Page 719 - Commodity News
MP likely to miss wheat procurement target again
Most of the quantity procured is kept under kachha cap, triggering a loss of nearly 10-12%, against state claims of 11.2 mn storage capacity
 "MP likely to miss wheat procurement target again")
Brent rises above $108 on renewed Ukraine tensions
Brent crude was up 47 cents after touching a 1-1/2-week high of $109.02 on FridayBrent crude was up 47 cents at $108.36 by 0836 GMT after touching a 1-1/2-week high of $109.02 on Friday
 "Brent rises above $108 on renewed Ukraine tensions")
Onion exports up 25% in FY14 on higher unit value
Country's total onion exports had stood at Rs 2,294 crore in the 2012-13 fiscal
 "Onion exports up 25% in FY14 on higher unit value")
Mentha oil up 0.9% on spot demand
Oil for delivery in May gained 0.83%
 "Mentha oil up 0.9% on spot demand")
Cardamom up 0.6% on rising demand
Spice for delivery in June contract edged up by 0.13%
 "Cardamom up 0.6% on rising demand")
Chana up 0.3% as demand picks up
Commodity for delivery in May gained 0.27%
 "Chana up 0.3% as demand picks up")
Copper up 0.4% on global cues
Metal up 0.3% on LME
 "Copper up 0.4% on global cues")
Nickel extends gains on global cues, surges 2.6%
Traders create fresh positions as metal gains as much as 3.7% on LME
 "Nickel extends gains on global cues, surges 2.6%")
Silver futures decline by 0.13% on global cues
Metal sheds 0.6% abroad over fears that US Fed will press on with reducing monetary stimulus
 "Silver futures decline by 0.13% on global cues")
Gold futures shed 0.31% on global cues
Traders pare positions as metal loses 0.7% abroad over fears that US Fed will press on with reducing monetary stimulus
 "Gold futures shed 0.31% on global cues")
Oil prices rise after eastern Ukraine independence vote
New York's main contract, West Texas Intermediate was up nine cents to $100.08 for June delivery
 "Oil prices rise after eastern Ukraine independence vote")
 "Rise in cotton prices puts pressure on yarn margins")
Gold imports down 74% to $1.75 bn in April
India's CAD touched a historic high of 4.8% of GDP in 2012-13
 "Gold imports down 74% to $1.75 bn in April")
Ind-Ra assigns stable outlook for jewellery exporters for FY15
Says exporters are likely to report moderate revenue growth of 4-5% y-o-y in FY 2015
 "Ind-Ra assigns stable outlook for jewellery exporters for FY15")
India's sugar output to be 24.8 mn tonne: USDA
Country had already produced 23.15 mn tonne sugar till April 15 of current October-September season
 "India's sugar output to be 24.8 mn tonne: USDA")
Cotton yarn exports in FY14 estimated at $ 4.70 billion
Statistics by Texprocil show that India exported 1,082 million kgs of cotton yarns valued at $3.75 billion in the first 10 months of 2013-14
 "Cotton yarn exports in FY14 estimated at $ 4.70 billion")
Gold imports down 74% to $1.75 billion in April
Imports of gold in April 2013 stood at $6.78 billion
Gold claws back on stray demand; silver extends slide
Globally, the yellow-metal remained under intense selling pressure following better-than-expected jobless data amid optimism about the US economy
 "Gold claws back on stray demand; silver extends slide")
Thailand plans to sell 200,000 tonne rubber stock
Caretaker Agriculture Minister Yukol Limlaemthong told Thai media last week that stocks would be released to avoid further losses
 "Thailand plans to sell 200,000 tonne rubber stock")
Global rubber prices slide to 5 year lows
In all the 6 contracts, commencing from May, prices have dropped in a range of 1-3%
 "Global rubber prices slide to 5 year lows")