Page 439 - Commodity News
Jewellers protest Rs 2-lakh cash sales limit
Yesterday, the finance ministry said PAN would have to be stated for a jewellery transaction above Rs 2,00,000 from January 1, down from the present Rs 5,00,000
 "Jewellers protest Rs 2-lakh cash sales limit")
Gujarat declares Rs 110 per 20 kg bonus for cotton farmers
Bonus will be over and above the minimum support price (MSP)
 "Gujarat declares Rs 110 per 20 kg bonus for cotton farmers")
Spot demand lifts sugar prices by 0.6%
Participants enlarged their positions, driven by pick up in demand in the spot market
 "Spot demand lifts sugar prices by 0.6%")
Ample stocks drag down chana prices by 0.7%
Traders cut down their bets amid higher supplies, affecting prices
 "Ample stocks drag down chana prices by 0.7%")
Uptick in demand lifts crude palm oil prices by 0.5%
Restricted supplies from producing regions also supported the upside
 "Uptick in demand lifts crude palm oil prices by 0.5%")
Copper prices rise by 0.3% on global cues
Pick-up in spot demand also influenced prices
 "Copper prices rise by 0.3% on global cues")
Cardamom prices marginally up on spot demand
Fresh positions built up by speculators due to improved demand helped prices
 "Cardamom prices marginally up on spot demand")
Aluminium rises by 0.2% on global cues
Rising spot demand also influenced prices
 "Aluminium rises by 0.2% on global cues")
Lead declines by 0.6% on muted spot demand
Weakness in the metal overseas also affected prices
 "Lead declines by 0.6% on muted spot demand")
Oil prices give up gains ahead of Fed move
Fresh indications of growing oversupply also affected prices
 "Oil prices give up gains ahead of Fed move")
Oil edges up as multi-year lows trigger buying
OPEC Secretary General said that current low oil prices would not continue and may rise in a few months or a year
 "Oil edges up as multi-year lows trigger buying")
OPEC expects oil prices to rebound from $35 per barrel in a year
General secretary says non-OPEC production to come down by 140,000 barrels next year
 "OPEC expects oil prices to rebound from $35 per barrel in a year")
IBJA to launch World Silver Council in January
The new body will have representation from the domestic and global silver miners, refiners, traders and users
 "IBJA to launch World Silver Council in January")
Edible oil refineries ask for protection from rising import
Refineries claim loss of Rs 3,000 a tonne, in the wake of rising imports
 "Edible oil refineries ask for protection from rising import")
Cairn shouldn't have moved Delhi HC in a hurry: Pradhan
Oil minister says govt will take appropriate action on extension of the company's licence
 "Cairn shouldn't have moved Delhi HC in a hurry: Pradhan")
New uses for aluminium create hope for producers
Despite falling prices and pressure from cheap imports, producers see a bright future for the white metal
 "New uses for aluminium create hope for producers")
Food inflation might rise as agri commodity prices set to tick higher
The biggest contributor to the spurt in November CPI was pulses which witnessed a staggering 39.9% price hike
 "Food inflation might rise as agri commodity prices set to tick higher")
Aluminium falls by 0.6% on global cues
Furthermore, muted demand in the domestic spot markets weighed on the metal prices
Crude palm oil falls by 0.3% on muted demand
Besides, adequate stocks on higher supplies from producing regions weighed on prices
Cardamom down by 0.8% on adequate stocks
Traders engaged in reducing their positions, triggered by ample stocks positions at spot market