India's gold imports in May will fall by nearly 50% on
year to around 15 metric tons, as high prices have squeezed local demand, a top
industry official said.
Suresh Hundia, president of the Bombay Bullion Association, told Dow Jones
Newswires the rise of the equity markets have also hit investment demand in
gold.
Gold imports between January and March were only about 10 tons, but shot up in
April to 29 tons because of a dip in prices and demand due to the Hindu festival
of Akshaya Trithya.
"The import demand in May has not improved, though local demand was good in
April," he said.
27 May 2009
Market talk India Sugar Futures Hit lower Limit after Ban
India June sugar contract on NCDEX hits lower limit of 4%
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
Market talk India Sugar Futures Hit lower Limit after Ban
India June sugar contract on NCDEX hits lower limit of 4%
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
Market Talk India Sugar Stocks Down on futures trading Ban
India June sugar contract on NCDEX hits lower limit of 4%
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
at INR2,215/100 kg, a day after suspension of fresh trading in futures.
"Sentiment is likely to remain subdued for the rest of the session," says
Ashwini Bansod, analyst with MF Global Commodities. Federal government suspended
fresh trading in sugar contracts until Dec. 31 to check rising prices. Trading
during day is not permitted at prices below 4% limit.
Market Talk India Suger Stocks Down on fitures trading Ban
India sugar stocks down, underperforming broad markets,
after federal government suspends futures trading until December 31. "There will
be no new positions and only squaring off of old contracts will be allowed,"
Rajeev Agarwal, member of Forward Markets Commission, says. "The government's
move will cool off sugar stocks by arresting the rise in domestic sugar prices,"
says Deven Choksey, MD of K R Choksey. Adds, stopping speculation in sugar
futures a positive move; though recent rally in sugar stocks to be halted, there
could be some medium term upside as sugar companies likely to report better 1Q,
2Q earnings. Says, standalone companies likely more affected vs companies with
diversified revenue streams like power generation, alcohol production. Shree
Renuka Sugars (532670.BY) down 1.6% at INR123.20, Bajaj Hindusthan (500032.BY)
down 3.3% at INR133.60, Balrampur Chini (500038.BY) down 3.1% at INR82.65.
after federal government suspends futures trading until December 31. "There will
be no new positions and only squaring off of old contracts will be allowed,"
Rajeev Agarwal, member of Forward Markets Commission, says. "The government's
move will cool off sugar stocks by arresting the rise in domestic sugar prices,"
says Deven Choksey, MD of K R Choksey. Adds, stopping speculation in sugar
futures a positive move; though recent rally in sugar stocks to be halted, there
could be some medium term upside as sugar companies likely to report better 1Q,
2Q earnings. Says, standalone companies likely more affected vs companies with
diversified revenue streams like power generation, alcohol production. Shree
Renuka Sugars (532670.BY) down 1.6% at INR123.20, Bajaj Hindusthan (500032.BY)
down 3.3% at INR133.60, Balrampur Chini (500038.BY) down 3.1% at INR82.65.
India Jun sugar contract Hits 4% Lower Limit
India's June sugar contract opened 3% lower Wednesday at
INR2,238/100 kg, a day after the federal government suspended fresh trading in
sugar contracts until Dec. 31.
No new positions can be taken and only squaring up of positions will be
allowed in regard to existing contracts, according to the commodity futures
regulator.
INR2,238/100 kg, a day after the federal government suspended fresh trading in
sugar contracts until Dec. 31.
No new positions can be taken and only squaring up of positions will be
allowed in regard to existing contracts, according to the commodity futures
regulator.
Market talk: India Soybean Futures Likely to open Tad Up
India June NCDEX soybean contract likely to open slightly
up on weak supply, says Badruddin Khan, analyst with Angel Commodities; adds,
falling INR vs dollar may improve soymeal export demand, but "bearish sentiment
may come in agricultural commodities due to ban in sugar futures." Expects
contract to move in INR2,530-INR2,580/100 kg band today; it last ended flat at
INR2,549.50.
up on weak supply, says Badruddin Khan, analyst with Angel Commodities; adds,
falling INR vs dollar may improve soymeal export demand, but "bearish sentiment
may come in agricultural commodities due to ban in sugar futures." Expects
contract to move in INR2,530-INR2,580/100 kg band today; it last ended flat at
INR2,549.50.
