The Uttar Pradesh government has initiated a project in collaboration with the world bank to conserve `bhadavri' buffalo and `jamnapari' goat. These two high yielding varieties are found only in Etwah district. The bhadavri buffalo can yield 25 to 35 litres of milk a day whereas the jamnapari goat can produce nearly 15 litres. A government spokesman said that dwindling population of the two varieties was the reason why government was taking up their conservation. "The world bank is assisting the state government in the project. A delegation of the bank has been touring different part of the district for the past three days,'' he said.

Nsea Brent crude edges sideways

North Sea crude markets drifted quietly sideways, with only the occasional Forties trade breaking up the inertia. Physical movements were overshadowed by rapid gains on futures markets which saw front month Brent break above $15 for the first time in ten months. Brent CFD swaps shuntedsideways after taking a early turn lower. Next week's CFDs were seen just above May Brent -30 cents, with April 12-16 and April 19-23 a couple of cents above that. The only physical activity seen as trade wound down ahead of the long Easter weekend was a couple of mid to late April Forties done between Dated Brent even and Dated +5 cents. One Brent date that emerged from chains on Wednesday was kept by Wall Streeter Phibro, while another was heard to be in dispute between Hetco and Vitol, traders said.

Enap names Sipetrol as advisor

The Chilean state-owned oil concern Enap has named a group made up of investment banks Credit Suisse First Boston and Dresdner Kleinwort Benson as its top preference to advise it on how to sell an $80 million stake in its international arm, Sipetrol, the mining minister Sergio Jimenez said. Enap will negotiate with the consortium. But if they do not reach an agreement, Enap will turn to its second choice, investment bank Goldman Sachs & Co. Jimenez expects Enap to makea final decision in April or May on who will be the advisor. Enap seeks to sell 20 per cent to 25 per cent of Sipetrol for $80 million, which is one-fifth of the entire unit's value of $400 million.

Malaysian palm oil steady

Malaysian palm oil prices were quietly steady on Friday amid some short covering, but trade was thin due to the closure of the overseas markets. The market had earlier opened lower due to losses in the Chicago soyoil futures on last Thursday because of technical selling following an initial bout of commodity sales. Price movements were narrow as players were cautious about the outlook of the immediate trend. By the end of the morning session, third month June futures contract was up six ringgit at 1,510 ringgit ($397.37) a tonne. Poor fundamentals were also weighing on prices.

India Oil Corp issues tender

State-owned Indian Oil Corp (IOC) has issued its fifth tender to buy May-loading crude. The tender, which closes on April 8, with offers valid until the next day,seeks Middle Eastern, North African and Norwegian crudes. The list does not include West African or Asia-Pacific grades. In its fourth tender for May, IOC awarded three cargoes of Dubai and one or two very large crude carriers (VLCCs) of Qua Iboe. In its first tender, IOC bought four Dubai cargoes and unknown volumes and grades of West African crudes. It then bought two VLCCs of Qua Iboe in its second tender. No details of the third tender were available.

Pakistan cotton prices may be steady

Cotton prices are likely to remain steady in the coming week because of rising imports that would offset lower crop output, dealers said. "The supply of imported cotton is likely to increase this month as shipments for orders booked in April will arrive," dealer Nasim Usman said. Textile industry sources said cotton imports were likely to reach 6,00,000 to 7,00,000 bales in the fiscal year that ends June. Pakistan's final output will be 8.7 million bales in fiscal 1998/99, an agriculture ministry official said.Cotton output in 1997/98 was 9.2 million bales.

--Reuters and agencies