Page 913 - Commodity News

IEA raises oil demand outlook

Says that in 2014 emerging economies will drive demand to a record 92.0 million barrels per day

Barley falls 1.99% on mounting stocks

Barley prices fell mainly attributes to weak physical markets due to ample supply from mills against reduced off take by beer and cattle feed making industries

Chana declines by 0.35% on increased supply

Good monsoon rains in growing regions fuelled the downtrend in chana prices at futures trade

Potato up by 0.91%, pick up in spot demand

Potato prices moved up as speculators created fresh positions, supported by pick up demand in spot markets

Turmeric falls 1.47% on adequate supply

Turmeric prices fell due to adequate supplies against subdued demand in the spot market

Crude oil down by 0.83% on weak Asian cues

Crude oil prices fell as speculators trimmed positions amid a weakening trend in the Asian trade on profit bookings

Mentha oil weakens by 0.81% on profit-booking

Subdued demand against adequate stocks position on higher supplies in the spot market put pressure on mentha prices

Lead marginally up by 0.8% on overseas trend

Lead futures prices today trade a shade higher at Rs 125.10 per kg largely in line with a firming trend in base metals in the global markets

Cardamom plunges by 3% on weak demand, higher supply

Cardamom prices plunged today as speculators engaged in reducing holdings amid sluggish demand in the spot market

Crude palm oil falls by 0.35% on weak global cues

Offloading of positions by speculators in tandem with a weak global trend influenced Crude palm oil prices

Nickel up by 0.39% on global cues; spot demand

Increased domestic demand from alloy-makers and firmness in base metals overseas influenced Nickel prices

Copper rises by 1% on global cues, spot demand

Copper prices rose by over 1% to Rs 416.30 per kg in futures trade today due to increased demand from consuming industries

Silver futures recover 1.98% on global cues

Silver futures prices today rose sharply by 1.98% to Rs 40,970 per kg as speculators built up fresh positions amid covering-up of short positions

Gold futures rebound on global cues; up 1.44%

Covering-up of short positions by speculators at prevailing levels influenced gold futures prices

Oil prices slip on profit-taking

Bigger-than- expected drop in US crude inventories had fuelled gains

Domestic rubber prices surge on supply crunch, buck global trend

The local price of the benchmark grade, RSS-4, is now Rs 192 a kg, from Rs 177 a kg at end-June

Jewellers suspend bullion sales

GJF urges 0.6 mn members to halt selling bullion to customers to contain the burgeoning CAD

Jute mills face cartelisation charges, get CCI notice

Indian Jute Mills Association represents 34 of the 83 operating mills in the country. Among these, 54 are in West Bengal

Shortage of gold hits diamond and jewellery units

Govt restrictions on import biting deep; trade petitions for relief with units, workers idling

Maize prices up despite higher sowing

Sowing and crop are expected to go up by 3-5% this kharif season