Tonnes


 

India, the world's second-biggest grower of such as rice and wheat, produced a record 275.68 million tonnes of grains in the 2016/17 crop year against a forecast of 273.38 million tonnes.

biggest grains grower India produced Record Rice second tonnes wheat

 

Indian traders are likely to 25 tonnes of from in July and August, taking advantage of a recent change that allows importers to ship in without paying a 10 per cent customs duty, industry officials told Reuters.

The government has asked traders who are importing under to fill in a questionnaire that asks them to specify whether the goods are manufactured in those countries, the official said.

countries discount duty goods imports Indian July official tonnes traders

 

The country has sufficient stock of available and there are no plans to allow further imports of the at zero duty, Food Minister said on Saturday.

The country has supply of about 27.9 million tonnes (MT) in the current 2016-17 season (October-September).

crushing current duty import mills mt October operations season tonnes

 

Food Minister on Saturday said the has no immediate plans to further hike from the existing 10 per cent.

On March 28, an of 10 per cent was imposed on to curb in view of record domestic output at around 97.44 million tonnes in 2016-17 crop year (July-June).

cent crop duty existing food hike minister plans Saturday tonnes

 

Gold hits two-month high, demand falls 3% due to GST [0.15]

Posted on Aug. 11, 2017, 3:53 p.m. by Markets @ [source]

Standard in the popular Zaveri Bazaar in Mumbai jumped by 0.5 per cent or Rs 140 to close at Rs 29,210 per 10 grams on Friday gaining 2.5 per cent during the week.

Meanwhile, prices traded higher by 0.4 per cent today at $1,287 an oz on Friday translating 0.2 per cent increase in on the Multi Commodity Exchange (MCX) here with the contract for delivery in near month jumped to Rs 29,230 per 10 grams.

cent demand Friday grams India jumped lower physical Rs tonnes

 

Gold imports more than doubled in July [0.07]

Posted on Aug. 9, 2017, 7:44 p.m. by Markets @ [source]

Inbound purchases rose to 53.4 tonnes last month from 22 tonnes a year earlier, said the person, who didn't wish to be identified because the data isn't public. Sequentially, imports of the metal fell from 72 tonnes in June.

data earlier identified import inbound person purchases rose tax tonnes

 

Following the onslaught of what is apparently the worst has faced in 140 years, mills in the state are reaching out to their counterparts in to alleviate the chronic shortage of They have asked factories in UP to supplt 600,000 of raw during the 2017-18 season.

Following deficient rainfall this season, for the fourth consecutive year in a row, mills in are estimating a mere 550,000–650,000 tonnes of output for 2017-18 as against 2.4 million tonnes in 2011-12.

deficit government mills raw Rs season SS surplus tonnes transportation

 

Gold demand shines, up 30% in January-June: WGC [0.10]

Posted on Aug. 3, 2017, 7:03 p.m. by Markets @ [source]

India’s jumped 30 per cent in the first half of 2017 on robust buying towards the end of the April-June quarter, according to the (WGC).

India’s during January-June jumped to 298.4 tonnes from 229.4 tonnes in the corresponding period of the previous year.

April buying cent demand India investment jumped June tonnes WGC

 

Gold prices may be rising, but the precious metal is failing to attract investors as concerns about policy normalization by central banks weighs on demand and creates a conflicted outlook for the commodity.

Demand for gold-based exchange traded funds (ETF) fell 76 percent in the last quarter, according to the World Gold Council's latest gold demand trends report.

banks central Council demand ETF Gold jewellery quarter report tonnes

 

India's Q2 gold demand surges 37% to 167.4 tonnes: WGC [0.11]

Posted on Aug. 3, 2017, 11:46 a.m. by Markets @ [source]

India filled the gap seen in global jewellery demand for gold in June quarter.

According to data, India's jumped in the first half of the current calendar year on robust buying from consumers towards the end of the April-June quarter amid fear of the goods and services tax (GST) implementation.

bars demand Gold GST India June quarter Somasundaram tonnes WGC

 

India’s insatiable appetite for was evident once again in the second quarter of calendar year 2017 (Q2CY17).

Given the implementation of GST, expects the demand for to remain muted in the second half of CY17 (H2CY17).

calendar Consumers demand Festival Gold Q2 quarter rate surged tonnes

 

Gold import in second half set to slide [0.05]

Posted on July 29, 2017, 5:43 p.m. by Markets @ [source]

It was 500-plus tonnes in the first half, supported by a 126 per cent surge in demand during the June quarter.

