Page 204 - Commodity News

OMCs say spike in oil prices a temporary phase as US-Iran lock horns

Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani

Gold zooms to Rs 40,652 per 10 gm on strong global trends, weak rupee

Similarly, silver prices also jumped Rs 960 to Rs 48,870 per kg from Rs 47,910 per kg in the previous trade

India 2019 gold imports hit 3-yr low as record high prices dent demand

Lower buying by the world's second biggest consumer of the precious metal could weigh on global prices that jumped 18% in 2019

Commodity outlook by Tradebulls Securities: Buy Silver, Natural Gas

For the second time, most of the analysts think silver should rally as silver is undervalued compared to other precious metals like gold, platinum, and palladium.

Steel producers raise prices by Rs 1,000-1,500 a tonne as demand perks up

India's iron ore imports tumbled 90 per cent year-on-year during April-October, after a sharp escalation of 172 per cent in the comparable period last year, said CARE Ratings in its report

Buoyed by signs of improving trade relations, oil starts 2020 on a high

Oil was also boosted by optimism that trade talks between the world's two largest economies will support demand

Gold, silver prices rise marginally as rupee falls 11 paise against dollar

Silver prices also gained by Rs 21 to Rs 47,781 per kg, compared to Rs 47,760 per kg in the previous trade

India's sugar output down 30.22% in Oct-Dec 2019; prices stable: ISMA

Ex-mill sugar prices have remained steady in the range of Rs 3,250-3,350 per quintal in north India and at Rs 3,100-3,250 per quintal in the south India, the industry body added

Gold imports dip 7% in Apr-Nov to $20 bn, jewellery exports down 1.5%

The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period

Poultry, mutton prices up 20% over sudden increase in winter demand

Mutton is retailing here at Rs 600 a kg, from Rs 500 a kg about a month before. That of broiler chicken is Rs 150-160 a kg, as compared to Rs 130 a kg earlier

Unchecked flow of Nepal tea into India takes toll on Darjeeling variant

Most of the tea from Nepal is uncertified with no pesticide and residue declaration while 70 per cent of the 87 estates in Darjeeling are certified organic

Jewellery demand expected to fall by 6-8% over high gold prices: Report

Being a price-sensitive market, inflation in gold prices affect consumer sentiments and results in postponement of purchases by customers

Consumers defer fresh purchases as gold hits all-time high on global cues

The metal has risen by as much as 24% in 2019, while silver is up 22%

Mandatory hallmarking of gold jewellery: Lack of awareness remains a hurdle

Estimates regarding the number of jewellers and ornaments being hallmarked at present are varied

Farmers across India move online, earn over 15% more for their produce

Apart from higher earning, the elimination of the middleman and commissioning agent has helped them get instant cash for their produce

Year in review: Gold ends 2019 on shiny note; may hit Rs 45,000 in 2020

Data from the World Gold Council shows that 14 central banks, including the RBI, have reportedly added more than one tonne to their reserve.

Oil regulator to rationalise gas pipeline tariff by aligning transport cost

In the tender inviting bids, it said the consultant will also review current regulations and draft of new proposed regulations

Tea plantation companies bring focus back to quality to improve margins

Quality has been the major impediment for the plantation companies to keep pace with rising input costs vis-a-vis price realisations

Onion continues burning pockets at Rs 150 per kg, imported supplies arrive

In metros, retail price of onion was ruling at Rs 120 /kg Kolkata, at Rs 102/kg in Delhi and Mumbai and at Rs 80/kg in Chennai, as per the data maintained by the consumer affairs ministry

'Cane is king', say sugar traders as India is set to roil the market again

Sugar output in the country is expected to bounce back in 2020-21