Page 441 - Commodity News
Gold set for 7th weekly drop in eight as US rate rise bets mount
A rate increase at the Federal Reserve's policy meeting could dent demand for non-interest paying gold
 "Gold set for 7th weekly drop in eight as US rate rise bets mount")
Oil slides to new seven-year low as IEA warns of worse glut
Brent slipped below $39 per barrel for the first time since December 2008
 "Oil slides to new seven-year low as IEA warns of worse glut")
Pellet makers in a soup as miners up iron ore fines' rates
Prices of iron ore lumps have corrected in the range of Rs 300-700 a tonne
 "Pellet makers in a soup as miners up iron ore fines' rates")
Sugar climbs on strong demand, tight supply
The steep rise in sugar prices was attributed to an increased offtake by bulk consumers as well as retailers against a halt in supplies form millers
Gold extends losses on sluggish demand, global cues
slackened demand from jewellers and retailers also dampened sentiments
 "Gold extends losses on sluggish demand, global cues")
Chana down by 0.5% on ample stocks
Subdued demand in the spot market also affected prices
 "Chana down by 0.5% on ample stocks")
Cardamom down by 2.8%, hurt by muted demand
Further adequate stocks position on higher supplies from producing region fulled the downtrend
 "Cardamom down by 2.8%, hurt by muted demand")
Crude palm oil falls by 0.1% on muted demand
Participants engaged in reducing their positions, taking negative cues from spot market
 "Crude palm oil falls by 0.1% on muted demand")
Mentha oil down by 0.4% on adequate supply
Traders engaged in trimming positions, triggered by ample stocks
 "Mentha oil down by 0.4% on adequate supply")
Gold futures drop by 0.4% on weak global cues
Speculators reduced their exposure amid a weakening global trend
 "Gold futures drop by 0.4% on weak global cues")
Silver falls by 0.3% on weak global cues
Participants trimmed positions taking weak cues from overseas markets
 "Silver falls by 0.3% on weak global cues")
Oil extends losses in Asia on strong OPEC output
There are concerns over a supply glut that is expected to persist beyond next year
Farmers forced to sell onion at loss as govt blocks export
Prices fall 60% in one month on high arrivals; retail buyers get little relief
 "Farmers forced to sell onion at loss as govt blocks export")
Pak cheers Indian cotton industry
Despite fall in orders from China, export contracts surge 35% in Oct-Nov ; Pakistan, Bangladesh and Myanmar emerge top importers, with major contribution from Pakistan
 "Pak cheers Indian cotton industry")
Limit rubber imports to protect domestic industry: UPASI
India has shown maximum negative growth in production, a 21-per cent dip, among the all the rubber producing countries
 "Limit rubber imports to protect domestic industry: UPASI")
Stock holding limit failed to halt raw jute price rise
The unprecedent jump in prices is largely on account of hoarding by about a fifth of mill owners, say industry sources
 "Stock holding limit failed to halt raw jute price rise")
Uttarakhand gold refiners may lose edge over other players
Government considering raising excise on unrefined gold by 1%
 "Uttarakhand gold refiners may lose edge over other players")
OPEC says cheap oil to hit rival supply harder in 2016
In its report OPEC said supply outside OPEC is expected to decline by 380,000 barrels per day (bpd) in 2016
 "OPEC says cheap oil to hit rival supply harder in 2016")
Govt might raise excise on unrefined gold by 1%
This would particularly affect refiners based in Uttarakhand, where an excise concession has ensured the effective rate is 8%
 "Govt might raise excise on unrefined gold by 1%")
Silver falls 0.2%, hurt by global cues
In the international market, silver ended flat at $14.14 an ounce in New York yesterday
 "Silver falls 0.2%, hurt by global cues")