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| July 31, 2007 | | Rising demand from India, palm oil futures rise
Traders in Mumbai said palm oil futures in Malaysia, the benchmark for the commodity, has been icreasing thanks to rising demand from India, the world's second biggest buyer of vegetable oils.
Rice import: Russia wants to test Indian labs
Nearly two weeks after lifting the ban on rice imports from India, Russia has said that it wants to inspect Indian laboratories that test and certify the grain for safety and quality.
Jute Futures on MCX platform
With the new season beginning in August-September, the MCX jute Futures contract is likely to help the industry lock in a raw jute price for hedging.
Increase farm growth: Ficci survey
The survey has called the government to immediately address the issue so that the country's worsening inflation problems could be solved.
Global rush to mine Gold in India
Southern India's Deccan region has been surveyed as having one of the richest deposits of the yellow metal.
Derivatives Exchange for IP rights
As a result, necessary IP rights are not effectively transferred, the "best price" for IP is rarely achieved, and the process itself inhibits the market adoption of new technology based products and hence their companies' economic growth.
Big leap in spices exports
In value terms, the exports increased by 36 per cent to touch Rs 967.30 crore (Rs 9.67 billion) during the quarter.
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| July 27, 2007 | | Baring India to invest $35 million in JRG
JRG Securities Limited is a brokerage in India, and Baring will invest through a preferential issue and warrants for a minimum stake of 44.8% in the company.
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| July 24, 2007 | | Online grading of diamonds in India
The Surat-based Indian Diamond Institute has taken the initiative to start the online service for verifying the diamond grading documents.
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| July 23, 2007 | | The swing factor in commodity markets
Every one knows that International politics plays a key role in deciding the 'power centers' among nations and a few know that there exists a relationship between international politics and commodity markets that had existed from time immemorial.
'Physical delivery essential in futures contracts'
India's apex Forward Markets Commission says physical delivery is essential for the transparent functioning of the commodity exchanges.
Pak offers cotton at cheaper rates
Pakistani cotton scene is turning out to be interesting with domestic producers offering the commodity at rates lower than the international prices.
Olive oil body to focus on India
India, a nation of over one billion people, consumes just 2,500 tonnes of olive oil per year. This dismal fact has now woken up International Olive Council.
Global fuel cos face hurdles in India
Multinational companies like Shell, Caltex, Elf and SHV that have been attracted by the huge possibility to market Liquified Petroleum Gas in India are these days waiting for their chance.
Call to end import duty on cotton
The Madurai Spinners Association has sought removal of import duty on cotton and cotton waste, to prevent mills going into the red.
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| July 21, 2007 | | India set for record foodgrain output
The estimate said the total foodgrains production in 2006-07 will at 216.13 million tonnes. It comprises 92.76 million tonnes of rice, 74.89 million tones of wheat, 34.25 million tonnes of coarse cereals and 14.23 million tonnes of pulses.
Basel II: Banking on commodity derivatives
An early action to allow domestic banks to participate in the commodity markets would not only help in improving their competency but would also help in develop their trading and product development skills in commodity derivatives.
How gold is mined in India
What is the process of exploration for gold deposits in India, and how it is done? Read on...
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| July 19, 2007 | | Copper: Facts you need to know
Copper is one of the most widely used metals across the globe. But you need to know some interesting facts on copper.
Mid-day meal scheme to boost poultry in TN
In a recent decision the Tamil Nadu government increased the number of eggs for the meal scheme to three per week.
Mosquitoes take the sting out of rubber market
Kerala, the land of latex, is reeling under a threat of avian kind. The viral fever attack, spread by mosquitoes, in the state has left the rubber industry in a very bad shape.
Nabard to set up micro finance institution
The plan has received positive feelers from Canara Bank, which, along with others, will together hold 49 per cent. The MFI will be set up with a capital of Rs 100 crore (Rs 1 billion).
Pak offers cotton at cheaper rates
According to market analysts, Pakistani cotton is available to the international and domestic buyers with a difference of 10 cents per pound to the global price.
Russian ban on Indian rice to go
Indian exporters are awaiting a formal announcement next week.
How mining achieved success in Gujarat
At a time when most of the public sector undertakings across India are reeling under various problems, Gujarat Mineral Development Corporation has proved to be a jewel in the crown of Gujarat.
