Page 589 - Commodity News
Crude palm oil gains by 0.5% on spot demand
Participants created speculative positions on rising demand in spot markets
 "Crude palm oil gains by 0.5% on spot demand")
Zinc falls by 0.4% on global trend
Speculators offloaded positions amid weak cues from overseas market and subdued spot demand at domestic markets
 "Zinc falls by 0.4% on global trend")
Silver futures gain on fresh positions
Speculators created fresh positions even as the metal weakened in overseas markets
 "Silver futures gain on fresh positions")
Nickel declines by 0.5% on subdued demand
Speculators trimmed positions amidst low demand from alloy makers in the spot market
 "Nickel declines by 0.5% on subdued demand")
Lead falls by 0.4% on low demand
Weakness in base metals at the LME also affected prices
 "Lead falls by 0.4% on low demand")
Copper declines by 0.7% on global cues
Subdued demand from consuming industries fuelled the downtrend
 "Copper declines by 0.7% on global cues")
Oil slumps to near six-year low under $44
Record-high US crude inventories deepened worries over the global supply glut
 "Oil slumps to near six-year low under $44")
Global mines to increase capex for copper, gold
Outlook for iron ore has sharply deteriorated following sharp fall in prices in last few months
 "Global mines to increase capex for copper, gold")
Goa govt to seek changes in MMDR Ordinance
Says government's decision mandating discharge of dumps at mine sites not feasible
 "Goa govt to seek changes in MMDR Ordinance")
Power producers hurl coal quality, pricing charges at CIL again
CIL says inspection procedure under progress, billing according to agreement
 "Power producers hurl coal quality, pricing charges at CIL again")
Horticulture price stabilisation scheme might receive lukewarm response
Nominated agencies Nafed and NCCF not to participate due to 100% profit sharing and CAG audit clauses, SFAC to procure 10k tonnes potato and 6k tonnes onion with own corpus
 "Horticulture price stabilisation scheme might receive lukewarm response")
Global shrimp prices up as supply crunch on the anvil
Prices for 150/250 count shrimp has ticked up over 6.5% from last week to $7.20 per pound
 "Global shrimp prices up as supply crunch on the anvil")
Crude oil prices might pick up in a year
Demand growth is forecast to pick up this year from last, but is not expected to exceed 900,000 bpd
 "Crude oil prices might pick up in a year")
Steel firms fear price war, ask NMDC for lower iron ore prices
Faced with high ore prices and cheaper import from Russia, China
 "Steel firms fear price war, ask NMDC for lower iron ore prices")
Coir Kerala in February
In 2013-14, coir exports were worth around Rs 1,476 cr, up from Rs 1,116 cr in 2012-13 and Rs 1052 cr in 2011-12
Olivier bugs in groundnut export consignments from India to Vietnam
These bugs normally take birth in commodities like groundnut with high moisture on pre-mature harvesting and improper handling
 "Olivier bugs in groundnut export consignments from India to Vietnam")
Oil holds above $48 a barrel after US stocks hit record high
US crude futures fell to an intraday low of $44.08 a barrel, the weakest level since April 2009, but Brent held up relatively well
 "Oil holds above $48 a barrel after US stocks hit record high")
FCI set to procure more wheat this season
The paddy procurement that has been pegged at 30 million tonne which will meet targets
 "FCI set to procure more wheat this season")
Barley up 0.8% on short-covering
April contracts rose by 0.45%
 "Barley up 0.8% on short-covering")
Palm oil up 0.5% on spot demand
Oil for delivery in January edged up by 0.14%