Page 964 - Commodity News
Commodity exchanges turnover declines 11% on shift to riskier assets
Data by the Forward Markets Commission, showed national commodity futures exchanges had a turnover of Rs 6,17,814 crore between May 1 and May 15
 "Pepper futures 'free from mineral oil' to be re-launched")
MCX steps up efforts on agri commodities
Guar contracts attract significant traders' interest
 "MCX steps up efforts on agri commodities")
FMC approves pepper re-launch with mandatory mineral oil wash
FMC would mention the clause of 'free from oil wash' on contract specifications of all exchanges before final approval
 "FMC approves pepper re-launch with mandatory mineral oil wash")
Comexes turnover decline 11% on traders' shift towards riskier assets
Rangebound movement in commodity prices n both agri, non-agri sectors let to decline in turnover on COMMEX
India to lose Rs 11,000 cr metal castings export market on import levy
Effective May 8, the govt levied 2.5% import duty on all types of scrap imports including aluminium, stainless steel, iron and steel
Mentha oil rises on pick-up in spot demand
Prices moved up as participants increased holdings
 "Mentha oil rises on pick-up in spot demand")
Zinc marginally down on overseas cues
Prices went down as speculators trimmed positions
 "Zinc marginally down on overseas cues")
Lead down 0.6% on global trends
Prices fell as speculators reduced exposures
 "Lead down 0.6% on global trends")
Nickel down marginally on subdued demand
Weakening overseas trend affected the nickel trade here
 "Nickel down marginally on subdued demand")
Copper falls 0.6% on weak global cues
Prices went down as speculators offloaded their positions
 "Copper falls 0.6% on weak global cues")
Silver futures decline by 0.6% on weak overseas trend
In Singapore, silver dropped 0.70% to $22.53 an ounce
 "Silver futures decline by 0.6% on weak overseas trend")
Gold futures weaken 0.3% on global cues
Participants indulging in reducing exposures affected the trade
 "Gold futures weaken 0.3% on global cues")
 "Surplus capacity, cost rises eroding cement margins")
Oilmeal exporters pin hopes on Chinese market
Neighbouring country to lift ban on Indian oilmeal after a year
 "Oilmeal exporters pin hopes on Chinese market")
Byproducts to rescue sugar mills
Ethanol, power to compensate low return on sugar; mills with in-house value addition to realise more
 "Byproducts to rescue sugar mills")
Rubber industry urges govt to abolish Customs duty
At least 294 rubber product manufacturing units, mostly small and tiny, have closed operations in the last five years
 "Rubber industry urges govt to abolish Customs duty")
Punjab rice mills in the red as milling season stretches
A severe space crunch for storage agencies in the state is making matters worse
 "Punjab rice mills in the red as milling season stretches")
Coriander falls over 2% as demand declines
Profit-booking by speculators affected the trade
 "Coriander falls over 2% as demand declines")
Turmeric falls over 1% on profit-booking
Fall in supplies from producing regions capped the losses
 "Turmeric falls over 1% on profit-booking")