Why Uranium is a hot commodity
Uranium is one of the best-performing commodities these days as the world seeks alternatives to oil as a source of energy.
APMCs ready to take on private sector in Gujarat
APMCs across Gujarat are of the view that entry of private companies will impact their functioning.
Indian sugar output to touch new high
India's sugar production is all set to touch a record high next year.
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| July 18, 2007 | | Mosquito menace lifts rubber price
Casting aside rubber growers' fear of a price fall, spot natural rubber rates began its northward journey this week.
Egg prices set to crash
Your morning omelet may cost you less in the coming days with the prices of eggs showing a downward trend. Prices of eggs and chicken are bound to fall as the poultry industry expects an increase in supply.
Monsoon Meter: How much rain did India get
Southwest Monsoon was vigorous/active over East Rajasthan and the Gujarat region during many days and over West Rajasthan, Konkan and Goa and Madhya Maharashtra on a few days of the week ending July 11.
Gold loses charm as stock markets surge
Surging capital markets in India are turning investors away from the bullion market to attractive stocks. This has resulted in the fall of gold prices on lack of buying supporters.
APMCs face competition from pvt sector in Gujarat
Implementation of the model Agriculture Act in Gujarat is like setting the cat among pigeons as far as Agriculture Produce Marking Committees in the state are concerned.
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| July 17, 2007 | | Thailand eyes Indian jewellery market
Thailand, known for its coloured gemstones, is keen to make its presence felt in India, where the market is responding positively to gemstone-studded jewellery.
'Spot exchanges will benefit Indian farmers'
Spot exchanges to trade in commodities are set to be launched across the country in a few months' time. The man in the limelight most of the time these days is Anjani Sinha, managing director and chief executive officer of National Spot Exchange.
Indian ginger to reign supreme
Ginger is the hot and happening commodity now. In fact, the National Multi-Commodity Exchange is mulling expansion of its futures basket and launch of trade in dried ginger and cashew.
Punjab cries foul over wheat import
In a move to express the state's displeasure, Punjab Chief Minister Parkash Singh Badal has sought a meeting with Prime Minister Manmohan Singh over the issue of importing wheat at a higher price of $317-$330 per tonne.
India's edible oil imports rise
India's edible oil imports rose by 41 per cent to touch 5.47 lakh tonnes in June against 3.88 lakh tonnes a year-ago, according to figures released by the Solvent Extractors' Association of India.
Identity crisis for Darjeeling Tea
The exotic brew from West Bengal is facing an onslaught from 'original' duplicates.
Commodity exchanges do roaring biz
Futures trading is here to stay. That is the message emerging from the commodity exchanges in India. Futures trading in commodity exchanges reached a whopping Rs 8,97,816 crore (Rs 8,978.16 billion) till June-end in the current financial year.
Call to ban cotton export
Faced with a huge rise in cotton prices, the South India Small Spinners Association has urged the Centre to ban export of raw cotton.
Big leap in global coffee exports: ICO
Export of coffee across the globe has witnessed a big leap in the crop year that began in October.
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| July 13, 2007 | | 10 problems that gold mining faces
More than 85 percent of gold mined today will end up as jewelry tomorrow. Gold mining is not an essential industry like the harvesting of food or even paper production. It is certainly not sustainable, nor is it just.
Silver futures shining in India
Investors and traders in India have been making money on silver futures in the last two months.
Spot Trade: Private players eye Gujarat pie
Amendments to the Agriculture Produce Market Committees Act have opened floodgates for private companies and online commodity exchange in Gujarat.
Indian farmer: A competent manager
The neo classical economists will have great pleasure in knowing that the Indian farmer has now acted in accordance with the basic assumptions of their theory.
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| July 12, 2007 | | US questions India's wheat import quality norms
The Indian government had asked the US Administration to ensure that American millers meet strict quality norms to the wheat to be imported to India.
A green India with Neem trees
Attend the World Neem Conference that will teach you the fine art of caring for Neem trees.
Organic tea project to begin soon
India's organic farming efforts will see a sea change in the tea sector following the launch of the project to develop organic black tea with funding from the Amsterdam-based Common Fund for Commodities, a UN body.
