Latest news with #898
Express Tribune
01-07-2025
- Business
- Express Tribune
Gold up Rs6,600 on global jitters
Listen to article Gold prices in Pakistan extended their upward march on Tuesday, mirroring a strong rally in the international market, where the precious metal climbed over 1% amid a weaker US dollar and renewed economic uncertainty. International markets responded to rising investor caution ahead of US President Donald Trump's July 9 deadline for the possible reinstatement of higher trade tariffs, a move that has injected volatility and boosted demand for safe-haven assets like gold. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold in the local market surged Rs6,600 per tola, settling at Rs356,800. Similarly, the price of 10 grams of gold rose Rs5,658 to Rs305,898. The previous day, gold had also posted gains, with the price per tola increasing by Rs800 to reach Rs350,200. Traders attribute the sharp price increase to both global cues and persistent currency depreciation, which continue to drive domestic gold prices upwards. Interactive Commodities Director Adnan Agar noted that gold prices edged higher amid renewed geopolitical and economic jitters, largely triggered by Trump's latest remarks on trade tariffs. "Gold has moved up slightly," Agar observed, "mainly because Trump resumed his aggressive rhetoric around tariffs. Since yesterday (Monday), prices have increased by around $70 to $80, with the metal trading near $3,350 and having touched the high of $3,357." He also pointed to fresh tensions between Trump and Tesla CEO Elon Musk, suggesting that their escalating public spat may be contributing to market unease and further supporting gold's safe-haven appeal. "Their ongoing confrontation has added to the uncertainty, which in turn is pushing investors towards gold," Agar said, linking the rise in bullion to heightened volatility in US political and business circles. Gold delivered robust gains in the first half of 2025, particularly in US dollar terms, sparked primarily by the weakening of the greenback, according to Ole Hansen, Head of Commodity Strategy at Saxo Bank. Citing Bloomberg and Saxo data, Hansen noted that while dollar-based investors enjoyed strong returns – 25.9% – those holding other currencies, especially in Europe, saw much lower gains. Gold priced in Indian rupees topped the chart with a 26% rise, followed by the Chinese yuan (22.8%), Canadian dollar (19.1%) and Australian dollar (18.4%). In contrast, returns in the euro and Swiss franc stood at just 10.5% and 10%, respectively, reflecting how stronger local currencies dampened gold's performance for un-hedged investors. This disparity underscores the impact of currency dynamics, policy shifts and inflation expectations on commodity returns.
![MARKET PULSE PM JUNE 25, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fppm25_NSTfield_image_socialmedia.var_1750849482.jpg&w=3840&q=100)
![MARKET PULSE PM JUNE 25, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
25-06-2025
- Business
- New Straits Times
MARKET PULSE PM JUNE 25, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia ended higher, supported by renewed optimism that lifted overall sentiment and sectoral performance. In the broader market, the technology sector outperformed for a second consecutive day, climbing nearly two per cent, driven by gains in Vitrox and MyEG. The ringgit traded firmer against US dollar at 4.2330. In the cryptocurrency market, Bitcoin surged to RM451,898. Meanwhile, other currencies traded sideways, with Ethereum at RM10,371 and Solana at RM619. That wraps up today's Market Pulse.
Time of India
06-06-2025
- Business
- Time of India
Maharashtra achieves highest agro food exports in financial year 2024-25
N ashik: The state has achieved a 15% increase in its agricultural, processed, and food product exports, hitting an all-time high of Rs47,017 crore in the financial year 2024-25. This significant surge solidifies the state's position as a leading agricultural exporter. While the export volume for the financial year 2024-25 stood at 54.14 lakh tonnes, a slight dip from the 55.79 lakh tonnes recorded in 2023-24 fiscal, the substantial rise in value underscores a highly successful year. This data comes from the Agricultural and Processed Food Products Export Development Authority (APEDA), which operates under the Union Commerce Ministry. In the previous fiscal year (2023-24), the state's exports in this segment were around Rs40,898 crore. The state's diverse export portfolio includes a wide array of products such as bananas, grapes, onions, various other fruits, bovine meat, alcoholic beverages, and rice. Breaking down the export values for 2024-25 fiscal, bovine meat led the way at Rs10,300 crore, followed by fresh fruits (including bananas, grapes, and pomegranates) at Rs9,500 crore, and non-basmati rice at Rs6,613 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The export of bovine meat increased by 20% — from Rs8,565 crore in 2023-24 to Rs10,300 crore in 2024-25. The export of fresh fruits also registered a 17% rise, from Rs8,100 crore in 2023-24 to Rs9,500 crore in 2024-25. The export of fresh fruits in 2024-25 includes bananas (Rs2,839 crore), grapes (Rs2,781 crore), pomegranates (Rs371 crore), and others (Rs3,405 crore). Interestingly, exports of other fruits increased by 32% to Rs3,405 crore in 2024-25 as against Rs2,566 crore in the previous year. Other exports include pulses at Rs2,100 crore, cereal preparations at Rs2,093.43 crore, jaggery and confectionery at Rs1,620 crore, onions at Rs1,436 crore, and alcoholic beverages at Rs1,353.52 crore. Vice-president of Horticultural Produce Exporters' Association (HPEA) Vikash Singh said the rise in export is because of the incentives being given by the Centre and state in the food sector. "There is huge potential for export of bananas, and govt needs to focus on increasing its export," he said. "The APEDA has been taking measures to boost export of grapes for the past decade, particularly in European countries, and this is showing results. Just like grapes, the APEDA also needs to find new markets to increase the export of onions, particularly in European countries," he added. Singh further said the Centre should also provide green lanes at the JNPT Mumbai for containers of perishable goods for faster clearance. "In 2014, the Centre had made an announcement about a separate green lane for faster clearance for containers of perishable goods, but it is yet to be executed," he said. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Borneo Post
