Page 308 - Commodity News
Low prices, rising costs cast a shadow on steel companies
Sluggishness in real estate, construction likely to keep steel prices low, says ICRA
 "Low prices, rising costs cast a shadow on steel companies")
30% rise in milk procurement cost hits dairy firms' margins
Since November, milk procurement prices have shot up 30% to Rs 28-29 a litre across the country
 "30% rise in milk procurement cost hits dairy firms' margins")
Tur price up 7% in spot mandis on import duty levy
However, imports from LDCs, which enjoy preferential treatment, to continue as they are duty free
 "Tur price up 7% in spot mandis on import duty levy")
Crude oil price rises on weak dollar
Traders said Brent rebounded from testing a $50 a barrel support on Monday
 "Crude oil price rises on weak dollar")
Indian gold jewellery exports down 47% in Feb on lower offtake from Gulf
5% import duty levy by the UAE hits jewellery shipment, exporters seek cut on gold import duty
 "Indian gold jewellery exports down 47% in Feb on lower offtake from Gulf")
Jeera prices to hit two-month high on firm global demand, lower output
April, May contracts post sizeable gains as rains destroy crops, lower Gujarat acreage pares output
 "Jeera prices to hit two-month high on firm global demand, lower output")
ITC hopes wheat imports to remain near decade high
World's second-biggest consumer of wheat on Tuesday imposed a 10% duty on imports
 "ITC hopes wheat imports to remain near decade high")
India imposes import duty on wheat, tur dal
Import duty on wheat will help farmers get better price; it was abolished in December 2016
 "India imposes import duty on wheat, tur dal")
Supply hit hard after UP meat crackdown; prices to soar after Navratra
Some suppliers from Uttar Pradesh have also stopped sending goats fearing attacks by vigilantes
 "Supply hit hard after UP meat crackdown; prices to soar after Navratra")
Coking coal prices to stabilise at $140-150 per tonne
In 2016, international coking coal prices were at a peak of $308 a tonne
 "Coking coal prices to stabilise at $140-150 per tonne")
Govt imposes 10% import duty on wheat, tur dal
The estimated revenue implication of this decision is about Rs 840 crore
 "Govt imposes 10% import duty on wheat, tur dal")
Nine years after ban, govt allows export of edible oil in bulk
Producers realisations to improve, area under oilseeds likely to rise
 "Nine years after ban, govt allows export of edible oil in bulk")
US cut in anti-dumping duty on shrimps to boost exports
New rate applies to 229 exporters not targeted for individual examination
 "US cut in anti-dumping duty on shrimps to boost exports")
Castor prices decline 2.5% as cash margin goes up
NCDEX levies 20% special cash margins effective Monday
 "Castor prices decline 2.5% as cash margin goes up")
South India might face sugar deficit this season due to lower output
Traders insist on meeting shortage through supply from other states
 "South India might face sugar deficit this season due to lower output")
Gold glitters near 29K level; silver tops Rs 42K
Spot gold was up 1.1 per cent at $1,257.08 an ounce at early trade
 "Gold glitters near 29K level; silver tops Rs 42K")
Crude price volatility to stay
Another possible rate increase from Federal Reserve by mid-year may boost dollar, impact oil prices
 "Crude price volatility to stay")
BIS declines plea on mandatory hallmarks for silver articles
Plea has been declined as the hallmarking scheme for silver is voluntary
 "BIS declines plea on mandatory hallmarks for silver articles")
Lower output pushes castor prices up 21% this month
Hopes of good export demand for castor oil and meal fueled the rise
 "Lower output pushes castor prices up 21% this month")
Indian basket of crude oils goes below $50 a barrel
Analysts said the rising output also weighed on the production reduction by the OPEC and its allies
 "Indian basket of crude oils goes below $50 a barrel")