, it is a little cheaper as there is no other charge like Ghadaman. Like gold reed, silver reed is also becoming a good option for investors. Rising inflation in the US has pushed gold and silver prices higher. Gold prices are at five-month highs and silver prices are at three-month highs. At present, the price is currently hovering around Rs 4,200 and the price of silver is likely to go up to Rs 8,000 to Rs 20,000 in the near future. As gold and silver are a chain of crisis times, it has been a hobby of Indians for years.

In the new year, crude oil is also witnessing a sharp rise in prices to ડો 100 per barrel. The price war between the US and OPEC for the last six-seven years has been adversely affecting the crude oil trade. OPEC countries have controlled supply and prices have risen.

On the other hand, in the agro commodity market, circumstances have arisen where cumin has become the top of the commodity this year. Things like cumin, castor, rye, ajmo, coriander, guar are likely to give good prices to farmers throughout the year. Cumin has been growing by more than 50 per cent since January 2021. With the carry forward stock of cumin being low, the next planting is also likely to be as low as 5 to 20 per cent. Thus, during the year, cumin futures have continuously increased from 1500 to 15000 after Diwali. At present, the farmers are moving towards crops like Raydo, Castor, Coriander, Isbagol, which have better prices than cumin. There is a way to be profitable.

Turmeric, another spice crop, has grown by 20 to 5 per cent during 2021. Due to good turmeric cultivation and good stock of old goods, the market is currently hovering in the range of around 200, which is expected to rise to the level of 500 against the long-term uptrend in turmeric.

Castor, meanwhile, has seen significant gains in the last five to six months. Castor futures are in the range of Rs 300 to Rs 500 per quintal. Castor has risen by five per cent in the last one month and by 4 per cent in the last year. However, castor cultivation has been steadily increasing for the last two years. With the decline in castor production, the demand for castor oil from China this year has been strongly supported by higher prices. Currently, India-China tensions have adversely affected the demand for castor oil. However, the demand for castor at the local level has been steadily improving. In the long run, castor futures are likely to go up from Rs 500 to Rs 2,000.

In other oilseeds, the soybean market is currently witnessing a slight uptick in the growing market. Currently there are around 200 markets. Increased demand in the spot market is a slight increase in soybeans. However, the soybean market, which has crossed the 10,000 mark, has suddenly collapsed by more than 50 per cent, leaving farmers in the lurch. As a result, farmers are not in the mood to sell soybeans at present.