The output this year may exceed the 84 mt target by 3 mt in the ongoing rabi season, believe scientists.

Wheat does not catch cold in the North bumper crop expected

Business Standard

The government has decided to come up with a formal indicative benchmark price for palm oil and jatropha, in order to curb the rising import bill on account of edible oil.

Benchmark price on anvil for palm oil, jatropha

The iron ore dynamics in India have reversed in the last one year. From a huge surplus until last year, the country has slipped into deficit, thanks to a stern action taken by the government to nab illegal miners. Shutting down of operations by miners amid threat of government actions has seen a massive cut in iron ore supply, forcing steel mills to look for alternative sources of raw materials.

Iron ore deficit looms this year

The consumption of natural rubber (NR) increased substantially in November and December, according to the latest data by the Rubber Board. In November, the growth in consumption was seven per cent compared to the 4.3 per cent growth in production. In December, production increased one per cent whereas consumption increased 2.4 per cent. Till October, this pattern was vice-versa as the growth in consumption was very meagre, compared to the sharp upward trend in production.

Natural rubber consumption up in Nov-Dec

Oil prices moved higher in Asian trade today amid the threat of a production shutdown in Nigeria, Africa's biggest crude producer.

Oil higher in Asian trade on Nigeria unrest

Press Trust of India

Silver futures prices fell by Rs 488, or 0.92%, to Rs 52,282 per kg today, after participants reduced their positions amid a weak trend in global markets.

Silver futures down on weak global cues

Cardamom futures prices today rose for the second straight day by adding Rs 3.50 to Rs 585 per kg, as speculators enlarged their positions, driven by pick-up in spot demand.

Cardamom futures up on higher demand

Pepper futures prices shed 1.34% to Rs 30,900 per quintal today, as speculators offloaded their positions after fall in demand at existing higher levels.

Pepper futures shed 1.34% on sluggish demand

Crude palm oil futures extended losses for the second straight day by losing Rs 6.70 to Rs 533 per 10 kg, as speculators reduced their positions in tandem with a weakening global trend.

Crude palm oil futures extend losses on global cues

Turmeric prices rose by Rs 62 to Rs 4,716 per quintal in futures market today, as speculators created fresh positions, driven by pick up in demand in the spot market.

Turmeric futures up 1.33% on spot demand

Guar gum contracts continued the upward circuit the fifth consecutive day on Friday on strong fundamentals supported by an upbeat export demand.

Guar hits upper circuit 5 days in a row 

High demand, import checks keep prices firm enough for cheery margins, despite rise in input cost.

Caustic soda makers bet on 2012

Soda ash players find high input costs continue to make a dent in their margins. Soda ash is a raw material for making caustic soda.

Soda ash firms take a hit as input costs rise

Guar gum contracts continued an upward circuit for the fifth day on Friday on strong fundamentals, supported by upbeat export demand. So much so that the Forward Markets Commission (FMC), the commodity markets regulator, again raised trade requirements, to dampen the race.

Guar market still boiling over, FMC alarmed

Gold traders are the most bullish in two months after mainland China imported the most metal ever from Hong Kong and investors bought US bullion coins at the fastest pace in more than two years.

China gold hoarding turns traders bullish

The Organization for Petroleum Exporting Countries&rsquo; (Opec) members would be able to make up for a drop in Iranian oil supplies if the European Union was to agree to an embargo on the country&rsquo;s imports, said Chakib Khelil, the group&rsquo;s former president.

Opec could replace Iran oil supplies to Europe: Khelil

Gold physical buying was lacklustre after the harvest festivals and as prices gained further for a second session, traders said. Silver prices remained steady.

Gold physical buying lacklustre as prices move higher

Reuters 

Gold firmed on Monday, rising towards $1,645 an ounce, as stock markets recovered from losses and the euro lifted from lows early in the day, while traders digested last week's euro zone downgrades from Standard &amp; Poor's.

Gold firms as stocks recover, euro lifts from lows

Gold prices rose marginally by 0.11%, to Rs 27,537 per 10 grams in futures trade today as speculators created fresh position on the back of a firming trend overseas amid weakness in the rupee.

Gold futures marginally up at Rs 27,537

Oil prices rose in Asian trade today as worries over supply disruptions in Nigeria outweighed concerns over the mass debt downgrade of euro zone nations, analysts said.

Oil higher in Asian trade on Nigerian unrest

Gas prices in Texas and elsewhere in the US have jumped an average 7 cents in recent days after Iran threatened to close the Strait of Hormuz through which 16 million barrels of oil - about a fifth of world's daily oil trade - passes every day.

Gas prices escalating in US due to Iran tension

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