Page 250 - Commodity News

Gold prices at 6-month low on US interest rate hike fears

Spot gold was down 0.3 per cent at $1,263.96 an ounce at 1244 GMT but off a low of $1,261.36, its weakest level since December 20

After brief surge, sugar prices on decline again

With the average cost of production around Rs 3,600 a quintal, mills say their losses will widen

Headwind for silver before outshining gold: Analysts

During the recent rout in base metals, following the trade war triggered by the US, ratio punters were proved wrong and silver price fell sharply compared to gold

Fuel prices to fall? Tough OPEC talks likely in Vienna on hiking oil output

Several countries are bristling at the thought of reversing a deal curbing oil output that has been in place for 18 months and helped lift oil prices to multi-year highs

Deficient rain in June takes toll on pulses sowing in Odisha

Against 4,174 hecatres brought under the sowing of pulses last year, this year only 2,270 hectares was covered due to delay in sowing by farmers

Cotton blooms as US-triggered trade war intensifies, yarn prices up 10%

Rupee depreciation fuels demand further as currency slips below 68 to the dollar

Trade war triggers an across-the-board risk aversion to commodities

Oil, metals, gold-silver fall 2-3%, cotton seheds as much as 5% as dollar strengthens

Growing balance sheet may not be easy for gold loan companies

While firms aim to share of non-gold business, stiff competition may keep growth under check

Govt to subsidise finance and insurance cost for sugar buffer stock

Charges will be reimbursed to mills at Rs 29 per kg of sugar price, as opposed to the all-India average cost of production of Rs 35-36 a kg

Karnataka iron ore offtake falls sharply, only 25% of NMDC's output sold

Steel units justify sourcing from other states saying it helps them boost profits as the quality is superior and comes at a reasonable cost

Import duty on non-palm oils hiked by 5-10%

Palm oil imports might remain under pressure this month too, helping soyoil and sunflower oil gain market share

Deal to gradually boost Opec output 'inevitable', says Saudi Arabia

So far, Caracas & Tehran have been adamant that Opec doesn't need to boost production this year, and have warned against succumbing to pressure from Washington

Rs 70-bn gift not sweet enough? Sugar mills seek 25% hike in ethanol prices

The sugar package is certainly going to benefit distilleries in the long run, provided ethanol price is increased by 1.5 times, an industry insider said

India's silver use triples in a decade, world share up from 14.7% to 39.2%

Several investors bought silver in 2011 when it peaked at Rs 75,000 a kg; many are holding on to avoid booking losses, only a few smart ones have averaged the cost at lower prices

Gold rises Rs 150 to Rs 31,950/10 grams on jewellers' buying, silver slips

Globally, gold fell 0.15 per cent to $1,293.20 an ounce and silver declined by 0.21 per cent to $16.80 an ounce in Singapore

Pink bollworm likely to hit sowing of the cotton crop in Gujarat

According to state government sources in Gujarat, cotton sowing was only 9,339 hectares or 0.37% of the normal three-year average sowing in the first week of this month

Higher global prices set to help dairy companies' revenue

However, it is the other way round for SMP, the most popular dairy product in the export segment

Sugar surges 21% in three weeks on govt's reverse stock limit order

Hits Rs 3,341 a quintal in Vashi Mandi; mills say govt's Rs 70-bn package, buffer stock move are knee-jerk reactions, supply glut not addressed

Saria falls further on sluggish demand

Saria falls further on sluggish demand

Why the Rs 70 bn sugar sector bailout won't resolve farmers' grievances

Sugar industry, sugarcane farmers are likely to be in a similar crisis next year too as domestic production is likely to be in excess of domestic consumption