Page 370 - Commodity News
Silver futures fall on weak overseas cues
Speculators trimmed their exposure amid a weak trend in global markets
 "Silver futures fall on weak overseas cues")
Palm oil imports fall 28% on higher stock, lower demand
Palm oil make up more than 65 per cent of the country's total vegetable oil imports
 "Palm oil imports fall 28% on higher stock, lower demand")
Indonesia raises quality issue for groundnut export
Groundnut exports stagnated at 536,929 tonnes in 2015-16, after a sharp decline from 2013-14 when these were a record of 708,386 tonnes, worth $760 million
 "Indonesia raises quality issue for groundnut export")
Jewellers offer incentives to beat slowdown in sales
The absence of festivals and weddings has hurt sales, even as farmers are holding off on encashing gold for seeds and fertilisers due to a delayed monsoon
 "Jewellers offer incentives to beat slowdown in sales")
 "Cotton acreage seen falling to 7-year low")
Assam tea industry demands concessional tax rate under GST
Submits a memorandum to empowered committee on GST, giving point-by-point reasons why taxation of tea should be concessional
 "Assam tea industry demands concessional tax rate under GST")
Tomato prices double to Rs 80/kg on sluggish supply
In Mumbai, rates rose to Rs 58 per kg from 38 per kg while in Delhi, prices surged to Rs 51 per kg from Rs 25 per kg
 "Tomato prices double to Rs 80/kg on sluggish supply")
Sugar price climbs on robust demand, tight supply
Sugar prices in the retail market have been quoting between Rs 42 and Rs 45 per kilo in the national capital
 "Sugar price climbs on robust demand, tight supply")
Copper rises by Rs 2 on global cues
Copper for three-month delivery gained 1% to $4,557 a metric tonne on the London Metal Exchange
 "Copper rises by Rs 2 on global cues")
Cardamom down 1.1% on sluggish demand
Spice for delivery in June was trading lower by Rs 9.30 or 1.06%
 "Cardamom down 1.1% on sluggish demand")
Gold falls but lingers near four-week high ahead of Fed meeting
Spot gold was down 0.3% at $1,279.35 an ounce
 "Gold falls but lingers near four-week high ahead of Fed meeting")
Zinc down 1.3% on muted demand
Metal for delivery in July traded lower by Rs 1.65 or 1.18%
 "Zinc down 1.3% on muted demand")
Gold futures fall Rs 56 on weak global cues
Metal for delivery in August shed Rs 54 or 0.18%
Silver down Rs 185 on weak global cues, profit-booking
Metal for delivery in September was trading lower by Rs 183 or 0.43%
 "Silver down Rs 185 on weak global cues, profit-booking")
Oil prices fall on pick-up in production speculations
While world markets are rattled by fears over Britain's possible exit from the European Union
 "Oil prices fall on pick-up in production speculations")
Tea Board tweaks policy before first national e-auction
Allows proxy bidding to address concerns of tea lobby
 "Tea Board tweaks policy before first national e-auction")
Iron ore to fall on weak fundamentals
The average ore price for 2015 was around $50 a tonne, a major climb down from $192 a tonne on February 16, 2011
 "Iron ore to fall on weak fundamentals")
Sovereign gold bonds' trading begins
Closes 7% higher than the opening price on BSE
 "Sovereign gold bonds' trading begins")
Jewellery industry hit by mandatory PAN Card for purchases over Rs 2 lakh
The issues faced by the industry may strengthen smuggling, warns GJF
 "Jewellery industry hit by mandatory PAN Card for purchases over Rs 2 lakh")
ED, IT to probe multi-crore scam in export of Basmati rice
At least 25 big exporters from Haryana, Punjab are under scanner of probe agencies for their involvement in multi-crore scam
 "ED, IT to probe multi-crore scam in export of Basmati rice")