Page 384 - Commodity News
Oil prices up as Canada wildfires threaten crude output
Authorities say wildfires are burning out of control in the Alberta oil sands region of Canada, which mines and ships heavy crude south to the US market
 "Oil prices up as Canada wildfires threaten crude output")
Centre not to change issue price of grains under food law
National Food Security Act mandates review of subsidised rate after three years from date of commencement, which is July 5 this year
 "Centre not to change issue price of grains under food law")
Low prices make dairy export to Russia unviable
As against the current Rs 350 a kg in Indian markets, skimmed milk powder is quoted at Rs 180 a kg in international markets, including Russia
 "Low prices make dairy export to Russia unviable")
Paddy procurement rises in eastern India
Procurement, though, still miniscule as compared to total procurement from traditional sources
 "Paddy procurement rises in eastern India")
 "April gold imports down 67%")
Centre to buy 15,000 tonnes onion to control prices
Took a few days ago decision empowering states to impose stock limits on sugar to check hoarding
 "Centre to buy 15,000 tonnes onion to control prices")
 "Bt cotton: Karnataka HC removes stay on Centre's seed price control order")
World's first diamond trading exchange going live from today
India has a major share in cutting and polishing of diamonds, with 90% of global work
 "World's first diamond trading exchange going live from today")
Zinc futures down 0.44% on global cues
The metal for delivery in June softened by 45 paise, or 0.36%
 "Zinc futures down 0.44% on global cues")
Shell makes further spending cuts after BG deal
Plans to reduce 2016 spending by around 10% to $30 billion due to low oil prices
 "Shell makes further spending cuts after BG deal")
Gold futures drop Rs 136 on weak global cues, profit-booking
The precious metal fell for a third day as the dollar rebounded on prospects of the US interest-rate increase next month
 "Gold futures drop Rs 136 on weak global cues, profit-booking")
Oil extends losses on supply concerns, stronger dollar
Iran ramps up production, while traders await the release of inventories later in the day
Kandla Port gets quality evaluation lab of Spices Board
It is the seventh lab set up by Spices Board in India and has latest equipment to test a range of parameters in spice products
 "Kandla Port gets quality evaluation lab of Spices Board")
Higher mango output may keep prices reined in this year
There is likely to be an increase of 2.1% in mango production in the current year 2015-16, as compared to previous year, agriculture minister said
 "Higher mango output may keep prices reined in this year")
Gold steadies near 15-month peak on softer dollar, fund inflows
As assets of the biggest bullion fund rose to their highest in over two years
India to pay 1.5% interest on $6.5 bn Iran oil dues
Essar Oil and other refiners want to pay Iran at the exchange rate prevalent at the time of buying crude oil in the last three years
 "India to pay 1.5% interest on $6.5 bn Iran oil dues")
Short supply, improved demand lift up cotton prices
During last one week cotton prices have moved up from Rs 34,500 to Rs 35,500 per candy of 355 kg
 "Short supply, improved demand lift up cotton prices")
Copper down by 0.8% on overseas cues
Analysts attributed the fall in copper futures to a weak trend in base metals following disappointing China's latest PMI data
 "Copper down by 0.8% on overseas cues")
Vegetable prices rise 20-25% as temperatures soar
Vegetable prices tend to be on higher side during summers due to supply shortage
 "Vegetable prices rise 20-25% as temperatures soar")
 "One who laid new ground rules for jute and sugar")