Even so, total import for the year would be about 50 per cent higher, at close to 760 tonnes, than the 2016 one of 510 tonnes.

cent demand GFMS higher import jewellery market quarter survey tonnes

 

As part of a new nationwide tax regime that kicked in on July 1, the on has jumped to 3 per cent from 1.2 per cent previously. The domestic price includes a 10 per cent import tax.

benchmark cent domestic GFMS import July ounce premiums tax tonnes

 

After 500-plus tonnes of import in first half of 2017, supported to a great extent by a 126 per cent surge in demand during the June quarter, imports are estimated to nosedive during the second half of the year, due to the implementation of the Goods and Services Tax (GST). By one estimate, the drop in imports could be a staggering 50 per cent, or about 250 tonnes, in the July-December period this year.

cent demand goods GST import jewellery quarter services tax tonnes

 

Pepper futures back but cheap imports worry traders [0.01]

Posted on July 25, 2017, 6:55 p.m. by Markets @ [source]

Black pepper is back on the derivatives-trading platform after nearly four and a half years with the National Commodity & Derivatives Exchange (NCDEX) relaunching the commodity.

Contract futures trading in black pepper was suspended four and a half years ago after the (FSSAI) seized more than 6,000 tonnes from its warehouses on complaints of mineral oil contamination.

cent commodities delivery futures Kerala Pepper tonnes trader trading years

 

Onion hits 8-month high on supply disruptions, low arrivals [-0.04]

Posted on July 25, 2017, 1:44 p.m. by Markets @ [source]

Data compiled by the National Horticultural Research & Development Foundation (NHRDF) showed that the model price of in Maharashtra’s mandi almost doubled to Rs 8.70 per kg, from its earlier low of Rs 4.50 per kg. Consequently, government agencies like the Small Farmers' Agribusiness Consortium (SFAC) and the National Agricultural Cooperative Marketing Federation of (Nafed) accumulatively procured nearly 30,000 tonnes of during the last season.

agricultural buffer due government market National Rs kg season stock tonnes

 

Over half of India currently faces deficit despite existence of huge carryover stocks from the previous year and bumper output in some states including Uttar Pradesh and Maharashtra.

States with deficit in 2016-17 States Production Consumption Punjab 0.6 1.3 Haryana 0.6 1.0 Bihar 0.5 1.0 Gujarat 0.9 1.7 Rajasthan 0.0 2.1 Kerala 0.0 0.8 MP & Chhattisgarh 0.4 2.1 AP and Telangana 0.5 1.1 Odisha 0.04 0.5 West Bengal 0.0 1.3 Jharkhand 0.0 0.4 North East 0.0 0.4 UT & Others 0.0 1.3 Source: Industry; Production, consumption in mn tonnes The government has asked Indian Mills Association (ISMA) to ensure that Mills do not increase prices as market prices were quoted at three-month highs.

consumption deficit huge July Maharashtra production region states supply tonnes

 

Spot was up 0.2 per cent at $1,2361 an ounce by 0913 GMT, having touched $1,238.76, its highest since July 3. US futures rose 0.3 per cent to $1,236.80.

averages cent currencies day imports moving ounce rose spot tonnes

 

Government buying of pulses falls 86% short of target [0.03]

Posted on July 17, 2017, 7:52 p.m. by Markets @ [source]

After a big success during the earlier kharif season, government agencies have failed in procurement in the ongoing rabi marketing season, missing their target by 86 per cent. Since the government has extended procurement time by three weeks, we have time to procure more,” said Sanjeev Chadha, managing director of Earlier, the ministry had asked Nafed, and the Small Farmers’ Agribusiness Consortium, all government owned, to purchase kharif at the MSP.

cent earlier farmer government kharif marketing procurement rabi season tonnes

 

Around 20% of soybean output to remain uncrushed this year [0.06]

Posted on July 15, 2017, 12:59 p.m. by Markets @ [source]

Despite remaining dependent on imports for over 55 per cent of its edible oil demand, India is set to see around a fifth of its output going uncrushed this season, thanks to a sharp fall in prices and cheap oil imports from and Malaysia.

Meanwhile, data compiled by the Solvent Extractors’ Association of India (SEA), showed 15 per cent increase in import of vegetable (edible and non-edible) oil at 1.34 million tonnes in June 2017 compared to 1.17 million tonnes in the corresponding month last year.

cent edible farmers import India oil rainfall season sowing tonnes