BONDS, CURRENCIES & COMMODITIES


The price of turmeric between 1 October 2009 and 15 October 2009 shot up from around Rs8,000 to Rs8,900 due to lower arrivals and strong demand. Emergence of export demand from the Middle East is also supporting the gain in prices. Turmeric stocks were already lower by seven lakh bags compared...

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Crude oil has hit a fresh one-year high. Prices can touch $90 per barrel from here on. Demand from emerging Asia is already strong; and demand from rich countries should start to pick up in the first quarter of 2010. Capacity expansion could create tightness in supply with refinery capacity...

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Spice exports from India fell 10% between April 2009-August 2009. The country’s export earning has slipped 9% to $429.68 million from $546 million a year ago. However, in August 2009, exports rose 3.5%. Indias cotton exports in the 2008-2009 season which ended in September 2009, are estimated...

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In the Moneylife issue dated 24 September 2009, we had written about crude oil to natural gas ratio hitting its highest level indicating that oil is vastly expensive relative to natural gas. The conclusion was that either natural gas would go up sharply or oil would fall. Since then, natural gas...

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Tea import by India, the world’s largest producer after China, has shot up 28% in July 2009, despite high prices. In July 2009, India imported 2.85 million kg of tea compared with 2.05 million kg a year earlier. India produced 460.88 million kg till July 2009, about 16 million kg less than a...

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Natural gas slid to a seven-and-a-half-year low, falling to an intraday low of $2.409 per million British thermal units (mmBtu) on 4 September 2009. But, from there, it recorded a jump of 56% in just a few days of trading. The price was $3.76 per mmBtu as on 15th September. Natural gas prices...

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      Aluminium prices saw a revival during June-August 2009 due to supply concerns of Japanese primary aluminium buyers in the March 2009 quarter. Also, following an accident at Russia’s largest hydroelectric power station in Siberia, RUSAL, the world’s largest aluminium producer, has...

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Gold Loses Lustre… Despite the festive season, gold import declined by a huge 90% in August 2009, as the high prices deterred people from buying the precious metal, especially after drought triggered fears of a dent in rural income. The import of gold this festival season (September-December)...

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Despite the festive season, gold import declined by a huge 90% in August 2009, as the high prices deterred people from buying the precious metal, especially after drought triggered fears of a dent in rural income. The import of gold this festival season (September-December) is expected to be...

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Aluminium prices saw a revival during June-August 2009 due to supply concerns of Japanese primary aluminium buyers in the March 2009 quarter. Also, following an accident at Russia’s largest hydroelectric power station in Siberia, RUSAL, the world’s largest aluminium producer, has announced...

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In the domestic market, raw jute prices crashed 40% to reach around Rs18,000 a tonne in August 2009 from the all-time high of Rs30,200 a tonne in July 2009, on concerns of a possible 25% dilution in Jute Packaging Materials Act (JPMA) of 1987. Sugar industry made it worse for the raw jute price,...

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High price of gold has forced consumers to refrain from fresh orders leading to a 38% slump in India’s gold demand in the June 2009 quarter. Global jewellery demand in that quarter has slipped 22% to 404.1 tonnes taking the overall consumption to 569.7 tonnes, 14% lower than in the June 2008...

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Monsoon, the main source for irrigation for the country’s 235 million farmers, may be on the lower end of the forecast. Rainfall in the June-September season will be 93% of the long-period average of 89 centimetres (35 inches). Rain in July, the wettest month in the June-to-September monsoon...

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Sugar price has hit a 28-year high on the international market (ICE). One of the reasons is India’s deficient monsoon. Production in India is projected to fall to 15-17 million tonnes in 2009-10 from the initial forecast of 20 million tonnes. Paradoxially, what has made things worse is excess...

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Platinum is the new attraction for traders in the commodity market in India. The daily average volume of the white metal on the Multi Commodity Exchange (MCX) has risen five times in July, albeit from a small base. As volumes have picked up, the spreads have narrowed. Globally, platinum is...

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· Lack of selling and ample buying pushed ICE Futures US cotton to a nine-month high, amid rallying commodities and a falling US dollar. One of the key reasons is late monsoon rains, in the world’s second largest cotton producer, India.   · Scanty rainfalls were also responsible for a sharp...

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Oil prices, which had started recovering after dropping to a low of $30/barrel, are slipping again. Crude oil is trading below $60/barrel after touching a high of $70 in the recent past. Oil prices seem to have dropped because a rise of the dollar against the euro has limited investors’ need to...

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Oilmeal exports declined 57% in the first quarter of FY2009-10 on poor overseas demand. The total export of soybean oil fell 74%. Export of rice bran extract slumped to 38,448 tonnes from 81,418 tonnes and castor extract fell to 40,290 tonnes from 46,610 tonnes.   A huge surplus stock of...

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