Page 305 - Commodity News
Seafood exporters hit hard with rupee rising against dollar
Exporters, who send out $4.7-bn of seafood annually, are reportedly facing losses on each shipment
 "Seafood exporters hit hard with rupee rising against dollar")
Domestic edible oil producers to cut prices by 15%
For existing inventory, companies to offer discount on package's existing MRP
 "Domestic edible oil producers to cut prices by 15%")
Rising rupee may hit steel firms' margins
Industry expects a robust demand with the govt allocating Rs 396k cr to the infra sector in Budget
 "Rising rupee may hit steel firms' margins")
UP govt warns of action on sugar mills on cane arrears
Deadline over but Rs 4,000 cr of dues remain, despite a record Rs 5,200 cr paid since CM's threat
 "UP govt warns of action on sugar mills on cane arrears")
Natural rubber production surges 23% in 2016-17
Officials attributed the increase to the improved market price, initiatives like mass contact programmes
 "Natural rubber production surges 23% in 2016-17")
Low GST rate could hit small jewellers
GST on jewellery would be 2%, which is all that small jewellers may charge from customers
 "Low GST rate could hit small jewellers")
Gold prices dip below Rs 30,000 on weak global cues
Silver declined by Rs 100 to Rs 41,600 per kg on reduced offtake by industrial units
 "Gold prices dip below Rs 30,000 on weak global cues")
Why more Indians will be rushing to buy gold this Akshaya Tritiya
Buying has been robust, with consumers seeing a rising rupee as an opportunity to buy gold
 "Why more Indians will be rushing to buy gold this Akshaya Tritiya")
More gain ahead for silver
In the futures segment of the MCX, silver prices had fallen by 15 per cent in the Dec quarter
 "More gain ahead for silver")
Discounts raining this festive season on jewellery sales
Normally, offers are given in lean season but jewellers want to capture maximum sales this season
 "Discounts raining this festive season on jewellery sales")
MCX cotton volume soars to highest turnover of Rs 407 cr
Big apparel companies like Arvind have increased their hedging for cotton requirement on MCX
 "MCX cotton volume soars to highest turnover of Rs 407 cr")
Gold reclaims Rs 30,000-mark on global cues, jewellers buying
Adds Rs 200 per 10 grams on firm global trend; silver sheds Rs 100 on lower industrial offtake
 "Gold reclaims Rs 30,000-mark on global cues, jewellers buying")
Groundnut oil exports could take a hit over high domestic prices
Groundnut in short supply despite good output; farmers hold on to stocks as they seek better prices
 "Groundnut oil exports could take a hit over high domestic prices")
Best may be behind for sugar stocks
UP-based sugar producers better placed to continue with a stronger balance sheet on declining debt
 "Best may be behind for sugar stocks")
From June, only BIS certified gold refineries can import dore
Dore or unrefined gold in India so far can be imported by any dore refinery only
 "From June, only BIS certified gold refineries can import dore")
Boost seen for cotton sowing on good realisations, normal monsoon
Production this season has been 34 mn bales, from 33 mn in previous year, though crop area was less
 "Boost seen for cotton sowing on good realisations, normal monsoon")
Basmati sowing likely to go up 25% in FY18 on high demand, normal monsoon
The industry expects Iran to purchase at least 1 million tonnes this financial year
 "Basmati sowing likely to go up 25% in FY18 on high demand, normal monsoon")
Power sector to fuel Coal India's e-auction price
Higher global price may add spark
 "Power sector to fuel Coal India's e-auction price")
Top six companies drive steel output growth
Biggers players overcame muted demand through increasing exports, say experts
 "Top six companies drive steel output growth")
Akshaya Tritiya date for sovereign gold bonds
The issue price of the gold bonds will be Rs 50 per gram, less than the nominal value
 "Akshaya Tritiya date for sovereign gold bonds")