Page 302 - Commodity News

A firm that nearly sank in 2015 is reviving activity in largest US oilfield

US oil output has jumped to 9.31 million bpd this year, up 440,000 bpd from 2016

Centre directs states to lift stockholding limit on pulses

Provision has been removed as prices have dropped below MSP while supplies are adequate

India's palm oil import spurts 2.25% in April

India, the world's leading vegetable oil buyer, had imported 7,36,036 tonnes palm oil in April 2016

Global platinum supply likely to fall 2% this year

Total demand is 5-6% of global, coming mostly from jewellery and auto sectors, at 420 Koz

Sugar mills want complete exemption from packing in jute bags

As of now, 20% of the sugar has to be compulsorily packed in jute bags

Gold inches higher, silver crosses Rs 39,000 mark on global cues

Silver recaptured Rs 39,000-level by rising Rs 295 per kg on increased off take by industrial units

Maharashtra govt suspends 17 firms' sale of Bt cotton seed

As samples of non-Bt hybrids, taken in May-July of 2016, have shown the presence of Bt seed

Oil prices jump as Saudi Arabia, Russia extend supply cut to March 2018

Brent crude was at $51.66 per barrel at 0410 GMT, up 82 cents, or 1.6%, from its last close

Commodity picks: 15 May, 2017

Cotton prices corrected in recent weeks; Cardamom prices in Vandanmedu trading at Rs 1,239 per kg

India Ratings retains negative outlook for steel sector in FY18

The capacity utilisation is also expected to remain low at around 75 per cent in FY18

Jewellers rush to bring unaccounted gold on to books

Over 300 tonnes of jewellery made legitimate in last four months as GST deadline nears

Silver jewellery sees India-led recovery

Fall led by China, India where jewellery offtake was weaker due to higher prices, build-up of stocks

Solar sector revives sagging demand for silver, but party may not last

Use in photovoltaic plates up 34% in 2016, but falling solar power prices make silver a costly input

India imposes anti-dumping duty on 47 steel products for 5 years

Between April 2016 and January, India's steel imports fell 38 per cent year-on-year

April gold import at 75 tonnes

This Akshaya Tritiya day, 35-40 tonne of gold and jewellery is estimated to have been sold

Chana prices stay above MSP as farmers hold on to produce

Chana is cultivated primarily during rabi season

Steel, metal firms announce Rs 1.4 lakh-cr capex as fundamentals improve

Two-thirds of these investments are from JSW Steel, Tata Steel and Bhushan Steel

Cotton prices to remain stable in Q1FY18; will buck usual trend: Ind-Ra

GST, demonetisation, more acreage, global demand will balance out effects, says the ratings agency

Tough times ahead for Odisha metal industries as state doubles energy duty

Odisha has half the nation's aluminium capacity and nearly 80% of the ferrochrome capacity

Bt cotton: Centre to soon allow commercial use of 3 locally made varieties

The three variants are expected to be priced lower than current ones; seeds would be reusable