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The big news

Soy meal export to slip 29%, remain 20 lakh tons

22 November 2014

There would be a huge fall in the export of soy meal, also known as soy bean oil cake and used as a filler and source of protein in cattle feed, this  accounting year 2014-15. The President of Soybean Processors Association located in Indore, Davish Jain said, “the export of soy meal may reduce 29% to 20 lakh tons.”  Around   28 lakh tons of soy meal was exported last year, i.e. April 2013-March 2014.

 

Export fall 86% in October

Soy meal export till October this year is 1.40 lakh tons only, while last year’s figure was 10 lakh tons in the same period of time. It shows 86% decline as of October this year. 


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Mustard stocks swell

22 November 2014

On Friday, there appeared expansion in the stocks of mustard in the NCDEX warehouses. Stocks rose by 262 tons and climbed to 2,550 tons in the warehouses of the NCDEX. Stocks were recorded 2,288 tons on Thursday. The stocks rose in the warehouses located in Jaipur and Kota by 212 tons and 50 tons respectively. Mustard is trading currently on NCDEX for December delivery at Rs.3, 850.

 

Expansion in Mustard stocks

Warehouses

Stocks(20.11.14)

Stocks(21.11.14)

Change

Alwar

221

221

0

Bharatpur

0

0

0

Bikaner

394

394

0

Hapur

30

30

0

Jaipur

472

684

212

Kota

962

1012

50

Sriganganagar

209

209

0

Total

2288

2550

262

Stocks in tons

market times, market times tv


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Soybeans stocks climb

22 November 2014

The stocks of soybeans rose by 162 tons to 10,762 tons in the warehouses of the commodity exchange NCDEXon Friday. Stocks were 10,600 tons on Thursday. Stocks climbed 122 tons in the warehouses located in Indore on 21 Novemer. Stocks were recorded 7,623 tons  in the warehouses in Indore against 7,501 tons in Thursday. Stocks surged 40 tons to 2249 tons at Kota.

 

Soybeans stocks up

Warehouses

Stocks(20.11.14)

Stocks(21.11.14)

Change

Indore

7501

7623

122

Kota

2209

2249

40

Akola

          331

331

0

Itarasi

30

30

0

Mandsaur

149

149

0

Vidisha

380

380

0

Total

10600

10762

162

Stocks in tons

market times, market times tv


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Slight surge in coriander stocks

22 November 2014

 

The stocks of coriander in NCDEX warehouses surged 69 tons and were recorded 3,099 tons on 21 November, which were 3,030 tons on 20 November.

 

Coriander stocks rise

Warehouses

Stocks (20.11.14)

Stocks (21.11.14)

Change

Kota

60

60

0

Kota

1863

1882

19

Gondal

10

10

0

Jaipur

20

40

20

Baran

229

259

30

Ramganj Mandi

848

848

0

Total

3030

3099

69

Stocks in tons


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Suspicion of big fraud in gold import, 20% exported in 72 hr

22 November 2014

The government had brought norms under 80:20 scheme to discourage gold import but it proved less effective in curbing import of yellow metals. One can find the reason to know how gold importers are violating the norms under the said scheme after viewing recent gold import data. As per the data released by Commerce Ministry, gold export surged 280% in October.

 Importers use 80:20 schemes as a weapon

The importers are using that very norm as a valve in increasing import which is meant to curb it. Under the scheme of 80:20, an importer has to manufacture jewelries from 20% of the total gold imported by him and he or she does not get permission to make further import until finished jewelries are not exported. But the jewelers are involved in a business of making unfinished jewelries and exporting them to their agents in foreign countries, who resend the metal after melting it and this complete process takes hardly two to three days. In other words, gold amount meant for export under the said scheme is ready for export in 72 hours only.

