Page 362 - Commodity News
Whitefly pest attacks cotton crop in Punjab
Congress lambasts the SAD-BJP alliance for its failure in preventing the pest attack
 "Whitefly pest attacks cotton crop in Punjab")
Exports of 7 farm commodities fall in May on weak global rates
Cereals, oil meals and dairy & poultry products too recorded negative growth during the month
 "Exports of 7 farm commodities fall in May on weak global rates")
Gold rises on good offtake, silver reclaims Rs 47k level
Standard gold (99.5 purity) moved-up by Rs 15 to end at Rs 31,220 per 10 grams from its previous level of Rs 31,205
 "Gold rises on good offtake, silver reclaims Rs 47k level")
Zinc up by 0.5% as speculators widen positions
Speculators created fresh positions on pick-up in demand from consuming industries at the spot markets
 "Zinc up by 0.5% as speculators widen positions")
Silver futures up by 2% on firm global cues
Speculative position built up by participants, driven by firm global trend, mainly attributed to the rise in prices
 "Silver futures up by 2% on firm global cues")
Gold climbs Rs 96 on positive global cues
Meanwhile, gold was trading higher at $1,365.41 an ounce in Singapore
Oil near two-month low on economic woes; drillers adjust to lower prices
Saudi Arabia's energy minister Khalid al-Falih said the oil market was becoming more balanced in terms of supply and demand
 "Oil near two-month low on economic woes; drillers adjust to lower prices")
 "Commodity picks: 11 July 2016")
Discounts raining for online jewellery customers
Jewelemart.com offers gold-diamond pendant at Rs 999, CaratLane.com locks pure gold at Rs 28,000/10 gms
 "Discounts raining for online jewellery customers")
Sluggish rain likely to lower coffee output by 8% in 2016-17
The fall in coffee output in 2016-17 is mainly coming from Karnataka and Kerala
 "Sluggish rain likely to lower coffee output by 8% in 2016-17")
Silver climbs Rs 800 a kg on global cues, gold down
Gold extends slide for third day, sheds Rs 150 at Rs 30,700 per ten grams as demand from jewellers dries up
 "Silver climbs Rs 800 a kg on global cues, gold down")
 "Discounts soar to record high as gold price hits 3-year high")
Sowing of pulses jumps on good rains, shift from soybean
A strong recovery in the southwest monsoon in the first week of July, with showers being around 35% more than normal, seems to have helped
 "Sowing of pulses jumps on good rains, shift from soybean")
Gujarat rain deficit hits cotton sowing
Rainfall deficiency to hit cotton sowing in India by 50%; prices up 29% in past month
 "Gujarat rain deficit hits cotton sowing")
UP sugar production estimated to breach 75 lakh tonnes in 2016-17
UP, India's leading sugarcane producer, is projected to increase its acreage to 23.35 lakh hectares (LH) during 2016-17
 "UP sugar production estimated to breach 75 lakh tonnes in 2016-17")
India's sugar output may decline by 7% on lower acreage
Total acreage under sugarcane in India is estimated at around 4.99 million hectares (ha) in crushing season 2016-17, which is 5.5% lower than in the year-ago period
 "India's sugar output may decline by 7% on lower acreage")
Gold eases ahead of US jobs data; eyes 6th weekly gain
According to traders, strong jobs data will trigger some short term pain for gold
Oil prices plunge after disappointing stockpile data
Meanwhile, worries about global economic uncertainty after Britain's exit from the European Union continued to weigh on the market
 "Oil prices plunge after disappointing stockpile data")
Oil rebounds from two-month lows, outlook seen volatile
Brent was trading at $46.95, while US WTI crude traded up 0.95% at $45.57 a barrel