Page 600 - Commodity News
Sugar production up 27% in Q1 of crushing season
Delay in cane price fixation and arrears payable by mills to farmers led to factories delaying crushing this season
 "Sugar production up 27% in Q1 of crushing season")
Govt calls meeting to discuss gold supply to exporters
Will discuss how to ensure consistent and uninterrupted supply of gold to gold jewellery exporters
 "Govt calls meeting to discuss gold supply to exporters")
Oil goes below $55, its lowest since May 2009
Brent crude for February dropped as low as $54.02 a barrel, down $2.40 from Friday's close
 "Oil goes below $55, its lowest since May 2009")
FMC gives NCDEX nod to launch forwards in 7 more commodities
Regulator says terms of contract should not be changed without prior approval
 "FMC gives NCDEX nod to launch forwards in 7 more commodities")
Oilmeal exports decline 45% in April-November
The country registered a record 5.60 mn tonne oilmeal exports in 2011-12
 "Oilmeal exports decline 45% in April-November")
Gold up Rs140; silver adds Rs 515 wedding demand, global cues
Gold in Singapore, which normally sets the price trend on the domestic front, rose by 0.8 per cent to $1,197.97 an ounce and silver by 2.2 per cent to $16.08 an ounce
 "Gold up Rs140; silver adds Rs 515 wedding demand, global cues")
Copper extend weakness on global cues
Sentiment in copper remained bearish after it fell in global markets on speculation that demand will weaken
 "Copper extend weakness on global cues")
Mustard seed sheds 0.9% on hopes of good crop
Traders pare exposures on reports of favourable weather in growing regions
 "Mustard seed sheds 0.9% on hopes of good crop")
Cottonseed oilcake up 1.1% on fresh buying
Traders build positions on rising demand in physical markets
 "Cottonseed oilcake up 1.1% on fresh buying")
Guargum plunges by Rs 210 a quintal on weak trend
Speculators reduce positions on fall in export demand, higher arrivals from producing belts
 "Guargum plunges by Rs 210 a quintal on weak trend")
Refined soya oil gains 0.53% as demand picks up
Traders enlarge positions as restricted arrivals from produding belts support uptrend
Mentha oil down 0.5% on low demand
Speculators trimmed their positions amidst low demand from consuming industries in spot market
 "Mentha oil down 0.5% on low demand")
Stay away from gold for a while
Forecasts suggest subdued price and demand outlook; bank FDs and other assets giving better returns
 "Stay away from gold for a while")
Traded volume of forward contracts at NCDEX tops 4,800 tonnes
The top three traded commodities were castor seed, refined soya oil and chana
 "Traded volume of forward contracts at NCDEX tops 4,800 tonnes")
Iron ore output likely to rise by 10% in 2015
More mines are set to restart operations in Karnataka, Goa and Odisha towards the second half of this year
 "Iron ore output likely to rise by 10% in 2015")
Gold rebounds on renewed buying interest; silver moves up
Standard, pure gold add Rs 100 per ten grams each, Silver gains Rs 95 a kg
 "Gold rebounds on renewed buying interest; silver moves up")
FMC revises norms for daily price limit of commodities
FMC's decision comes in the wake of market participants' contention that the absence of such a directive was creating operational difficulties in the market
Tea exports fall 15% to Rs 1,718.07 cr in first 6 mths of FY15
In the April-September period of last year, the total value of tea exports was Rs 2,014.65 crore
 "Tea exports fall 15% to Rs 1,718.07 cr in first 6 mths of FY15")
India exports 4% less coffee, earns 6% more
The export realisation was Rs 1,65,529 per tonne in 2014, higher than Rs 1,50,215 per tonne in the previous year
 "India exports 4% less coffee, earns 6% more")
Base metals to remain subdued with narrow volatility in 2015
Analysts say much would depend on the US Fed's decision on an interest rate rise to set a direction; demand seen as unfavourable
 "Base metals to remain subdued with narrow volatility in 2015")