Page 398 - Commodity News
Cardamom down by 0.4% on profit-booking
Moreover, adequate stock positions following increased arrivals from producing regions also affected prices
 "Cardamom down by 0.4% on profit-booking")
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
 "Copper declines by 0.7% on low demand")
Gold futures falls by 0.2% on weak global cues
Participants cut down their holdings, largely in line with a weak trend overseas
 "Gold futures falls by 0.2% on weak global cues")
Commodities may slump as investors rush for the exits
Oil may drop to $30 a barrel in sell-off
 "Commodities may slump as investors rush for the exits")
Govt extends wheat import duty by 3 months
The move comes amid forecasts for a rebound in Indian crop from a five-year low and should prevent distressed sales by farmers during the harvest
 "Govt extends wheat import duty by 3 months")
Raw jute prices may stabilise as Bangladesh lifts export ban
Production costs in Bangladesh are 30% lower than in India, making imported jute more viable than the domestically available alternative
 "Raw jute prices may stabilise as Bangladesh lifts export ban")
Jewellers' margins to shrink in FY16, says ICRA
However, analysts expect overall volumes for the whole year to rise due to a pick-up in demand
 "Jewellers' margins to shrink in FY16, says ICRA")
Gold touches lowest in six weeks following global move
Traders eye US Fed move for further direction, hawkish stance maycreate sell-off pressure further
Jewellers begin registration with excise amid protest
Industry sources say those seeking registration might be large organized sector players with branded jewellery as their main business
 "Jewellers begin registration with excise amid protest")
Oil prices fall as concerns rise over rally petering out
OPEC along with other major suppliers including Russia will meet next month to discuss an output freeze to support prices
 "Oil prices fall as concerns rise over rally petering out")
Operating margins of gold jewellery retailers to shrink in FY16: Report
Jewellery industry likely to record 5-6% value growth during 2016 calendar yr
Gold futures drop 0.2% on weak global cues
Speculators trimmed their positions amid a weakening global trend
 "Gold futures drop 0.2% on weak global cues")
Aluminium up by 0.4% on global trend
Besides, increased demand at domestic spot markets influenced prices
 "Aluminium up by 0.4% on global trend")
Cardamom up by 0.8% on spot demand
Moreover, restricted supplies in the physical markets from major producing belts supported the uptrend in prices
Nickel up 0.1% as demand picks up
A firming trend in metal overseas also helped prices
 "Nickel up 0.1% as demand picks up")
Sugar prices get boost from rising global deficit
Sugar futures hit a seven-year low at 11.2 cents a pound in August, plunging the sector worldwide into a crisis
 "Sugar prices get boost from rising global deficit")
Guar gum processors in dire straits
Around 60% capacity shut on plunge in prices since 2012 due to weak demand abroad, after the sharp decline in crude oil prices
 "Guar gum processors in dire straits")
US hikes anti-dumping duty on Indian shrimps, exports may fall
The preliminary average duty has been increased to 4.89% in the 10th annual review of dumping duties, compared to 2.96% in the ninth review
ONGC approves $5 billion investment to boost production
The investment in its east coast oil and gas asset can boost crude output by 15% and natural gas output by about a quarter in the next 4-5 years
 "ONGC approves $5 billion investment to boost production")
No relief for jewellers as strike nears 1 month
Jewellers, bullion traders, artisans have been on strike since March 2 to protest against 1% excise duty on non-silver jewellery
 "No relief for jewellers as strike nears 1 month")