Tuesday, 30 April 2013 14:48
Posted by Shoaib-ur-Rehman Siddiqui
MUMBAI: Indian sugar futures were treading water on Tuesday as a slight improvement in demand due to the summer season outweighed ample supplies and a drop in overseas prices.The key June contract on India's National Commodity and Derivatives Exchange was down 0.07 percent at 2,967 rupees per 100 kg at 0928 GMT, after hitting a contract low of 2,949 rupees last week."Sugar mills in Uttar Pradesh are aggressively selling. They want to pay cane farmers' dues quickly," said a Mumbai-based dealer.Mills usually pay farmers a large chunk of the cane price immediately after harvest or within two weeks.Spot sugar nudged up one rupee to 3,025 rupees per 100 kg in the Kolhapur market in the top-producing Maharashtra state.Demand for sugar from ice cream and beverage makers typically rises during the summer.India is likely to produce 24.6 million tonnes of sugar in 2012-13, an industry body has said, against an annual ...
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MUMBAI: Indian sugar futures were treading water on Tuesday as a slight improvement in demand due to the summer season outweighed ample supplies and a drop in overseas prices.The key June contract on India's National Commodity and Derivatives Exchange was down 0.07 percent at 2,967 rupees per 100 kg at 0928 GMT, after hitting a contract low of 2,949 rupees last week."Sugar mills in Uttar Pradesh are aggressively selling. They want to pay cane farmers' dues quickly," said a Mumbai-based dealer.Mills usually pay farmers a large chunk of the cane price immediately after harvest or within two weeks.Spot sugar nudged up one rupee to 3,025 rupees per 100 kg in the Kolhapur market in the top-producing Maharashtra state.Demand for sugar from ice cream and beverage makers typically rises during the summer.India is likely to produce 24.6 million tonnes of sugar in 2012-13, an industry body has said, against an annual ...
MUMBAI: Indian soybean futures rose on Tuesday on bargain buying driven by gains in overseas markets, while soyoil futures hit a contract high on robust demand due to the wedding season.Rapeseed futures edged higher following gains in edible oil prices.At 0840 GMT, the benchmark Malaysian palm oil contract was unchanged at 2,273 ringgit per tonne, while US soybeans rose 0.97 percent to $14.86 per bushel."Soyoil supplies are tight due to the slowdown in soybean crushing. ...
SINGAPORE: London copper slipped on Tuesday and was facing its biggest monthly loss since October as worries over tepid global growth pushed investors away from commodities, although hopes for more easing from central banks cushioned losses.Three-month copper on the London Metal Exchange had eased 0.19 percent to $7,140 a tonne by 0702 GMT, eroding gains of almost 2 percent the session before.London copper is likely to shed about 5 percent in April, on course for ...
SINGAPORE: Chicago corn futures rose more than 2 percent to one-week highs on Monday on forecasts for further unfavorable weather across US Plains, which would further delay plantings.Wheat rose, drawing support from corn, while soybeans also edged higher for the third session, touching a 10-day peak.Chicago Board of Trade July corn futures, the most actively traded contract, had gained 1.61 percent to $6.29-3/4 a bushel by 0051 GMT, having hit a session peak of $6.32-1/2 ...
SINGAPORE: Spot iron ore prices are likely to slip further this week as softer steel demand may prod Chinese steel mills to curb output, although a shorter trading period in Beijing will limit market activity.China's steel industry body on Saturday warned that an anticipated rise in demand would not be enough to justify sharp increases in production by the country's steel mills -- world's biggest iron ore buyers -- in coming months."Downstream demand will gradually ...
MUMBAI: Gold futures in India, the world's biggest buyer of the metal, edged higher on Monday, still near the highest level in two weeks, discouraging importers seeking to stock up for upcoming weddings and festivals.At 0900 GMT, the most-active gold for June delivery on the Multi Commodity Exchange (MCX) was 0.13 percent higher at 27,225 rupees per 10 grams, after hitting a high of 27,447 rupees on Friday, a level last seen on April 15.A ...
