Page 289 - Commodity News
ICEX launches world's first diamond futures contracts
The 1-carat contract for expiry in November, December and January will have delivery centre at Surat
 "ICEX launches world's first diamond futures contracts")
Steel companies fear spike in iron ore prices after SC order
According to industry sources, the compensation figure would be around Rs 25,000 crore
 "Steel companies fear spike in iron ore prices after SC order")
Gold rebounds on global cues, silver jumps Rs 515/kg
Silver reclaimed the Rs 39,000-mark due to speculative offtake amid heavy industrial demand
 "Gold rebounds on global cues, silver jumps Rs 515/kg")
PMLA rules to apply to gem & jewellery sector with immediate effect: Govt
Recently, the govt had banned gold coins and articles coming from South Korea at zero duty under FTA
 "PMLA rules to apply to gem & jewellery sector with immediate effect: Govt")
Govt bans gold import at zero duty from South Korea
Revenue loss estimated at Rs 750 crore
 "Govt bans gold import at zero duty from South Korea")
Govt tightens norms for gold jewellery exporters to curb misuse
Govt has already banned exports of gold jewellery above 22 carats
 "Govt tightens norms for gold jewellery exporters to curb misuse")
Gold refineries get year-long deadline extension for BIS registration
Currently, there are around seven-eight refineries that meet BIS norms on quality
 "Gold refineries get year-long deadline extension for BIS registration")
Govt restricts imports of gold, silver from South Korea
Move comes as traders were taking benefit of recent tax change, enabling them to avoid customs duty
Aluminium consumption to tilt towards construction, packaging sectors
CARE Ratings expects consumption of metal to grow at a CAGR of 3.5% in next 2-3 yrs
 "Aluminium consumption to tilt towards construction, packaging sectors")
Tomato prices fall sharply, onion also dips
Similarly, onion prices have fallen as farmers harvested pre-matured crops for better realisation
 "Tomato prices fall sharply, onion also dips")
Steel makers anxious as iron ore miners up prices over export demand
62 Fe grade iron ore prices rise by over 9% in 2 weeks as global prices climbed on China demand
 "Steel makers anxious as iron ore miners up prices over export demand")
MSTC set to launch forward trading in niche horticulture products
MSTC says Sebi approval not needed in perishable commodity
 "MSTC set to launch forward trading in niche horticulture products")
UK importers warn of EU shrimp import ban
Federation asks minister to resolve issue & overhaul export safety rules
 "UK importers warn of EU shrimp import ban")
Bearish operators tightening grip over gold futures
With rising prices & falling volumes of the metal, US Fed, ECB expected to provide clarity on Friday
Centre asks states to impose stock limits on onion traders as prices rise
Retail onion prices Delhi have risen to Rs 38/kg as of today from Rs 22/kg in the year-ago period
 "Centre asks states to impose stock limits on onion traders as prices rise")
Pulses get dearer on import curbs
Due to a record high crop last year, govt procured nearly 2 mn tonnes of pulses at MSP from farmers
 "Pulses get dearer on import curbs")
Uttar Pradesh sugar mills owe Rs 2,000 cr to farmers
CM assures farmers that his govt would ensure full payment of arrears before next crushing season
 "Uttar Pradesh sugar mills owe Rs 2,000 cr to farmers")
Basmati overtakes buffalo meat as top export commodity
Export of buffalo meat was affected by a short-lived ban on sales of cattle at mandis
 "Basmati overtakes buffalo meat as top export commodity")
Telangana sops for textile sector a wake-up call for Tamil Nadu
Telangana is known for its production of long staple cotton, with annual production of 60 lakh bales
 "Telangana sops for textile sector a wake-up call for Tamil Nadu")
Urad, moong imports put in restricted category
Will help in stabilising domestic prices that fell below minimum support level & are hurting farmers
 "Urad, moong imports put in restricted category")