Page 195 - Commodity News

Commodity Picks: 13 April, 2020

For the week ahead, the palm oil prices are expected to head towards Rs 680 per 10 kg

Plantations stare at huge losses with few hands to harvest standing crops

chronic shortage of rubber could impact the manufature of medical gloves, catheters and masks that are crucial in the battle against Covid-19

Basmati prices up 5% during 21-day lockdown even as exports take a huge hit

Exporters, however, are a worried lot as Iran, the top market for Indian basmati, is among the most-affected by the Covid-19 pandemic

Brent can jump to $40 by 2020-end; India should stockpile crude oil now

While India will fill its caverns with crude, the lack of space means it's also an opportunity lost.

With no one to take them to mandis, most farm commodities fall below MSP

Labour shortage, transport issues and mandi closure disrupt supply. A large part of the crop hasn't been harvested and risks rotting away

OPEC+ likely to cut oil production only if US joins efforts: Report

Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply.

Exhausting product tankage not a cause of concern yet, say oil executives

Most do not expect refinery shutdowns even if lockdown extends

Seeking to halt free fall, Saudi delays May prices, looks to OPEC meeting

On Friday, Brent crude futures settled at $34.11 a barrel; in early Asia trading, prices fell to $32 a barrel, while US WeWTI) crude CLc1 fell to $ 26.15 a barrel on Sunday.

Commodity picks: 6 April, 2020

Though domestic demand is need based, supply scenario is extremely tight due to logistic bottlenecks amid slowdown in transport

Crude jumps 26% on MCX, bullion gains on hope of end to Saudi-Russia rift

The two nations are meeting next week to work out a possible output cut

Oil posts biggest one-day gains after Trump touts Saudi-Russia deal

Trump did not specify barrels per day (bpd), though the market expresses demand and supply in those terms

Covid-19: Supply of pulses to ease soon as Nafed ties up with dal mills

Nafed will supply the mills whole grains for processing and will get the processed dal for the government's planned distribution under PDS

Coronavirus keeps seafood exporters in a bind with no fresh orders

Shipments to the US, India's largest market for marine food, are down by over 50% since the outbreak of Covid-19 and the consequent lockdown

Malaysian palm oil down 1.03% on heightened concerns over demand

The contract marked its third session of losses on Thursday

Covid-19: Edible oil refineries halve operating capacity over seed shortage

Delay in import clearance also drives curtailment

Oil ends lower after US crude stockpiles jump, gasoline demand sinks

The market has slumped on the sharp fall in demand because of the coronavirus pandemic and rising output from Saudi Arabia and Russia after a supply pact collapsed last month

Gold imports in FY20 fell to a decade low, March saw 75% decline

Demand slowdown seen next year as well; no immediate uptick seen post lifting of lockdown

Covid-19 lockdown: Vegetable, grain mandis coming back on track gradually

Most mandis are arranging for the safety of their workers, including load-bearers. Arrivals and supplies are being regulated to maintain flow and avoid crowding

Gems and jewellery exports expected to witness a sharp decline in Q1FY21

The gems and jewellery industry continued to face hurdles in the form of high custom duty on key commodities

Edible oil demand to decline during March-April due to Covid-19 lockdown

Hotel, Restaurants and Cafeterias (HoReCa) segment accounts for 40 per cent of the country's total edible oil demand at 230 lakh tonnes annually