Page 320 - Commodity News
Rabi sowing nears end with higher area compared to drought year
Till January 20, rabi crops have been sown in 62.83 million hectares, 6% more than last year
 "Rabi sowing nears end with higher area compared to drought year")
Sebi asks exchanges to list commodities for curbs in futures trading
This will come into effect from April 1
 "Sebi asks exchanges to list commodities for curbs in futures trading")
Gold prices decline by Rs 70 on easing demand, silver recovers
Globally, gold rose 0.12% to $1,206 an ounce in Singapore
 "Gold prices decline by Rs 70 on easing demand, silver recovers")
Jewellery exports to US rise 7.8% in October-December
Shipments to the US rose to $2.52 billion in the December quarter
 "Jewellery exports to US rise 7.8% in October-December")
India's US jewellery sales rise 7.8% in Oct-Dec quarter
Shows revival in consumerism in US, markets await Trump's economic policy for sustaining this growth
India rules out lowering sugar import tax for now: Govt source
Prices in the local market have risen more than 10% in a month on an expected drop in production
 "India rules out lowering sugar import tax for now: Govt source")
Maintain gold allocation at 5-10%: Dhaval Kapadia
Kapadia is Director-Portfolio Strategist, Morningstar Investments Adviser India Pvt. Ltd
Cash is still king in diamond market, DeBeers woos buyers with concessions
De Beers to offer customers concessions for a second consecutive buying round to support the market
 "Cash is still king in diamond market, DeBeers woos buyers with concessions")
Govt alarmed at rising sugar prices, draws up continegency plan
ISMA warns mills against speculation, wants sales data, stock positions on fortnightly basis
 "Govt alarmed at rising sugar prices, draws up continegency plan")
Oil slides on prospect of rising US production
While the Opec signalled a drop in the global oil supply surplus this year
 "Oil slides on prospect of rising US production")
Cotton price rally may continue on tight supply
Traders and ginners says farmers want cash rather than cheques
 "Cotton price rally may continue on tight supply")
Slow exports to China, sales hit yarn makers' investments
Demonetisation-induced cash crunch has led to the closure of smaller spinning mills
 "Slow exports to China, sales hit yarn makers' investments")
Over a third of Maharashtra's sugar mills shut on lower cane availability
Sugar output in the state down 28% to 3.14 mn tonnes as of Jan 15; wholesale prices surge 5%
 "Over a third of Maharashtra's sugar mills shut on lower cane availability")
Oil price rises on weaker dollar, Saudi commitment to cut output
Gains were also capped due to rising US production
NCDEX issues norms to address cartelisation
The exchange guidelines clarify the definition of 'persons acting in concert'
 "NCDEX issues norms to address cartelisation")
As demand swells, Robusta beans prices rise to $2,200 per tonne
Economic slowdown forces customers to switch from Arabica to less expensive coffee
 "As demand swells, Robusta beans prices rise to $2,200 per tonne")
Trump, Brexit worries push gold to highest in almost 8 weeks
It's the uncertainty on Brexit that has created the risk-off environment which has benefited gold
 "Trump, Brexit worries push gold to highest in almost 8 weeks")
Gold rebounds on global cues, local demands
Silver advanced by Rs 100 to Rs 41,300/kg on pick-up in demand from industrial units, coin makers
Dairies' margins under pressure on 20% hike in milk procurement cost
At the farm gate, cost has risen by at least a fifth this year
 "Dairies' margins under pressure on 20% hike in milk procurement cost")
Oil prices slip on doubts over planned output cuts
Russia and other key exporters outside OPEC have said they will also cut output
 "Oil prices slip on doubts over planned output cuts")