Page 375 - Commodity News
Steel consumption up 3.8% in May
During April-May, Integrated Steel Plant producers produced 8.688 mt, which was a growth of 8.8%
 "Steel consumption up 3.8% in May")
International skimmed milk powder prices show signs of recovery
Might open up export opportunities for Indian exporters; SMP exports from India next to nil at present, due to unviable prices
 "International skimmed milk powder prices show signs of recovery")
Govt ready to help revive Nagarjuna oil refinery: Dharmendra Pradhan
Nagarjuna Oil Refinery earlier said it was in talks with prospective investors, including state-run firms, Saudi Arabia
 "Govt ready to help revive Nagarjuna oil refinery: Dharmendra Pradhan")
Sugar up by 0.4% on uptick in demand
Participants enlarged their positions amid upsurge in demand from bulk consumers in the spot market
 "Sugar up by 0.4% on uptick in demand")
Cardamom up by 1.3% as spot demand picks up
Restricted arrivals from producing regions also influenced prices
 "Cardamom up by 1.3% as spot demand picks up")
Nickel up by 1.6% on spot demand
Firm global cues also helped prices
 "Nickel up by 1.6% on spot demand")
Oil prices boosted by dollar slump
However, gains were limited as producers increased their rig count as the commodity held around the key $50 level
 "Oil prices boosted by dollar slump")
 "Commodity picks- 6 June 2016")
Rajasthan expects kharif sowing in 1.52 lakh hc area
Against the estimated demand of 7.80 lakh quintal seeds, arrangements of 8.56 lakh quintal seeds has been made
 "Rajasthan expects kharif sowing in 1.52 lakh hc area")
Farmers unhappy over meagre hike in MSP of paddy
The Centre has increased the MSP of paddy by Rs 60 per quintal. With this, the MSP for common variety of paddy is fixed at Rs 1,470 per quintal
 "Farmers unhappy over meagre hike in MSP of paddy")
US jobs data to push gold past $1,300/oz
Markets await Fed's statement on Monday, dollar set to weaken
 "US jobs data to push gold past $1,300/oz")
Uniform warehousing norms: Fly-by-night warehouse operators to face heat
Sebi's consultative paper proposes tough norms to push such players out of business
 "Uniform warehousing norms: Fly-by-night warehouse operators to face heat")
Record production of Dasheri mango in UP this year
Production of dasheri mango estimated to cross 50 lakh tones this year
 "Record production of Dasheri mango in UP this year")
Brent crude oil holds above $50 on signs of rebalance
Fuelled by lower oil prices, consumers are driving and flying more, boosting consumption of gasoline and jet fuel
 "Brent crude oil holds above $50 on signs of rebalance")
Crude palm oil extends losses in futures trade on muted demand
Analysts said offloading of positions by participants is due to sluggish demand in the spot markets
 "Crude palm oil extends losses in futures trade on muted demand")
Indian dairy farmers fared better than their global counterparts in FY16
Farm prices in India increased y-o-y, whereas it was lower by 20-60% globally
 "Indian dairy farmers fared better than their global counterparts in FY16")
Brent crude oil stabilizes around $50 after OPEC meeting
OPEC failed to agree to a clear oil-output strategy on Thursday as Iran insisted on raising production to regain market share lost during years of sanctions
 "Brent crude oil stabilizes around $50 after OPEC meeting")
Bad weather, lower prices to hit soya output
According to Soybean Processors Association, this year, Soybean production is expected to be lower at 69.29 lakh tonnes than earlier estimate of 74 lakh tonnes
 "Bad weather, lower prices to hit soya output")
 "Seed industry pins hopes on monsoon for double-digit growth this year")
 "Iron ore at risk of losing all of 2016's gains")