Page 255 - Commodity News

FCI rice stock hits 5-year high at 25 million tonnes

According to the official Second Advance Estimates, the country's rice output is estimated at 111.01 mt for 2017-18, a record

Gold up by Rs 100, reclaims Rs 32,000-level on local jewellers' buying

Sovereign, however, held steady at Rs 24,700 per piece of eight grams

High oil price may support sugar industry; output to surpass all-time high

The Centre had doubled sugar import duty to 100%, scrapped export duty to check falling prices

India's seafood exports increase 13% despite fall in global shrimp prices

India exported 1,085,378 tonnes of seafood till January in FY18 against 954,744 tonnes shipped in the corresponding period of FY17

Iron ore production in India crosses 200 million tonnes after 7 years

Output reached 210 mt, mostly on increased production in Odisha and Karnataka. This is 9% higher than 192 mt in 2016-17

Demonetisation, GST impact: India is fast ceding gold market share to China

According to WGC gold demand trend report for March quarter, India's share of global gold demand is down to 15.5%, even as China's has increased to 38%

EU frets over use of antibiotics in India's primary shrimp production

A miffed Union wants Indian authorities to control overall production, so shrimps meant for domestic market don't end up in Europe

Kerala's cashew industry seeks central, state support to stay afloat

Nearly 90% of the 865-plus factories have shut down, over 80% of 3,00,000 workers are jobless; most units have become NPAs

Commodity rally likely to put a spanner in India's growth story

Cascading effect of rising raw materials will result in inflation, high rates, slow capex

March quarter gold imports decline 32% as Akshaya Tritya fails to enthuse

Lower jewellery demand, flow of unofficial imports keeps inward shipments muted in first quarter of current calendar

Fin-tech companies must test loan books, need NBFCs for scale

ICRA says credit to MSMEs will grow at 12% annually over the next 5 years

Nalco making windfall gains from recent spike in global alumina prices

Globally, alumina prices have surged 80 per cent since the US clamped sanctions on major Russian producer Rusal

Oil pares monthly gain as US rigs offset Iran-deal risk

Oil surged to levels last seen in 2014 as issues including the conflict in Syria and tensions between Saudi Arabia and Iran-backed rebels in Yemen stoked concerns over supply disruptions

Gold prices near six-week low as dollar firms up, Korea fears ease

The metal slid 1 per cent last week on the back of a stronger dollar and a rise in Treasury yields to above 3 per cent

Subdued cotton prices may force farmers to move to soybean this kharif

Soybean prices are currently trading at 25% premiums to MSP after initially slipping below govt's threshold procurement price of Rs 2,850 a quintal

Disaster recovery sites of exchanges under focus as NCDEX volumes fall

NCDEX has been trading on DR site for almost two weeks now; with volumes down, other exchanges are rechecking their own DR sites

Commodity Picks: 30 April 2018

In the coming days, sugar prices are expected to fall to Rs 2,650 per quintal

Thailand to decide on whether to allow resuming of shrimp import from India

Thailand accounts for about 13 per cent of the $1.7-billion (Rs13 bn) of Indian seafood export to Southeast Asia

Jewellers see 10% export growth in FY19 after 5% decline in FY18

Growth in the sector was primarily driven by the cut and polished diamonds (CPD) segment, up 4.2 per cent to $23.7 billion in FY18

Coal India's new GCV-based billing system for consumers likely from July

Company officials feel the new system would require 100% sampling of coal for all consumer categories, from power producers to steel plants, cement makers & several others