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Nov 20, 2014

Indians get taste for branded edible oil as prices drop, incomes rise

SATARA, India, Nov 20 (Reuters) – After years of buying
cooking oil sold in plastic bags at a village store, Indian
farmer Kisan Pawar has made the jump to branded packs of soyoil
from a retail chain.

Falling prices of imported oil and a marketing drive
that often plays on health concerns over unbranded sales are
prompting more Indians like Pawar to switch to products sold by
big companies such as Ruchi Soya, Adani Wilmar,
Cargill and Bunge.

Nov 18, 2014

Indian cotton trade stalls as China trims imports, prices drop

JALGAON, India, Nov 18 (Reuters) – Pradeep Jain has been
operating his ginning mill at only 10 percent of capacity even
as India is set to become the world’s biggest cotton producer
with a record harvest.

“Since prices have fallen below the minimum support price,
farmers are not willing to sell their crop to private players,”
Jain said, pointing towards his empty warehouse, which usually
overflows in November as harvesting gains pace.

Nov 13, 2014

Appetite for jewellery boosts India gold demand -WGC

MUMBAI, Nov 13 (Reuters) – Indian appetite for gold jumped
by more than a third in the last quarter, in sharp contrast to
the rest of the world, boosted by jewellery demand for the
wedding season, an industry body said on Thursday.

Demand in India rose 39 percent to 225.1 tonnes in July-Sept
- the second highest on record for the quarter, even as global
appetite fell to its lowest in nearly five years, according to
the World Gold Council.

Oct 17, 2014

Indian natural rubber output likely to drop as farmers suspend tapping

MUMBAI, Oct 17 (Reuters) – Indian natural rubber output is
likely to drop over 10 percent in 2014/15 from the previous crop
year, hit by heavy rain in key growing regions and as farmers
suspend tapping due to lower prices, the head of the country’s
top producer said.

Falling output amid rising demand from the local auto
industry would force the world’s fifth biggest rubber producer
to increase overseas purchases of the tyre making material.

Oct 16, 2014

With seizures up, Indian gold smuggling loses its shine

MUMBAI, Oct 17 (Reuters) – Gold smuggling into India, the
world’s second-biggest consumer of the precious metal, is
becoming more risky for couriers following a surge in seizures
and less profitable for the gangs behind the practice.

After being caught off guard by a jump in smuggling on the
back of a hike in import duty last year, government agencies
have stepped up seizures to the extent that couriers are
demanding more money to carry in gold, according to customs
intelligence officials and an industry analyst.

Oct 13, 2014

Asia Softs-Tokyo rubber may try to rally; glut hits sugar

MUMBAI, Oct 13 (Reuters) – Tokyo rubber futures may edge up
from recent five-year lows this week as China could be raising
imports, although a further fall in crude oil prices would limit
any gains in the global rubber benchmark, dealers said on
Monday.

Among other soft commodities, Vietnamese robusta prices are
likely to trim their discount to London prices, but Thai raw
sugar discounts could remain steady to New York futures as mills
are eager to cut stock before the new season starts next month.
Cocoa butter could edge higher due to tight supplies.

Oct 9, 2014

Sugar mill defaults on bank loans, others may follow

MUMBAI (Reuters) – Plunging sugar prices have forced at least one sugar mill to default on bank loans and could drive others to do the same, the latest sign of the heavy toll a four-year-old supply glut in the country is taking on producers of the sweetener.

One of the country’s largest sugar mills, Mawana Sugars Ltd (MAWS.NS: Quote, Profile, Research), has defaulted on 2.5 billion rupees ($40 million) of outstanding loans from a consortium of lenders, according to an official from the company.

Oct 9, 2014

Indian sugar mill defaults on bank loans, others may follow

MUMBAI, Oct 9 (Reuters) – Plunging sugar prices have forced
at least one Indian sugar mill to default on bank loans and
could drive others to do the same, the latest sign of the heavy
toll a four-year-old supply glut in the country is taking on
producers of the sweetener.

One of the country’s largest sugar mills, Mawana Sugars Ltd
, has defaulted on 2.5 billion rupees ($40 million) of
outstanding loans from a consortium of lenders, according to an
official from the company.

Sep 28, 2014

Palm oil to hit new 5-1/2 year low at 1,900 ringgit-analyst Mistry

MUMBAI, Sept 28 (Reuters) – Palm oil prices are likely to
fall nearly 13 percent to hit a new 5-1/2-year low of 1,900
ringgit ($583.36) per tonne on higher output and sluggish
demand, but losses could be restricted to 2,000 ringgit if the
Malaysian currency depreciates sharply, leading analyst
Dorab Mistry said.

Malaysian palm oil futures settled at 2,177 ringgit
($668.40) per tonne on Friday, after hitting a 5-1/2-year low at
1,914 ringgit on Sept. 2.

Sep 28, 2014

Malaysia could allow duty free palm oil exports until year end- Felda Global

MUMBAI, Sept 28 (Reuters) – Malaysia, the world’s
second-biggest palm oil producer, could extend duty free exports
until the end of 2014 if prices of the tropical oil remain at
current levels, a leading palm oil producer told Reuters in an
interview.

Malaysia has allowed duty free exports of crude palm oil for
September and October. A further extension in duty free exports
would help it reduce stockpiles but also put pressure on rival
top producer Indonesia to consider similar measures.

    • 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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