Page 400 - Commodity News

Edible oil import bill likely to rise 25% in FY17

Domestic demand rise continues, amid stagnant supply from local sources; prices up 25% since January

Oil prices extend fall after US inventories rise

A jump in stocks last week added to concerns of a lasting world supply glut

LT Foods to challenge insurance claim rejection

Oriental Insurance had rejected the Rs 189-cr claim arising out of a fire at LT's Madhya Pradesh mill in 2014

VAT relief in Punjab, Haryana to help revive yarn units

States move to help industry as it was cheaper to buy yarn from other states

Jewellers continue strike for 22nd day

Odisha miners increase iron ore fines price by 6-8%

The new miners need to contribute an amount equal to 10% of the royalty

India in final stage of talks with UAE for strategic crude oil storage tie-up

Around two-thirds of the storage will be available to India for free for strategic use

Tea producers see higher auction prices

Rain in Assam and depleting stocks fuel the expectation of a better price

Jewellers continue stir over excise levy

Govt imposes Section 144 in Zaveri Bazaar to stop traders' rally

MCX ranking up in global comex futures

Surpasses London Metal Exchange in terms of number of contracts traded

Seed pricing: Cottoning on to controls

The Centre's cap on genetically modified cotton seed prices and royalty fees in all states may have set a questionable precedent

Indian oil imports to drop 10% over next 6 years: Oil Minister

Import dependence has, however, risen since then to 78.5% in 2014-15 when India imported 189.4 million tonnes of crude oil for $112.7 billion

Jewellers' strike against 1% excise duty enters 21st day

They have also been protesting against mandatory quoting of PAN by customers for transaction of Rs 2 lakh and above

RIL, ONGC gas dispute: Shah panel tenure extended to July end

Report stated 11.122 billion cubic meters of natural gas, worth over Rs 11,000 crore, migrated from idling Krishna Godavari fields of ONGC to adjoining KG-D6 block of RIL

Chaos among jewellers, shops remain closed

Big jewellers were of the opinion to support central leadership and apex associations, however, smaller associations don't want excise

Oil futures extend gains on falling US crude stocks

Brent crude has risen more than 50% from 12-year lows in January

Jewellers to reopen shops as govt formally clears doubts

Excise to stay but Lahiri committee set up for procedural simplification, report in 2 months, no raids

Jewellery stocks rise by up to 8% as 18-day strike ends

Government assured them that there will be no harassment by excise officials

Gold, silver remain weak on subdued demand, lower global cues

Globally, gold fell more than 1%, extending losses for a third day as the dollar strengthened

Rs 6,300 crore business hit in Tamil Nadu, Puducherry due to jewellery strike

TN, Puducherry are home to about 36,000 showrooms, jewellery sector has about 8-10 lakh employees