Page 498 - Commodity News
Gold imports up 61% at 155 tonnes in Apr-May
Weak prices globally and the easing of restrictions by the Reserve Bank aided the growth
 "Gold imports up 61% at 155 tonnes in Apr-May")
Oilseed acreage up 33% due to progressive monsoon
Total sowing area of oilseeds stood at 14.30 million hectares as against 10.78 million hectares in the year ago period
 "Oilseed acreage up 33% due to progressive monsoon")
Oil prices plunge amid ample supplies
Traders also anticipated more Iran crude would come to the already well-supplied oil market as the sanctions would be lifted
 "Oil prices plunge amid ample supplies")
Govt to bar sale of sub-standard stainless steel, utensil makers face uncertain future
BIS hallmark mandatory from 3 months from date of official notification, stainless steel manufacturers welcome move
 "Govt to bar sale of sub-standard stainless steel, utensil makers face uncertain future")
Gold slumps to four-year low, but retail consumers await further drop
Silver at a five-year low in local currency as global prices head southward
 "Gold slumps to four-year low, but retail consumers await further drop")
Zinc down 0.3% on weak global cues
Metal for delivery in current month traded lower by 0.24%
 "Zinc down 0.3% on weak global cues")
Lead down by 0.3% on global cues
Subdued demand from battery-makers also affected prices
 "Lead down by 0.3% on global cues")
Gold falls by 0.5% on global cues
Speculators trimmed their positions amid a weak global trend
 "Gold falls by 0.5% on global cues")
Silver down by 0.4% on weak global cues
Speculators engaged in reducing positions largely in tune with a weakening trend overseas
 "Silver down by 0.4% on weak global cues")
Crude oil futures decline on weak Asian cues
Speculators reduced their positions amid a weakening trend in Asian trade
 "Crude oil futures decline on weak Asian cues")
Nickel rises by 0.4% on global cues
Rising demand at domestic spot markets from alloy-makers also extended support
 "Nickel rises by 0.4% on global cues")
Mentha oil rises by 1.3% on spot demand
Speculators widened positions amid rising domestic and export demand
 "Mentha oil rises by 1.3% on spot demand")
Crude palm oil falls by 0.9% on profit-booking
Speculators booked profits at prevailing higher prices amidst subdued spot market demand
 "Crude palm oil falls by 0.9% on profit-booking")
Oil prices down in Asia
A stronger dollar is causing downward pressure
Copper falls by 0.3% on weak global cues
Speculators offloaded their positions after the metal headed for a third monthly loss in global market
 "Copper falls by 0.3% on weak global cues")
Quality control can bump up India's gold jewellery exports fivefold: WGC
India has potential to raise gold jewellery exports fivefold to $40 bn by 2020
 "Quality control can bump up India's gold jewellery exports fivefold: WGC")
 "Cotton Association retains 2014-15 output estimate")
Spices Board rolls out subsidy scheme to boost production, export
The Board has also decided to provide financial assistance to farmers for irrigation, land development, mechanisation, replanting, soil conservation
 "Spices Board rolls out subsidy scheme to boost production, export")
Price fall adds shine, silver jewellery exports jump 55%
Technology updgradation to produce world-class jewellery helps boost exports
 "Price fall adds shine, silver jewellery exports jump 55%")
Less than 30% of jewellery pieces are hallmarked: World Gold Council
Indian households own nearly 22,000 tonnes of gold and around 600 tonnes of gold is used in jewellery production each year, WGC says
 "Less than 30% of jewellery pieces are hallmarked: World Gold Council")