Commodities

Saudi oil output cut in half after drones strike Aramco site

Iran-backed Houthi rebels in Yemen, who’ve launched several drone attacks on Saudi targets in the past, claimed responsibility for the assault on the kingdom’s Abqaiq plant.
Saudi oil output cut, Aramco site, drones strike at Aramco site, Saudi Arabia oil production, Yemen, Michael Pompeo, Saudi Aramco News

Oil falls as spectre of US-China trade war haunts market

Gloom over the dispute between Washington and Beijing left investors shrugging off a commitment from Organization of the Petroleum Exporting Countries (OPEC) producers to trim output, with more signs

oil price, US china trade deal, US crude, OPEC, Beijing, global economy, US recession, US production News

Gold slips as thaw in Sino-US trade woes lift equities

Asian stocks rose on hopes for a thaw in U.S.-China trade frictions and expectations that the ECB will kick off another wave of monetary easing by global central banks.

Gold prices, US China trade tensions, Donald Trump, Chinese goods, Spot gold, US gold futures, Brexit News

Oil rises as US, China swap concessions in trade war, inventories fall

The rise came after China moved to exempt some U.S. anti-cancer drugs and other goods from tariffs, while President Donald Trump announced a delay to scheduled tariff hikes on billions of dollars' wor

Oil prices, US crude, Brent crude futures, Chinese goods, Asia Pacific market, Washington, Beijing News

Cotton industry prepares for MSP purchase in new season, feels market intervention may not be needed

Amid speculation that private players may stay away from cotton purchase, the Cotton Corporation of India (CCI) has begun preparing for the season ahead.

According to a tweet by Cotton Guru — a cotton advisory service — the crop is at fruiting stage and weather could be the next game changer News

Uttar Pradesh raises paddy MSP by Rs 65 a quintal

The state cabinet approved the procurement rate of Rs 1,815 per quintal for the common variety and Rs 1,835 per quintal for grade A variety.

Paddy procurement will start in some districts from October 1 and will run till January 31, 2020 News

Gold prices inch up amid cautious mood; investors eye European Central Bank meet

Spot gold was up 0.4% at $1,491.60 per ounce, as of 0120 GMT.

Gold prices, Germany, Europe, US gold futures, US China trade war, Angela Merkel, sovereign bond markets News

Oil prices rise after data shows big drop in US inventories

Prices had ended lower on Tuesday, squeezed by speculation of a return of sanctions-hit Iranian crude exports to the market following United States President Donald Trump's move to fire national secur

Oil prices, crude stockpiles, US, Donald Trump, refinery crude, Iran nuclear deal, Iranian crude exports News

Cane pricing: ISMA calls for adoption of global practices

The Indian Sugar Mills Association (ISMA) has called for adoption of international laws and practices on cane pricing.

Instead of making more sugar, there is enormous scope to divert surplus cane to ethanol, Abhinash Verma, director general, ISMA said News

Punjab slashes VAT on natural gas to 3.3 per cent

However, the VAT on compressed natural gas, used mainly as auto fuel, will remain at 14.3 per cent, an official statement said here.

The chief minister said the move would help cut down on industrial pollution in the state. (File photo) News

Maharashtra cooperative millers seek to delay crushing

Cooperative sugar millers in Maharashtra have urged state sugar commissioner Shekhar Gaikwad to postpone the crushing season of 2019-20 to December 1.

Last season, mills had crushed 952 lakh tonne of cane and this season according to primary estimates given out by the commissioner, 570 lakh tonne of cane was to be crushed News

Gold prices fall Rs 372 on weak demand, strong rupee

The spot rupee gained by 21 paise against dollar during the day," Tapan Patel, senior analyst (commodities), HDFC Securities said.

Gold prices, HDFC Securities, PMI data, US-China trade talks, US dollar, global gold demand News

Ethanol price reset to add sugar mills revenue, reduce surplus

This continuance of government support through remunerative prices for ethanol is likely to support the profitability of the sugar industry.

Cabinet Committee on Economic Affairs, CCEA, sugarcane extracted ethanol, petrol, ethanol blended fuel, india oil import bill, sugar industry india, sugarcane farmers india, Indian Sugar Mills Association, GST ethanol, GST petrol, thanol blended petrol EBP, News

Maharashtra: Sugar prices drop again on lower demand

The Centre’s recent export subsidy of `1,048 per tonne is expected to help sugar industry across the country, including Maharashtra.

sugar, sugarcane plantation, maharshtra sugarcane farmers, sugar mill Maharashtra, sugar industry Maharashtra News

Gold eases as equities gain on Brexit, Hong Kong progress

India's gold imports plunged 73% in August from a year ago to the lowest level in three years as a rally in local prices to a record high and a hike in import duty discouraged retail buying, a governm

U.S. gold futures were down 0.2% at $1,557.8 an ounce. News

Cardamon prices likely to decline on fresh arrivals

Reports of lower production due to climate vagaries are likely to support the market and provide an upside in the medium to long term

Cardamom prices, Cardamom fresh arrivals, Cardamom production, Cardamom climate vagaries, Cardamom market, India second largest producer of cardamom, cardamom in india, cardamom Guatemala, PC Punnose of Idukki based Cardamom Processing and Marketing Company, CPMC cardamom News

India’s August gold imports hit 3-year low as prices jump to record

India imported 30 tonnes of gold in August, down from 111.47 tonnes a year ago, the source said.

In value terms, the country's imports in the month fell 62% to $1.37 billion (File photo) News

Gold prices steady as economic growth woes dent risk sentiment

Spot gold was up 0.1% at $1,548.31 per ounce at 0121 GMT, having touched a one-week high of $1,549.80 earlier in the session.

US gold futures were steady at $1,555.6 an ounce. News

Negative yield on bonds globally pushing up gold prices to new highs

If growth worries persist due to trade war, gold prices would go even higher driven by large ETF gold holdings

Gold prices, US china trade tension, global trade, Jerome Powell, Spot gold, US gold futures, US Federal Reserve News

Gold slips Rs 40 to Rs 39,600 on muted demand

Gold prices on Monday inched Rs 40 lower to Rs 39,600 per 10 gram at the bullion market here owing to lower demand from local jewellers, according to the All India Sarafa Association.

Commodities News

CNG, LPG get costlier: Double whammy for your household budget; here’s how much you will pay now

Consumers may have to bear the double whammy of increased LPG and CNG prices as both were increased on Sunday.

non-subsidised LPG price raised by Rs 15.5 per cylinder News

Gold shines amid US, China trade war, growing fears of global economic slowdown

Escalation in the trade war between the world's biggest economies and heightened fears over a global downturn contributed to a rise of more than $100 for gold in August.

Commodities News

Oil falls as US, China add more tariffs; worries rise over hit to global growth, demand

Oil prices were lower on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude.

India, Russia, OPEC, oil price, CNG, oil rates, LNG, market news, economy news,oil refining, petrochemicals News

CNG price in Delhi hiked by 50 paise, third since April

The new consumer price will be Rs 47.10 per kg in Delhi and Rs 53.50 per kg in Noida, Greater Noida and Ghaziabad.

The price of CNG sold to automobiles in Gurugram and Rewari would be Rs 58.95 per kg and in Karnal it would be Rs 55.95, IGL said. (File photo) News
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