India's wheat production may cross 90 million tonnes (mt), an all-time high, in the 2011-12 crop year surpassing the earlier estimate on the back of favourable weather condition, a top agriculture ministry official said. According to the second advance estimates for the 2011-12 crop year (July-June), wheat production is estimated at record 88.31 mt. The expected rise in production could lead to an increase in the foodgrain production in 2011-12 crop year.

Wheat output may cross 90 mt

Press Trust of India

With an estimated seven per cent increase in domestic milk production this year, availability of milk and dairy products has improved. The improved supply, driven by higher production, has led to a fall in domestic prices of dairy products like skimmed milk powder (SMP) and butter oil (ghee).

High milk production weighs on product prices

Business Standard

Coal production in the country slumped to 413.9 million tonnes (mt) in the current financial year up to January, compared to 424.5 mt in the year-ago period, the government said on Wednesday. The fall in production comes at a time when acute fuel shortage is hurting the power sector. Minister of state for coal Pratik Prakashbapu Patil while replying to a written question in Lok Sabha attributed the shortfall in coal production to delay in clearances from the ministry of environment and forests and excessive rainfall among others.

Coal output falls to nearly 414 mt

With food inflation falling to single digit, the department of consumer affairs is making a renewed effort to get the amendments to the Forward Contracts Regulation Act (FCRA) passed in the current Budget session of Parliament.

Ministry gives fresh push to amendments in FCRA

A severe and abnormal rainless weather condition has hit hard Assam tea industry as production of green leaf is expected to be down by 20 per cent across the state till April, with the worst affected is the Brahmaputra Valley. The unfavourable weather has delayed the arrival of first flush (production till April), triggering fears of upping of prices at auction centres.

Tea production in Assam down by 20%

Oil prices fell on Wednesday as US and some European governments mulled the release of strategic oil reserves, while commodity-related shares weighed on global equities.

Oil tumbles on reserve talks, global stocks follow

Reuters 

Nickel futures today moved up by 0.22% to Rs 928.90 per kg, amid a firming trend in base metals overseas.

Nickel up on global cues, spot demand

Cardamom prices were up by Rs 6.30 to Rs 1163.90 per kg in futures trade today as speculators created fresh positions amid a firming trend at spot markets.

Cardamom up on spot demand

Wheat futures fell by another Rs 16 to Rs 1,265 per quintal as speculators reduced their positions amid expectations of a higher output this year.

Wheat down 1.25% on hopes of higher output

Potato prices recovered by Rs 18.60 to Rs 1,350 per quintal in futures market today after speculators created fresh positions driven by rising demand in the spot market.

Potato rises on spot demand

The government&rsquo;s programme for five per cent mandatory blending of ethanol with petrol could receive a setback thanks to large-scale diversion of ethanol by sugar mills for producing industrial and portable alcohol.

Question mark over petrol-ethanol blending

The government is examining a proposal to ban futures trading in mustard seed and gram (chana) due to sharp increase in prices. A senior consumer affairs ministry official said, &ldquo;We are monitoring the price movements of these two items that have risen sharply in the past few months.

Govt mulls ban on mustard seed, gram futures

Amid profit-booking at higher levels and a weak trend in spot market on sluggish demand, mentha oil prices plunged by Rs 50.50 to Rs 2,227.80 per kg in futures market today.

Mentha oil plunges over 2% on profit-booking

Cardamom prices rose further by Rs 7 to Rs 1,143.70 per kg in futures trade today, extending yesterday's gains as speculators enlarged their positions, supported by pick up in demand in the spot market.

Cardamom extends gains on spot demand

Lead prices edged up 0.20% in futures trade today after speculators created fresh positions amid a firm trend in base metals at the London Metal Exchange (LME).

Lead gains 0.2% on global cues

Chana prices fell 1.79% to Rs 3,679 per quintal in futures trade today as speculators off-loaded positions after the authorities imposed a special deposit margin of 10% to curb rising prices.

Chana down 1.8% as exchange imposes special margin

Crude palm oil prices remained weak for the second straight day with prices falling by Rs 3 per 10 kg in futures trading today on sluggish demand against adequate stocks position.

Crude palm oil remains weak on sluggish demand

Mustardseed prices tumbled by Rs 109 to Rs 3,936 per quintal in futures trading today on reduced offtake by speculators after imposition of special margins by the authorities.

Mustardseed plunges on special margins

Taking positive cues from overseas markets and pick-up in spot demand, zinc prices rose by 0.24% to Rs 102.80 per kg in futures trade today.

Zinc marginally up in range-bound movements

The country's gold imports rose by 14% during 2010-11 fiscal at 969.73 tonne, Parliament was informed today.

Gold imports up by 14% in FY11 at 970 tonne

The strike by bullion traders and jewellers to protest the proposed increase in import duty on gold and imposition of excise duty on unbranded jewellery entered the 14th day today.

Jewellers strike enters 14th day

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