Page 262 - Commodity News

Oil pares gains as Opec expects output from non-members to grow

OPEC cut its forecast for demand for its own crude in 2018 by 250,000 bpd to 32.61 million bpd, marking the fourth consecutive decline

Farmers get another relief as Centre lowers price of BT cotton seeds

The move comes hours after thousands of farmers in Maharashtra protested in Mumbai seeking loan waivers, among other demands

Cold storages: Nearly 50-fold rise in projects approved by govt incentives

Nearly 50-fold rise last year in projects approved, pushed partly by govt incentives; over 30% annual growth estimated for segment in coming years

Maharashtra farmers, across all crops, have much to complain about

There has been some improvement in prices of oilseed and gram after the central government increased their import duties

Shares of sugar companies fall by up to 75% due to a sharp fall in prices

Share price of Riga Sugar is down 74 per cent to Rs 10.2 since its peak of Rs 39.9 in April last year

Sugar firms stare at losses, with estimate of record output, after 2 years

Sugar mills rely heavily on banks for working capital loans, since production is over a five-six month period, but the output gets sold over the whole year or more

Commodity Picks: 12 March 2018

Mustard seed is trading at Rs 4,176 per quintal at the benchmark Jaipur market

India shifts to gold discount but Akshaya Tritya seen reigniting demand

In the local market, gold was trading at 30,405 rupees per 10 grams, after hitting a 15-month high of 30,839 rupees last month

Pearls imports treble; import-export gap in case of diamonds shrinks

The declining net exports of pearls, stones and diamonds, along with the reducing trend of exports of studded jewellery point to a gradual rise in domestic consumption of gems and jewellery in India

MMTC to auction 12 tonnes of gold from GMS in next 10 days

MMTC aims to sell 150,000 India Gold Coins by the end of 2018-19

India rice rates up on steady demand; stronger baht props up Thai rates

Supplies are falling, forcing exporters to quote higher prices, said another exporter also based in Kakinada

Gold prices fall Rs 220 on weak global cues, low demand from jewellers

Following gold, silver ready moved down by Rs 400 to Rs 39,500 per kg

80:20 gold scheme: The RBI circular that benefitted a few private parties

The circular was issued in last days of the UPA government and a few days before the Narendra Modi-led NDA government took office

India's sugar exports may climb to four-year high on record output

Global sugar prices have tumbled about 28 per cent in the past year on a global surplus as production is set to increase in Europe and India

Indian Sugar Mills Association sees sugar output rising to 29.5 mt

UP, Maharashtra could produce over 10 million tonnes each this season

Sugarcane price arrears to farmers at nearly Rs 140 billion

The arrears for 2016-17 stood at ~9.03 billion and earlier years at Rs 16.86 billion

Godrej International sees palm futures rising to 2,700 ringgit by June

In an alternative bullish scenario, oil palms could suffer tree stress as haze returns to Southeast Asia this year, leaving Malaysian output unchanged in 2018

80:20 gold import scheme: The fire behind the smoke in UPA's policy

The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing

Crude prices fall as US shale output growth gathers pace

US West Texas Intermediate crude was virtually flat at $61.23 per barrel

Govt might revise licence fee of Bt cotton seed for 2018-19 crop season

Bt cotton seed prices were first lowered in 2016, by a panel constituted by the Centre under the Cotton Seeds Price Control Order of December 2015