Page 220 - Commodity News

Palm oil hits fresh 6-month high on lower output forecast

Data released by a state millers association earlier this week showed slower output growth for the first 20 days of August compared with a month earlier

Ministry of Mines stays cancellation of NMDC lease for Donimalai mine

NMDC and the state administration got into a legal battle over Donimalai after the state government decided to levy a premium on the iron ore extracted from the mine

India's July petrol imports hit highest level in 8 years at 230,000 tonnes

India's imports of crude oil have stalled in recent months, with both coal and liquefied natural gas also soft

Onion prices rise by up to 76% on reduced supply from flood-hit states

Government vigilant, considering MEP to control exports

Gold prices soar to new high of Rs 38,820; silver jumps by Rs 1,140

Traders attributed the gain in gold to increase in the domestic spot market demand

Centre revives plan to make hallmarking of gold jewellery mandatory

Bureau of Indian Standards (BIS) Director General Surina Rajan, however, assured the jewellery traders that the process would be done in consultation with all stakeholders

Amul ramps up milk supply to Maharashtra to bridge deficit after floods

About 1,000 animals washed away in floods; govt to spend Rs 1,000 crore on restoration

Flagging consumption and import surge hurt India's aluminium producers

Sales of aluminium companies fell by 10.8 per cent in the period as imports lead market.

Bleak outlook for jewellers as record prices, fading demand hit gold sales

India's consumption of gold has been affected by the government's efforts to curb its trade deficit and measures to discourage investors who used the metal to evade taxes

GSP withdrawal: Plastic exporters explore new markets to keep ball rolling

Eye huge markets in CIS nations, Africa and Latin America, where Indian exports have a negligible presence

Commodity picks: 19 August, 2019

Soy bean prices at the benchmark Indore markets are trading at Rs 3,740 per quintal

How a glut in diamonds is taking a toll on an already embattled industry

The blossoming popularity of lab-grown diamonds - and production in China and India - is another potential headwind for miners of natural gems

Analysts fear massive pull back in gold after sharp rally past five months

The current rally in the yellow metal is without real demand from Indians

WDRA, Sebi working on norms to regulate non-agri commodities warehouses

Sebi is co-ordinating with the WRDA to expedite the regulations for warehouses storing non-agri commodities

WTO panels to rule on complaints against India's sugar export subsidies

India will keep its sugar export subsidies despite complaints to the WTO from rival producers.

Oil falls 3% to below $58 a barrel as recession worries weigh on prices

Global benchmark Brent crude fell as much as $1.81, or 3%, to $57.67 a barrel and by 1117 GMT was down $1.57 at $57.91. U.S. crude fell $1.03 to $54.20

Consumers defer old gold sales on hopes of further rise in prices

Safe-haven buying of the metal has seen prices hitting a seven-year high in the international market and a life-time high in India

Gold prices likely to remain firm amid weak growth, soft rates

In India, a sharp fall in the equity market amid a slowing economy, subdued corporate earnings and an overall risk-averse sentiment have seen investors flock to the yellow metal

Plan for gold spot exchange picks up pace; govt approval awaited

The exchange is envisaged as connecting all stakeholders - jewellers, bullion dealers, gold refineries and consumers

Silver at three-year high, hits Rs 44,000 a kg in Mumbai's spot market

The metal was a laggard for some time but it seems to have bounced back, with short positions in international exchanges getting covered