Page 569 - Commodity News
Brent crude oil climbs above $58/barrel as dollar weakens
The dollar was down 0.4 per cent against a basket of currencies, making dollar-traded commodities such as crude oil more attractive to holders of other currencies
 "Brent crude oil climbs above $58/barrel as dollar weakens")
Compulsory registration rule relaxed for groundnut exports
Move may increase groundnut shipments from India
 "Compulsory registration rule relaxed for groundnut exports")
Weak Brazilian real affects sugar exports
Brazilian real's weakness and lower global sugar prices have badly affected Indian exports
 "Weak Brazilian real affects sugar exports")
Demand for platinum jewellery picking up
World Platinum Investment Council believes total supply of platinum for 2015 will be 20% higher at 7,965 koz
 "Demand for platinum jewellery picking up")
Maharashtra economy to take Rs 10,000-cr hit due to beef ban
50,000 people directly involved in beef business and 100,000 indirectly employed are being rendered jobless
 "Maharashtra economy to take Rs 10,000-cr hit due to beef ban")
Gold falls by Rs 130 on global cues, sluggish demand
Traders said besides weak global trend where gold dropped to a three-month low of $1,147.72 as strengthening dollar cut demand for the precious metals as an alternative, mainly kept pressure on gold p
 "Gold falls by Rs 130 on global cues, sluggish demand")
Import duty on rubber may be raised to 25%: Sitharaman
According to Commerce Minister, a methodology is being evolved to monitor the usage of imported rubber to push domestic demand
 "Import duty on rubber may be raised to 25%: Sitharaman")
Mentha oil falls by 0.3% on profit-booking
Speculators booked profits at prevailing levels amid a fall in demand in the spot market
 "Mentha oil falls by 0.3% on profit-booking")
Crude palm oil falls by 0.6% on low demand
Participants offloaded positions amid a weak trend at spot market on subdued demand
 "Crude palm oil falls by 0.6% on low demand")
Aluminium up by 0.2% in futures trade
Speculators enlarged exposures on pick-up in spot demand and a firming trend in base metals overseas
 "Aluminium up by 0.2% in futures trade")
Copper fall by 0.1% on profit-booking
Speculators trimmed their positions to book profits amid subdued domestic demand
 "Copper fall by 0.1% on profit-booking")
Cardamom down by 0.6% on low demand
Speculators reduced positions amidst low demand in the spot market
 "Cardamom down by 0.6% on low demand")
Nickel up by 0.5% on positive global cues
Speculators built-up positions amid a firming trend in base metals at the London Metal Exchange (LME)
 "Nickel up by 0.5% on positive global cues")
Oil prices higher in Asian trade
Gains were however capped as dealers fretted over an oversupplied global market after US crude reserves once again swelled to a record high
 "Oil prices higher in Asian trade")
Beef ban in Maharashtra to hit leather industry in Tamil Nadu
Amid raw material shortage, leather products' output set to decline
Use e-auction to procure agri commodities: Govt to states
Govt adopting all routes possible to take states on board for mandi linking program
 "Use e-auction to procure agri commodities: Govt to states")
Bullion dealers' body IBJA might get recognition as Gold Council
Members import gold worth around Rs 300,000 cr annually in India
 "Bullion dealers' body IBJA might get recognition as Gold Council")
India's beef boom threatened as old tensions flare
The country ranks sixth in the world among beef consumers, and demand is up 4.2 per cent in the past five years
 "India's beef boom threatened as old tensions flare")
Silver futures rise 0.3% on global cues
Speculators enlarged positions amid a firming trend overseas
 "Silver futures rise 0.3% on global cues")
Cardamom falls by 1.7% on adequate stocks
Speculators indulged in reducing their positions amid adequate stocks position at spot market against subdued demand