Page 407 - Commodity News
Bt cotton row: Monsanto threatens to re-evaluate India biz
Mosanto is against the the govt's decision to control cotton seed prices including trait or royalty value
 "Bt cotton row: Monsanto threatens to re-evaluate India biz")
Indian mills clinch sugar exports deals, first in 2 months
Maharashtra's decision to exempt cane purchase tax, higher global prices made overseas sales attractive
 "Indian mills clinch sugar exports deals, first in 2 months")
Junagadh varsity advises farmers to hold cumin, castor for few months
Report claims both crops have good prospects of exports during April and May
 "Junagadh varsity advises farmers to hold cumin, castor for few months")
Oil prices climb after US oil output falls for sixth week
Brent nudged up t o$37.10 a barrel, while US crude was trading at $34.70
 "Oil prices climb after US oil output falls for sixth week")
 "Gems & jewellery exports likely to be lowest in six years")
National online trading in agri commodities to begin from April
The proposed National Agriculture Market is to come about by electronically linking 585 major wholesale markets (mandis) in the country, termed Agricultural Produce Market Committees
Kingfisher not flying when oil is cheap, regrets Mallya
SBI sought action against Mallya for defaulting on loans, including his arrest and impounding of his passport
 "Kingfisher not flying when oil is cheap, regrets Mallya")
Govt to issue third tranche of gold bond scheme soon
The scheme aims at reducing demand for gold in physical form and buy the commodity in demat or the paper form
 "Govt to issue third tranche of gold bond scheme soon")
Sebi upgrading surveillance for commodity exchanges
Sebi is integrating its online surveillance system,while NCDEX has assigned two tier investigations in the castor episode
 "Sebi upgrading surveillance for commodity exchanges")
Metal tycoons get sheen back on Budget's infra spending push
Vedanta, the nation's biggest producer of base metals, predicts aluminum sales growth to rebound to nine per cent in the year starting April 1, and copper to five per cent
 "Metal tycoons get sheen back on Budget's infra spending push")
Oil prices edge up as confidence rises that market has bottomed
Traders said that a market rout that has pulled down prices by 70% since mid-2014 is over
 "Oil prices edge up as confidence rises that market has bottomed")
Gold falls by 0.3% in futures trade on weak global cues
Participants reduced their positions, largely in line with a weak trend overseas
Silver futures down by 0.5% on weak global cues
Speculators cut down their bets amid a weakening trend overseas
 "Silver futures down by 0.5% on weak global cues")
India's Iran oil jumps by a fifth in February from January
India shipped in 215,500 bpd of oil from Tehran in February, a rise of about 21% from last month
 "India's Iran oil jumps by a fifth in February from January")
Cotton global stocks shrinking: ICAC
Production and consumption falling due to competition from polyester fiber which is significantly cheaper
 "Cotton global stocks shrinking: ICAC")
Jewellers propose 1% rise in import duty, excise removal
They say tax on imported gold will yield Rs 2,125 cr, compared with only Rs 1,650 cr earned through excise duty
 "Jewellers propose 1% rise in import duty, excise removal")
Budget 2016: Organised dairies to add capacities
Better milk production coupled with power availability will boost rural demand
 "Budget 2016: Organised dairies to add capacities")
Sugar mills move for early closure of crushing, lower exports still an issue
Export target of 4 million tonnes so far is still far away
Oil below $37 as US inventory rise counters output freeze plan
Brent was trading at $36.54 a barrel, while WTI was down 66 cents at $33.74
 "Oil below $37 as US inventory rise counters output freeze plan")
Cardamom down by 0.6% on sluggish demand
Traders trimmed positions amid subdued domestic as well as exports demand in the spot market
 "Cardamom down by 0.6% on sluggish demand")