Commodities News

Gold slips below Rs 32,000-mark on global cues, muted demand
PTI | June 11, 2018 4:21 PM
Amid a weak trend overseas and fall in demand from local jewellers, an appreciating rupee against the US dollar made the imports cheaper and weighed on gold prices.
Coal India’s output increased by 105 MT in 4 years to 567 MT in FY18, says Piyush Goyal
PTI | June 11, 2018 3:24 PM
State-owned Coal India’s output increased by 105 million tonnes (MT) in the last four years to reach 567 MT in 2017-18, Union Minister Piyush Goyal said today.
ONGC’s funds drop 90% in one year; this is why cash reserves shrunk
Bloomberg | June 11, 2018 8:59 AM
ONGC’s reserves dropped to about 10 billion rupees ($148 million) as on March 31 from nearly 130 billion rupees a year earlier.
Crude oil prices mixed as rising US, Russia supplies weigh; JPMorgan expects this from non-OPEC
Reuters | June 11, 2018 8:33 AM
Oil prices were mixed on Monday, caught between the downward pull of rising Russian production and U.S. oil drilling activity at its highest since 2015, and upward pressure from strong demand, especially in
Petrol, diesel prices today: Fuel rates cut for 13th straight day; check rates in Delhi, Mumbai, other cities
FE Online | June 11, 2018 8:30 AM
Petrol diesel prices today: Petrol and Diesel prices in India have been cut for 13th consecutive days since rates soared on May 29. Petrol price in Delhi today stands at Rs 76.58 per litre, down from Rs 76.78 per litre on June 10. Similarly, petrol price in Mumbai is Rs 84.41 per litre
Petrol, diesel prices see massive cuts in 12 days: Delhi, Mumbai, Chennai latest rates compared
FE Online | June 10, 2018 2:14 PM
Petrol, diesel prices see massive cuts in 12 days: Domestic fuel prices were slashed for the 12th consecutive day on Sunday. The petrol prices fell around 23- 25 paise per litre in metro cities such as Delhi, Kolkata, Mumbai and Chennai.
Gold price may hit Rs 34,000 level by Diwali on weak rupee
PTI | June 10, 2018 1:19 PM
Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten grams until Diwali in the domestic market, and internationally the yellow metal might be in USD 1,260-1,400 an ounce level, Commtrendz Risk Management director Gnanasekar Thiagarajan told PTI here.
Delhi government dismisses allegations by Opposition, says no increase in VAT on fuels since 2016
IANS | June 9, 2018 2:03 PM
In 2015, the VAT rate on petrol was increased from 20 per cent to 25 per cent and on diesel from 12.5 per cent to 16.6 per cent.
Massive cut in petrol prices! Slashed for 11th day; now down over Re 1 in all 4 metros: Check city-wise rates
FE Online | June 9, 2018 7:17 AM
Petrol, diesel price today: According to the latest price chart, one litre of petrol in Delhi costs Rs 77.02 on Saturday. Revised rates are applicable from 6:00 a.m. on June 9, 2018.
Gold edges up ahead of G7, dollar recovery caps gains
Reuters | June 9, 2018 12:29 AM
Gold firmed on Friday as a rise in risk aversion ahead of G7 talks this weekend lent support, but the yellow metal remained hemmed within its narrowest weekly range in over a decade as a recovery by the dollar capped gains.
Will airfares, natural gas price come down? Here’s what GST Council is likely to discuss in next meeting
PTI | June 8, 2018 4:00 PM
The GST Council could consider bringing natural gas within the purview of Goods and Services Tax in its next meeting, an official said today.
Now gold deposits to become more attractive! RBI amends Gold Monetisation Scheme
PTI | June 8, 2018 8:58 AM
The RBI has made changes in the Gold Monetisation Scheme (GMS), which was launched by the government in 2015 with the objective of mobilising the gold held by households and institutions in the country.
Crude Oil prices today: Brent crude resurges to $77; Venezuelan supply trouble?
Reuters | June 8, 2018 8:56 AM
Oil prices rose on Friday, driven up as Venezuela struggles to meet its supply obligations and by ongoing voluntary output cuts led by producer cartel OPEC. Brent crude futures, the international benchmark for oil prices, were at $77.45 per barrel at 0051 GMT, up 13 cents, or 0.2 percent, from their last close.
