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: Delhi to sell subsidised wheat flour
The Delhi government will sell wheat flour at subsidised rates at 132 outlets across the city from Saturday to provide relief to citizens from the spiralling price of the commodity. Announcing the initiative, chief minister Sheila Dikshit said initially 10 kg packets of wheat flour will be made available for Rs 139 as against the market rate of Rs 180 to Rs 200. The subsidised wheat flour will be sold at 84 outlets of Kendriya Bhandar, eight outlets of National Consumer Cooperative Federation (NCCF) and 40 selected outlets at the circle offices of the food and supplies.
MMTC buys 11,500 t palm oil
MMTC Ltd has bought 11,500 tonne of RBD palmolein at $729 per tonne for delivery in December, government and trade officials said on Wednesday. The cargoes would reach Kakinada port on the east coast during December 1-10. The company also bought 5,500 tonne of RBD palmolein at $735 per tonne for delivery in November on the east coast, the sources said. MMTC had bought the vegetable oil for Andhra Pradesh for public distribution through ration shops.
Sugar extends gains
Tight supplies due to a delay in cane crushing, lower output estimate and improvement in demand helped spot sugar to rise for a fourth straight session on Wednesday, and dealers say it may rise further on supply crunch. In Kolhapur, a key market in Maharashtra, the price of the most traded S-variety sugar rose 0.32 %to 3,400 rupees ($73.6) per 100 kg. The price has risen 85 %in 2009. Wedding season demand is supporting prices. For short-term, I think market will remain firm, said Navin Vasa, a Kolhapur-based trader. Dealer said a delay in cane crushing in southern and western India has been firming up prices. Usually supply situation improves from November with the commencement of crushing operations by most mills in southern and western India.
Guar at fresh contract highs
Indian guar futures hit new contract highs on Wednesday before settling up on estimates of lower crop, firm spot market and export enquiries, analysts said. Strong fundamental factors such as drastic fall in the output and demand from guar gum manufacturers supported the rise in guar seed, said Veeresh Hiremath, senior analyst with Karvy Comtrade. Spot guar seed mirrored the futures and ended higher by 20 rupees at 2,631 per 100 kg at Jodhpur, a major trading hub in Rajasthan. Rise in...
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