Page 713 - Commodity News
Refined soya oil weakens marginally as demand declines
Sheds 0.19% as inventories pile up
Chana down 0.51% on sluggish demand
Traders pare positions as higher arrivals from growing belts fuel downtrend
 "Chana down 0.51% on sluggish demand")
Turmeric futures sheds 1.73% on subdued demand
Traders pare exposure on higher arrivals from producing belts
 "Turmeric futures sheds 1.73% on subdued demand")
Gold premia crash on import relaxation
Gold prices fell to Rs 28,200/10g, a 10-month low
 "Gold premia crash on import relaxation")
 "CBI examines Sebi chief U K Sinha")
FMC asks MCX to check Deloitte audit
MCX has been asked to ascertain by the regulator whether there were discrepancies at the commodity exchange that could have been observed and reported by Deloitte
 "FMC asks MCX to check Deloitte audit")
Coconut oil on boil, price crosses Rs 180/kg on drop in production
The production in Tamil Nadu and Kerala has been down 50% due to extreme summer heat
 "Coconut oil on boil, price crosses Rs 180/kg on drop in production")
April steel output growth outpaces global average
Domestic steel production up 5.3% compared to world average growth of 1.7%
 "April steel output growth outpaces global average")
FMC raps UCX, NMCE over wash trades
After the forensic audit of MCX by PwC, FMC conducted inspections at all commodity exchanges during the last week of March
 "FMC raps UCX, NMCE over wash trades")
Gold tanks to 10-month low as RBI eases import curbs
In contrast, silver gained further ground on stray demand from consuming industries
 "Gold tanks to 10-month low as RBI eases import curbs")
Chana rebounds 0.35% as demand picks up
Traders create fresh positions on firm trends in spot market
Crude palm oil extends gains on rising demand
June contract up 0.15% as speculators enlarge positions
 "Crude palm oil extends gains on rising demand")
Mentha oil extends gains on strong demand
Commodity up 0.34% as traders enlarge positions on positive cues from spot market
 "Mentha oil extends gains on strong demand")
Refined soya oil extends gain on rising demand
Commodity gains 0.15% as traders enlarge positions on wedding season offtake
Gold futures edge up on global cues
June, August contracts u[ 0.3%, as traders create fresh positions after metal stages recovery abroad
 "Gold futures edge up on global cues")
RBI relaxes gold import norms
Export houses allowed to import, banks can lend yellow metal to jewellers
Tea output rises 8% to 1,224.5 mn kg in 2013-14
Assam & West Bengal are the major producing states, accounting for 80% of India's total output
 "Tea output rises 8% to 1,224.5 mn kg in 2013-14")
More basmati sowing possible this year
Sources in Apeda said there were indications of a 5 to 10% rise
 "More basmati sowing possible this year")
Rubber glut seen persisting two more years on slowdown
Futures in Tokyo, the global benchmark contract, have tumbled 26% this year, touching a four-year low in April
 "Rubber glut seen persisting two more years on slowdown")
Raw cashew output may fall 30% on crop damage
Raw cashew nut prices rise 14% to Rs 85 per kg
 "Raw cashew output may fall 30% on crop damage")