Page 397 - Commodity News

Govt to go ahead with digitisation in Phase-III and IV markets

4.9 million households have further been removed from Phase-III, bringing down total addressable population from 38.8 million households to 33.2 million, with max impact in West Bengal, Kerala, Goa an

Palm oil up 1.4% on global cues

Oil for delivery in April contracts traded higher by Rs 6.70, or 1.22%

Cardamom down 2.7% on low demand, higher supply

Spice for delivery in May edged down by Rs 16.80, or 2.31% to Rs 710 per kg

Mentha oil down 1.14% in futures trade on profit-booking

Commodity for current month delivery traded down by Rs 6.40 or 0.76% to Rs 834.20 per kg

FY16: A year of uncertainty for commodities

The US Fed's frequent change in its stance over interest rates kept metals, bullion and energy prices subdued in 2015-16

Sugar production in FY16 falls to 11 lakh tons

The fall in the sugar production was widely expected with only 215 sugar mills operating in the current season

Ferro chrome makers resent export duty waiver on chrome ore

The waiver would only benefit the merchant miners and kill value addition, they said

Gold demand seen falling to 7-year low in March quarter

Demand is expected at 60-70 tonnes, lowest since Q1 of 2009, when local purchases totalled 41 tonnes

Zinc falls by 0.4% on weak global cues

Speculators reduced positions amid weak global trend and ending monthly settlement

Mentha oil drops by 2.1% on ample stocks

Sentiment weakened further as investors booked profits in the midst of a fall in demand in the spot market

Silver futures up 0.3% on global cues

Market analysts said a firming trend in the global market, mainly influenced silver futures

Gold futures up by 0.3% on firm global cues

Speculators enlarged their positions amid a firming trend overseas

Government cuts local gas prices for April-September by 20%

Prices to be cut to $3.60 per million British thermal units (mmBtu) in the first half of next fiscal

Sugar stocks up on price rise in physical markets

Global deficit and estimates of sharp decline in production in Maharashtra weigh on cos share prices

Gold up on Fed's dovish tone on interest rates

Physical buyers remain absent on the ongoing strike of jewellers

Safeguard duty on steel import extended

WIll be effective till March 2018 on select products; move aimed at protecting local producers from cheaper Chinese import

Zinc falls by 0.7% as participants trim position

Sluggish demand at the domestic spot markets mainly affected prices

Cardamom down by 0.4% on profit-booking

Moreover, adequate stock positions following increased arrivals from producing regions also affected prices

Copper declines by 0.7% on low demand

However, a firm trend in the base metals pack at the London Metal Exchange (LME), capped the losses

Gold futures falls by 0.2% on weak global cues

Participants cut down their holdings, largely in line with a weak trend overseas