Commodities News
Econ panel: No need to raise local fuel prices
International crude prices will remain in the range of $70 to $75 a barrel, the government does not need to raise fuel prices.
However, the global crude oil prices is expected to be around $70 to $75 per barrel but if prices increase beyond that consistently, then the numbers will have to change.
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Cardamom output is likely to drop 15-20%
The cardamom output is likely to fall 15-20 per cent this season due to delayed monsoon. The plantations in Kerala were devoid of showers during June, resulting in a drought condition that hampered the crop output, farmers from Idukki said.
Last year, the total production was 10,000 tonnes, Idukki district contributed to most of those. Growers [...]
Basmati exports to Iran may suffer on negative media reports
Basmati exporters are facing fresh threats to their business with Iran. Media reports in Iran are fueling the threats that the rice varieties, especially the Pusa 1121 variety, were genetically modified, chemically treated and harmful to health. The industry has breifed commerce secretary Rahul Khullar on the subject and urged government intervention at the appropriate [...]
Spot rubber falls further
On Monday, spot rubber weakened further, as market continued to witness moderate selling from dealers and growers reacting to the sharp declines in rubber futures on TOCOM.
Sheet rubber moved down to Rs 100.50 from Rs 102.50 a kg in the absence of fresh enquiries from major consuming industries.
The September futures for RSS 4 improved to [...]
Pepper futures went up
On Monday, pepper futures market went up as the bulls were holding on to their positions with no selling pressure in the market.
The spot prices were on tight supply position and anticipated demand and in tandem with the futures market trend. Consequently, prices increased by Rs 200 a quintal to close at Rs 14,000 (un-garbled) [...]
Coffee prices may remain ”comfortable”
It is expected that the global economic crisis will not affect coffee consumption although reports received indicate a change in the patterns of consumption, the Coffee Board’s Joint Director of Research, Dr Y. Raghuramulu, said at a session on Commodity Outlook at the 116th annual conference of the United Planters Association of Southern India (Upasi).
While [...]
