Page 361 - Commodity News
Uptick in demand lifts sugar futures by 0.47%
Sugar for delivery in July was trading higher by Rs 17, or 0.47%, to Rs 3,620 per quintal, with an open interest of 2,620 lots
 "Uptick in demand lifts sugar futures by 0.47%")
Edible oil import growth likely slow at 10%
Higher import in previous year would help control prices of cooking oil
 "Edible oil import growth likely slow at 10%")
Excise relief to jewellers to end with implementation of GST
They also want the government to increase the limit for mandatory PAN card for purchases over Rs 5 lakh instead of existing Rs 2 lakh
 "Excise relief to jewellers to end with implementation of GST")
Select pulses slide on adequate stocks, low demand
Strengthening rupee against the dollar which made imports cheaper also influenced the sentiment to some extent
 "Select pulses slide on adequate stocks, low demand")
Gold futures fall Rs 232 on weak global cues, profit-booking
Gold prices in global market retreated as much as 0.40% to $1,337.54 an ounce in Singapore today
 "Gold futures fall Rs 232 on weak global cues, profit-booking")
Gold eases ahead of BoE policy
Investors bet the BoE will cut interest rates for the first time in more than seven years
 "Gold eases ahead of BoE policy")
Maharashtra vegetable prices skyrocket
Supply disruptions fuel price rise as wholesalers go on an indefinite strike
 "Maharashtra vegetable prices skyrocket")
Cotton output may fall to 5-year low
Whitefly attack damages crop in Punjab and Haryana; lack of rains threatens production in Gujarat and Maharashtra
 "Cotton output may fall to 5-year low")
Copper surges to $5,000/tonne on China demand
Nickel price highest since Oct, zinc hits 13-month high
 "Copper surges to $5,000/tonne on China demand")
Jump in sugar prices, drop in output pull out most UP sugar mills from red
Centre's soft loan and SARFAESI loan amounting to around Rs 10,000 cr disbursed over the last few years has also helped in easing the dues
Oil drops as investors lock in gains; surprise US stockpile build
Brent futures fell 37 cents to $48.10 a barrel, US Crude dropped 28 cents to $46.52 a barrel
 "Oil drops as investors lock in gains; surprise US stockpile build")
Oil settles up 5%, trims gains after hours on API report
American Petroleum Institute reported larger-than-expected gains in inventories of gasoline and distillates
 "Oil settles up 5%, trims gains after hours on API report")
Global research houses revise commodity price outlook upward
They see demand outweighing supplies that were curtailed over the past few quarters across commodities
 "Global research houses revise commodity price outlook upward")
Textiles ministry giving out less for tech upgrading
The government announced a Rs 6,000-crore package for the sector to generate 10 million jobs and boost exports by $30 billion
 "Textiles ministry giving out less for tech upgrading")
Silver up 0.3% on global cues
Metal for delivery in far-month December was up by Rs 113, or 0.23%
 "Silver up 0.3% on global cues")
Crude palm oil falls by 0.8% on sluggish demand
Traders trimmed their positions, tracking a weak trend at spot market on sluggish demand
 "Crude palm oil falls by 0.8% on sluggish demand")
Muted demand drags down cardamom futures by 1.5%
Traders lightened their positions to book profits amid easing demand in the spot market
 "Muted demand drags down cardamom futures by 1.5%")
Nickel up by 0.8% on positive global cues
Speculators enlarged positions on positive cues from global markets
 "Nickel up by 0.8% on positive global cues")
Oil prices rise on Iraq loading worries; bearish investors cap gains
Oil price gains have, however, been limited with financial players betting on price falls, or shorting the crude market
 "Oil prices rise on Iraq loading worries; bearish investors cap gains")
Centre forms panel on pulses crisis, expands buffer stock
Importers accuse domestic traders of pushing up prices
 "Centre forms panel on pulses crisis, expands buffer stock")