Page 307 - Commodity News
Major oil marketing companies mull daily fuel price change
This will help India move to an international standard of fuel pricing
 "Major oil marketing companies mull daily fuel price change")
Raise minimum support price for pulses, says CACP
Ministry of agriculture would examine proposals and then send it to the Cabinet
 "Raise minimum support price for pulses, says CACP")
MCX to appoint auditor for IT policy administration
This, after allegations against NSE for preferring some brokers over other market participants
 "MCX to appoint auditor for IT policy administration")
GST uncertainty clouds gold demand and import
The import bill at end-February was $23.3 billion, for 558 tonnes of import
 "GST uncertainty clouds gold demand and import")
Rising risks on export front may dent fortunes of steel players
With domestic growth tepid, analysts sceptical about sustainability of price hikes
 "Rising risks on export front may dent fortunes of steel players")
After PM push, jewellers devise strategy to achieve $60 bn export target
India's gems and jewellery exports reported a sharp decline in recent years
 "After PM push, jewellers devise strategy to achieve $60 bn export target")
Heavy rain helps Assam tea industry clear stock, but production to decline
In 2016, the Indian tea industry registered a bumper crop at 1,233 million kg
 "Heavy rain helps Assam tea industry clear stock, but production to decline")
Duty-free import of 500,000 tonnes raw sugar till June 12
At present, India levies an import duty of 40% on sugar
 "Duty-free import of 500,000 tonnes raw sugar till June 12")
MCX commences futures trading in RBD palmolein
Palm oil accounts for 70% of the total edible oil imports
Heavy rain helps Assam tea industry clear stocks, but production to decline
Darjeeling bears the brunt, as higher prices will be more than offset by lower production revenues
 "Heavy rain helps Assam tea industry clear stocks, but production to decline")
India allows duty-free import of 500,000 tonnes of raw sugar
Move comes as drought curtails production below consumption levels for first time in 7 years
In Madhya Pradesh, market rates for wheat soar past govt's support price
FCI faces stiff competition from private entities in Madhya Pradesh on wheat procurement
 "In Madhya Pradesh, market rates for wheat soar past govt's support price")
Jewellers devise strategy to achieve $60-bn export target in 5 years
Target grows almost 100% from 2015-16 via increased focus on value addition, brand promotion
 "Jewellers devise strategy to achieve $60-bn export target in 5 years")
Steel firms hit record sales, meet production targets
The steel industry is seeing a demand pick-up in construction, automobiles and white goods, sectors
 "Steel firms hit record sales, meet production targets")
FCI faces stiff competition from private players for wheat procurement
FCI has also started setting up camps near major harvesting centres
Select vegetables' prices crash on farmers' rush for sale
Huge arrivals from Gujarat and MP increase supply; farmers fear higher spoilage on rise in temp
 "Select vegetables' prices crash on farmers' rush for sale")
Potato recovers in West Bengal after state govt starts procurement
Farmers in Uttar Pradesh seeks sops or minimum purchase price assurance similar to Bengal govt
 "Potato recovers in West Bengal after state govt starts procurement")
Gold imports cross 560 tonnes in 10 months of FY17
Gold imports dipped by about 30% to $2.04 bn in Jan as against $2.91 bn in the same month last year
India may be out of step with world gold rally
Experts say the yellow metal may test $1,475 by the year end
Natural rubber import drops in February as prices increase in key markets
Consumption dropped to around 83,000 tonnes in February
 "Natural rubber import drops in February as prices increase in key markets")