Page 236 - Commodity News

Gold prices gain on a dip in Asian equities, global economic slowdown fears

The dollar index was hovering about a one-week peak

Tea likely to fetch higher prices in 2019 auctions on output shortfall

According to the Indian Tea Association, production was down by 13 million kg during January-October last year

Milk prices likely to climb after a long lull, may rise by Rs 2-4 a litre

Prices of milk and derivatives such as cheese, butter, curd and skimmed milk powder (SMP) were subdued for two years, on a supply surplus

Sugarcane arrears touch Rs 6,500 cr on global market glut, export woes

UP alone accounts for Rs 4,000 crore of arrears comprising almost Rs 2,000 crore and Rs 4,000 crore for the 2017-18 and 2018-19 seasons

India cuts tax on crude and refined palm oil imports; Malaysia to gain most

Duty on crude palm oil lowered to 40% from 44%, and a tax on the refined variety cut to 50% from 54%

New US norms on seafood imports may cool demand for Indian shrimps: Icra

The US is a major market for India's seafood exports and is valued at $7 billion

Onion price slump adds to farm distress, sharpens Modi's election stakes

A growing disenchantment with the faltering profitability of farming has emerged as a political variable. But how much of a risk does it pose to the government?

Gold ends 2018 on a strong note as growth concerns spur demand for haven

December's rally has pared an annual decline, the first full-year loss since 2015

Metals may recover on positive oil demand-supply equation in 2019: Experts

Iron ore and steel have headwinds, which may keep the commodities under pressure

After staying range-bound, gold likely to trade with an upward bias in 2019

The rise in initial quarters may see bumps

Commerce ministry favours hiking import duty on aluminium: Suresh Prabhu

The industry has demanded increase in import duties on aluminium scrap and primary aluminium amid a high growth in inward shipments of these items

Tea Board plans minimum benchmark auction prices as growers stare at losses

Rising labour costs and muted auction prices have meant that some tea growers are not able to even cover their minimum production cost

Maharashtra lures textile units facing in problems from Karnataka, TN

State seeks make Solapur a major textile hub, is holding three-day fair in Bengaluru to rope in investors, offers cheaper power to units set up on its territory

Govt mulls IGPC's gold investment product entailing deferred dollar outflow

The investor gains as he pays no taxes at the point of investment in a forward contract; the bank gets access to cheap funds which it can use to lend onward

Oil prices likely to gain early 2019 after production cuts: OPEC ministers

Oil prices have shed more than 36 per cent since early October to trade at $54 (47 euros) per barrel, due to fears of oversupply and weak global demand.

Commodity picks: 24 December, 2018

Jeera is trading at Rs 18,736 per quintal in Unjha

Gold posts second weekly loss, falls by Rs 90; silver plunges Rs 600

Globally, gold traded lower by 0.33% at $1,256.20 an ounce and silver was down by 1.02% at $14.69 an ounce in New York

2018: A year of raw material scarcity, insolvency glut for Steel industry

The government has fixed a target to ramp up the country's crude steel production to 300 million tonnes (MT) by 2030

Rs 1,500-mn onion relief package to benefit 300,000 farmers in Maharashtra

The realisation on the sale of onion is about Rs 2 a kg, which is way below the cost of production of Rs 5

Falling crude oil price to boost margins of synthetic textile manufacturers

Volatility in six months distorted business strategy, margins to improve post March quarter