Page 559 - Commodity News
Crude oil rise by 2.8% on overseas cues
Speculators created positions amid a firm trend in Asia
 "Crude oil rise by 2.8% on overseas cues")
Silver rises by 1.9% on global cues
Participants built up positions taking positive cues from overseas markets
 "Silver rises by 1.9% on global cues")
Copper rises by 1% on global cues
Rising demand at domestic spot markets also supported the upside
 "Copper rises by 1% on global cues")
Gold futures rise by 1.1% on global cues
Speculators created fresh positions taking positive cues from the global market
 "Gold futures rise by 1.1% on global cues")
Little progress made in ethanol blending
In 3rd round, sugar mills offer less than a third of purchase tender floated by OMCs; lifting of contracted amount also meagre due to price trends
 "Little progress made in ethanol blending")
Mauritius opens up $1.5-bn market for Indian mangoes
Pakistan captures major chunk of Mauritian market, Indian exporters seek rise in subsidy to be competitive
 "Mauritius opens up $1.5-bn market for Indian mangoes")
Gold, silver prices recover on renewed demand
Standard gold gains Rs 410 to close at Rs 26,630 per 10 grams in Mumbai; Silver adds Rs 440 to finish at Rs 38,100 per kg
 "Gold, silver prices recover on renewed demand")
Commodity derivatives volumes at seven-year low
The fall in the prices of several commodities has contributed to the fall in volumes
 "Commodity derivatives volumes at seven-year low")
Excess rain in March a departure from trend
Unseasonal rain has wreaked havoc on farm output, may delay procurement of wheat in Punjab and Haryana by at least a week
 "Excess rain in March a departure from trend")
Global food prices plunge to six-year low on bumper output
Most agri commodities in global markets below their MSP in India; agri exports to decline 10% in FY16
 "Global food prices plunge to six-year low on bumper output")
Coffee exports decline 8.5% to 283,929 tonnes in FY15
Decline in shipments is mainly due to fall in price in international markets during Jan and March 2015
 "Coffee exports decline 8.5% to 283,929 tonnes in FY15")
Agri-commodity exports to fall over 10% due to slump in global food prices
Most agri-commodities are trading below Indian MSP in global markets
 "Agri-commodity exports to fall over 10% due to slump in global food prices")
Coffee exports decline 8.5% to 283,929 tonnes in FY15
Despite record domestic crop, a sudden drop in global prices in the March quarter led to a fall in annual exports
 "Coffee exports decline 8.5% to 283,929 tonnes in FY15")
 "Textiles sector disappointed, says hasn't got its due")
India's sugar production up 11.5%
ISMA data showed India's sugar production at 24.72 million tonnes by March 31, 2015
 "India's sugar production up 11.5%")
De Beers to open diamond trading office in India
Ready to finally open an India office for trade in roughs, if govt waives tax on operations as done in Dubai & Singapore
 "De Beers to open diamond trading office in India")
Govt tightens value addition norms for gold jewellery to stop circular trading
Industry estimates suggest since last few years round tripping of gold is estimated at around 150 tonnes
 "Govt tightens value addition norms for gold jewellery to stop circular trading")
Oil prices down in thin Asian trade
Prices fell after a mixed US stockpiles report
 "Oil prices down in thin Asian trade")
 "Wheat output, procurement may fall")
Cotton yarn exports to decline 15% on slowdown in Chinese demand
Fall in intake from China, with effort to push shipments elsewhere not enough; share prices of spinning companies slump due to margin pressure
 "Cotton yarn exports to decline 15% on slowdown in Chinese demand")