Page 258 - Commodity News

MMTC is rethinking decision to sell its residual 9.5% equity in ICEX

Initially, MMTC had 26 per cent of the equity in the exchange but its stake had gradually shrunk

Vedanta to save Rs 800 per tonne in long-term bauxite deal with OMC

Long-term supply price arrived at Rs 465 per tonne in first bauxite auction

India's non-basmati exports rise 34% on Africa's import demand

Indian variety becomes popular after Thai currency appreciates

Sharp $5 increase in crude price might hit retail prices next week

The company and Union minister of petroleum Dharmendra Pradhan denied any direction from the government on holding the retail price line

Gold tops Rs 32k-mark on global cues, jeweller buying; silver hits Rs 40k

Silver coins too spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces

Delhi HC dismisses Monsanto plea to enforce BT cotton seed patent

The single judge had said that the Indian companies would pay trait fees to Monsanto according to government-set rates

Global oil demand not to peak soon, India vulnerable to high prices: IEA

Very high prices are not good for oil producers either as it can create serious challenges for them, IEA Executive Director Fatih Birol said

No immediate plan to give production-linked subsidy to sugar sector: Govt

Asked factories to export 2 million tonnes sweetener, even at loss, to liquidate surplus stock and improve domestic prices

Cane payments: Paswan asks states to penalise defaulting sugar mills

Letter comes amid mounting sugarcane arrears topping Rs 160 billion and talk of incentivising exports

Sudden rain spares standing wheat crops in Punjab, Madhya Pradesh

The crop could be at risk if the rains return with bigger intensity in the next few days

Agri input firms expect double-digit growth in sales, net profit in FY19

Normal monsoon and MSP hike to boost profits

Govt likely to pay cane growers Rs 55 a tonne to help sugar mills: Sources

India in March scrapped a 20 per cent export tax and made it compulsory for mills to export at least 2 million tonnes of sugar

Cement industry may post flat 5% growth in FY19 despite pick-up in demand

Sand availability issues persist in Rajasthan, Uttar Pradesh, Bihar, Tamil Nadu, which are adversely impacting demand in these regions

Odisha miners cut iron ore price by 10% on improved supply

This is despite the indication by another big supplier government-owned NMDC to not slash ore prices in April

Natural gas may play a major role in India-Cyprus bilateral trade

India expects to double share of natural gas in the country's energy mix to more than triple imports to 70 mt per year by 2022

Ban on deposit schemes to hit jewellery industry, may cut gold sales by 25%

Jewellers rue loss of cash flow at a time when credit is getting costly

Oil PSUs plan to nearly double Iranian oil imports to 396,000 bpd in FY19

Tehran recently deepened freight discount to firms in India, its second-biggest oil client after China, in return for higher volumes

Wheat, maize led global food price rise for a consecutive month in March

Second monthly rise indicates trend will continue in near term

Wheat procurement starts on dull note; might pick up pace in coming weeks

Prices started falling from second half of March because new crop started arriving from Madhya Pradesh, Rajasthan, Gujarat

Central agencies to procure mustard, masoor from Madhya Pradesh

For chana, officials said a decision on direct purchase could be taken in the next few days. The procurement would be done through NAFED, SFAC, and Food Corporation of India