Page 291 - Commodity News
Edible oil to become costlier by 4-5% on import duty hike
Industry welcomes move, says will make domestic edible oilseed extraction and refining competitive
 "Edible oil to become costlier by 4-5% on import duty hike")
MCX gets Sebi nod to launch gold options in September
The Securities and Exchange Board of India has approved the options contract
 "MCX gets Sebi nod to launch gold options in September")
Govt hikes import duty on crude, palm oil to boost local prices
This is aimed at supporting domestic farmers and refiners
 "Govt hikes import duty on crude, palm oil to boost local prices")
Gold hits two-month high, demand falls 3% due to GST
Spot gold price rose 1.3 per cent on Thursday, the biggest daily gain since mid-May
 "Gold hits two-month high, demand falls 3% due to GST")
Sugar mills on debt reduction spree
Most sugar mills retire part of their debt, squeeze in margins on high cane cost
 "Sugar mills on debt reduction spree")
Government spending to drive steel demand
Steel consumption will increase especially in roads, power, water and gas pipeline projects
 "Government spending to drive steel demand")
90% of South Korea gold imports by two business groups
India's comprehensive FTA with Korea came into effect in 2010
Gems and jewellery exports rise 4%
The labour-intensive sector contributes about 14 per cent to the country's overall exports
 "Gems and jewellery exports rise 4%")
Steel demand to rise as govt looks to increase public sector spending
Anticipating the trend, primary steel producers have raised their product prices by Rs 3,000 a tonne
Govt tweaks HPCL's terms of sale to ONGC to avoid 'open offer'
The official said the government is keen to complete the transaction within the current fiscal
 "Govt tweaks HPCL's terms of sale to ONGC to avoid 'open offer'")
MCX gets Sebi nod to launch options contract in gold
Plan was delayed by discussions among market players and govt over tax rules, settlement procedures
 "MCX gets Sebi nod to launch options contract in gold")
Gold imports more than doubled in July
Demand is expected to slow in second half on new tax: WGC
India's cotton yield to decline on whitefly, pink bollworm attacks
From north to west, farmers seek protection from pest attacks to improve productivity
 "India's cotton yield to decline on whitefly, pink bollworm attacks")
MCX gets Sebi nod for launching options contract in gold
Exchanges have been demanding for long that options trading in commodities be allowed
 "MCX gets Sebi nod for launching options contract in gold")
Rupee rally to slow export of non-basmati rice
Lower shipments from India will give rivals like Vietnam a chance to raise their share of market
 "Rupee rally to slow export of non-basmati rice")
GST impact: Gold import surge from South Korea alarms govt
Steps such as safeguard duty in the works to plug the route
Seafood exporters look at alternatives to US, Europe
India exported $5.8 bn of seafood products in FY17. The US was the largest market; the EU was third
 "Seafood exporters look at alternatives to US, Europe")
India fast heading for agri trade deficit despite being a farm economy
Trade surplus of 145% narrows to 6% in four years on rising import, falling exports
 "India fast heading for agri trade deficit despite being a farm economy")
Govt to work with OECD to prepare norms for gold imports, refining
A working group is being set up having OECD, government and industry representatives
Tamil Nadu seeks Centre's help to source sugar from UP
India imported 0.5 mt of raw sugar in 2016-17 under Open General Licence to meet regional deficits
 "Tamil Nadu seeks Centre's help to source sugar from UP")