Page 259 - Commodity News

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

India, China to drive global demand for gold, jewellery: Metal Focus

Apart from demand for jewellery fabrication, physical investment is expected to improve 4 per cent

Wheat prices fall below MSP of Rs 1,735 on fresh arrivals and weak quality

Wheat quality in MP is usually better than North Indian wheat and the state government there has announced a bonus of Rs 265 per quintal above MSP

Bullion up, metals slide over China's proposed retaliatory tariffs on US

The US government had issued a notice seeking public comments for imposition of 25 per cent additional customs duty on 1,600 items

Production surge of Indian shrimp might result in a price fall

Apart from India, the major producers of farmed shrimp were China, Ecuador, Vietnam and Indonesia

India's sugarcane arrears swell to Rs 160 billion in March

Mounting arrears might prompt farmers to look for alternative crops in the coming years

Bulk exports of edible oil unviable; groundnut oil may find some takers

If there is, however, a scarcity of edible oil in the country, the government might rethink its policy

Aluminium exports surge 34% on higher output, fall in consumption

Exports of the white metal rose from 0.97 million tonnes to 1.3 million tonnes in the period

Sugar production in Maharashtra is set for a new record for crushing season

Prices, therefore, are likely to be under pressure through this year and next year

Gold import bill rises 13% at $34 bn in FY18, trend set to continue in FY19

Demand was higher last year due to rebalancing of portfolios by investors after demonetisation, says Sonal Varma, chief India economist at borkerage Nomura

Amul's turnover up only 8% in FY18 owing to depressed market conditions

The provisional unduplicated group turnover of the Amul brand has crossed Rs 410 billion, up 10 per cent from last year

Sugar surplus to rise to 5.3 mn tonnes for 2017/18 crop year: WISMA

The higher-than-expected surplus could pressure local prices even lower even after they fell last week to their lowest since December 2015

Commodity Picks: 2 April 2018

Firm global cues due to expectation of low acreage in US would help revival in soy meal export demand

Govt disposes of around 700,000 tonnes of pulses so far from a buffer stock

The government is disposing of stocks through e-auction to private traders, army and paramilitary forces as well as states besides for central welfare schemes

NMDC under pressure to cut iron ore prices for April

According to trade sources, the difference in ore prices between private miners and NMDC is currently Rs 850 a tonne

Asia's Iran oil imports fall by a fifth in February, hit 2-month low

India's imports from Iran rose 1.3% to 655,500 bpd last month

Gold prices tumble by Rs 650 on low demand from local jewellers

Silver followed suit and lost Rs 600 at Rs 39,150 per kg

Govt doubles commission for dealers on urea sale to Rs 354 a tonne

A higher margin to dealers will help in smooth implementation of the Direct Benefit Transfer of fertiliser subsidy

With prices heading for 3rd quarterly rise, gold forges best run since 2011

Holdings in bullion-backed ETFs hit 2,268.6 metric tons last week, the most since 2013, data compiled by Bloomberg show

Gold demand picks up in India over wedding season, subdued elsewhere

Gold is an essential part of the bride's dowry in India and also a popular gift from family and guests at weddings