Page 301 - Commodity News
Jewellers to take 12-18 months to stabilise post GST: World Gold Council
Council wants govt to mark gold in the 6-7% taxation slab
 "Jewellers to take 12-18 months to stabilise post GST: World Gold Council")
Rubber Board targets 1 million tonne output
Production expected to reach 8,00,000 tonnes in FY18
 "Rubber Board targets 1 million tonne output")
Basmati exporters expect higher output on good monsoon forecast
No change seen in shipment volumes; basmati output in the country is roughly 6.6 million tonnes
 "Basmati exporters expect higher output on good monsoon forecast")
Shrimp exporters to move US trade body for full waiver of anti-dumping duty
US is the largest importer of Indian seafood with 28% share in dollar terms, at $1,334 mn in 2015-16
Rubber Board eyes mn-tonne output next year on stronger input supply-chain
April output up 23% y-o-y, Board to bring untapped areas into cultivation in bid to surpass targets
 "Rubber Board eyes mn-tonne output next year on stronger input supply-chain")
UAE heads to OPEC, backs oil output cut extension
Optimistic about statements, meetings between the Saudi-Russian sides, says UAE's Energy Minister
 "UAE heads to OPEC, backs oil output cut extension")
Stop charging premium from Asian buyers: India to Opec
With increasing demand & consumption, India is increasing imports and also its refining capacity
No need for local partners, global firms can now bid in tobacco auctions
Move likely to provide relief to growers who suffered sharp fall in tobacco prices few years ago
 "No need for local partners, global firms can now bid in tobacco auctions")
Rubber production rises 23.1% in April
Rubber Board aims to meet current demand of 10 lakh tonnes through domestic production
 "Rubber production rises 23.1% in April")
Commodity picks: 22 May, 2017
Soyabean is trading at Rs 2,986 a quintal in the Indore markets
GST rollout: Gems & jewellery industry fully ready for July implementation
Industry hopes that the Centre would levy only 1.25% tax on the sector
 "GST rollout: Gems & jewellery industry fully ready for July implementation")
Gold tops Rs 29,000 mark on risk-off sentiment
Globally, gold rose by 0.31% to $1,250.70 an ounce and silver 0.85% to $16.69 an ounce in Singapore
 "Gold tops Rs 29,000 mark on risk-off sentiment")
Onion acreage may shrink owing to weak prices
According to NHRDF data, model prices of onion were Rs 615 per quintal in January
 "Onion acreage may shrink owing to weak prices")
Gold smuggling back on track as cash availability improves
Gold smuggling has been on the rise after government increased the import duty on it
 "Gold smuggling back on track as cash availability improves")
Copper futures fall 0.61 % on low demand
Fall in copper futures trade is due to cutting short of positions by participants and muted demand
 "Copper futures fall 0.61 % on low demand")
After Q1 spike, gold imports to drop sharply under GST, says WGC
India is the world's second largest gold consumer after China
Govt plans to enhance pulses milling capacity
India has about 10,000 pulses mills, with each having production capacity of 10-20 tonnes a day
 "Govt plans to enhance pulses milling capacity")
Darjeeling tea trade turns cold on strong rupee
As prices of the first flush Darjeeling tea have surged by 15-25% in the international market
 "Darjeeling tea trade turns cold on strong rupee")
Soybean, soyoil futures rise on hopes of good monsoon rains
Soyoil futures were up 0.32% at Rs 633, while soybean was up 1.6% at Rs 2,855
 "Soybean, soyoil futures rise on hopes of good monsoon rains")
Gold dearer by Rs 160 per gram, Silver crosses Rs 39,000 per kg
A shaky dollar and domestic demand gave the precious metals some traction among investors