Page 395 - Commodity News

Jewellers' strike cripples gold imports in March

With 70-80 per cent of jewellers going on strike, the gold import bill is estimated in the range of only $600-700 million

ONGC gets green nod for Rs 350 crore drilling project in Gujarat

Each well will be drilled up to a depth of 3,000 metres

Fresh arrivals cause further fall in onion price

Prices declined by 30% in past three months on weak demand, higher production

Gold snaps two-day losing streak as Asian shares slide

Spot gold rose to a session-high of $1,227.60 an ounce before paring some gains to trade up 0.9%

Mentha oil down by 0.6% on muted demand

Sufficient stocks on higher supplies from Chandausi in Uttar Pradesh also affected prices

Cardamom up by 1.6% on spot demand

Traders created fresh positions, driven by pick up in demand in the spot market

Silver futures up by 0.8% on global cues

Participants raised their bets amid firming global trends

Gold futures up by 0.4% on global cues

Speculators widened their bets taking positive cues from the global market

Oil prices extend losses as output freeze hopes fade

After breaking above $40 in March on expectations for the Russia-Saudi Arabia-led talks, the commodity has tumbled in recent weeks

Steel woes not to go away too soon

The toxic cocktail of sluggish demand and chronic overcapacity is taking a toll on steelmakers across the globe

India's coffee exports rise 13.4% in 2015-16

According to the post-monsoon estimate, the country's coffee output is pegged at 3,50,000 tonne for the 2015-16 crop year against 3,27,000 tonne in the last year

Pressure on basmati exporters to stay for 6 months: ICRA

Weak sales growth and a decline in profitability, along with inventory losses, are expected to be key trends

Sweet deals for sugar mills

Price rises sharply after lower production estimate in India and forecast for a wider global deficit

India's Iran oil imports set to surge to 7-year high in 2016/17 , says sources

Iran was India's second biggest oil supplier - a position now belonging to Iraq - before economic sanctions aimed at Iran's nuclear programme hampered its trade relations

Gold drops on sluggish demand, silver tumbles

Standard gold (99.5 purity) slumped by Rs 190 to end at Rs 28,155 per 10 grams

Oil falls as investors turn cool on output freeze deal

Oil prices have fallen more than 65% since mid-2014, when booming US shale oil output and supply from within and outside OPEC created one of the largest global surpluses of crude in modern times

Sugar futures climb 0.76% on pick up in demand

Analysts attributed rise in sugar futures to rising demand from retailers as well as bulk consumers in spot market

Silver down by 0.2% on weak global cues

Speculators trimmed their commitments taking weak cues from overseas markets

Copper down by 0.4% on global cues

Speculators cut down their bets after select base metals weakened in global markets

Mentha oil futures recover by 0.5% on spot demand

Traders created fresh positions after pick up in demand from consuming industries in the spot market