The price of a 50-kg bag of cement may go up by as much as Rs 9 this month as the new coal pricing mechanism adopted by Coal India has increased the production cost for makers of the building material, Crisil Research said today.

Cement prices may go up this month

Press Trust of India

Credit Suisse on Tuesday lowered its 2012 price forecasts for precious metals and grains, citing remarkably resilient global output and a slower pace of global growth.

Credit Suisse cuts gold, silver price forecasts

Reuters 

Gold climbed to its highest in five weeks on Tuesday as German economic data boosted the euro after several sessions of losses and as stocks and commodities were lifted by Chinese trade data, which benefited assets seen as higher risk.

Gold hits 5-week high as euro, commodities rise

The country&rsquo;s largest iron ore producer, NMDC, is likely to cut prices this week. A decision to this effect is expected to be taken by the board of the state-owned mining company, which is scheduled to meet in Chennai, on Thursday.

NMDC may cut ore prices this week

Business Standard

The Cotton Advisory Board (CAB), in its meeting next week, may revise output estimates downwards for the current year. In the last meeting, it had estimated the crop at 35.6 million bales (one bale of 170 kg). It may now cut this by a million bales, said a source.

Cotton output estimates likely to be reduced

The price of tea has begun moving up, with late rainfall having affected the crop. Rising export and an increase in home consumption, of about 30 milion kg, less than the anticipated rise in year-end output, would add to the drawing down of stocks.

Late rain hits tea crop

India's coffee exports declined by 15 per cent to 58,598 tonnes in the first three months of the ongoing 2011-12 coffee year, according to the latest data.

Coffee exports decline 15% in Oct-Dec

Tyre exports increased 25 per cent during the April-November period of the current financial year. During the period, a total 5.03 million tyres were shipped compared to 4.01 million in the same period of the last financial year.

Tyre exports up 25% in Apr-Nov

Hit hard by the shortage of skilled manpower, the Indian diamond processing industry has formed a unique model to overcome it. Under the aegis of the Ministry of Commerce, the Gems &amp; Jewellery Export Promotion Council (GJEPC) has formed a separate Gem &amp; Jewellery Skill Council of India (GJSCI) for overall enhancement of skill in factory workers across the industry.

Industry body to boost skills of gems, jewellery workers

The message came loud and clear from Planning Commission deputy chairman Montek Singh Ahluwalia that a power intensive industry like aluminium will do well to be sharply focussed on process improvements to economise on energy consumption per unit of metal smelted.

Aluminium's energy nightmare 

Oil prices climbed in Asian trade today on fresh worries over tension between Western powers and major producer Iran.

Oil prices higher in Asia on Iran fears

Gold futures rose by 0.19% to Rs 27,537 per 10 grams today, as speculators created fresh positions on the back of a firming trend overseas.

Gold futures up 0.19% on global cues

Taking positive cues from global market, silver moved up by 0.49% to Rs 52,571 per kg in futures trading today.

Silver futures up 0.49%

Crude oil futures edged up marginally by 0.6%, as speculators enlarged their positions, supported by a firming trend overseas.

Crude futures marginally up on overseas trend

Chana prices plunged by Rs 133, or almost 4% to Rs 3,198 per quintal in futures trade today after speculators reduced their positions, triggered by increased arrivals from producing regions in the physical market against subdued demand.

Chana futures plunge 4% on supply pressure

Pepper futures shot up by 1.43% to Rs 31,850 per quintal today, as speculators built-up of huge positions, supported by lower crop estimates.

Pepper futures up 1.43%

Jeera prices drifted by 0.65% to Rs 16,731 per quintal in futures trade today, as speculators booked profits at existing higher levels amid hopes of higher output following increased sowing in the current rabi season.

Jeera futures decline on profit-booking

Supported by a rising demand due to marriage season, cardamom prices rose by Rs 6.60 to Rs 647.30 per kg in futures trade today.

Cardamom futures up on rising demand

Potato prices plunged by Rs 15.70 to Rs 723.70 per quintal in futures trading today on increased supplies in the physical market against lower demand.

Potato futures plunge 2.1% on increased supplies

The consultancy&rsquo;s most of forecast made in the past have proved true and hence, makes significance for the gold mining, processing and consumption sectors globally.

Gold to hit $2,000 by year end: report

The government raised import duty on gold and silver exorbitantly to curb import of precious metals translating thereby huge outflow of dollar outside India.

Import duty on gold and silver up

Get the latest commodity market news and daily price updates on gold, silver, crude oil, and more. Stay informed with real-time trends and expert insights at Business Standard.

Page 2418 - Commodity News