Page 249 - Commodity News

Venezuela's declining crude exports squeeze India's refiners amid Iran woes

An expert said that while Saudi Arabia was expected to boost supply to India in the short term, those barrels would not match the quality of the missing Venezuelan crude

MSP formulation based on outdated methodology, inadequate sample size

The sample size of 8,100 farmers across 19 states has not changed in the last three decades, and the methodology of the sample survey too remains unchanged

Indian aluminium exports jump 36% in 2017-18 on high global demand

India's production of primary aluminium grew 21% year-on-year (y-o-y) in the last financial year

Ethanol hike: Decontrol of molasses by UP holds key for optimum benefit

In the current season 2017-18, the total production of molasses stood at over 5.32 million tonnes

Seafood export rises 22% to nearly $7.1 billion in 2017-18

The US took the largest share of Indian seafood, at $2.3 billion or 32.8%

Sugar price jumps by 3.5% on as govt pares release for July by 23%

Price of benchmark S 30 sugar up by Rs 100 a quintal, trades at Rs 3,020-3,070 a quintal in Vashi APMC market on Saturday

Making ethanol under new method could solve India's sugar surplus problem

Experts said that making ethanol from B-heavy molasses and cane juice would allow the possibility of a reduction in sugar surpluses, thus indirectly supporting sugar prices

India's spice export grows by record 8% to 1 million tonnes in 2017-18

The growth, according to the spice board, was mainly due to market interventions and emphasis on value-added products by the Board to promote Indian spices globally

India succumbs to US pressure; prepares for cut in oil imports from Iran

India has said it does not recognise unilateral restrictions imposed by the US, and instead follows UN sanctions

China to reduce import tariffs on soybean from India, other nations

Imported products such as chemicals, agricultural products, medical supplies, clothing, steel and aluminium products from these countries will also enjoy certain tariff reductions

Oil falls after Opec's plan to raise output, but markets to remain tight

Opec and non-Opec partners including Russia have since 2017 cut output by 1.8 million barrels per day (bpd) to tighten the market and prop up prices

Gold demand picks up in Asian hubs as prices slid to six-month low

Dealers in India were charging a premium of up to $1 an ounce over official domestic prices this week

MCX sees options volumes growing to 60% of underlying futures in 6 months

While gold options have risen sharply in turnover the past two months via liquidity enhancement scheme, options in other commodities have been lackluster

Opec, Russia to raise oil output, Saudi pledges 'measurable' supply boost

Opec and non-Opec said in their statement that they would raise supply by returning to 100 per cent compliance with previously agreed output cuts, after months of underproduction

Opec meets Russia, other allies today for new deal to raise oil output

Saudi Arabia said the move would translate into a nominal output rise of around 1 million barrels per day (bpd), or 1 per cent of global supply, for OPEC and non-OPEC producers

Kharif sowing 9.7% lower as monsoon delayed over Central, North India

Going forward, however, experts say sowing should pick up pace once monsoon revives eastern, central, northern and western parts of country

Uttar Pradesh govt asks sugar mills to pay Rs 123 bn dues in 15 days

In the current season, that is 2017-18, UP's sugar production was around 12 mt on the back of higher production and a rise in recovery ratio of 10.87%

Darjeeling tea struggling to stage comeback; buyers from Japan absent

Production from January to April stood at 1.35 mkg, at par with last year

Opec meet in Vienna: Oil ministers back output hike despite Iran's walkout

While the OPEC+ panel has recommended raising supply by a nominal 1 million barrels a day, the actual rise is likely to be smaller as some nations are unable to pump more

Gold prices edge up after 6-month low; dollar retreats from 11-month peak

Russia produced 51.6 tonnes of gold in the first three months of 2018