Globoil India '99, the third annual international conference and exhibition on vegetable oils, feed and feed ingredients, oilseeds, related industries and services would be held in Mumbai on September 19 and 20, 1999. The two-day event is being organised by Telfa's Conferences and Events Pvt Ltd., in association with the Solvent Extractor's Association of India (SEA) and other representative bodies of the industry. The conference would discuss winning strategies for the oil sector in the next millennium and would be attended by experts from all over the world.

Albert to head futures revival team

In a bid to revive commodity futures markets and bring transparency and financial soundness, the Forward Market Commission(FMC) has set up a fact finding mission under the leadership of internationally renowned commodity futures expert William Albert.

Small onions face glut in Tamil Nadu

Onions, the spiralling prices of which resulted in the fall ofthe Delhi BJP government last year is in the news again, thanks to the glut of small onions `podisu' in Tamil Nadu. The bumper crop of small onions - Aggregatum Allium cepa variety (known locally as `podisu-sambar onion) especially in Dindigul has forced the traders to do panic selling at rates ranging between Rs 1.50 and Rs 3.00 per kg.

Payment imbroglio in forward deals

The payment imbroglio in the forward deals of imported edible oils is yet to be solved. The leading importers held a crucial meeting in the last fortnight and slashed the clearing rate by Rs 60 per 10 kg to resolve the crisis, but buyers were still not paying their dues to settle the issue. The trade is passing through a worst ever crisis. At least half a dozen importers are on the verge of defaults.

Cashew prices up

A fall in global production has considerable hit cashew prices which has been witnessing regular spurts off late. A few leading producers like Vietnam and Brazil have now began scouting for cashew in theinternational markets and this has given a further boost to the already expensive cashew prices, traders said.

Traders resort to ginger imports

Ginger wholesalers in Chennai have for the first time began to import this commodity from Singapore. These imports would be utilised to make up the shortfall in the local market mainly caused by heavy fall in ginger production of the crop planted in February-March 1998, in Kerala. Chennai consumes 12 to 18 tonne of ginger per day. Ginger from Singapore is of superior quality when compared with the Indian crop. It is white in colour, two to three times bigger in size and not muddy, said Koyembedu Perishable Foods Associations Action Committee president G Shanmuha Sundaram.

De Beers upsets diamond-makers

Diamond manufacturers all over the world seem to be greatly worried over the possible increase in De Beer's activity in the area of polished diamonds which was so far regarded by them as their almost exclusive preserve. Such apprehensions had theirreverberations in the recent Moscow conference of the World Federation of Diamond Bourses and International Diamond Manufacturers' Association.

India telecoms to boost copper use

The copper consumption in the next few years will rise at a rate higher than the global growth due to robust demand from the telecommunications sector, Indo Gulf Corporation Ltd said. "Copper consumption in India is likely to grow at a higher rate than the global consumption growth rate in future," the copper producer said in its 1998/99 (April-March) annual report released on Friday.

Global steel scrap price fall

Steel scrap prices continued to fall in world markets during the second week of July by $4 per metric tonne at $86 from the previous week's $90 per metric tonne (FOB) ex-Europe and is further likely to reduce in the following weeks.

Oil firms to make eco-friendly fuel

Consequent to the recent Supreme Court verdict banning registration of private non-commercial vehicles failing to complywith Euro II emission norms in the National Capital Region of Delhi (NCRD) from April 1, next year, several oil companies in the country has woken up to the need for producing cost-effective standardised quality fuel which can abate pollution.

Export of plastic products fall

Exports of plastic and plastic products in the country have fallen short by 27.50 per cent of the targeted Rs 2,952 crore for 1998-99 at Rs 2141.21 crore. It has also declined by 9.5 per cent on an year-on-year basis. A major reason for the steep fall in exports is the anti-dumping charges initiated by developed countries against Indian plastics, trade circles said.

Polyester yarn export norm violation

Violation of rules continues in exports of polyester texturised yarn from the country and the union government is at the receiving end, losing revenues at the rate of Rs 400-600 crore a year. This is apart from losses in foreign exchange, said sources close to the industry.

Leather body's plea

IndianFinished Leather Manufacturers and Exporters Association (IFLMEA), has sought the continuation of the existing leather export policy in response to a plea made by tanners for a free leather export regime. IFLMEA members want the present policy of government, which is as per the recommendations of the Seetharamikah Committee, to continue in order to boost exports.