Page 892 - Commodity News

Pulses on crash course, fall below MSP

Traders fear farmers' could shift to cotton, sugarcane next season; demand its inclusion in Food Security Bill

Cotton harvest in India may reach a new high to record on higher planting

Production to reach a record as growing areas have received very good rains

Gold trades at big premium as import restriction hits supply

Premiums for delivery Rs 900 per 10 gram, importers, traders mint monet due to restriction on imports

Steel import norms eased for mega projects

India imports five-six million tonnes of specialised steel every year, similar to the quantity the country exports. Total annual steel production is estimated to be 72 mt

Refined soya oil moves up by 0.4% on spot demand

Oil for August contract traded higher by 0.26%

Chana down 1.2% on adequate supply

Chana for August contract lost 1.20%

Crude palm oil up 0.5% on spot demand

Crude oil for August contract edged up by 0.48%

Potato falls by 3.6% on adequate supply

Adequate supplies position in the physical market following increased arrivals from producing region affected prices

Mentha oil falls by 1.1% on weak demand

Higher supplies on increased arrivals mainly led to the downtrend

Cardamom up by 4% spot demand

Some exports enquiries and restricted arrivals from producing regions due to heavy rains also supported the upswing

Lead up by 0.8% on spot demand

Strong domestic demand from battery-makers mainly attributed rise in lead prices

Aluminium rises by 0.6% on global cues

Better demand in the spot markets also influenced metal prices

Zinc up by 0.8% on overseas cues

Improved demand in the spot market also influenced prices

Nickel futures up 0.7% on global cues

Speculators enlarged their positions amid a firming trend in base metals overseas

Copper gains by 1.5% on global cues

Increased demand at domestic spot markets from consuming industries also influenced copper prices

Silver futures up 0.7% on global cues; short-covering

Participants built up fresh positions, tracking a firming overseas trend

Gold futures up 0.4% on firm global cues

Speculators enlarged positions, largely in tandem with a firming trend overseas

Early Himachal apple burst sees prices plunge

Bumper crop has led to prices plunging to record lows early in the harvest season

Retain 30% duty on iron ore exports: Karnataka steelmakers

Seek urgent intervention of commerce and steel ministries

Excess rains likely to damage 5-7% of kharif crop

Concern at possible fall below last year's foodgrain output, if no let-up in rainfall in the next 2 weeks