Page 303 - Commodity News
Finance ministry drafting rules for Bitcoin, other virtual currencies
Cases of misuse of virtual currencies are rising as fast as their prices are
 "Finance ministry drafting rules for Bitcoin, other virtual currencies")
Bullion industry banks on OECD norms to avoid importing conflict gold
Conflict gold, mined for financing wars and illegal activities, comes largely from African countries
 "Bullion industry banks on OECD norms to avoid importing conflict gold")
Oil below $40 a barrel doesn't seem far-fetched
About $7 million worth of options changed hands Friday
 "Oil below $40 a barrel doesn't seem far-fetched")
Falling commodity prices take sheen off margins
Producers, consumer industry play hardball to protect interest
 "Falling commodity prices take sheen off margins")
Tug-of-war between metal producers and consumers
Companies scramble to protect margins as commodity prices fall
 "Tug-of-war between metal producers and consumers")
Australia opens doors to Kesar mango exporters
Australian authority revises protocol to allow Indian irradiated mango, okays two treatment units
 "Australia opens doors to Kesar mango exporters")
Pulses import to fall by 20% in FY18 on better domestic output
Huge orders placed by importers last year had to be honoured even after crop improved, post drought
 "Pulses import to fall by 20% in FY18 on better domestic output")
US extends duty on Indian shrimp exports for 5 years
The ASPA welcomed the extension of the anti-dumping orders
 "US extends duty on Indian shrimp exports for 5 years")
New policy to help, but core sector must use more steel
The policy is the second initiative by the Centre to revive the steel industry
 "New policy to help, but core sector must use more steel")
Gold demand up 100% on Akshaya Tritiya, highest ever since 2013
Apprehension of high GST forces jewelers to bring all gold stock on books
 "Gold demand up 100% on Akshaya Tritiya, highest ever since 2013")
Prices of agricultural commodities nosedive on robust supply
Experts say the downward trend in prices may continue as demand is unlikely to recover in May
 "Prices of agricultural commodities nosedive on robust supply")
Egypt has contracted to import 20,000 tonnes of Indian rice
The Egypt government did not explain why it had contracted to buy the rice
 "Egypt has contracted to import 20,000 tonnes of Indian rice")
Rabi oilseeds production estimates up by over 18%: SEA
According to SEA estimates, total area under rabi oilseeds has gone up by 7.2% in 2016-17
 "Rabi oilseeds production estimates up by over 18%: SEA")
Pulses import grew 20 per cent to 5.67 million tonnes in FY17
With record high production of 22.14 million tonnes, availability increased by 27.8 mn tonnes
 "Pulses import grew 20 per cent to 5.67 million tonnes in FY17")
Brent crude falls to 5-month low, erases gains since Opec agreed to cuts
Opec's compliance with the output cuts fell to 90% in April from a revised 92% in March
 "Brent crude falls to 5-month low, erases gains since Opec agreed to cuts")
Wheat buy in 2017-18 crosses last year's total
Centre estimates wheat production in 2017-18 crop year to be at an all-time high of around 98 mt
 "Wheat buy in 2017-18 crosses last year's total")
Cotton output set to rise with increased sowing globally
Mills in India caught on wrong footing as prices remained elevated, imports also rising
 "Cotton output set to rise with increased sowing globally")
Paytm sells over 30 kgs of 'digital gold' in six days
Last week, digital gold scheme was launched allowing customers to buy, sell gold through Paytm
 "Paytm sells over 30 kgs of 'digital gold' in six days")
Jute packing rule might be relaxed this week, after industry protest
However, Jute mills could take a loss of Rs 2,000 crore in 2017-18, if the order is relaxed
 "Jute packing rule might be relaxed this week, after industry protest")
Biggest gold miner ETF just saw largest outflows on record
Investors yanked $778 million from VanEck Vectors fund and $217 million from SPDR Gold Shares ETF
 "Biggest gold miner ETF just saw largest outflows on record")