Page 281 - Commodity News
Gold imports double in September quarter despite GST, PMLA notification
GFMS Survey also sees strong demand in December quarter, projects high prices next year
 "Gold imports double in September quarter despite GST, PMLA notification")
Gold falls Rs 165 on weak global cues
Silver also fell Rs 475 per kg due to reduced offtake by industrial units
 "Gold falls Rs 165 on weak global cues")
MSP of rabi crops raised to keep food price inflation contained: Nomura
Wheat is the main rabi crop, sowing of which will begin from this month
 "MSP of rabi crops raised to keep food price inflation contained: Nomura")
Govt puts GM mustard approval on hold
Cotton only GM crop allowed to be sold, cultivated in India
 "Govt puts GM mustard approval on hold")
Govt hikes wheat MSP by Rs 110/qtl; pulses, Rs 200/qtl to check prices
MSP is the rate at which government buys grain from farmers
 "Govt hikes wheat MSP by Rs 110/qtl; pulses, Rs 200/qtl to check prices")
Readymade garment exports up 25% in Sept; firms say can't sustain growth
Industry experts hope they would surpass last year's total RMG exports of Rs 1,16,588 crore, or $17.358 billion
 "Readymade garment exports up 25% in Sept; firms say can't sustain growth")
Vegetable prices surge on lower supply; Onion hits two-year high
Green veggies costlier by up to 100% during past 4 weeks in both wholesale and retail markets
 "Vegetable prices surge on lower supply; Onion hits two-year high")
Gold recovers by Rs 60 to Rs 30,510 on jewellers' buying, global cues
Globally, gold rose 0.16 per cent to $1,282 an ounce and silver went up 0.32 per cent to $17.05 an ounce in New York in yesterday's trade
 "Gold recovers by Rs 60 to Rs 30,510 on jewellers' buying, global cues")
Oil hovers near $52 a barrel
Oil is holding a second week of gains after the strongest signal yet that the Opec will extend supply curbs until the end of 2018
 "Oil hovers near $52 a barrel")
Coal reserves down at power plants despite CIL raising output
Coal India accounts for a little over 80% of thermal coal sales in the country
 "Coal reserves down at power plants despite CIL raising output")
Better margins for metal firms likely in Q2
For base metal producers, rising rupee set to partly offset profitability
 "Better margins for metal firms likely in Q2")
Gold demand jumps due to Diwali, Dhanteras; still 15% down from last year
After poor sales during Dussehra festival, demand improved significantly over the last two weeks but was still 15% lower than last year's Diwali
 "Gold demand jumps due to Diwali, Dhanteras; still 15% down from last year")
Govt imposes more gold import curbs on star houses to check round-tripping
Import by 4-star and 5-star export houses to be subject to actual user condition
Curbs on gold import by 4-, 5-star export houses
No nominated agency certificate shall be issued/ renewed for four-star export house and five-star export house status holders
Opec leans towards 9-month extension of oil supply cut
Opec-led supply deal to expire in March 2018
 "Opec leans towards 9-month extension of oil supply cut")
Gems and jewellery exports down 7% in H1 of FY18 due to GST, gold policy
The G&J segment's share of India's overall merchandise exports is about 13%
 "Gems and jewellery exports down 7% in H1 of FY18 due to GST, gold policy")
Edible oil import to rise in coming year
Another 1.2-1.3 mt of import in October would take the year's import to 15.5 mt, a record
 "Edible oil import to rise in coming year")
An eventful year for gold
Despite note ban and the implementation of GST, gold still managed to register higher demand over previous year
 "An eventful year for gold")
Despite flooding, Gujarat may see record kharif groundnut output
Rainfall was satisfactory and timely and this has resulted in the bumper crop: Executive director of SEA
Paddy bonus stirs Diwali market in Chhattisgarh
The Dhanteras market alone in the state transacted businesses worth about Rs 900 crore
 "Paddy bonus stirs Diwali market in Chhattisgarh")