Page 199 - Commodity News

Onion jumps 30% to hit a two-week high as export curbs are lifted

Exporters resume business immediately after Paswan's Wednesday tweet announcing the decision

To curb price volatility, early warning system developed for onion, potato

Alerts from the portal will help the govt take timely market intervention under the central scheme 'Operation Greens' by providing subsidy to farmers for storage and transportation of the produce

Govt to lift ban on onion exports as prices likely to fall sharply

Sources said the decision was taken at a meeting of a Group of Ministers (GoM) headed by Home Minister Amit Shah

Jewellery exporters contact mines to directly supply rough diamonds to SMEs

Leading global diamond miner De Beers, which contributes nearly 20% of global rough diamond supply, normally, allocates rough diamonds to pre-selected large processors across the world

India's import of US oil jumps 10-fold to 250,000 bpd: US Energy Secretary

India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations

Consumers stay away from fresh buying despite 0.5% correction in gold price

Investors book profits amid fears that a large sell-off in equities will have a spillover effect on a safe-haven asset like bullion

Gold retreats from 7-year high, but coronavirus fears limit losses

On Monday, the metal rose as much as 2.8% to $1,688.66, its highest since January 2013

Centre reallocates unused sugar export quotas to boost shipments

To reduce that debt and pare rising inventories, New Delhi has approved a subsidy of Rs 10,448 ($145) a tonne for exports of 6 million tonnes in the 2019/20 season.

Coronavirus scare: Refiners to get rare oil cheap as demand slows in China

Refiners in India, the world's third-biggest oil importer, rarely get the opportunity to buy suitable grades from areas like the Mediterranean and Latin America because of higher freight rates.

Crude oil prices likely to face resistance at $58/bbl on coronavirus fears

The OPEC+ nations have agreed to cut crude oil production by further 0.6 mbpd

Coal imports at 12 major ports down 15% to 75 MT in April-Jan: Report

Imports of coking and other coal recorded a rise of 1.10 per cent at 47.08 MT during the period

Apeda blacklists basmati rice brands Mohsen and Avazah over defaults

Agency will not issue requisite certificate clearing exports under these two labels, due to persistent non-payment by Gulf importers for consignments shipped from Indian shores

Coronavirus outbreak: Subdued crude oil prices to help HPCL, other OMCs

IOC and BPCL to also gain from lower working capital requirement and firm marketing margins, but weak GRMs may limit the upside

AUM for gold ETFs up 30% in one year as investors rekindle interest

Hopes of further gains in the price of the previous metal could sustain inflows into gold ETFs

Government tweaks guidelines to ensure sugar exports meet the target

ISMA and traders have estimated that exports would be about 5 million tonnes (mt) this season, against 6 mt of MAEQs issued by the government

India to harvest record wheat production of 106.21 MT in 2019-20: Report

Wheat is the main rabi crop, harvesting of which will begin from next month

Gold up Rs 239 to Rs 41,865 per 10 gram on global cues, rupee depreciation

Silver prices also jumped Rs 296 to Rs 47,584 per kg from Rs 47,288 per kg on Monday

Coronavirus effect: Shrimp exports to decline on weakening global demand

Domestic production is estimated at over 1 million tonnes. Its sizeable shrimp consumption makes China a key price-mover in the global markets

Silver demand and import in India decline, but price outlook bullish

India's demand has been muted especially since import duty was raised to 12.5 per cent last July

Sebi board allows non-bank custodians to manage gold products

The board decided to bring amendments to the SEBI (Mutual Funds) Regulations, 1996, in this regard