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Jul 28, 2015

China’s gold imports to plunge as financing deals unwind-Valcambi

MUMBAI, July 28 (Reuters) – China’s gold imports could fall
as much as 40 percent this year as demand for bullion used to
back domestic financing deals decreases, the world’s biggest
refiner Valcambi said.

A lot of the gold China imported in the last three years was
used to secure cheaper loans due to a liquidity crunch, but that
is now flowing back into the market as lending rates drop.

Jul 27, 2015

Jeweller Rajesh Exports buys refiner Valcambi for $400 million

MUMBAI (Reuters) – Jeweller Rajesh Exports Ltd (REXP.NS: Quote, Profile, Research, Stock Buzz) has agreed to buy Swiss company Valcambi, the world’s largest gold refiner, for $400 million to secure raw material supplies at lower prices and add technological expertise to expand operations at home.

Rajesh Exports, the world’s largest gold jewellery maker, will next year raise the capacity of its Indian refinery to 200 tonnes per year from 80 tonnes now with the help of Valcambi’s technology, its chairman Rajesh Mehta told Reuters on Monday.

Jul 27, 2015

Indian jeweller Rajesh Exports buys refiner Valcambi for $400 mln

MUMBAI, July 27 (Reuters) – Indian jewellery firm Rajesh
Exports Ltd said on Monday it has bought Valcambi, the
world’s largest gold refining company, in an all-cash deal worth
$400 million as it looks to secure raw material supplies at
competitive prices.

After the acquisition, the world’s largest gold jewellery
maker will expand capacity at it’s India-based refinery, Rajesh
Mehta, the company’s chairman told Reuters.

Jul 23, 2015

Onion prices at near two-year highs on weak monsoon rains

MUMBAI (Reuters) – The price of onions, a staple that has sparked protests in the past and toppled state governments, has jumped to its highest in nearly two years and could fuel food inflation as scant rain delays plantings.

Persistently high food prices, mainly for onions used in everything from bhajis to biryanis, are politically sensitive in India as more than a quarter of its 1.25 billion people live on a maximum of 74 cents per day.

Jul 23, 2015

Indian onion prices at near 2-year highs on weak monsoon rains

MUMBAI, July 23 (Reuters) – The price of Indian onions, a
staple that has sparked protests in the past and toppled state
governments, has jumped to its highest in nearly two years and
could fuel food inflation as scant rain delays plantings.

Persistently high food prices, mainly for onions used in
everything from bhajis to biryanis, are politically sensitive in
India as more than a quarter of its 1.25 billion people live on
a maximum of 74 cents per day.

Jul 21, 2015

After China dumps gold, don’t count on India to come to the rescue

MANILA/MUMBAI, July 21 (Reuters) – Blame poor rains or a
lack of weddings, but Indians, for whom gold is the investment
of choice, aren’t rushing to buy bullion after this week’s sharp
sell-off.

India and China are the world’s top gold buyers and, after
massive selling on the Shanghai Gold Exchange on Monday helped
drive down gold prices by 4 percent to a 5-year low, traders
hoped demand would perk up in India, or elsewhere in Asia.

Jul 17, 2015

Asian buyers snub falling gold price, India still at a discount

MANILA/MUMBAI (Reuters) – A fall in global gold prices to eight-month lows this week failed to boost demand in top consumers China and India as would-be buyers anticipate further declines on the back of a strengthing U.S. dollar.

Bullion took a hit after Federal Reserve Chair Janet Yellen told Congress the U.S. central bank is on track to lift interest rates this year if the U.S. economy expands as expected, sending the dollar to a seven-week high versus a basket of currencies.

Jul 16, 2015

Dry spell wilts crops, stokes food inflation concerns

SARVE, Maharashtra (Reuters) – Farmers in India run the risk of planting too much, too fast in the current monsoon season as an unexpected dry spell starts to wilt crops across the country, raising fears of lower yields and surging food prices in a mostly impoverished nation.

Food prices are a political hot potato in India, where more than a quarter of its population of 1.2 billion people live on a mere 74 cents or less per day. In fact, high food prices have already pushed the country’s June consumer inflation to an eight-month high.

Jul 16, 2015

Dry spell wilts Indian crops, stokes food inflation concerns

SARVE, India (Reuters) – Farmers in India run the risk of planting too much, too fast in the current monsoon season as an unexpected dry spell starts to wilt crops across the country, raising fears of lower yields and surging food prices in a mostly impoverished nation.

Food prices are a political hot potato in India, where more than a quarter of its population of 1.2 billion people live on a mere 74 cents or less per day. In fact, high food prices have already pushed the country’s June consumer inflation to an eight-month high.

Jul 15, 2015

Surge in white sugar sales seen eroding refining margins

LONDON/MUMBAI (Reuters) – A surge in white crystal sugar sales from huge domestic stocks could drive down the premium for refined white sugar over raw sugar and squeeze refiners’ margins.

Large amounts of low-quality white sugar are being offered at a big discount to ICE August sugar futures, traders said, in deals that appeal notably to African markets such as Sudan and Somalia, and countries such as Afghanistan.

    • About Rajendra

      "Rajendra is a commodities correspondent based in Mumbai. He has been tracking agriculture commodities along with agrochemicals and fertilisers for Reuters since 2006. He loves to report on what's changing in the city's hinterland as urbanisation gains pace in India's predominantly agrarian economy."
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