Page 295 - Commodity News
GST impact: 5% rate to squeeze margins of basmati rice exporters
Earlier, Basmati rice was subject to VAT in some states and nil duty in others
 "GST impact: 5% rate to squeeze margins of basmati rice exporters")
NCDEX's chana contracts do Rs 91-cr turnover in day 1 of re-launch
Contracts attracted trading volumes of 17,380 tonnes
 "NCDEX's chana contracts do Rs 91-cr turnover in day 1 of re-launch")
India to topple US to become no 2 mkt for De Beers' Forevermark diamonds
Sales volumes to increase up to 130,000 pieces; country's share in global sales to go up to 25%
 "India to topple US to become no 2 mkt for De Beers' Forevermark diamonds")
Vegetable oil import up 15% in June at 1.34 million tonnes
India imports about 60% of its edible oil requirement
Domestic sugar prices to move up on import duty hike: Icra
Global sugar prices fall, improved outlook for domestic sugar production prompted govt to hike duty
 "Domestic sugar prices to move up on import duty hike: Icra")
Scrap jewellery sales won't be affected by 3% GST levy
Jewellers say consumers can offset input credit on purchase of new jewellery against the old one
 "Scrap jewellery sales won't be affected by 3% GST levy")
Demand security equally important for oil firms: Pradhan in Istanbul
At the Petroleum Congress, Union petroleum minister again pushes for 'responsible pricing'
 "Demand security equally important for oil firms: Pradhan in Istanbul")
After Sebi nod, NCDEX to re-launch chana futures on Friday
In June 2016, Sebi had directed NCDEX to discontinue chana futures to prevent further price hike
 "After Sebi nod, NCDEX to re-launch chana futures on Friday")
Demand security equally important for oil firms: Pradhan in Istanbul
Says rising middle-class in emerging Asian countries will drive demand for energy sector
 "Demand security equally important for oil firms: Pradhan in Istanbul")
Dairy sector growth to stay high for now
Capacity expansion and brand building to improve margins
 "Dairy sector growth to stay high for now")
Sugar stocks up on import duty hike
Govt increased import duty to 50%, from existing 40%, to restrict cheap inward shipments
Sugar output may rise 25% in 2017-18 season
Import duty hike to curb overseas supply isn't required as prices have been under control
 "Sugar output may rise 25% in 2017-18 season")
Farmers worried as cotton yield may be hit this year due to poor rains
Farmers keep their fingers crossed, rainfall in the July - August period crucial for plant growth
 "Farmers worried as cotton yield may be hit this year due to poor rains")
Monsoon might make strong comeback over Central India this week
This may rescue pulses, cotton and oilseed sowing; rain revival in the south to take longer
 "Monsoon might make strong comeback over Central India this week")
Gold exchange-traded funds see Rs 200-cr outflow in Q1; asset base down 22%
Equity and ELSS saw an infusion of more than Rs 8,000 crore during the first quarter of 2017-18
Silver reclaims Rs 37,000-mark with a spike of Rs 700 on global cues
Gold held steady at Rs 28,780 per 10 grams
 "Silver reclaims Rs 37,000-mark with a spike of Rs 700 on global cues")
Gold loses sheen, silver plunges below Rs 36,000
Standard gold (99.5 purity) dropped by Rs 390 to conclude at Rs 27,695 per 10 grams
 "Gold loses sheen, silver plunges below Rs 36,000")
Confusion over GST takes a toll on Tamil Nadu tea auctions
Difference in billing systems in Tamil Nadu vis-a-vis other states leaves buyers in a daze
 "Confusion over GST takes a toll on Tamil Nadu tea auctions")
After Sebi nod, ICEX to start live trading again by end of August
Last week, the exchange announced its merger with Ahmedabad-based National Multi-Commodity Exchange
 "After Sebi nod, ICEX to start live trading again by end of August")
Commodity picks: 10 July, 2017
Wheat prices in the Indore market are trading at Rs 1,619 a quintal