Page 229 - Commodity News

Oil gains over 1% as Saudi stands by OPEC output cuts, US drilling drops

OPEC is expected to review global oil demand and supply balance as the group maintains production cuts during the April meeting, a senior Gulf oil official said on Monday

IEA sees US driving global oil supply growth over the next five years

Global oil demand growth is set to ease as China slows, but will still rise by an annual average of 1.2 million bpd to 2024

Commodity picks: March 11, 2019

Castor seed prices at Deesa market are expected to trade higher towards Rs 5,202 per quintal this week

UAE to continue oil supply cuts till market is re-balanced: Energy minister

Opec along with major non-Opec producers such as Russia have pledged to reduce their oil production to cut into a supply glut

Indian gold flips to premium as demand picks up pace in major Asian hubs

In India dealers were charging a premium of up to $1 an ounce over official domestic prices this week, up from last week's discount of up to $2

Bull-run in gold coming; watch out for $1,400/oz level: CLSA's Chris Wood

Flows into gold ETFs (exchange-traded funds) have also started to gather steam

Are gold prices reversing? Fell 5.2% in a fortnight from all time high

There is also a buzz in the market that the comprehensive gold policy is ready and center may announce it soon

Why India's upcoming general election is good news for the oil market

Election campaigning will boost fuel use in a nation where oil demand is already growing at the fastest pace in the world

Sugar price declines steadily to nullify a part of govt boosters

Sugar has shed 3% over the past two weeks, since the govt announced the highest ever monthly quota release of 2.45 million tonnes for March

India to get first jewellery park set on 21 acres at Navi Mumbai on Tuesday

Commerce minister Suresh Prabhu lays the foundation, operations to start shortly; park will accommodate 4,800 units; small businesses to have equal say in the functioning

India's coffee exports up 13% to 48,330 tonnes in first two-months of 2019

Italy, Germany and Russia were the major export destinations for Indian coffee during the period

Commodity Picks: 4 March, 2019

Jeera prices are expected to trade lower towards Rs 16,000 per quintal for the next couple of weeks

Gold price slips to breach psychological barriers, reduces buying appeal

Sentiment looks positive with dollar index and equity markets rising

Russia cuts oil output further in February to comply with Opec pact

The nation curtailed its January supply by about 47,000 barrels a day from the baseline, according to the Energy Ministry

Turmeric prices crash after bumper harvest; furious farmers stage protests

This year's turmeric production has touched 7 million bags, up from 6 million bags in 2018, farmers and traders said

Demand for higher steel grades to fuel imports in 2019: CARE Ratings

CARE report says domestic consumption may rise 5.5-7.5 per cent

India's import of paper declines 25% in first three quarters of FY19

The sharp decline in import is set to help domestic paper mills further increase prices of their products ahead of the ensuing academic year

Domestic steel firms set to hike prices by Rs 1,000 a tonne from March 1

Producers have raised product rates by Rs 1,750 per tonne in February

Jute workers' call for indefinite strike from March 1 stokes supply fears

The strike comes at a critical juncture when concerns are mounting on supply of B Twill jute bags used for packing food grains and sugar

Commodity Picks: 25 February, 2019

Soy bean is trading at Rs 3,845 per quintal in Indore