Page 424 - Commodity News
Cardamom down 0.3% on muted demand
Spice for delivery in March contracts traded lower by Rs 1.80, or 0.24%
 "Cardamom down 0.3% on muted demand")
Sugar down 0.3% on ample stocks
Commodity for delivery in March contracts moved down by Rs 8, or 0.25%
 "Sugar down 0.3% on ample stocks")
Nickel up by 0.5% on spot demand
However, a weak trend overseas in base metals pack, restricted the gains
 "Nickel up by 0.5% on spot demand")
Copper falls by 0.3% on global cues
Besides, muted spot demand from consuming industries fuelled the downtrend
 "Copper falls by 0.3% on global cues")
Silver futures up by 0.2% on firm global cues
Participants indulged in enlarging positions amid a firm trend in precious metals overseas
 "Silver futures up by 0.2% on firm global cues")
Gold futures up by 0.3% on global cues
Speculators enlarged their positions, tracking a firming trend overseas
 "Gold futures up by 0.3% on global cues")
Crude extends gains after surge on short-covering, cold spell
After soaring 10% on Friday, oil prices gained more with Brent trading at $32.26, while US crude rose to $32.24
 "Crude extends gains after surge on short-covering, cold spell")
 "Commodity picks")
Govt reiterates tax sops on gold monetisation scheme
However, it doesn't clarify whether tax-deduction-at-source provisions will apply to gold monetisation scheme or not
 "Govt reiterates tax sops on gold monetisation scheme")
 "Muted impact on energy markets")
Sugar production estimate further cut to 26 mt
ISMA may cut production forecast at 26 mn tonnes in Second Advanced Estimates from 28.3 mn tonnes last year
 "Sugar production estimate further cut to 26 mt")
Oil rises 6% but set for biggest Jan fall in 25 years
The oil price is set for a 16.8% fall in January, its largest slide in the first month of the year in at least a quarter century
 "Oil rises 6% but set for biggest Jan fall in 25 years")
Oil prices to average $33/barrel on low demand: Moody's
Expects oil prices rising by $5 a barrel each in 2017 and 2018
Industry body lowers sugar output estimate to 26 month in 2015-16
The drop in production is mainly in Maharashtra by 3 lakh tonnes
Oil rises 5% to above $30 as cold weather pushes demand
Brent was up $1.5 at $30.75 a barrel, while US crude was $1.26 at $30.79 a barrel
Refined soya oil up 0.5% on rise in demand
Oil for delivery in February moved up by Rs 2.45, or 0.41%
 "Refined soya oil up 0.5% on rise in demand")
Mentha oil down 0.2% on profit-booking
Oil for delivery in January shed Rs 1.40, or 0.16%
 "Mentha oil down 0.2% on profit-booking")
Sugar up 0.3% on pick up in demand
Commodity for delivery in May traded higher by Rs 8, or 0.24%
Palm oil up 0.4% on rising demand
Oil for delivery in far-month February traded higher by a similar margin to Rs 432.90 per 10 kg in 80 lots
 "Palm oil up 0.4% on rising demand")
Cardamom up 0.6% on good spot demand
Spice for delivery in February gained Rs 2.30, or 0.31%
 "Cardamom up 0.6% on good spot demand")