RBD palm oil unable to hold ground
Despite a poor inventory and sharp rebound in the Malaysian palm oil futures, RBD palm oil is unable to hold ground. Thanks to a sharp upturn in the global prices, a couple of imports managed to lift the prices to Rs 221-225 per 10 kg at Mumbai, however rally lost the gains as distress selling emerged at higher levels.

Palmolein duty creates confusion
The current uncertainty regarding the Government's decision about a further duty increase on the import of RBD (refined, bleached and deodorised) palmolein oil is creating a lot of confusion in the edible oil market. The Government had already revised the basic import duty for palmolein twice in the recent past - 15 per cent to 25 per cent on Dec 30, 1999 and 25 per cent to 35 per cent in June 12, 2000.

Cardamom prices move southward
The prices of Cardamom-`the queen of all spices', which have been declining over the past few weeks is expected to fall further owing to heavy production this year in the country. In India, for the first time this year the production of `elettaria cardomomum maton -cardamom' has reached the level of 10,000 tonnes.

Rubber inter-cropping to aid yield
India is the fourth largest natural rubber producer in the world amounting to 9 per cent of the world output. But in recent past it witnessed decline in its yield growth, owing to various reasons. One of it is lower level of adoption of yield improvement measures. Plantations of tea, coffee, pepper and cardamom are classified under `agricultural commodities', at the same time natural rubber has been left out, though the income from the commodity is taxed under Agricultural Income Tax Acts by the state Governments.

Sugar industry awaits a bright future
Sweet promises seem to be in store for the domestic sugar industry as it prepares to step into the new sugar year next month. After struggling with the problem of excessive stocks for the last four years, the industry is now planning for a better tomorrow by working towards re-establishing itself in the export market. Supply of sugar in the world market from Brazil, Australia, Thailand and the European Union (EU), the four major international players, is expected to go down substantially in the coming sugar year.

Falling coffee prices cause concern
The declining coffee prices across the globe are shattering the hopes of the coffee growers. The recent fall in the prices has brought about a panic situation among the major producing countries and coffee growers. The surplus scenario in the market has stalled the coffee prices from revival. The exports of the Indian coffee are facing severe threat.

Industry glad on Rio's counterbid
The diamond industry and trade here have, by and large, welcome the counterbid made by the global mining giant Rio Tinto against the De Beers' bid to acquire about 40 per cent stake in the world's largest diamond mine in Argyle, through an offer to take over Ashton Mining Ltd which has that much stake in that mine.

NM Rothschilds predictsprice jump
Low supplies of fresh gold by 2001 is likely to contribute to a substantial jump of the global gold prices to around $305 per troy oz from the current sluggish levels of around $272-278 per troy oz. According to NM Rothschilds & Sons, one of the worlds oldest gold suppliers and financing entity, the current equations in the global market are likely to change substantiall by next year.

Jewellery show to boost export
The 17th India International Jewellery show will be held in Mumbai from Sept 7 to 10. The show is organised by the Gem and Jewellery Export Promotion Council (GJEPC). The event has attracted 150 participants with more than 15,000 local traders, retailers and manufacturers and international exhibitors from Italy, Australia, Hong Kong and Thailand are expected to attend the show.Falling rupee fails to heal steel sector
Even as the domestic steel manufacturers look forward to the steel ministry to help them against the slue of anti-dumping cases slapped by the authorities in the USA, and European Union, they are currently reeling under rising stockpile and face prospects of a prices war.

Petro-futures limited to forex earnings
The Union finance ministry's notification on "hedging facilities" for crude oil and petroleum products provoked more questions than answers last week. Petroleum minister Ram Naik sent for a copy of the notification and ministry brass, when probed, said they were waiting for the Central Bank to issue guidelines.

Caustic soda industry to bloom
The caustic soda industry is virtually out of the wood and is now hoping for happier days ahead, according to sources close to it. They point out in this context that heavy imports, which were earlier harming the interests of the industry, have almost stopped. The overseas suppliers were earlier dumping their material into the Indian market by relentlessly bringing down their prices.

PSF registers negative growth
The polyester staple fibre (PSF) industry in the country has for the first time in recent years registered a negative growth of 2.73 per cent in the first quarter of 2000-01 giving rise to doubts whether it will be able to match this year its last year's total production of 5,51,485 tonnes. It may be interesting to note that though the industry has been growing from year to year, its growth rate has been coming down, but perhaps no one expected it to turn negative. It registered the highest annual growth rate of 35.07 per cent in 1997-98 when its output rose to 4,38,616 tonnes from 324,729 tonnes.

Mahacot's cotton exports effort fails
Hopes of exporting Indian cotton appeared short lived as Maharashtra Cotton Growers' Federation (Mahacot) efforts failed last week for the second time this year as bidders' offered lower prices. The advantage of a weaker rupee had recently offered some hopes of Indian cotton becoming competetive in the international markets where the prices had jumped to lifetime highs of around 67.31 cents per pound recorded last Tuesday. But on the New York Cotton Exchange, the most active December cotton futures prices are seen sliding.