Page 201 - Commodity News

Copper, paperboard, RBD imports to decline on stringent 'rules of origin'

In Budget 2020, FM emphasised the need to strengthen 'rules of origin' under the FTA to curb import from non-producing (trading) countries

India's January gold imports plunge 48% to four-month low: Report

The world's second-biggest buyer of gold imported 36.26 tonnes in January, compared with 69.51 tonnes a year earlier, the source said on condition of anonymity

Businesses pitch for gold import as Budget proposes bullion exchange

The exchange at the international financial services centre (IFSC) will be an additional option for trade for global market participants, says Budget 2020.

India raises import tax on crude palm oil to 44% from 37.5% earlier

The hike in import duty on palm oil could prompt buyers to increase purchases of rival edible oils such as soya oil and sunflower oil, traders said

Coronavirus: Spurt in fertiliser import costs seen due to plant closure

Exporters not to worried for now, say concerns may kick in only if virus spread isn't controlled; leather sector stand to gain.

Budget 2020: Aluminium industry seeks lower import duty on raw materials

AAI said Indian aluminium industry is under immense threat and struggling to retain global competitiveness

Gold demand in India down 18% in Q3; revival hinges on Budget measures

This quarter was crucial because of a fall in demand in the Diwali days in the year-ago equivalent period. However, that failed to boost numbers because of high prices, weak consumer sentiment

Global oil demand could nearly halve if coronavirus threat escalates

The outbreak comes at a time when geopolitical risks to oil supply are likely to remain elevated in 2020, as both the US and Iran continue their maximum pressure campaigns

India, China account for 80% drop in gold jewellery demand in Dec quarter

WGC estimates the total fourth quarter demand for gold at 1,045.2 tonnes - a drop of 19 per cent year-on-year

India's gold demand expected to rebound from 3 year low: World Gold Council

As Indian gold prices jumped 25% in 2019, hitting a record high, consumption fell 9% from the previous year to 690.4 tonnes, the lowest since 2016, the WGC said

Crude oil prices fall as coronavirus death toll climbs, US inventories grow

WHO's Emergency Committee is set for another meeting later on Thursday to reconsider whether the rapid spread of the virus should now be called a global emergency.

Coronavirus prompts India's top cotton trader to stop sales to China

Kotak Commodity Services will look for new buyers of cotton in countries such as Bangladesh, Indonesia, Taiwan and Vietnam to make up for any possible shortfall in sales to China

Promoters of textile firms increase stake on demand recovery expectations

India has become competitive in both polyester yarn and fabric businesses in the last couple of quarters

Coronavirus spreads to industrial commodities, prices decline by up to 9%

Base metals, energy, rubber and silver decline on weak demand following extended Chinese new year holiday

Oil rises for second day as investors take stock of hit from coronavirus

Brent crude rose 33 cents, or 0.6%, to $59.84 a barrel by 0103 GMT, while US crude was up 31 cents, or 0.6%, at $53.79 a barrel.

Onion prices slip 40% in a week on increased supply across the country

Data from the Nashik-based National Horticultural Research and Development Foundation showed onion was trading at at Rs 24 a kg on Tuesday in the benchmark Lasalgaon mandi in Nashik district

Amid Coronavirus scare, Gold eases off 3-week peak as equities gain ground

European markets rebounded early after the previous day's thumping, while the U.S. dollar rose to a near two-month high

Wheat output in India is likely to hit a record high this year: NCML data

Data compiled by National Collateral Management Services (NCML, a non-government body) shows a 6.3 per cent rise to 109 million tonnes

Gold surges by Rs 300, silver gains Rs 370

Bullion dealers said the trading sentiment was bullish, amid hectic buying for the ongoing festive and marriage season.

Govt expects onion output to rise 7%; sees fall in fruits, spice production

Consequently, production of onion -- the key kitchen staple -- is estimated to increase to 24.45 million tonne this year from 22.81 million tonnes in the 2018-19 crop year.