Page 463 - Commodity News
Cardamom up by 0.4% on rising demand
Tight stocks position in the physical market on restricted supplies from producing regions also supported the upside
 "Cardamom up by 0.4% on rising demand")
Gold futures up by 0.2% on firm global cues
Speculators enlarged positions amid a firming trend overseas
 "Gold futures up by 0.2% on firm global cues")
Chana futures remain weak on higher supply
Traders cut down their exposure amid pick-up in supplies in the physical market
 "Chana futures remain weak on higher supply")
Oil prices drop in Asia on oversupply fears
Traders anticipate an increase in US crude inventories when weekly data from the Energy Information Agency (EIA) is released later in the day
 "Oil prices drop in Asia on oversupply fears")
Rising prices make pulses political hot potato
5,800 tonnes of pulses seized from hoarders in nationwide raids; Centre, states go all out to defuse crisis as prices shoot up; Maharashtra, Gujarat re-impose stock-holding limits for lentils
 "Rising prices make pulses political hot potato")
Safeguard duty fails to curb steel imports
Industry wants safeguard duty extended to entire value chain
 "Safeguard duty fails to curb steel imports")
Govt to procure more cotton from farmers as China trims imports
China's imports fell 42% in the first nine months of the year to 1.16 million tonnes
 "Govt to procure more cotton from farmers as China trims imports")
 "World Bank revises down forecast of crude oil prices")
Traders protest raids, threaten cancellation of import orders
In Maharashtra, over 200 shops were closed in Pune alone
 "Traders protest raids, threaten cancellation of import orders")
Raids lead to seizing of 5,800 tonnes of pulses in 5 states
Nitish and BJP in blame game over price of pulses
 "Raids lead to seizing of 5,800 tonnes of pulses in 5 states")
Barley up 1.77% on firm demand
Higher offtake in spot market sustains uptrend
 "Barley up 1.77% on firm demand")
Nickel futures down 0.31% on weak global cues, low spot demand
At the Multi Commodity Exchange, nickel for delivery in October weakened by Rs 2.10
 "Nickel futures down 0.31% on weak global cues, low spot demand")
Zinc slips in futures trade on weak global cues
October, November contracts shed more than 1% each on weakness in base metals on LME
 "Zinc slips in futures trade on weak global cues")
Lead down 0.95% on sluggish demand, overseas cues
Lower offtake from battery makers, weak trend in base metals on LME drive prices down
 "Lead down 0.95% on sluggish demand, overseas cues")
Cardamom up 0.85% as demand picks up
Speculators create fresh positions as restricted supplies from producing regions sustain downtrend
 "Cardamom up 0.85% as demand picks up")
Oil prices rebound in Asia on bargain hunting
However, demand remained weighed down by the slowing Chinese economy and a global oversupply
 "Oil prices rebound in Asia on bargain hunting")
Basmati prices lower than 2015's, despite PDS purchases
Prices rise to Rs 1,400-1,500 per quintal after PDS purchases, lower than Rs 2,500 per quintal last year
 "Basmati prices lower than 2015's, despite PDS purchases")
 "Kerala plantations chafe at wage deal")
Pulses slump on govt measures
Chana hits lower circuit in futures; tur and urad fall in spot trade after offloading on Centre's move to limit stocks
 "Pulses slump on govt measures")
Cabinet secy chairs meet with states on pulses
Centre has also decided to expedite the import of 2,000 tonnes of tur and 1,000 tonnes of urad dal
 "Cabinet secy chairs meet with states on pulses")