Indian Commodities Prices- Agriculture
MUMBAI - The following are Wednesday's prices of oilseeds, oilmeal,
edible oils and grains provided by traders in key trading centers.
Oilseeds in INR/ton: Wednesday Tuesday
Groundnut (Saurashtra) N.A 21,300
Soybean (Indore, ex mandi) 25,190 24,000
Rapeseed (Jaipur, ex mandi) 25,165 26,400
Sunflower Seed (Karnataka) N.A 24,500
Castor Seed (Gujarat) 23,460 24,000
Sesame Seed (Saurashtra) 60,840 60,000
Extractions for export in dollars/ton, free alongside ship, Kandla:
Soybean Meal (Yellow) 48%-2.5% N.A. 460
Rapeseed Meal 38%-2.5% N.A. 250
Oils in INR/ton:
Groundnut Oil N.A. 54,000
Rapeseed Oil (Rajasthan) 44,675 46,800
RBD Palm Olein 41,025 40,700
Crude Degummed Soyoil N.A. 43,500
Crude Palm Oil (Kandla) 36,440 35,600
Crude Palm Olein - -
Refined Oils in INR/ton:
Groundnut Oil N.A. 59,000
Rapeseed Oil N.A. 50,000
Soybean Oil 48,085 45,800
Sunflowerseed Oil N.A. 47,000
Prices of wheat and corn, in INR/ton:
Wheat 10,908 10,960
Corn 8,346 8,354
26 May 2009
India News Highlights :- Top Resources stories of the day
SICOM, NCDEX INK CROSS-MARKET COOPERATION PACT
The Singapore Commodity Exchange and the National Commodity and Derivatives
Exchange of India signed Tuesday an agreement of proposed cooperation in a move
market observers said is aimed at giving both markets a bigger presence amid
increasing regional competition.
OIL INDIA TALKING TO BANKERS OVER INITIAL SHARE SALE
Oil India Ltd. said Tuesday it has started talks with bankers for an initial
sale of shares as the federal government revives plans to sell stakes in
state-run companies to generate revenue and reduce a widening fiscal deficit.
INDIA 09-10 SUGAR OUTPUT FROM MAHARASHTRA MAY RISE
20% Maharashtra, India's largest sugar producing state, may boost output by 20%
in the crop year beginning Oct. 1 as farmers are planting cane over a larger
area to take advantage of better prices, a senior industry official said
Tuesday.
INDIA NALCO CUTS ALUMINUM PRICES BY UP TO INR5,000/TON-EXEC
India's National Aluminium Co. Ltd. cut prices of its aluminum products by
up to INR5,000 per metric ton in line with global rates, a company official said
Tuesday.
SUZLON ENERGY EXEC: MAY SEE PRICING PRESSURES OVER 3-6 MONTHS
Indian wind-turbine maker Suzlon Energy Ltd.'s chief operating officer said
Tuesday the company may see some pricing pressure over the next three-six
months.
INDIA OCT 1-MAY 23 COTTON ARRIVALS 27.67M BALES, DN 9.3% ON YR
India's cotton arrivals in local markets in the crop year that began Oct. 1
fell 9.3% on year to 27.67 million bales as of May 23, data from state-run
Cotton Corp. of India showed Tuesday.
The Singapore Commodity Exchange and the National Commodity and Derivatives
Exchange of India signed Tuesday an agreement of proposed cooperation in a move
market observers said is aimed at giving both markets a bigger presence amid
increasing regional competition.
OIL INDIA TALKING TO BANKERS OVER INITIAL SHARE SALE
Oil India Ltd. said Tuesday it has started talks with bankers for an initial
sale of shares as the federal government revives plans to sell stakes in
state-run companies to generate revenue and reduce a widening fiscal deficit.
INDIA 09-10 SUGAR OUTPUT FROM MAHARASHTRA MAY RISE
20% Maharashtra, India's largest sugar producing state, may boost output by 20%
in the crop year beginning Oct. 1 as farmers are planting cane over a larger
area to take advantage of better prices, a senior industry official said
Tuesday.
INDIA NALCO CUTS ALUMINUM PRICES BY UP TO INR5,000/TON-EXEC
India's National Aluminium Co. Ltd. cut prices of its aluminum products by
up to INR5,000 per metric ton in line with global rates, a company official said
Tuesday.
