Page 431 - Commodity News
Wheat not impacted by warm winter
Last week, a senior ministry official had said wheat production in India was likely to fall below 90 million tonnes for another year in a row in FY16
 "Wheat not impacted by warm winter")
 "Oil rebounds from 12-year low")
 "Gold slides from 9-week high")
India gold prices back at discount; yuan slide supports Chinese buying
Local dealers were offering a discount to global price to boost demand as people are delaying purchases expecting a correction
Oil options lurch closer to $20 Goldman doomsday forecast
For past 18 months, oversupply has been the main factor responsible for dragging down oil prices by two-thirds
 "Oil options lurch closer to $20 Goldman doomsday forecast")
Wheat production in MP likely to dip 13% to 160 lakh tonnes
If the maximum temperature remains above normal production of wheat may be hit
 "Wheat production in MP likely to dip 13% to 160 lakh tonnes")
Copper rises by 0.5% on spot demand
However, weakness in the base metals pack at LME limited the gains
 "Copper rises by 0.5% on spot demand")
Nickel up by 0.1% on spot demand
Speculators widened their positions even as base metals weakened overseas
 "Nickel up by 0.1% on spot demand")
Silver prices falls by 0.8%, hurt by weak global cues
Moreover, profit-booking at prevailing levels by speculators weighed on silver prices
 "Silver prices falls by 0.8%, hurt by weak global cues")
Cardamom extend gains on rising demand, up 0.8%
Participants engaged in increasing their positions, triggered by surging demand at the spot market
 "Cardamom extend gains on rising demand, up 0.8%")
Gold falls by 0.5% on weak global cues
Profit-booking by speculators also affected prices
 "Gold falls by 0.5% on weak global cues")
Gold hits nine-week high as China worries hit stocks
Spot gold rose to a nine-week high of $1,109.94 an ounce at one stage and was up 1.3% at $1,108.45
Oil moves away from 12-year lows as Chinese shares rise
Brent was trading at $34.31$ a barrel, while US WTI was trading at $33.90 a barrel
 "Oil moves away from 12-year lows as Chinese shares rise")
Base metals plunge on China worry
Chinese producers will continue to dump their produce in global markets, resulting in a downward bias in metal prices this year
 "Base metals plunge on China worry")
Gold at 2-month high on safe-haven buying
Upward march might continue on supportive fundamentals, with a slowing Chinese economy and escalating tensions in West Asia, Korea
 "Gold at 2-month high on safe-haven buying")
Tea sector: Outlook neutral despite optimism for FY17
CTC and dust leaves reached Rs 130 a kg in November-December
 "Tea sector: Outlook neutral despite optimism for FY17")
Oil slides below $33 to near 12-yr low as China turmoil rattles investors
Brent fell more than 5% to a low of $32.16 before paring some of its losses
 "Oil slides below $33 to near 12-yr low as China turmoil rattles investors")
Crude oil dives towards $30 a barrel
Falling Chinese currency and a second emergency halt in stock trading pulls down crude prices
 "Crude oil dives towards $30 a barrel")
India's 2015 Iran oil imports fall by a quarter - trade
The fall after refiners slowed purchases early in the year to keep imports within the limits of sanctions
 "India's 2015 Iran oil imports fall by a quarter - trade")
SEA demands cut in oilseeds import duty to 5-10%
Says overseas sale of oilmeals has almost come to a standstill
 "SEA demands cut in oilseeds import duty to 5-10%")