Page 567 - Commodity News
Kerala to develop model vannamei farming
The trial culture of vannamei, an exotic white leg shrimp, was started in the state after an expert committee studied the scientific and technical aspects of the project
 "Kerala to develop model vannamei farming")
 "Unprecedented sugar glut sweeps world")
Brent crude oil slides to $53/barrel on supply glut
Brent, which rose to a session high of $54.38, was trading at $53.11, down 33 cents, by 1016 GMT
 "Brent crude oil slides to $53/barrel on supply glut")
RBI further restricts gold imports
The central bank asked banks not to sell gold imported on consignment basis to jewellers on outright basis
 "RBI further restricts gold imports")
Mentha oil down 0.7% on profit-booking
The commodity for April delivery traded down by 0.65%
 "Mentha oil down 0.7% on profit-booking")
Cardamom falls by 1.3% on sluggish demand
Ample stocks in the physical markets following higher supplies from the major producing belts weighed on cardamom prices
 "Cardamom falls by 1.3% on sluggish demand")
Gold futures fall by 0.2% on global trend
Participants engaged in trimming positions amid weak global cues
 "Gold futures fall by 0.2% on global trend")
Nickel down by 0.6% on weak demand
Speculators reduced their positions, driven by weak demand from alloy-makers in the spot market
 "Nickel down by 0.6% on weak demand")
Zinc down by 0.3% on global cues
Low demand at domestic spot markets also influenced the sentiment
 "Zinc down by 0.3% on global cues")
Crude oil up by 0.2% on overseas cues
Speculators created positions even as it fell to near six-year lows in Asian markets
 "Crude oil up by 0.2% on overseas cues")
Silver futures down by 0.5% on global cues
Speculators reduced their exposures amid a weak trend overseas
 "Silver futures down by 0.5% on global cues")
Copper down by 0.4% on global cues
Speculators engaged in trimming positions amid a weak global trend
 "Copper down by 0.4% on global cues")
Oil prices mixed in Asia; US crude near six-year lows
Oil prices have dropped about 60% since June last year on mounting US supplies, weak global economic growth
 "Oil prices mixed in Asia; US crude near six-year lows")
Coffee prices decline on good crop prospects in Brazil
Farm gate prices in the growing regions of Karnataka have shown a decline of 20 per cent in the last two months
 "Coffee prices decline on good crop prospects in Brazil")
Jewellers urge govt to exempt sector from PAN card ambit
Finance Minister Arun Jaitley, in the Union Budget, proposed PAN requirement for any cash purchase over Rs 100,000
 "Jewellers urge govt to exempt sector from PAN card ambit")
Muted start for new tea season
Most varieties clocked prices lower than last year, something not seen in recent years
 "Muted start for new tea season")
K'taka tobacco growing areas better in socio-eco development
Mysuru and Hassan together constitute about 75 per cent of tobacco production in Karnataka
 "K'taka tobacco growing areas better in socio-eco development")
Palasa cashew processing capacity doubles
The processing capacity has increased to 500-550 tonne a day from about 250 tonne three years ago
 "Palasa cashew processing capacity doubles")
Sugar prices at five-year low, falls Rs 70 per quintal
Marketmen attributed the fall to heavy stocks against weak demand from bulk consumers, such as ice-cream and soft-drink makerson sustained supplies from mills
Cardamom prices drop by 2.1% on profit-booking
Fall in demand at spot market also put pressure on prices