22-05-2025
- Business
- Borneo Post
Decent start to Sarawak Plantation's year
Sarawak Plantation's commendable results were mainly boosted by an increase in CPO prices and FFB production. KUCHING (May 22): Excluding the gain on the fair value of biological assets (RM4 million) and minority interests (RM0.3 million), Sarawak Plantation Bhd (Sarawak Plantation) kicked off its first quarter of financial year 2025 (1QFY25) with core earnings of RM17.2 million, accounting for 21 per cent of the street's full-year expectations. Analysts said the commendable results were mainly boosted by an increase in crude palm oil (CPO) prices and fresh fruit bunch (FFB) production. The team with Public Investment Bank Bhd (PublicInvest Research) saw that Sarawak Plantation's topline improved from RM127.3 million to RM135.5 million, on the back of stronger CPO prices and increased FFB production. Meanwhile, 1QFY25 FFB production climbed 6.1 per cent year on year (y-o-y) to 73,940 metric tonnes (MT) while third-party purchase FFB tumbled 28.7 per cent to 54,129MT. Its 1QFY25 average CPO price surged from RM3,898 per MT to RM4,728 per MT while average palm kernel price jumped from RM2,062 per MT to RM3,451 per MT. '1QFY25 FFB yield improved from 3.31MT per hectare (MT/ha) to 3.74MT/ha while its oil extraction rate (OER) slipped from 19.77 per cent to 19.05 per cent. 'This was dragged by lower FFB processed; lower oil content; and prolonged wet period that affected the transportation activities.' The weather has normalised since April, leading to a strong production recovery in northern and central Sarawak regions. PublicInvest Research expects Sarawak Plantation's production to peak in August compared to the usual October/November period. Meanwhile, management has lowered its FFB production target by five per cent to 400,000MT to reflect the weaker-than-expected production in the beginning of the year. It has retained its replanting target of 2,800ha for this year. There is no new planting activity being carried out. As of March-2025, mature area stood at 20,000ha while the immature area totaled 7,700ha. There is a plantable area of 2,000ha Average age profile stood at nine years. Due to the persistent rainfall, the first round of fertiliser application only achieved 66 per cent. Meanwhile, the outstanding encumbered area stays around 2,000ha while there is no enhancement area. It is worth noting that there is a new recruitment fee introduced by Sarawak state government with the one-off charge of RM1,800 per worker for the permit application starting this year, which could see a negligible financial impact on the company bottom line. 'The company has no forward sales policy in place, hence, we expect the realized CPO prices for the coming quarters to reflect the prevailing levels of less than RM4,000 per MT. 'Lastly, management has allocated capex of RM56 million with RM42 million set aside for replanting and the remaining RM14 million for mill upgrades and maintenance.' CPO first quarter palm oil Sarawak Plantation
New Straits Times
15-05-2025
- Business
- New Straits Times
Palm oil tracks down weaker related oils on Dalian, Chicago
JAKARTA: Malaysian palm oil futures dropped on Thursday, weighed by weakness in vegetable oils in the Chicago and Dalian commodity exchange after four consecutive session of gains. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange lost RM25 or 0.64 per cent to RM3,898 (US$908.41) a metric ton in early trade. FUNDAMENTALS Dalian's most-active soyoil contract was down 0.48 per cent, while its palm oil contract for June delivery lost 0.32 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) plunged 4.44 per cent. Palm oil tracks prices of rival edible oils as it competes for a share of the global vegetable oils market. Indonesia will raise its crude palm oil (CPO) export levy starting May 17 to 10 per cent of its CPO reference price from 7.5 per cent currently, in order to finance the country's increased biodiesel blending mandate. India's vegetable oil imports in April plunged to their lowest in over four years, led by declines in palm oil imports, dragging inventories to their lowest in nearly five years, a leading industry body said. Argentina's Rosario grains exchange on Wednesday raised its estimate for the country's 2024/25 soybean production to 48.5 million metric tons from previously 45.5 million tons. Oil prices lost nearly US$1 in early trade on Thursday on expectations of a potential US-Iran nuclear deal, while an unexpected build in US crude oil inventories last week heightened investor concerns about oversupply. Palm oil FCPOc3 may retest support at RM3,921 per metric ton, a break below which could trigger a fall into the RM3,871 to RM3,887 range. Stocks struggled for direction on Thursday while the dollar stumbled as the euphoria from market tailwinds earlier in the week fizzled out, with traders looking to US data later in the day for further catalysts.
