Page 176 - Commodity News
Bulk tea industry sees rise in consumption, price despite Covid-19: Report
Despite the Covid-19 pandemic that has created a demand-supply mismatch, the bulk tea industry has witnessed a sharp increase in both consumption as well as prices, according to a report
 "Bulk tea industry sees rise in consumption, price despite Covid-19: Report")
India's African oil imports hit 10-month high in August: Shipping data
India's oil imports from Africa jumped to their highest in 10 months in August as refiners switched out more expensive crude from the Middle East, shipping data shows
 "India's African oil imports hit 10-month high in August: Shipping data")
Gold price today at Rs 55,030 per 10 gm, silver jumps to Rs 69,500 a kg
In New Delhi, the price of 22-carat gold remained at Rs 50,450 per 10 gm, and in Chennai, it jumped to Rs 49,520
 "Gold price today at Rs 55,030 per 10 gm, silver jumps to Rs 69,500 a kg")
Sugar mills owe nearly Rs 13,000 cr for FY20 season to cane farmers: Govt
Sugar mills owed nearly Rs 13,000 crore to cane farmers as on September 11 for the crop procured during 2019-20 marketing season that started October last year, Parliament was informed on Tuesday
 "Sugar mills owe nearly Rs 13,000 cr for FY20 season to cane farmers: Govt")
3 committees set up to suggest ways to boost food, beverage exports: TPCI
TPCI said it has set up three committees that will submit detailed recommendations to the government to boost exports of food, chemicals, food processing and beverages
 "3 committees set up to suggest ways to boost food, beverage exports: TPCI")
Gold price today at Rs 54,540 per 10 gm, silver trending at Rs 68,300 a kg
In New Delhi, the price of 22-carat gold remained at Rs 50,000 per 10 gm, and in Chennai, it jumped to Rs 49,070
 "Gold price today at Rs 54,540 per 10 gm, silver trending at Rs 68,300 a kg")
BP says era of oil-demand growth over, may not return to pre-Covid levels
The UK giant is describing a different future, where oil's supremacy is challenged, and ultimately fades
 "BP says era of oil-demand growth over, may not return to pre-Covid levels")
Rocky road back to pre-Covid demand levels for gasoline, diesel: Executives
Global gasoline and diesel demand is expected to return to pre-pandemic levels by 2021-end, although a resurgence in Covid-19 cases would keep consumption fluctuating, several industry executives said
 "Rocky road back to pre-Covid demand levels for gasoline, diesel: Executives")
India's oil import bill dips by two-third on fall in global prices: Pradhan
India's crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on demand evaporating, Petroleum Minister Dharmendra Pradhan said
 "India's oil import bill dips by two-third on fall in global prices: Pradhan")
Gold price today at Rs 54,390 per 10 gm, silver trends at Rs 67,900 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,860 per 10 gm, and in Chennai, it jumped to Rs 48,910
Commodity picks: 14 September, 2020
Soybean is trading at Rs 3,835 per quintal at the benchmark Indore market; The cotton price of benchmark variety S6 is at around Rs 17,000 per bale
 "Commodity picks: 14 September, 2020")
Global LNG demand to rise for few decades, Covid a temporary blip: industry
Demand for liquefied natural gas is set to increase steadily for several decades helped by economic growth in Asia, industry executives said, with Covid-19 pandemic seen as only a short-term setback
 "Global LNG demand to rise for few decades, Covid a temporary blip: industry")
India's August palm oil imports drop 14% as Covid hit demand: Trade group
India's palm oil imports in August dropped 13.9% from a year earlier to 734,351 tonnes, a leading trade body said, due to a sluggish recovery in demand as local coronavirus cases continued to rise
 "India's August palm oil imports drop 14% as Covid hit demand: Trade group")
Gold price today at Rs 54,820 per 10 gm, silver climbs to Rs 68,560 a kg
In New Delhi, the price of 22-carat gold remained at Rs 50,250 per 10 gm, and in Chennai, it jumped to Rs 49,250
 "Gold price today at Rs 54,820 per 10 gm, silver climbs to Rs 68,560 a kg")
Gold price today at Rs 54,600 per 10 gm, silver slides to Rs 67,900 a kg
In New Delhi, the price of 22-carat gold remained at Rs 50,050 per 10 gm, and in Chennai, it jumped to Rs 49,090
Oil market's reliance on China shows narrowing options
Platts Analytics sees oil prices struggling to go beyond the mid-$40s/bbl mark by the end of calendar year 2020 (CY20) before creeping up to $50/b by end-2021
 "Oil market's reliance on China shows narrowing options")
Gold price today at Rs 54,310 per 10 gm, silver slides to Rs 68,000 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,800 per 10 gm, and in Chennai, it jumped to Rs 48,850
Ferrous, non-ferrous firms will have to iron out loan-rejig challenges
The committee has identified five key ratios with different limits across sectors
 "Ferrous, non-ferrous firms will have to iron out loan-rejig challenges")
Gold price today at Rs 54,160 per 10 gm, silver trends at Rs 68,100 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,650 per 10 g, and in Chennai, it jumped to Rs 48,850
Gold price today at Rs 54,120 per 10 gm, silver trends at Rs 67,210 a kg
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges