Page 545 - Commodity News
Gold imports up 19.5% at $34.32 billion in FY15
The Reserve Bank and the govt have maintained that the CAD level is comfortable, but the spike in gold imports may spark fresh worries
 "Gold imports up 19.5% at $34.32 billion in FY15")
India's coffee exports up by over 7.22% in Apr
The country had shipped 28,966 tonnes of coffee in the same period last year
 "India's coffee exports up by over 7.22% in Apr")
Base metals at four-month high on Chinese stimulus hope
Trend may continue on infrastructure focus, seasonal demand and widening deficit
 "Base metals at four-month high on Chinese stimulus hope")
India's sugar output hits second highest record this year
Production surpasses 27.37 million tonne mark, 25% mills continue operations, cane arrears hit all-time high of Rs 21,000 cr
 "India's sugar output hits second highest record this year")
Goan ore export is unlikely to resume for some months
Despite Centre's cut in export duty on Goa's ore, global prices still too low; besides, many mining firms are currently investing in conversion units for the higher-quality market at home
 "Goan ore export is unlikely to resume for some months")
 "US oil hits 5-month high as dollar weakens")
Jewellery export might hit 4-year high in FY16
India's shipment of precious stones and value-added ornaments grew 3.7 per cent in 2014-15 at $36.2 billion, of which gold jewellery was $6.2 bn
 "Jewellery export might hit 4-year high in FY16")
UP sugar mills consider surrendering cane area allocations
State govt says mills need to inform farmers one year in advance
 "UP sugar mills consider surrendering cane area allocations")
Cotton yarn: Demand hopes push capacity additions
The textile industry in India has an overall installed capacity of 50 million spindles. About 10-15 mn spindles more are being expected in the next one year
 "Cotton yarn: Demand hopes push capacity additions")
MSMEs in rubber sector urge government not to hike duty till expert group's report
Unable to compete with cheaper imported goods from China and other countries, many small rubber goods manufacturers have turned to trading of rubber goods
 "MSMEs in rubber sector urge government not to hike duty till expert group's report")
 "Opec oil output in April climbs to highest since 2012")
Cotton price may touch Rs 38,000 per candy by July this year
Short supply and reduced stock position may push the commodity's price upwards
 "Cotton price may touch Rs 38,000 per candy by July this year")
Gold extends gains on wedding season demand, global cues
Yellow metal adds Rs 55 to three-month high of Rs 27,475 per 10 grams, Silver sheds Rs 200 to Rs 37,400 a kg
 "Gold extends gains on wedding season demand, global cues")
Commexes' turnover dips 2.75% in first fortnight of April
Maximum decline seen in bullion at 23%, but rise in energy items arrests sharp fall
 "Commexes' turnover dips 2.75% in first fortnight of April")
Guargum rises in futures trade on short-covering
Fall is supply of guarseed supports uptrend, May guargum adds 1.3%
 "Guargum rises in futures trade on short-covering")
Crude palm oil rises by 0.3% as demand picks up
Speculators indulged in creating fresh positions supported by improved demand in the spot market
 "Crude palm oil rises by 0.3% as demand picks up")
Jeera softens by 0.7% on profit-booking
However, expectations of lower output due to unseasonal rains in major growing regions restricted the fall
 "Jeera softens by 0.7% on profit-booking")
Mentha oil up by 1% on rising demand
Speculators indulged in enlarging their positions, taking positive cues from spot market
 "Mentha oil up by 1% on rising demand")
Cardamom rises by 0.6% on spot demand
Participants enlarged positions amid a firming trend at the spot market on rising demand
 "Cardamom rises by 0.6% on spot demand")
Nickel up by 0.7% on global cues, spot demand
Speculators enlarged positions amid a firming trend overseas and spot demand
 "Nickel up by 0.7% on global cues, spot demand")