Page 292 - Commodity News
Onion becomes four times more expensive in two weeks on supply squeeze
Flood and rainfall in Gujarat, Madhya Pradesh have added to the woes
 "Onion becomes four times more expensive in two weeks on supply squeeze")
Drought-hit Tamil Nadu reaches out to UP to solve chronic sugar shortage
Mills in state ask UP plants to supply 600,000 tonnes, want Centre to bear Rs 180 cr transport cost
 "Drought-hit Tamil Nadu reaches out to UP to solve chronic sugar shortage")
Oil prices rise following rising Opec exports and strong US jobs data
Crude futures had been lower in early trade before the jobs report spurred buying
 "Oil prices rise following rising Opec exports and strong US jobs data")
MCX inks MoU with Mahindra Agri for data on farm pricing
Pact to enhance decision-making ability of farmers
 "MCX inks MoU with Mahindra Agri for data on farm pricing")
Global food prices hit 31-month high in July: FAO
Food Price Index averaged at 179.1 points in July 2017, up by 3.9 points or 2.3% from June
 "Global food prices hit 31-month high in July: FAO")
Amid GST transition, gold smuggling in India seen rising: WGC
Hike in sales tax effectively lifted margins for "grey market" operators, says WGC India MD
 "Amid GST transition, gold smuggling in India seen rising: WGC")
Gold demand shines, up 30% in January-June: WGC
Expectation of a good monsoon boosted sentiment
 "Gold demand shines, up 30% in January-June: WGC")
GST impact: Gold investment demand to leapfrog in near term
Enhanced transparency brought in by the introduction of GST said to be the cause
 "GST impact: Gold investment demand to leapfrog in near term")
Indian companies fight shy of disclosing commodity risks: Study
Only 12% made disclosures about commodity risk in annual reports, compared with 30%, on forex risk
 "Indian companies fight shy of disclosing commodity risks: Study")
Erratic monsoons signal farm distress, may lower key food crops' output
Monsoons deliver 70% of India's annual rainfall & are critical for farmers as for irrigation
 "Erratic monsoons signal farm distress, may lower key food crops' output")
Weavers reel under post-GST hike in yarn prices
The price hike has been caused by rising raw material prices such as PTA and MEG
 "Weavers reel under post-GST hike in yarn prices")
ICEX to attract small traders to diamond futures
The exchange has kept the trading and delivery size low to attract all types of business units
 "ICEX to attract small traders to diamond futures")
Exchanges cautious ahead of Bitcoin Cash launch
Bitcoin's underlying software code is being split to create Bitcoin Cash
 "Exchanges cautious ahead of Bitcoin Cash launch")
MMTC entering jewellery retail and warehousing, to double revenues in 5 yrs
Consultancy firm KPMG has identified 8 key focus areas for the country's largest trading company
 "MMTC entering jewellery retail and warehousing, to double revenues in 5 yrs")
Gold recovers, silver reclaims Rs 38,000 level
Globally, gold prices hit their highest in almost seven weeks, boosted by a struggling dollar
 "Gold recovers, silver reclaims Rs 38,000 level")
Tata Steel eyes commercialisation of advanced material graphene
The company has launched ready-made graphene-coated stirrups, named Tiscon Superlinks+
 "Tata Steel eyes commercialisation of advanced material graphene")
Soft crude prices to keep outlook for Indian upstream sector negative: Icra
OPEC had agreed to cut total crude oil production of its member countries by 1.2 mn a day
Commodity picks: July 30, 2017
Soybean, Maize
Gold import in second half set to slide
The fall would be driven by early jewellery purchases and a strong revival of agricultural activity
 "Gold import in second half set to slide")
Tomatoes still costly at Rs 100/kg as heavy rainfall, floods disrupt supply
Local vendors are selling tomatoes in the Rs 80-100 per kg range depending on the quality