6 firms import 40% of total gold imports

As per the data released by the Government, only six firms imported around 40% of the total volume of gold imports, while five government firms imported only 6.4% of gold in the size of import. According to government officials, “Only six firms, who imported only 7.57 tons of gold in April, altogether, have imported 47.26 tons in September itself.” The government officials also revealed that a trading house had imported 7 tons gold in April, while in September its volume of import surged 20 tons. The RBI norms do not permit more than two tons of gold at a time. Hence, the company has imported gold 10 times in a month and it can be possible when 30% export is made in 72 hours.

market times, market times tv


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Silver futures rise after China rates cut

22 November 2014

 As People’s Bank of China slashed benchmark interest rates to boost its economy, bullion took a bounce back. Silver futures rose to three-week high as its demand for precious metals as a store of value got a boost. Palladium jumped the most in 14 months.

China slashes interest rates  

China’s one-year deposit rate was lowered by 0.25 percentage point to 2.75 percent, while the one-year lending rate was reduced by 0.4 percentage point to 5.6 percent, effective today.

Silver gains

Silver futures for March delivery gained 1.6 % to $16.459 an ounce. Earlier, the price reached $16.66, the highest since Oct. 30.

On the New York Mercantile Exchange, palladium futures for December delivery jumped 3.6 % to $794.90 an ounce, the biggest gain since Sept. 19, 2013.

Silver and palladium trading doubled compared with the 100-day average.

Platinum futures for January delivery rose 1.8 percent to $1,227.30 an ounce, the largest advance since Oct. 6.

market times, market times tv


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Gold surges as China slashes interest rates

22 November 2014

 Gold futures rose to three-week highs after China cut benchmark interest rates to support economic growth, boosting demand for precious metals as a store of value. Palladium jumped the most in 14 months.

The rate reduction was the first since July 2012 as the Asian nation heads toward its slowest full-year expansion in almost a quarter century. Russia added to gold reserves in October, bringing holdings to the highest in at least two decades, International Monetary Fund data showed.

The yellow metal has climbed 6 %after touching a four-year low on Nov. 7 amid increased demand for coins and jewelry, combined with signs that nations are boosting reserves. Central banks may raise purchases by as much as 22 % in 2014, the World Gold Council estimates.

Gold futures for December delivery climbed 0.6 %to settle at $1,197.70 an ounce on the Comex in New York. Earlier, the price reached $1,207.60, the highest for a most-active contract since Oct. 30. The metal rose 1 % this week.

China rates cut

China’s one-year deposit rate was lowered by 0.25 percentage point to 2.75 %, while the one-year lending rate was reduced by 0.4 percentage point to 5.6 %, effective today.

Gold climbed 70 % from December 2008 to June 2011 as the Federal Reserve bought debt and held US borrowing costs near zero percent in a bid to shore up economic growth. Buying accelerated after the financial crisis spurred global central banks to increase money supplies.

Japan Stimulus

The rate reduction puts China on the side of the European Central Bank and Bank of Japan in deploying fresh stimulus and contrasts with the Fed, which stopped quantitative easing.

In 2014, gold has dropped 0.4 %. The metal in 2013 tumbled 28 %, ending a 12-year bull run. A second straight annual drop would mark the longest slump since 1998.

market times, market times tv


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NCDEX stocks position on 21 November

22 November 2014

Stocks of different commodities on NCDEX on 21 November at a glance…

NCDEX stocks on 21 November

Commodities

 

Warehouses

Stocks (tons)

Castor seed

 

Bhabhar

1199

Tons

   

Deesa

27473

Tons

   

Kadi

66455

Tons

   

Patan

66225

Tons

 

Total

 

161352

Total

Chana

 

Bikaner

14268

Tons

   

Delhi

17595

Tons

   

Indore

5,416

Tons

 

Total

 

37279

Tons

Coriander

 

Kota

60

Tons

   

Gondal

10

Tons

   

Jaipur

40

Tons

   

Baran

259

Tons

   

Kota

1882

Tons

   

Ramganj Mandi

848

Tons

 

Total

 

3099

Tons

Gold

 

Ahmedabad

2

Kg

 

Total

 

2

Kg

gold100 gm

 

Hyderabad

600gm

gm

 

Total

 

600gm

gm

guargum

 

Jodhpur

5672

Tons

   

Bikaner

881

Tons

   

Nokha

345

Tons

   

Sringanganagar

259

Tons

 

Total

 

7157

Tons

Guarseed 10

 

Deesa

376

Tons

   

Sriganganagar

4108

Tons

   

Bikaner

6606

     

