Page 659 - Commodity News
FTIL sells 5% stake in MCX, completes exit
FTIL's exit is expected to provide respite to MCX, which has been struggling to secure approvals for its contracts
 "FTIL sells 5% stake in MCX, completes exit")
UP sugar cane allocation meetings next month
Private mills to abstain from meetings like last year
 "UP sugar cane allocation meetings next month")
US recovery sets positive tone for base metals
Most recover from recent lows, trend likely to continue
 "US recovery sets positive tone for base metals")
India to turn big importer of iron ore in FY15
Steel industry forced to increase shipments due to declining domestic production
 "India to turn big importer of iron ore in FY15")
Spices Board invites EoI for cardamom auction
In 2007 the Spices Board revolutionised the E-auction system for small cardamom by introducing electronic auction
 "Spices Board invites EoI for cardamom auction")
India Rubber Meet in March
Meet is a major initiative of Indian rubber industry to organise a regular forum for interaction
 "India Rubber Meet in March")
Onion sowing picks up in Maharashtra owing to good rainfall
Maharashtra is the largest producer of onion in the country and is one of the primary determinants of the wholesale and retail prices of the crop
 "Onion sowing picks up in Maharashtra owing to good rainfall")
Mustardseed down 0.8% on weak trend in spot market
Marketmen said the fall in mustardseed prices at futures trade was mostly attributed to a weak trend at spot markets
 "Mustardseed down 0.8% on weak trend in spot market")
Jeera up 0.5% on spot demand
Spice for delivery in October traded higher by 0.4%
 "Jeera up 0.5% on spot demand")
Castorseed up 0.3% on short-covering
Most active first contract September month also recovered by 0.26%
 "Castorseed up 0.3% on short-covering")
Aluminium down 0.3% on global cues
Metal for delivery in September traded lower by 0.28%
 "Aluminium down 0.3% on global cues")
Zinc down 0.4% on subdued demand
Marketmen said besides low demand at domestic spot markets, a weak trend in base metals at the LME, put pressure on the metal
 "Zinc down 0.4% on subdued demand")
Nickel down 0.2% on global cues
Metal for delivery in September shed 0.18%
 "Nickel down 0.2% on global cues")
Lead down by 0.1% on weak overseas cues
Speculators reduced their exposures amid a weak trend
 "Lead down by 0.1% on weak overseas cues")
Copper weakens by 0.4% on global cues
Speculators trimmed positions, tracking a weak trend overseas
 "Copper weakens by 0.4% on global cues")
Chana declines by 0.2% on increased supplies
Weak demand from dal mills also affected prices
 "Chana declines by 0.2% on increased supplies")
Cardamom climbs by 1.5% on rising demand
Speculators enlarged positions supported by rising demand in the spot market
Mentha oil rises by 0.5% on spot demand
Restricted arrivals from producing regions also supported the uptrend
 "Mentha oil rises by 0.5% on spot demand")
Crude palm oil rises by 0.6% as demand picks up
Speculators created fresh positions, taking positive cues from the spot markets
 "Crude palm oil rises by 0.6% as demand picks up")
Branded edible oil producers to cut prices
Global price falls 20% in two months to hit multi-year low on oversupplies, waning El Nino fears and ensuing bumper crops
 "Branded edible oil producers to cut prices")