Page 263 - Commodity News

ISMA to raise sugar production estimate on increased cane yield

Trade body already revised estimates up by 10% to 29 million tonnes

Duty cut pushes up edible oil prices; up to 8% surge across all varieties

Through increase in import duty, the government aims to help domestic oilseed crushers and edible oil producers who suffered badly last year due to cheap imports

IEA sees US shale output surge stealing Opec share in next five years

A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output to reduce global oversupply materially improved the outlook

Govt's tax hike to cut palm oil imports, boost soyoil, sunflower oil buying

Lower imports by such a major buyer could also weigh on prices for producers of palm oil

Commodity Picks: 5 March 2018

Mustard seed is trading at Rs 4,050 per quintal in the benchmark Jaipur market

Sharp increase in tariff on palm oil, chickpea

For desi chana (black chickpea), the duty of 40 per cent has been raised to 60 per cent

Commerce ministry to reconcile data conflict on polished diamond import

The ministry has called a meeting with both on the coming Thursday

Rapeseed-mustard production estimate dips marginally by 4%, says SEA

According to convenor SEA's oilseeds estimate committee, seven survey teams of about 50 members went out

Pressure to ease on iron ore prices; mining firms to resume operations

Sequel to SC allowing firms with capacity of 25 mt in Odisha to restore operations

World steel output in January at 139.4 million tonne, up 0.8% yoy

India, Japan witnesses increased production, while China reports a drop of nearly 1%

Jewellers, bullion dealers are set to get gold bars with 99.50% purity

The framework will also ensure responsible sourcing, assaying and certification for the jewellery value chain

Gold climbs Rs 190 to Rs 31,850 on firm global cues, jewellers' buying

Moreover, increased buying by local jewellers at domestic spot market, supported the uptrend in gold

India's sugar production likely to rise 12% as Maharashtra output doubles

The higher-than-expected output could pressure local prices and force the world's second-biggest sugar producer to remove a tax on exports

Castor seed production estimates up by 34% in 2017-18: Survey

Production estimates see a major push from crop yield that grew by record 37%

Oil steady after hitting 3-week top as Saudi to keep output well below cap

London Brent crude slipped 3 cents to $67.28 a barrel, after climbing almost 4 percent last week

Hindustan Copper seeks gold in copper ore leftovers from Madhya Pradesh

The project could generate 360 kg gold, 3,600 kg silver annually

Commodity Picks: 25 February 2018

Barley is trading at Rs 1,473 per quintal in Jaipur, Jeera is trading at Rs 18,168 per quintal in Unjha market

Maharashtra sugar mills owe cane farmers Rs 25 bn due to low sales

The official said falling prices in the wholesale market had meant that mills were unable to pay the farmers as per the formula

Saudi oil minister hopes Opec, allies will ease output cuts in 2019

The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million barrels per day as part of a deal with Russia

Jewellers shy away as India gold prices touch near 15-month highs

Gold demand in major hubs in Asia remained dull as most markets were shut for the Lunar New Year holidays