SUZLON ENERGY EXEC: MAY SEE PRICING PRESSURES OVER 3-6 MONTHS
Indian wind-turbine maker Suzlon Energy Ltd.'s chief operating officer said
Tuesday the company may see some pricing pressure over the next three-six
months.
INDIA OCT 1-MAY 23 COTTON ARRIVALS 27.67M BALES, DN 9.3% ON YR
India's cotton arrivals in local markets in the crop year that began Oct. 1
fell 9.3% on year to 27.67 million bales as of May 23, data from state-run
Cotton Corp. of India showed Tuesday.
Indian Commodity Market Talk :-
1. Market Talk India Gold Futures Up 0.3% ; Weak INR
India June MCX gold contract up 0.3% at INR14,635/10
Grams on weak INR; but fall in overseas markets likely to limit gains. "The only
Supporting factor for domestic gold is the rupee, and it can rally to INR14,800
in the next couple of days," says Devarsh Vakil, head of research at Anagram
Capital; expects contract to trade INR14,570-INR14,720.
2. India Wheat Futures Down 0.5 % on Higher Supply
India wheat June contract on NCDEX down 0.5% at
INR1, 103/100 kg on increasing local supplies. "Warehouses are saddled with
Stocks and the weak spot market is putting pressure on futures prices," says
Vandana Bharti, analyst with SMC Comtrade; expects contract to trade in
INR1,100-INR1,115 range today.
3. India futures flat; likely down later
India June soybean contract on NCDEX little changed at
INR2,543/100 kg; likely to trade down later in session on reduced demand, good
Monsoon. "Normal progress of monsoon is expected to boost the production of
Soybean, which may weigh on the prices," says Mehul Agrawal, analyst with
Sharekhan Commodities; expects contract to trade in INR2,530-2,560 range today.
4. India Sugar futures may open Dn on Higher Output
India sugar futures likely to open down on expectation of
Improvement in production due to early arrival of monsoon, higher imports.
"Local demand has also started falling due to the end of the summer season,"
Says Tejas Seth, analyst with SMC Comtrade; expects June contract on NCDEX to
Trade in INR2,290-INR2,320/100 kg; last ended down 0.5% at INR2,311.
India June MCX gold contract up 0.3% at INR14,635/10
Grams on weak INR; but fall in overseas markets likely to limit gains. "The only
Supporting factor for domestic gold is the rupee, and it can rally to INR14,800
in the next couple of days," says Devarsh Vakil, head of research at Anagram
Capital; expects contract to trade INR14,570-INR14,720.
2. India Wheat Futures Down 0.5 % on Higher Supply
India wheat June contract on NCDEX down 0.5% at
INR1, 103/100 kg on increasing local supplies. "Warehouses are saddled with
Stocks and the weak spot market is putting pressure on futures prices," says
Vandana Bharti, analyst with SMC Comtrade; expects contract to trade in
INR1,100-INR1,115 range today.
3. India futures flat; likely down later
India June soybean contract on NCDEX little changed at
INR2,543/100 kg; likely to trade down later in session on reduced demand, good
Monsoon. "Normal progress of monsoon is expected to boost the production of
Soybean, which may weigh on the prices," says Mehul Agrawal, analyst with
Sharekhan Commodities; expects contract to trade in INR2,530-2,560 range today.
4. India Sugar futures may open Dn on Higher Output
India sugar futures likely to open down on expectation of
Improvement in production due to early arrival of monsoon, higher imports.
"Local demand has also started falling due to the end of the summer season,"
Says Tejas Seth, analyst with SMC Comtrade; expects June contract on NCDEX to
Trade in INR2,290-INR2,320/100 kg; last ended down 0.5% at INR2,311.
6. All Commodity Pack :- MCX Commodity : - Gold Silver Copper Nickel Zinc Crude Oil NCDEX Commodity :- Soybean Muster Seed Soya Oil Guar seed Sugar
6. All Commodity Pack :-MCX Commodity : - Gold Silver Copper Nickel Zinc Crude Oil
NCDEX Commodity :- Soybean Muster Seed Soya Oil Guar seed Sugar Chana Market Data Live Rate Trading Chart Commodityastro.com
5 in1 All Commodity Pack
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