Jodhpur

507

     

नोखा

20

   

Total

 

11617

Tons

Cumin seed

Old cumin

Jodhpur

6

Tons

 

Old cumin

Unjha

306

Tons

 

New cumin

Jodhpur

212

   

New cumin

Unjha

504

   

Total

 

1028

Tons

Maize

 

Delhi

3959

Tons

   

Gulabbag

12927

Tons

   

Sangli

201

Tons

 

Total

 

17087

Tons

Mustard

 

Alwar

221

Tons

   

Bharatpur

0

Tons

   

Bikaner

394

Tons

   

Hapur

30

Tons

   

Jaipur

684

Tons

   

Kota

1012

Tons

   

Sriganganagar

209

Tons

 

Total

 

2,550

Tons

Soybeans

 

Indore

7,623

Tons

   

Kota

2,249

     

Akola

331

     

Itarasi

30

     

Mansaur

149

     

Vidisha

380

     

Total

10,762

Tons

Sugar

 

Kolhapur

969

Tons

Turmeric

       

Turmeric selam

 

Irode

10

Tons

Desi chupa

 

Sangli

50

Tons

Turmeric

 

Nizamabad

0

Tons

Turmeric Nizamabad

 

Nizamabad

2120

Tons

Turmeric Rajapur

 

Sangli

 

Tons

 

Total

 

2180

Tons

Barley

 

Sriganganagar

 

Tons

 

Total

   

tons

         

Wheat

 

Kota

5764

Tons

 

Total

 

5764

Tons

Bajra

 

Alwar

20

Tons

 

कुल

 

20

Tons

market times, market times tv


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Govt. to drop subsidy on LPG for rich people

22 November 2014

Rich people will not get subsidized LPG cylinder and they will have to pay full market price as government is to take decision in this regard. The Finance Minister, Arun Jaitley said on Friday, “The next important decision India will have to take is whether people like me are entitled to get subsidy on LPG.”

 The Finance Minister gave the indication that decision in this concern will be taken soon.  

Presently, every household gets 12 cooking gas cylinders at subsidized rate in a year. Subsidized price of a cylinder in Delhi is Rs. 414 and without subsidy it costs at Rs. 880.

market times, market times tv


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Soybean surges on interest-rate cuts will spur economic

22 November 2014

Soybean surged the most in a week on speculation that global interest-rate cuts will spur economic growth and food demand.

A measure of global equities advanced to the highest in two months after China trimmed benchmark rates for the first time since July 2012. The nation is the world’s top oilseed consumer. European Central Bank President Mario Draghi strengthened a stimulus pledge. US harvests of corn and soybeans will rise to records this year, the government said last week.

Soybean futures for January delivery rose 1.8 percent to close at $10.39 bushel on the Chicago Board of Trade, the biggest gain since Nov. 11. The oilseed, used to make animal feed and cooking oil, rose 1.6 percent this week.

Wheat futures for March delivery advanced 0.2 % to $5.535 a bushel, paring this week’s decline to 1.6 %.

market times, market times tv


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Live Video

MANDI/SPOT PRICE

Gold(Mumbai) 26,980 [+270] Gold(Delhi) 27,100 [+270] Gold(Chennai) 27,050 [+260Gold(Jaipur) 26,850 [+200] Silver(Delhi) 39,190 [+330] Silver(Mumbai) 39,190 [+330] Silver(Chennai) 39,190 [+330] Silver(Jaipur) 39,500 [+900] Chana(Rajkot) 2,550 [00Chana(Bikaner) 2,651 [+18] Dhaniya(Rajkot) 9,750 [+250] Jeera(Rajkot) 9,000 [00] Mustard Seed(Rajkot) 3,000 [00] Maize(Rajkot) 1,325 [-25] Wheat(Rajkot) 1,500 [-25] Wheat(Indore) 1,480 [00] Guar Seed(Bikaner) 5,537 [+228]

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The government had brought norms under 80:20 scheme to discourage gold import but it proved less

Prices of paddy slashed in the Mandi located at Nazafgarh in Delhi. Paddy quality 1121 fell Rs.200

The government had brought norms under 80:20 scheme to discourage gold import but it proved less



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