Page 667 - Commodity News

Brent oil falls fourth time in five days on Europe's economic woes

WTI for September delivery dropped 69 cents, or 0.7 per cent, to $96.90 a barrel on the New York Mercantile Exchange

Brazil coffee crop may cause supply deficit

The Brazilian crop is officially estimated to decrease by 9.3% to 44.57 mn bags for 2014-15 crop year

Global gold demand slumps 16% in Q2

Jewellery demand was almost a third lower, according to a WGC report

Gold demand dips 39% in June quarter

World Gold Council: Progress of the monsoon will be a factor in determining if investment demand for gold recovers

Supply shortage stokes domestic potato prices

The price of potato has risen 20% in the past month. They're now Rs 25-40 a kg in the retail market across India

28% gold demand to be met through unofficial channels

'Since, the imposition of 80:20 rule, around 200 tonnes of gold was imported through unofficial channel into India'

Gold import down 43% to 351 tonnes in H1, 2014

Overall import in 2014 is likely to be lower than 825 tonnes recorded last year

Palm oil down 0.7% on low demand

Oil for delivery in August contract shed 0.67%

Silver up 0.2% on global cues

Metal for delivery in September traded higher by 0.17%

Zinc down 0.2% on weak demand

Metal for delivery in September fell marginally by 0.21%

Cardamom down 0.3% on profit-booking

Spice for delivery in September contracts traded lower by 0.27%

Mentha oil down 0.1% on higher supply

Oil for delivery in August contract edged lower by 0.07%

Centre's move to end sugar sector impasse

FCI told to clear stock within 18 months of procurement

Food minister Ram Vilas Paswan says quality of rice starts deteriorating after 14 months, hence the directive

NCDEX to launch forward contracts for maize, sugar

Sets a one-time admission fee of Rs 50,000 and annual membership of Rs 10,000 to attract participation from farmers and processors

Jute sector in crisis as Punjab cracks down on mills

The jute industry has capacity to manufacture about two million tonnes of jute bags every year valued at Rs 10,000 crore

Court directs UP sugar mills to liquidate stock

Tells mills to sell 5% of their stock every week; fixes Rs 3,100/quintal as floor price

FMC suspends futures trading in potato temporarily

All open positions in August and September contracts, however, will be settled at the last available daily settlement price of the respective contracts

FMC allows MCX to discontinue potato futures

Approval has been given since the said contracts are no longer serving the purpose of price discovery and hedging

Veg oil imports up 25% in July: SEA

Thus, causing the imports to reach a record of 1.1 million tonnes