Page 316 - Commodity News
Indian rose exporters cheer Valentine's Day
Shipping to Europe, West Asia and Australia begins a week ahead
 "Indian rose exporters cheer Valentine's Day")
Despite slowdown, steel firms put up stellar performance
Lower domestic demand a major roadblock; exports provide relief
 "Despite slowdown, steel firms put up stellar performance")
Wheat imports rise to a decade high of over 5 mn tonnes
February arrivals have already hit close to 4,00,000 tonnes
 "Wheat imports rise to a decade high of over 5 mn tonnes")
Rio to hand over diamond mine to Madhya Pradesh
The Bunder project was closed as Rio sought to cut costs and conserve cash
 "Rio to hand over diamond mine to Madhya Pradesh")
Sugar price hits the highest in Mumbai on lower release
According to trade sources, a handful of traders stored a large quantity of sugar during lean season
 "Sugar price hits the highest in Mumbai on lower release")
Centre to appoint settlement banker for pan-Indian tea auction
The module of the pan-Indian e-auction was rolled out by the Tea Board in June 2016
 "Centre to appoint settlement banker for pan-Indian tea auction")
Drought in Kenya to boost Indian tea prices
Kenyan CTC prices rose by 30% in January to $3.31 a kg
 "Drought in Kenya to boost Indian tea prices")
Govt nod for professional agency to manage pulses buffer stock
Adequate capacity of storage of pulses is available with the Central Warehousing Corporation
 "Govt nod for professional agency to manage pulses buffer stock")
NCDEX tightens deposit operations at warehouses audit checks
Exchange says, this will help in stronger control and make process less vulnerable to manipulation
 "NCDEX tightens deposit operations at warehouses audit checks")
Raw jute prices fall on dilution plan, lesser supplies
Prices have tanked to Rs 36,650 a tonne currently from Rs 56,520 in July 2016; may plunge further
 "Raw jute prices fall on dilution plan, lesser supplies")
Gold hits highest since Nov on uncertain US political landscape
Political uncertainty in the United States has been fueled by President Donald Trump's policies
 "Gold hits highest since Nov on uncertain US political landscape")
Move over onion, better-yielding garlic lures Madhya Pradesh's farmers
Bumper crop expected; prices could fall on higher supply
 "Move over onion, better-yielding garlic lures Madhya Pradesh's farmers")
Oil steadies near $57 on ample US supply
Despite the Opec cuts, US crude inventories rose by more than expected last week
 "Oil steadies near $57 on ample US supply")
Banks ask jewellery industry to improve transparency, governance
Say payments discipline was high 10 years ago, but many defaulted after the global financial crisis
 "Banks ask jewellery industry to improve transparency, governance")
Hallmarking restrictions push gold biz to informal sector
A BIS notification limits hallmarking of ornaments to three purities of gold
 "Hallmarking restrictions push gold biz to informal sector")
Budget proposal on agri commodities revives hope for BSE-IBJA gold exchange
A gold exchange was first proposed by the IBJA with the BSE as an equity partner
Gold surges to top Rs 29,000-level, silver regains Rs 42,000 mark
Surge was on the back of increased buying by jewellers to meet the ongoing wedding season demand
 "Gold surges to top Rs 29,000-level, silver regains Rs 42,000 mark")
Utilisation of gold refineries shrinking due to lack of scrap gold
Less than 400 tonnes of gold are being refined a year, against all-India capacity of 1,700 tonnes
 "Utilisation of gold refineries shrinking due to lack of scrap gold")
Commodity picks: 6 February, 2017
Mustard seed prices at Jaipur spot markets are trading at Rs 4,160 per quintal
Demonetisation lowers India's gold demand to 7-year low in 2016
India's gold demand fell by 15% to $27.2 billion in calendar 2016 from $32 billion in 2015
 "Demonetisation lowers India's gold demand to 7-year low in 2016")