Page 252 - Commodity News

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

India's gold import is likely to fall at least 15% in 2018

High prices, weaker rupee and tighter credit may dampen demand; but this might come as a relief for policymakers, RBI

Gold may hit Rs 34,000 mark by Diwali on weak rupee, geo-political concerns

Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten grams until Diwali in the domestic market

Gold recaptures Rs 32,000-mark on global cues, local jewellers' buying

Sovereign gold, however, held steady at Rs 24,800 per piece of eight gram

Sharp garlic price drop leaves Mandsaur farmers with a bitter taste

Farmers wait for the Bhavanter sale window to close in the next few weeks as they believe prices would increase after that, like in the case of soybean

Renuka Sugars to use network of Adani Wilmar to revive Madhur brand

Focus would be to give the required thrust to areas with better profitability and which would be much more sustainable, says Atul Chaturvedi, Chairman of Renuka Sugars

Onion prices crashed by 79%, tomato 50% between February and May

The impact of the strike, however, by farmers has started waning in some parts as it entered a second week but was still intense in some places

India's textile exporters expect easing of working capital

This is major relief for the textile industry, said Ujwal Lahoti

Cotton acreage to decline 10-12% this kharif season as farmers shy away

Farmers are shifting to other remunerative crops like soybean and paddy in major growing states