Commodity

MCX launches cotton seed wash oil futures, offers cash-settled contracts

Leading commodity bourse MCX on Tuesday announced the launch of cotton seed wash oil futures. Each contract will have a trading unit of 5 tonne with a base value quoted in Rupee per 10 kg at Ex-Tank Kadi, Gujarat, MCX said in a statement. The margin requirement for entering into the contract is approximately 12 per cent, providing participants with affordable access to hedging. Contracts will be cash-settled, providing greater convenience and efficient opportunity for risk management for participants across the supply chain, the statement added. According to MCX, the futures trading in cotton seed wash oil will help the cottonseed oil industry, particularly the crushers, who often grapple with price volatility due to fluctuating market dynamics, raw material availability, and unpredictable international trend.

Commodity major Hindustan Zinc offer for sale gets bids for Rs 3,150 crore

Promoter less than half of what Vedanta was eyeing

Govt proposes mandatory labelling for bulk pre-packaged commodities

The Consumer Affairs Ministry on Sunday proposed an amendment to the Legal Metrology (Packaged Commodities) Rules, 2011, seeking to mandate the declaration of key information on pre-packaged commodities weighing over 25 kg or measuring more than 25 litres sold in retail markets. The move aims to close a loophole that currently exempts such bulk packages from displaying crucial details like maximum retail price (MRP), best before date, manufacturer information, and country of origin. "It is observed that packaged commodities above 25 kg are also available in the market for retail sale, which is not as per the intention to make all declarations on pre-packaged commodities meant for retail sale," the ministry said in a statement. The proposed amendment would require manufacturers, packers, and importers to provide comprehensive labelling on all pre-packaged goods intended for retail sale, regardless of quantity. This is expected to bring clarity to the industry and aid consumers in ..

Large food firms start biting back to win market share from smaller players

Small players typically enter the market when the commodity cycle enters into a downward territory and offer stiff competition to larger players with similar offerings at lower prices

Limited downside seen in Silver, support placed at Rs 93,100: Sharekhan

COMEX silver inventory fell from 299.04 Moz to 298.46 MOz and remains at the highest level since January 2023

Hawkish Fed may drag Silver towards Rs 88,500; here's your trading guide

Silver at $30.12 was down over 2 per cent at the time of MCX closing as the corresponding MCX July contract at Rs 90305 was down 2.91 per cent on the day

Should you buy gold now? Check key levels here before investing your money

The downside pressure on gold further intensified on Thursday on better-than-expected S&P US Global manufacturing and services PMI data

Volume growth, softer commodity prices to drive Q4 margins of auto firms

26% volume growth seen in two-wheelers and 12% in passenger vehicles

Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Commodity major's stock has hit its highest level since February 2023

Govt panel backs higher carbon tax on coal imports to limit polluting fuel

Coal is among India's top five commodity imports by value. Despite surging domestic production, mainly of low-quality coal with high ash content

'Govt looking at developing HSN codes for certain varieties of rice'

The government is contemplating to develop new HSN codes for certain rice varieties to enable exports of those which are traditionally not consumed by the people in the country, a senior official said on Tuesday. At present, all categories of non-basmati white rice are banned for exports. According to a presentation of the Agricultural & Processed Food Products Export Development Authority (APEDA), they are working on separate HSN codes for GI (Geographical Indications) rice varieties like Red rice, Black rice and Kalanamak rice. In international trade parlance, every product is categorised under an HSN code (Harmonised System of Nomenclature). It helps in the systematic classification of goods across the globe. Rajesh Agarwal, Additional Secretary in the commerce ministry, said that non-basmati rice has about 40-50 varieties and when the government bans the export of that, all the varieties such as Sona Masuri, Govind bhog, Kalanamak, or normal white non-basmati rice get ...

SGB scheme: Final redemption price for 1st tranche set at Rs 6,132 a unit

The interest on the Gold Bonds commences from the date of its issue, which has a fixed rate of interest at 2.75 per cent per annum on the amount of initial investment

Credit quality of export, commodity-linked sectors to face pressure: Crisil

Rating upgrades outpace downgrades in H1FY24

Nearby Brent crude contract spread hits 2023 high on tight supply

Brent, which is used to price more than three-quarters of the world's traded oil, has been rising since late June, as leading producer Saudi Arabia spearheaded output cuts

FMCG cos push cart of margin worries made heavy by commodity cost pick-up

A subpar monsoon in one year is unlikely to cause a meaningful dent in major cereal production, a spike in inflation, or a deceleration in FMCG growth, says IIFL Research

Hindustan Zinc will ramp up production of zinc to 1.5 mn tonnes: Chairman

Hindustan Zinc Ltd will ramp up production of zinc - that is used in batteries to medicines - to 1.5 million tonnes, chairperson Priya Agarwal Hebbar said on Thursday as she looked to make India's largest zinc producer as one of the best firms in the world. Speaking at the company's annual shareholders meeting, she said when the economic history of 21st-century India is written, the turnaround story of Hindustan Zinc will have a chapter of its own. Incorporated as a public sector firm in 1996, the Atal Bihari Vajpayee-led NDA government in August 2002 sold a controlling stake in the firm to Vedanta group firm Sterlite Industries for around Rs 769 crore. Hindustan Zinc is today the second largest zinc-lead miner in the world after Swiss firm Glencore and the fourth largest zinc-lead smelter globally. It has now also broken into the top 10 list of silver producers in the world. The profitability has grown manyfold and so has its production capacity of zinc, lead and silver - from 0.2

Sebi tweaks method for calculating Settlement Guarantee Fund in commodity

Capital markets regulator Sebi on Tuesday revised the methodology for clearing corporations with regard to computation of core Settlement Guarantee Fund corpus in commodity derivatives segment. A core Settlement Guarantee Fund (SGF) is a corpus used for settlement of trades during defaults and all intermediaries -- stock exchanges, clearing corporations and brokers -- contribute towards it. Sebi received representations from clearing corporations that in light of the turnover and the open interest observed at the stock exchanges in the recent times, the target corpus level prescribed in 2018 need to be reviewed and methodology for computation of core SGF corpus in commodity derivatives segment. In its circular, the regulator said that the clearing corporations in commodity derivatives segment can now align their core SGF in terms of its framework issued in August 2014 and July 2018 and excess contribution may be returned to the contributing stakeholders on a pro-rata basis, after ..

Sebi allows FPIs direct mkt access to exchange traded commodity derivatives

Capital markets regulator Sebi on Wednesday allowed stock exchanges to extend direct market access facility to foreign portfolio investors (FPIs) for participation in Exchange Traded Commodity Derivatives (ETCDs). The new provision would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. Direct Market Access (DMA) facilitates the clients of a broker to directly access the exchange trading system through the broker's infrastructure to place orders without manual intervention by the broker. Also, DMA provides certain advantages to brokers such as direct control over orders, faster execution of orders, reduced risk of errors associated with manual order entry, maintaining confidentiality, lower impact costs for large orders and implementing better hedging and arbitrage strategies. "Based on representations received for enabling DMA facility to FPIs in ETCDs and deliberations by Commodity Derivatives Advisory Committee (CDAC) o

Rural demand has come back, but El Nino a worry: Adani Wilmar MD & CEO, CFO

'In the commodity business, it is volume that matters. We have grown 16 per cent annually'

Sugar rush: Ex-mill prices up nearly Rs 150-200 per quintal in a month

Concerns about low output behind the uptick; retail prices may remain flat