Page 587 - Commodity News
Guar gum futures rise on heavy buying
Besides, increased demand due to fall in supply of guarseeds from growing regions led to rise in prices
 "Guar gum futures rise on heavy buying")
 "Oil falls before supply data as energy stocks, Greek bonds drop")
Coffee exports to fall 10% on lower arabica output
Attacks by the stem borer pest and dry weather have hit arabica output
 "Coffee exports to fall 10% on lower arabica output")
Sugar output rises by 15% at 13.48 million tons in Oct-Jan
ISMA has demanded extension of export incentive on raw sugar at the earliest as mills in Maharashtra and Karnataka are in dilemma whether to produce raw sugar or not
 "Sugar output rises by 15% at 13.48 million tons in Oct-Jan")
Gold futures gain 0.3% on global cues
Speculators indulged in creating fresh positions amid a firm global trend
 "Gold futures gain 0.3% on global cues")
Oil prices down in volatile Asian trade
Dealers were divided on whether the commodity has bottomed out after a plunge of nearly 60% since June
 "Oil prices down in volatile Asian trade")
Iron ore miners urge govt to abolish export duty
Claims 30% levy to discourage ore exports and promote domestic steel production is counter-productive
 "Iron ore miners urge govt to abolish export duty")
Cheap paper import hurts domestic manufacturers
Despite deficiency, capacity utilisation declines to 89% as imported paper works out 20% cheaper than the domestic output
 "Cheap paper import hurts domestic manufacturers")
Cotton cultivation in next kharif may dip 15% if prices remain low
In 2014-15, cotton area under cultivation was around 13 mn hectares in India for 2014-15, about 1.5 mn hectares higher than the previous year's
 "Cotton cultivation in next kharif may dip 15% if prices remain low")
Tea Board sets stage for Tea Act amendment
A significant addition to the Act is the definition of 'small tea grower'
 "Tea Board sets stage for Tea Act amendment")
Crude palm oil softens by 0.1% on sluggish demand
Speculators reduced positions, driven by subdued demand in the spot market
 "Crude palm oil softens by 0.1% on sluggish demand")
Cardamom plunges by 1.8% on profit-booking
Besides, adequate stocks position in the physical market on increased arrivals from producing belts put pressure on cardamom prices
 "Cardamom plunges by 1.8% on profit-booking")
Mentha oil up by 0.7% on tight supply
Speculators enlarged positions, triggered by tight supplies from producing belts at spot market
 "Mentha oil up by 0.7% on tight supply")
Lead up by 0.5% on firm spot demand
Firming trend in the entire base metal pack at the London Metal Exchange (LME), also influenced prices
 "Lead up by 0.5% on firm spot demand")
Silver futures down 0.3% on weak overseas cues
Speculators reduced their exposures amid weak trend in the global markets
 "Silver futures down 0.3% on weak overseas cues")
Copper up 1.2% on global cues
Speculators created fresh positions on firm global cues
 "Copper up 1.2% on global cues")
Gold futures down 0.2% on weak global cues
Speculators offloaded their positions amid a weak global trend
 "Gold futures down 0.2% on weak global cues")
Crude oil up by 1.2% on overseas cues
Speculators engaged in enlarging positions, tracking a firming trend in Asia
Oil prices extend gains in Asia
US firms cut drilling activity, but analysts doubt the rebound will be sustained as supplies still far outweigh demand
 "Oil prices extend gains in Asia")
Sponge iron prices bottom out, fall 5% in January to touch cost of production
Producers urge NMDC to cut ore price
 "Sponge iron prices bottom out, fall 5% in January to touch cost of production")