Commodities may feel pinch as China slows down

An unscripted slowdown in China's economy may take an exaggerated toll on commodity markets as demand from its construction sector and export-oriented manufacturers, which drove prices sky high, falls back to earth.

Gold prices could touch Rs 15,000 by Diwali, say analysts

India's gold is in sight of Rs 15,000 per 10 grams by the end of October after Friday’s life-high, when two festivals most auspicious for buying gold are lined up, Diwali and Dhanteras, analysts and a dealer said.

Copper slumps more than 8% to 20-mnth low

Indian copper futures dipped close to 9% and traded at a 20-month low on Friday, while lead sank more than 7% as investors went fleeing to safer assets amid a global financial meltdown.

'World food import to rise 26% in 2008'

Global food import expenditure, in value terms, are forecast to reach $1,035 billion in 2008, 26% higher than the previous peak in 2007, according to the Food and Agriculture Organisation of the United Nations.

Pulse prices may rise more on festival demand

Pulses prices are likely to rise by about 5% because of higher demand during festival season amid estimates of lower production in the kharif season this year.

FCI expects to lift 85 lakh MT paddy from Punjab

Food Corporation of India expects to lift 85 lakh metric tonne of rice from the state during this kharif marketing season, a top official of the central agency said on Wednesday.

DGCX ends largest physical settlement of $25 million

Dubai Gold and Commodities Exchange Wednesday announced the successful completion of its largest-ever physical settlement of gold and steel rebar futures contracts, valued at $25.20 million, by the Dubai Commodities Clearing Corporation.

‘Crude oil may fall below $80 on weak demand’

Oil prices may drop to below $80 a barrel by the end of the year because of weakening demand and could fall even further next year, the Center for Global Energy Studies said.

Gold touches new high

Standard gold prices in Mumbai on Wednesday rallied to an all-time high of Rs 13,745 per ten gram on fresh buying prompted by firm global markets as well as festival demand, a local trader said.

Mild steel futures may remain weak on sluggish demand

Mild steel futures prices on the National Commodity & Derivative Exchange may continue to rule weak over the next few days as raw material and international steel prices have been sliding sharply.

Oilmeals export up 72% in H1, 2008

The overall export of oilmeal during the first half of the current financial year has increased to 25.10 lakh tonne from 14.56 lakh tonne during same period last year, up by 72 % due to an increase in the export of soybean meal, rapeseed meal and groundnut meal, according to data compiled by the SEA.

‘Food ingredients to be brought under strict laws’

“Food ingredients are required to be dealt with by strict laws,” said Joseph Lewis, head, research and development, Marico Ltd.

Global demand pushes up basmati exports; ban dents non-basmati

India’s basmati rice exports are estimated to have jumped by 13% despite a cess of Rs 8,000 a tonne, while shipment of non-basmati varieties fell by 31% in the crop year ending September 2008 due to the ban. According to official sources, basmati rice exports during the 2007-08 season is estimated at 1.19 MT, compared with 1.05 MT in the previous season.

Natural rubber output surges 27% in FY09

Natural rubber production has gone up by 27% so far in this fiscal, FY2008-09, on the back of conducive climate and higher prices while consumption, too, gained pace, with rising demand from tyre manufacturers and rose by 5%.

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