Page 277 - Commodity News

ICEX launches 50-cents diamond futures contract

ICEX in August had launched world's first diamond futures contract, but initially contract size was 1 carat

US oil dips on increased drilling, but Opec cuts support global markets

The deal to cut output expires in March 2018, but Opec will meet on November 30 to discuss its policy, with most analysts expecting some form of agreement to extend the cuts

Commodity Picks: 27 November, 2017

Barley prices in Jaipur are trading at Rs 1,507 a quintal

Delhi plans to create price stabilisation fund for onions

Retail onion prices, which have shot up to Rs 50-65 per kg in most cities, have come under pressure due to tight domestic supplies

Pest attack, low yield to hit cotton crop

Clarity is expected in a few weeks on the extent of damage the pink bollworm has done to the standing crop

Gold dips to Rs 30,450 on global cues, weak demand; silver slides by Rs 200

Globally, gold fell 0.21 per cent to $1,287.90 an ounce and silver by 0.35 per cent to $17.01 an ounce

Tomato prices harden, hit Rs 80 per kg in national capital

The key kitchen staple has become equally dearer in other parts of the country

Onion hits two-year high, govt sets minimum export price at $850 a tonne

This can lift prices in key importing countries like Bangladesh, Malaysia, United Arab Emirates and Sri Lanka

Freight rates surge on commodity boom

Will it help shipping companies to revive their fortunes? That depends upon how many companies are in a position to cash in on high freights

Govt imposes MEP on onions to boost local supplies

Retail onion prices, which have shot up to Rs 50-65 per kg in most cities, have come under pressure due to tight supplies

US oil prices near two-year high on pipeline shutdown, falling inventories

WTI has been buoyed by the shutdown of the 590,000 bpd Keystone pipeline, one of the largest crude pipelines from Canada to the United States

BIS to frame hallmark standards for 24 carat gold jewellery

At present, there are BIS standards for hallmarking of jewellery made from 14, 18 and 22 carat gold

Silver import up 60%, to cross 5,000 tonnes

Investment demand lags; cheque purchases replace those in cash, post demonetisation

Rural India's conundrum

Farm-gate prices are down but demand is showing a small turnaround

Govt to import 2,000 tonnes onion as prices soar to Rs 65/kg

Onion prices in most markets have skyrocketed due to inflation and delay in Kharif harvest

Oil prices rise on account of Canadian pipeline disruption to US

Brent crude futures, the international benchmark for oil prices, were at $63.30 per barrel, up 73 cents, or 1.2 percent.

Maharashtra govt to sell tur dal at subsidised rates

The Cabinet approved a proposal to sell tur dal after milling it, which had been procured through the market intervention scheme by the state government

Gold prices fall by Rs 250 after demand softens

Diversion of funds towards the soaring equity markets also weighed on the prices

Sugar prices down; mills want stock limits to be lifted

The 2017-18 season's opening stock is estimated at 3.9 mt.

Country's biggest tax increase in a decade may cut palm oil imports

India raised its import tax on crude palm oil to 30 per cent from 15 per cent, while the duty for refined palm oil has been raised to 40 per cent from 25 per cent