Page 391 - Commodity News

Gold up by 0.4% on global cues

Speculators raised their bets, tracking a firming trend overseas

Mentha oil up by 0.5% on rising demand

Tight stocks position on restricted supplies from major producing regions also fulled the uptrend

Cardamom up by 2.9% on rising demand

Restricted supplies from producing regions also helped prices

Silver down by 0.5% on global cues

Profit-booking by speculators at futures trade also affected prices

OPEC, other nations fail to reach deal on production freeze

OPEC producers tell non-OPEC members that they needed to first reach a deal within OPEC

Commodity picks- 18 April 2016

Kuwaiti oil workers begin open-ended strike

The strike, which could slash production if prolonged, comes as world oil producers gather in Qatar to negotiate an output freeze

Onion output to hit record high of 203 lakh tonnes in 2015-16

Onion output dropped to 189.2 lakh tonnes in 2014-15 crop year due to poor rains

Government mulls sovereign gold bond issue around Akshaya Tritiya

Seeks to tap the demand euphoria on that day; gold demand may be good on moderate prices

India's veg oil import jumps 18% in five months

Refineries take a hit following three-fold hike in RBD palmolein imports in first five months of current oil year

Iran ends free oil shipping to India, decides to charge discounted fee

The pending payments now total to nearly $6.5 billion, which Iran has agreed to receive in instalments over the next six months

Oil trades cautiously ahead of crunch producers' summit

Trading sentiment was also weighed by a report on Wednesday showing a sharper-than-expected rise in US commercial crude inventories

Cotton prices jump on a sharp decline in output estimates

To pressurise margins of textile mills that have been reeling under severe demand drawdown

Ferro chrome makers fear dumping of cheap material from China

India's export of chrome ore has reduced from 33.28% of annual output in 2007 to 4.89% in 2014

Onion prices crash to 30 paise a kg in Neemuch

Bumper harvest and low demand

Oil glut set to ease this year: IEA

Prices are now over $40 a barrel after plummeting below $30 early in the year. They are nevertheless far below $100-a-barrel mark of mid-2014

Iron ore output may touch 180 mt in FY17

Imports tank 63 per cent in FY16 to 5.6 mt due to higher domestic availability.

Agri commodity prices recover earlier loss as normal monsoon is predicted

Analysts say earlier monsoon forecasts preliminary; depends on timely and even distribution of rain

With strike over, jewellers rush to register with excise dept

There were hardly any registrations with excise department as jewellers were on strike after govt introduced 1% levy on Feb 29

Global demand to fall 0.8% this year: World Steel Association

The finding is part of the association's Short Range Outlook that was released today