Commodities NewsPTI | February 06, 2018 10:46 AM
Global gold demand in 2017 fell by 7 per cent to 4,071.7 tonne compared to 2016 due to lower inflow into ETF, according to a World Gold Council (WGC) report.
Iraq has overtaken Saudi Arabia by a wide margin to become India's top crude oil supplier, meeting more than a fifth of the country's oil needs in the current financial year.
FE Bureau | March 17, 2018 3:40 AM
The alleged PNB fraud involving diamantaire Nirav Modi seems to have shaken confidence of jewellery buyers, especially those purchasing from unorganised jewellers, on concerns of the purity of the precious jewellery, resulting in a drop in the business, according to an Assocham survey.
Geeta Nair | March 17, 2018 3:37 AM
The forging industry is watching the proceedings at the National Company Law Tribunal (NCLT) closely. Steel maker Bhushan Power and Steel and auto component maker Amtek Auto are undergoing insolvency proceedings at the NCLT.
FE Bureau | March 16, 2018 2:55 AM
Import of vegetable oil during February 2018 stood at 1,157,044 tonne, down 9%, as compared to 1,270,443 tonne shipped in February 2017, according to the data of vegetable oil (edible & non-edible) imports for February 2018 compiled by The Solvent Extractors’ Association of India (SEAI).
Surya Sarathi Ray | March 16, 2018 2:52 AM
As mining activities are set to stop in Goa on Friday in compliance with a Supreme Court order, James Frank, a mechanic at Vedanta’s Codli mine in South Goa is one among thousands of workers facing an uncertain future.
Nanda Kasabe | March 16, 2018 2:49 AM
Sugar millers in Maharashtra say that they are likely to miss the target of ethanol supply this season as the oil marketing companies (OMCs) did not issue tenders for buying the bio fuel well in time.
R Ravichandran | March 16, 2018 2:46 AM
Giving fresh breath to the ailing sugar industry in the state, the Tamil Nadu government has decided to switch over to the revenue sharing price fixation model from the current season.
Rajesh Ravi | March 15, 2018 2:42 AM
Pesticide Management Bill 2017 is not comprehensive enough to address the multitude of concerns about pesticides in India, according to toxicity watchdog Pesticide Action Network (PAN) India.
Nanda Kasabe | March 15, 2018 2:40 AM
India, which ranks 14 on the list of global exporters of agricultural products, fishery and forestry items, suffers around $14-billion loss annually due to the lack of effective cold chain management system.
Nanda Kasabe | March 14, 2018 2:10 AM
The Maharashtra government has taken a slew of measures to promote the export of fruits and vegetables. In the last three months, the state has shipped around 2761.41 tonne fruits and vegetables valued at Rs 2,655.34 lakh through various export facilitation centres set up by the Maharashtra State Agriculture Marketing Board (MSAMB).
FE Bureau | March 14, 2018 2:06 AM
India’s oil import is unlikely to come down in the near future and the demand for liquid fuel will increase to 10 million barrels per day by 2040 from the current 4 million bpd, according to Spencer Dale, group chief economist, BP Plc.
M Sarita Varma | March 14, 2018 2:02 AM
Kerala’s much-touted initiative to lease 50,000 acre for cashew cultivation in Andhra Pradesh for the cashew processing industry in Kerala has drawn a blank.
Two years after it imposed price controls on the widely-used Bollgard II variety of Bt cotton seeds and slashed the trait value (royalty) payable to the technology provider US-based Monsanto, the government has now reduced the seed’s maximum sale price (MSP) in the retail market and the trait value further.
Reuters | March 13, 2018 2:33 PM
Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member.
Bloomberg | March 13, 2018 12:16 PM
With its earnings outlook improving and massive pipeline assets expected to be restructured, analysts are forecasting a rally in PetroChina Co.’s Hong Kong shares, which are still trading at 2008 crisis levels.
Reuters | March 13, 2018 2:47 AM
Oil prices regained some ground on Monday afternoon but remained down as investors grappled with persisting concerns about rising U.S. output, while demand for U.S. Treasuries stayed strong despite increased supply.
FE Bureau | March 13, 2018 1:33 AM
The United States Department of Commerce has increased the anti-dumping duty on Indian shrimp to 2.34% from 0.84% in the preliminary results of the department’s administrative review for 2016–2017.
Nanda Kasabe | March 13, 2018 1:29 AM
The Maharashtra government has started online registration of farmers for the purchase of chana at the minimum support price (MSP).
Nanda Kasabe | March 13, 2018 1:26 AM
The Cotton Association of India (CAI) has lowered its estimated cotton production for the 2017-18 crop year to 362 lakh bales of 170 kg each from 367 lakh bales estimated in February.
Sushim Banerjee | March 13, 2018 1:23 AM
The year 2018 began with a great deal of expectations, be it in the global arena or specifically for India. The global economy that ended 2017 with a GDP growth of 3.6% had put India’s growth at the top notch with a 7.2% growth in Q3 of FY18.
Reuters | March 10, 2018 12:27 AM
Oil prices rose more than 2 percent on Friday, rebounding from two days of declines as Wall Street rose on strong U.S. jobs data.
Good news for commodity derivative traders: Ruling allows to set off loss on speculative transactionsFE Online | March 9, 2018 2:22 PM
Commodity derivative traders can set-off losses from trades against profit of same business, irrespective of whether the transaction is speculative or non-speculative, according to a ruling by Mumbai bench of the Income-tax Appellate Tribunal.
FE Bureau | March 9, 2018 12:26 AM
Exports of oilmeals during February 2018 have dropped 47% in comparison to February 2017 to 161,969 tonne, according to figures compiled by the Solvent Extractors’ Association of India.
Reuters | March 7, 2018 11:48 PM
Oil prices fell on Wednesday as financial markets slid amid concerns that Washington’s plans for import tariffs could spark a trade war.
FE Online | March 6, 2018 1:45 PM
With the first shipment of LNG being flagged off from Louisiana, India on Tuesday began natural gas import from the US.
PTI | March 5, 2018 4:24 PM
Iraq has overtaken Saudi Arabia by a wide margin to become India’s top crude oil supplier, meeting more than a fifth of the country’s oil needs in the current financial year.
Petrol price on the boil again, climbs back to Rs 80 per litre in just 14 days; diesel price rising tooFE Online | March 5, 2018 2:11 PM
Petrol price in Mumbai climbed back at Rs 80 a litre on Saturday in just weeks on the back of rising crude oil price. Petrol and diesel prices have been a rising streak since the beginning of this month.
FE Bureau | March 2, 2018 3:27 AM
Value-added spice exporters have been facing a crisis and are likely to shift to other countries with the Union government fixing a minimum import price (MIP) for pepper from December, 2017, the All India Spices Exporters Forum (AISEF) said here on Wednesday.
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