Page 949 - Commodity News
CCEA okays sale of 10.5 mn tonne FCI foodgrains in open mkt
However, proposal for wheat exports not discussed
 "CCEA okays sale of 10.5 mn tonne FCI foodgrains in open mkt")
Silver futures up 0.1% on firm global cues
Silver for delivery in July traded higher by 0.05%
 "Silver futures up 0.1% on firm global cues")
Copper recover by 0.1% on global cues; spot demand
Market analysts attributed the rise in copper futures to a recovery in the global market
 "Copper recover by 0.1% on global cues; spot demand")
Cardamom up 0.6% as demand picks up
Cardamom for delivery in the August contract edged up by 0.39%
 "Cardamom up 0.6% as demand picks up")
Potato slide 1% on subdued demand
Potato for delivery in July contracts declined by 0.92%
 "Potato slide 1% on subdued demand")
Crude palm oil down 0.7% on profit-booking
According to analysts sluggish demand in the spot market mainly kept pressure on crude palm oil prices at futures trade
 "Crude palm oil down 0.7% on profit-booking")
Mentha oil up 0.9% on pick-up in industrial demand
Mentha oil for delivery in the July contract traded higher by 0.98%
 "Mentha oil up 0.9% on pick-up in industrial demand")
Gold rebounds by 0.7% in futures trade on global cues
Gold for delivery in August was up by 0.26%
 "Gold rebounds by 0.7% in futures trade on global cues")
Gold hits 33-month low in global market, may fall more
Gold tumbled 3.4% on previous session's settlement to $1,304.90 a troy ounce during European morning trade, its lowest price since September 2010
 "Gold hits 33-month low in global market, may fall more")
Industrial commodities fall on Fed's stimulus pullback signals
Metals take a hard knock on Fed move
 "Industrial commodities fall on Fed's stimulus pullback signals")
Coffee exporters feel the heat as prices soar
Brazil is the world's top coffee grower and mainly produces the aromatic arabica variety
 "Coffee exporters feel the heat as prices soar")
 "Daily average aluminium output falls to 68,100 tonnes")
Commodity Tax from July
Rules notified, to cover all processed agri products and 95% of comtrade business
 "Commodity Tax from July")
Maize exports up by 24% in FY'13
Maize exports increased in value terms to $1302 million in 2012-13
 "Maize exports up by 24% in FY'13")
Around 95% of commodity futures business to attract CTT
During 2012-13, all registered commexes witnessed total accumulative turnover of Rs 17,046,840.09 crore as against Rs 18,126,103.78 crore in previous financial year
 "Around 95% of commodity futures business to attract CTT")
Gold futures extend losses by 3.5% on global cues, subdued spot demand
At the spot markets, gold traded Rs 400 lower at Rs 28,000 per 10 grams in the national capital
 "Gold futures extend losses by 3.5% on global cues, subdued spot demand")
Silver futures fall below Rs 42k level, tumble 6%
Silver for delivery in September contracts crashed by 5.98%
Gold falls to two-month lows on stimulus outlook
A scale-back of the $85 billion monthly asset purchases is likely to weaken support for gold prices
 "Gold falls to two-month lows on stimulus outlook")
CTT on non-farm products from July 1
The tax would be levied on futures trading and not on spot trading in the commodities
 "CTT on non-farm products from July 1")
Sugar up 0.2% in trade
Market analysts attributed the rise in sugar futures to fresh positions created by speculators after a rise in demand in the spot market.
 "Sugar up 0.2% in trade")