Page 415 - Commodity News
Cardamom up by 0.8% on rising demand
Speculators enlarged positions amid rising demand in the spot market
 "Cardamom up by 0.8% on rising demand")
Gold falls by 1.4% amid weak global cues
Profit-booking by speculators at existing levels weighed on the precious metal prices
 "Gold falls by 1.4% amid weak global cues")
Oil gives up gains as Iran loads shipment for Europe
Iran's first consignment since sanctions were lifted reignited worries over a global supply glut
 "Oil gives up gains as Iran loads shipment for Europe")
 "Commodity picks")
Textile industry urges govt to make cotton available at cheaper price than imports
India is the largest producer of cotton in the world leaving behind China
 "Textile industry urges govt to make cotton available at cheaper price than imports")
Oil industry gets together, agrees things may never get better
Annual International Petroleum Week finds a world awash in crude and hardly a life jacket in sight
 "Oil industry gets together, agrees things may never get better")
 "Oil prices could reach $50 a barrel by mid-2017: Kuwait")
Secondary metals producers seek import duty exemption on metallic scrap
Say over 50% of metal output comes from recycling, import of scrap attracts 2.5-5% duty while finished products come free
 "Secondary metals producers seek import duty exemption on metallic scrap")
Jeera prices up by 10% despite fresh arrivals
Prices of the spice moved up on speculation of lower yield due to crop damage, and fresh export enquiries
 "Jeera prices up by 10% despite fresh arrivals")
Gold surge sees high discount sales
As price rises, dealers selling off yellow metal bought at a lower price; Customs duty cut also expected in coming budget
 "Gold surge sees high discount sales")
Govt extends duty drawback for synthetic textiles
DGFT recently said yarn with less than 85% of cotton, not put up for retail sale would attract duty drawback of 3%
Bullion inches closer to Rs 30,000-mark
The metal has gained Rs 2,600 in eleven straight sessions, its longest winning streak this year
 "Bullion inches closer to Rs 30,000-mark")
Guess what is causing the rally in gold - it's not fear
While global equity markets are touching new lows, gold is at one-year high and has given a return of 18% since the start of the calendar year
 "Guess what is causing the rally in gold - it's not fear")
Oil prices jump almost 5%, but oversupply still damps outlook
Brent was trading at $31.43 a barrel, while WTI was trading at $27.42 a barrel
Cotton prices fall further by 3% amid sluggish demand
The commodity is ruling at Rs 33,200-33,500 per candy against Rs 34,500 a week ago
 "Cotton prices fall further by 3% amid sluggish demand")
Crude oil up by 4.1% on global cues
Speculators widened their bets after crude oil prices rallied in Asia
 "Crude oil up by 4.1% on global cues")
Aluminium rises by 0.4% on rising demand
Traders enlarged positions, driven by pick up in demand at the spot market
 "Aluminium rises by 0.4% on rising demand")
India's fuel demand rises at fastest pace in three months
Higher petrol consumption due to the SC order helps demand surge 12.7% in January to 15.71 million tonnes
 "India's fuel demand rises at fastest pace in three months")
Gold eyes best week in 4 years as market turmoil boosts haven appeal
Spot gold rises to $1,260.60 on Thursday, its highest in a year, before paring some gains to close up 4%
NCDEX to help castor seed traders sell on its e-spot exchange
About 165,000 tonnes of castor seed worth Rs 495 cr lying with warehouses as of Jan 27
 "NCDEX to help castor seed traders sell on its e-spot exchange")