Petrol, diesel prices today: Biggest cut in last 10 days, check city-wise rates
FE Online | June 8, 2018 7:36 AM
Petrol, diesel price today news: As per new rate chart, petrol price in Delhi now stands at Rs 77.63. One litre of diesel in Mumbai will cost you Rs 73.17. Revised rates are applicable from 6:00 a.m. on June 8, 2018.
Surge in paper imports worries Indian companies
FE Bureau | June 8, 2018 3:24 AM
Sudden surge in imports of Chinese and South Korean paper into the country has the Indian Paper Manufacturers Association (Ipma) worried.
Gujarat groundnut stocks bought at MSP fail to find buyers
FE Bureau | June 8, 2018 3:21 AM
The National Agricultural Cooperative Marketing Federation of India (Nafed) is finding it difficult to sell groundnut stocks, procured from farmers at minimum support prices on behalf of the Gujarat government, to oil millers and traders due to quality and price issues.
Cashew kernel exports set to fall on declining interest from processors
Rajesh Ravi | June 8, 2018 3:17 AM
Cashew kernel exports from the country are likely to go down in the coming fiscal with nearly 700 processors in Kerala shutting shop due to nonviable operations, a top official of the Cashew Export Promotion Council of India (CEPCI) said on Thursday.
Oilmeal exports drop 33% in May on low demand
FE Bureau | June 8, 2018 3:14 AM
Oilmeals export declined by 33% to 97,036 tonne during May 2018 on lower global demand, according to industry data.
India’s exports of grape plunge 40% this year on adverse climate
Nanda Kasabe | June 8, 2018 3:11 AM
The country’s grape exports have seen a 40% drop this year. This season grape exports touched 1,80,000 tonne as compared to 2,31,000 tonne the previous year, Grapes Exporters’ Association of India (GEAI) has said.
Global economy well-positioned to absorb rise in oil burden: Morgan Stanley
PTI | June 7, 2018 3:51 PM
According to the global financial services major, the current rise in oil prices is taking place against a backdrop, where global growth has been strong and above trend for the past five quarters.
Petrol price today: Fuel rates slashed for 9th consecutive day; check latest prices here
FE Online | June 7, 2018 9:29 AM
Petrol price today: Petrol prices were cut for the ninth consecutive day across Delhi, Kolkata, Mumbai and Chennai on Thursday.
Oil prices rise on Venezuelan supply troubles, but US output surges; Brent crude hovers around $75 a barrel
Reuters | June 7, 2018 8:50 AM
Oil prices rose on Thursday to shake off some of the previous session’s losses, supported by plunging exports by OPEC-member Venezuela. Brent crude futures were up 33 cents, or 0.4 percent, to $75.69 a barrel at 0101 GMT.
Maharashtra to provide financial aid to tur farmers
FE Bureau | June 7, 2018 2:34 AM
By May end, Maharashtra had recorded procurement of around 1 lakh tonne of chana and around 3.24 lakh tonne of tur.
Oil Minister Dharmendra Pradhan says petrol, diesel will not be allowed to go out of reach of common man
PTI | June 6, 2018 9:18 PM
Oil Minister Dharmendra Pradhan today vowed to not allow petrol and diesel prices go out of reach of the common man, saying the government is working on a holistic solution to price volatility without going back on reforms.
PM Modi’s sugar package not sweet enough? MSP at Rs 29 a kg inadequate, say industry bodies
PTI | June 6, 2018 7:17 PM
The minimum selling price of sugar fixed by the centre at Rs 29 per kg is inadequate and does not cover production cost, making it difficult for millers to clear huge cane arrears, say sugar industry bodies ISMA and NFCSF.
Sugar bailout: Cabinet approves Rs 8,000 crore package, MSP at Rs 29 per kg
FE Online | June 6, 2018 3:44 PM
The Union Cabinet on Wednesday approved the bailout package of Rs 8,000 crore to sugar industry to ensure the cash-starved mills clear cane dues of Rs 22,000 crore.
Petrol price today: Fuel rates slashed for 8th consecutive day; check latest prices here
FE Online | June 6, 2018 9:30 AM
Petrol price today: Petrol prices were cut for the eighth consecutive day across Delhi, Kolkata, Mumbai and Chennai on Wednesday.

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