Bullion gains as dollar falls to record low in India
Gold sentiment is turning positive as investors are more concerned about sluggish US growth, spreading impact of sub-prime housing woes, which could weigh on dollar.
India to ring in electronic spot exchanges
India's good old 'mandis' are all set to make way for swanky spot exchanges soon. In two months' time, winds of change will sweep across the country's agricultural sector with the launch of electronic spot exchanges.
Pepper exporters to meet FMC
According to said M L Parekh, Director of All India Spices Exporters Forum, exporters will also demand lowering of the margin requirements of pepper during the meeting.
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| July 11, 2007 | | Spices imports go up
Spices import showed an increase of about 5,000 tonnes in volume and about Rs 65 crore in value from the previous financial year mainly because of the competitive prices for most of the items in the world market.
Indian tea set to swarm Pak market
Tea growers and traders in India can heave a sigh of relief now with the country's tea export to Pakistan showing tremendous improvement.
India asks Gold miners to explore new fields
The request came from India's Minister of State for Mines T Subbarami Reddy. He said that the government is concerned over the huge bills for the gold that is imported to India.
Farmers reap big harvest from Bt Cotton
Thanks to Bt, India's cotton fields are not suicide fields any more. The genetically modified seed has come as a godsend for farmers in several cotton-growing states with many of them reaping in rich dividends from Bt Cotton cultivation.
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| July 10, 2007 | | What is historic volatility?
Although traders cannot predict the future, they must make intelligent guesses as to what the future holds.
India to promote tuna export from Andamans
Go for tuna. That is the message Union Minister of State for Commerce Jairam Ramesh has to give to marine exporters.
Gujarat loses groundnut turf to South
Cotton's gain is groundnut's loss in Gujarat. While farmers are rushing to increase the acreage for Bt Cotton in Gujarat, groundnut cultivation is taking a beating in the state.
Jargonomics: Commodity futures simplified
Futures trading in commodity markets is a booming business these days in India. But not many people know the technical terms used in commodity futures trade. Check out the technical jargons of commodity futures explained in simple language.
Is sugar an essential commodity?
Is sugar an essential commodity like your daily staples of wheat, rice and pulses? Well, the sweet commodity should not be included in the list of essential commodities by the government, says a new study by consulting firm KPMG.
'Start special schemes for wheat, rice'
Prime Minister Dr Manmohan Singh has drawn the attention of chief ministers towards the Centre's pet project of food security special programmes of wheat, rice and pulses.
Bullish mood in bullion market: Gold prices up
Bullion dealers said higher overseas market advices have led traders to stock more gold, leading the metal to end Rs 5 higher at Rs 8,725 per ten gram.
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| July 07, 2007 | | Wheat import: Govt in a fix
The Central government is in a piquant situation now as far as wheat import is concerned. The government wants the bidders for the 1 million tonne wheat import contract to reduce their prices for the bid.
UN's carbon credit scheme draws flak
Even as developing nations gear up for a big boom in carbon market, several projects registered with the UN carbon market regulator have drawn flak from various quarters.
Rush for bio-fuel to fuel edible oil prices
Global warming threat has forced all developing nations to go for bio-fuel in a big way. The case of India is also not different.
Rice prices to rise again
However, India's chances of benefiting from the soaring rates are low following the strengthening of rupee against dollar.
India, China to equal US jewellery market
India and China are together expected to equal world's largest jewellery market, the United States, by 2015 when the global gems and jewellery trade is expected to touch $230 billion, states a new industry report.
Get Swiss gold coins from Syndicate Bank
One of India's leading banks -- Syndicate Bank -- on Friday launched an innovative project to sell gold coins exclusively imported from Switzerland.
'Indo-Pak spat not to hit Basmati exports'
The ongoing tussle between Indian and Pakistan over patenting of super Basmati rice will, in no way, will not hamper India's export potential, said Veetee Fine Foods Ltd CEO Aayushman Gupta in Kolkata.
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| July 06, 2007 | | Egg exports suffer for want of trays
Shortage in paper trays is halting export of eggs from India. According to All India Poultry Products Exporters Association, there is a dearth of specially made, water-proof, chemically treated paper trays.
Strong Rupee: Indian exports hit hard
Exports of textiles and jewellery from India may register negative growth this year thanks to the appreciation of Rupee against the US dollar.
