Page 300 - Commodity News
Chicken prices rise over ban on cattle sale for slaughter: Assocham
Rising per capita incomes and growth in QSR formats are other key reasons for growing demand
 "Chicken prices rise over ban on cattle sale for slaughter: Assocham")
India's May gold imports surge 4-times from year ago: GFMS
India had imported 25.3 tonnes gold in May 2016
 "India's May gold imports surge 4-times from year ago: GFMS")
Jewellery stocks shine, welcome GST gold rate at 3%
Shares of Delhi-based PC Jeweller traded higher by 10.96 per cent at Rs 558.20 per share on the BSE
 "Jewellery stocks shine, welcome GST gold rate at 3%")
Major decline in gold smuggling cases after demonetisation: Customs
'We have caught a lot of people based on intelligence input', officials said
 "Major decline in gold smuggling cases after demonetisation: Customs")
Madhya Pradesh farmers selling wheat in distress as FCI suspends purchase
Prices crashed to Rs 1,400 a quintal (fair average quality) against its MSP of Rs 1,600 a quintal
 "Madhya Pradesh farmers selling wheat in distress as FCI suspends purchase")
De Beers pins hope on India, China for revival in 2017 jewellery demand
This comes in the back of slowdown in consumption of jewellery in the US
 "De Beers pins hope on India, China for revival in 2017 jewellery demand")
Cotton seed firms no longer need NOC from license providers
This could enable cotton seed manufacturers to develop their own varieties using existing tech
 "Cotton seed firms no longer need NOC from license providers")
Uttar Pradesh likely to miss 8 mt wheat procurement target by a wide margin
However, the current procurement of 3 mt is four times the cumulative procurement clocked in 2016
Gold prices slip to discount ahead of GST rollout
Demand remained tepid with dealers offering a discount of up to $1 an ounce to official prices
Bad news for bullion: High GST rate could take much sheen off gold demand
If demand is affectted, money could flow from idle gold assets to other financial investments
Russia's Alrosa seeks tax benefit for diamond sales in India
Wants parity with Belgian levies to set up office in Mumbai for more sale of rough diamonds
 "Russia's Alrosa seeks tax benefit for diamond sales in India")
Farmer caution slows seed demand
They are waiting for actual monsoon onset after slump in prices of produce
 "Farmer caution slows seed demand")
China emerges as the second-largest importer of gems, jewellery in FY17
Exports to the South Asian country jumped jumped by a staggering 28.48% to $2.48 bn
Vedanta hopes for Lanjigarh expansion nod by 2020
Company expects to increase capacity from existing 4 mtpa to to six million tonne per annum by 2020
 "Vedanta hopes for Lanjigarh expansion nod by 2020")
Oil prices at 3-week low as rising output risks Opec-led output cuts
Opec agreed last week to extend deal to cut production by about 1.8 mn barrels per day until March
 "Oil prices at 3-week low as rising output risks Opec-led output cuts")
Sugar output likely to jump by a quarter on decent monsoon forecast
This could reduce the import demand from the world's biggest consumer of sugar
 "Sugar output likely to jump by a quarter on decent monsoon forecast")
Gold set for first monthly drop since December as Fed rate hike likely
Spot gold may break a support at $1,257 per ounce and fall to the next support at $1,245
 "Gold set for first monthly drop since December as Fed rate hike likely")
India's horticulture output grows 3.2%
Horticulture production has been about 3.2 per cent more than in the previous year
 "India's horticulture output grows 3.2%")
Gold imports shrink 13.5% to $27.4 bn in FY17
Total imports of the precious metal in 2015-16 amounted to $31.7 billion
Commodity picks: 29 May, 2017
Groundnut prices are currently trading at Rs 805 per 20 kg in Junagadh market
