Page 869 - Commodity News
Mustardseed down 1.4% on weak spot cues
Marketmen said increased arrivals and reduced offtake by oil mills in physical markets put pressure on traders to minimise holdings
 "Mustardseed down 1.4% on weak spot cues")
Mentha oil down 2.2% on profit-booking
Oil for delivery in October declined by 2.13%
 "Mentha oil down 2.2% on profit-booking")
Potato down over 1% on subdued demand
Potato for delivery in March declined by 0.91%
 "Potato down over 1% on subdued demand")
Crude palm oil declines 2.3% on profit-booking
Oil for delivery in September shed 1.61%
 "Crude palm oil declines 2.3% on profit-booking")
Cardamom down 1.3% on profit booking
Adequate stocks availability in the physical market influenced the cardamom futures
 "Cardamom down 1.3% on profit booking")
Silver futures slide 1.9% on weak global trend
Silver prices for delivery in far-month March contracts lost 1.69%
 "Silver futures slide 1.9% on weak global trend")
Gold futures down over 1% on weak global cues, higher rupee
Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas
 "Gold futures down over 1% on weak global cues, higher rupee")
Zinc down 0.5% on subdued demand, weak global cues
Zinc for delivery in September traded lower by 0.52%
 "Zinc down 0.5% on subdued demand, weak global cues")
Lead down by 0.8% on subdued spot demand
Weakness in copper and other base metals overseas also affected prices
 "Lead down by 0.8% on subdued spot demand")
Nickel down by 1.4% on global cues
Subdued domestic demand, particularly from alloy-makers also affected prices
 "Nickel down by 1.4% on global cues")
Copper fall 0.9% on global cues
Profit-booking by speculators after recent gain also weighed on copper prices
 "Copper fall 0.9% on global cues")
Vietnam wants more of Indian rubber industry
Vietnam's NR export to India jumped to 51,273 tonnes in 2012-13 from 28,114 tonnes in 2011-12
 "Vietnam wants more of Indian rubber industry")
Jute industry opposes new procurement system
Industry argues that transition to the new system will not be a smooth affair wherein the industry may lose out
 "Jute industry opposes new procurement system")
Guar prices rise 70% on potentially high demand
In the beginning of August, the spot price of guar seed was close to Rs 5,000 a quintal, which has risen to Rs 8,275 a quintal at present
 "Guar prices rise 70% on potentially high demand")
Onion, cotton may lose export incentives
Some products like onion on the one hand avail of export incentives under Focus Market Scheme or Focus Product Scheme while on the other hand they face curbs
 "Onion, cotton may lose export incentives")
Sugar Outlook: Fresh buying to push up prices
However, pricing, cane reservation area and minimum distance between two mills were left to the state governments
Weak aluminium prices may impact Hindalco's financials in FY14
Kumar Mangalam Birla says RBI mesures like 5.5% increase in WPI for FY14 affects company's growth, performance
 "Weak aluminium prices may impact Hindalco's financials in FY14")
FMC slaps additional 5% margin on base metals
A margin is initial minimum amount of cash an investor must put up to open an account to start trading
Russia lifts ban on rice imports from India
Ban on peanut imports also removed; exports of both commodities to resume with immediate effect
 "Russia lifts ban on rice imports from India")
DGFT relaxes gold supply norm
Requirement of inward remittance certificates done away with
 "DGFT relaxes gold supply norm")