MCX to start on-line spot trading in September
The exchange also plans to start Futures trading in electricity, carbon credit, coal, freight index, weather index, real estate index and rain index after the amendment to the Futures Contracts Regulation Act is passed by the Parliament.
Bill Gates to set up agro kiosks in Maharashtra
Microsoft chairman Bill Gates has offered to set up high tech agro kiosks across Maharasthra to help farmers get information on weather and cropping patterns.
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| July 04, 2007 | | V-Guard IPO to hit market in October
V-Guard, one of India's leading electrical and electronic companies, is all set to enter the capital market with an initial public offer of around Rs 70 crores
Rajasthan to export roses
Now onwards fragrance of Rajasthan roses will spread across the world with the state government deciding to set up a rose market at Ajmer and export the flowers to foreign countries.
Mining firms caught in lease delay woes
Iron ore mining industry is facing a major crisis with the governments delaying issue of mining leases to companies.
MCX launches <I>Commodity Vision</I>
India's leading commodity bourse--the Multi Commodity Exchange -- on Tuesday launched Commodity Vision
India, hot destination for gold fabrication
India, the world's largest consumer of gold jewellery, is becoming a hot destination for gold fabrication business.
Commodity producers facing host of issues: UN
Commodity producers across developing countries are facing a host of issues, says a study from the United Nations Conference on Trade and Development.
Commodities bull run not at an end: Jim Rogers
The commodities bull run was expected to continue because there was no extra supply to drive prices down, said investment guru, Jim Rogers.
Coconut oil may cost more
Prices have firmed up by Rs 100 per quintal (Rs 4,750 per quintal on Monday) in Kochi and it is expected to increase as the demand for oil increases in the festival season.
Will bio-fuels spark off starvation?
Several non-governmental organisations (NGOs) working in various countries have expressed apprehensions over the increased stress given by nations for the use of bio-fuels.
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| July 03, 2007 | | What are commodity ETFs & ETNs
Commodity ETFs (exchange traded funds) attempt to track the price of a single commodity, such as gold or oil, or a basket of commodities by holding the actual commodity in storage, or by purchasing futures contracts.
Rubber board seeks Rs 650 cr
The Rubber Board has presented a detailed plan to the commerce ministry in this regard. The economic and finance committee under the ministry will examine the proposal and forward it to the plan panel for approval.
'Integrate spot and futures exchanges'
Integration of the spot and futures exchanges is a crucial factor for the growth of commodity futures in India. It is difficult to develop a good derivatives market without adequate spot price discovery.
Indo-Japanese plan for energy efficiency
A joint statement issued at the end of an India-Japan energy dialogue said both the countries would explore ways and means to further cooperation in the field of new and renewable energy sources.
India exploring imports of wheat
India had sought to buy 1 million tonnes of wheat in May last but backed could not strike a deal because of high prices. However last week, India entered the market with a tender for 1 million tonnes, despite prices soaring to 11-year high.
Ficci calls for changes in APMC Act
The apex biz chamber said that there is an urgent need to make contract farming legal.
Cadbury eyes coconut farmers to promote cocoa
According to a press release, the five-year agreement aims to bring 50,000 acres under cocoa farming, which would provide coconut farmers an additional income of Rs 80 crore a year. The agreement was signed in Tiruchi, the release said.
Bumper crop to check oil prices
The government is expecting a better soyabean and groundnut production on account of well-distributed monsoon rains and good prices.
Currency futures: Coming soon to India
The Reserve Bank of India has set up an expert working group for examining issues related to the launch of currency futures in the country.
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| July 02, 2007 | | Monsoon normal, farmers upbeat
The meteorological department in India has predicted that there will be normal monsoon rains next month that will result in better crops for the country's 234 million farmers.
US ends duty-free tariff for Indian jewellery
Indian jewellery exports will now attract 6.5 per cent duty in the US.
Now an academy to safeguard futures
The Ahmedabad-based Kunvarji Group has has signed with India's leading bourse, Multi Commodity Exchange of India (MCX) for offering Commodities related Training Programs in Ahmedabad.
Good monsoon may help ease inflation
There is good news for the Central government, which is struggling to rein in inflation. Monsoon rains were more than normal in June and the government can hope for a better kharif crop, which in turn may help reduce inflation.
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