Page 298 - Commodity News
Paper mills seek dumping duty
India has 15.2 million tonnes of paper and newsprint manufacturing capacity
 "Paper mills seek dumping duty")
World steel output in May jumps to 143 million tonnes
Crude steel capacity utilisation ratio of 67 countries stood at 71.8%
 "World steel output in May jumps to 143 million tonnes")
Exporters seek incentives from govt to boost shipments, says Rita Teaotia
Under MEIS, the government provides duty benefits at 2%, 3% and 5%
 "Exporters seek incentives from govt to boost shipments, says Rita Teaotia")
India's fruits, vegetables exports to Qatar rise by 15% in two weeks
Many cargo airlines have delivered goods in large quantities to Qatar in the last two weeks
 "India's fruits, vegetables exports to Qatar rise by 15% in two weeks")
Price hikes in Ether and Bitcoin are not signs of a bubble
Bitcoin is used for payments and Ether automates any number of processes using smart contracts
 "Price hikes in Ether and Bitcoin are not signs of a bubble")
Cocoa prices decline 30-40% on last season's bumper crop, low global demand
A slowdown in demand from domestic chocolate manufacturers adds to farmers' woes
 "Cocoa prices decline 30-40% on last season's bumper crop, low global demand")
Rally in equity moves traders out of commodity futures
Daily average turnover of MCX and NCDEX declines by 33% and 46% respectively since July '16
 "Rally in equity moves traders out of commodity futures")
Gold plunges to nearly 3-week low of Rs 29,100 amid slump in demand
Silver also eased by Rs 100 to Rs 38,700 per kg backed by reduced offtake by industrial units
Price fall: Centre to buy 200,000-tonne onions from Madhya Pradesh
Excess supply amid low demand led to crash in prices, which has hit farmers revenues
 "Price fall: Centre to buy 200,000-tonne onions from Madhya Pradesh")
Commodity picks: 19 June, 2017
Maize prices in Nizamabad are trading at Rs 1,509 a quintal
Sugar mills seek increase in duty to curb unwanted imports
Global price crash makes raw sugar viable even at 40% duty, mills' supply glut due to cheap import
 "Sugar mills seek increase in duty to curb unwanted imports")
GST effect? Gold import to nosedive in June after reaching 2-yr high in May
Reason for high import was that traders wanted to replace gold that was not earlier shown on books
 "GST effect? Gold import to nosedive in June after reaching 2-yr high in May")
Diesel imports in 2017 may rise to highest since at least 2011
India is a net exporter of diesel with production usually enough to meet demand, limiting imports
 "Diesel imports in 2017 may rise to highest since at least 2011")
Bullion bank coming up:Comprehensive gold policy on cards
Aims to ensure higher level of transparency
 "Bullion bank coming up:Comprehensive gold policy on cards")
India's gold imports surge 3-fold to $4.95 bn in May
Silver imports too jumped to $442.9 million in May from $39.54 million in the same month last year
 "India's gold imports surge 3-fold to $4.95 bn in May")
Seafood exports to grow above 20% in FY18
Exporters are upbeat despite major importing countries adopting protectionist measures
 "Seafood exports to grow above 20% in FY18")
April, May show pick-up in steel consumption
Consumption of finished steel has increased by 4.2% on a year-on-year basis to 13.8 million tonnes
 "April, May show pick-up in steel consumption")
Oil imports from Iran plunge to lowest level since June over gas field row
This is in possible retaliation for Tehran not awarding a gas field development to Indian companies
 "Oil imports from Iran plunge to lowest level since June over gas field row")
Oil hits six-week low as Opec fails to curb oversupply
Crude prices have fallen about 12 per cent since May 25
 "Oil hits six-week low as Opec fails to curb oversupply")
GST regime: Grain merchants shut shops as protest against 5% tax
Fearing significant rise in essential commodities, merchants demand lower tax
 "GST regime: Grain merchants shut shops as protest against 5% tax")