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| June 28, 2007 | | Horticulture varsity in AP
Yet another feather in Andhra Pradesh's crown. The state is all set to get an exclusive horticulture university.
JSW Steel bags big success in carbon credits
India's JSW Steel has been awarded more than 5.4 million carbon credits, including four million carbon credits in the single largest issuance of emissions permits to a Kyoto Protocol project, by the United Nations.
India's bumper sugar worries global market
India's bumper sugar production has caused ripples in the global market with other producers wondering whether the Indian commodity will reach their export markets in the world.
India readies plan to lift food output
India has drawn up big plans to increase its production of basic food items to reduce its costly imports.
Double whammy for cardamom growers
It is double whammy for cardamom growers in Kerala's Idukki district this year.
Coffee production down in India
Coffee production in India is likley to come down for the 2006-07, even as the government is taking initiatives to boost to the troubled coffee industry.
A journey towards 'evergreen revolution'
The term 'Green Revolution' was firstly used by the American scientist William Gaud to denote higher productivity by the more efficient functioning of green plants.
Industry for ban on rubber futures
Rubber futures trading has further invited flak from natural rubber producers and consumers in the country.
'China discriminates India'
India's guar gum exporters are facing discrimination in the Chinese market with the Dragon country allowing duty exemptions to the commodity coming from Pakistan.
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| June 25, 2007 | | WTO talks collapse: India refuses to budge
Chance of an accord in global trade talks suffered another setback following India's Union minister Kamal Nath terated that the country will not compromise on its stand on agriculture market access in the WTO's Doha round of talks.
ETFs: Some interesting facts
Funds collected by the mutual fund will be invested in gold and hence the net asset value of the ETF will be largely dependent upon price of gold minus the administrative costs of the AMC and the mutual fund.
Gold: Some glittering facts
One of the world's rarest and most sought after collector coins, the 1933 Double Eagle, was sold at Sotheby's auction house in New York on Tuesday July 30, 2002 for the record sum of $7.59 million.
No nod for GM food crop trials
The field trials of GM crops, which was on the agenda for the discussion included six Bt rice hybrids, three Bt okra hybrids, two GM corn crops, eight Bt eggplant hybrids.
Is India ready for electricity futures?
Electricity lends itself to futures trading. It meets the three broad criteria needed for successful futures markets: prices are volatile; there is a large, diverse universe of buyers and sellers; and the physical product is fungible.
Green pesticide to meet Mealybug challenge
The Ahmedabad-based maxEEma Biotech has announced the launch of a herbal insecticide that effectively combats Mealybug attacks on crops.
10 new crop varieties released in TN
In an effort to boost agri sector, the Tamil Nadu Agricultural University in Coimbatore has released 10 new crops for 2007.
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| June 21, 2007 | | 'Tea Cola' to replace mineral water?
A group of Indian scientists have developed an exotic health drink and pill from tea extract, which they claim will help quench thirst and can replace traditional bottles of water canes.
Pepper traders cry foul over FMC's new rules
Forward Market Commission's recent introduction of two rules to rein in highly volatile pepper market has come in for serious criticism from traders and farmers alike.
NCDEX to connect farmers to futures trading
India's largest agri commodity exchange -- the National Commodities and Derivatives Exchange says is chalking out several projects to connect farmers with online futures trading in commodities.
Gaping holes in measuring inflation
Economists V Shunmugam and D G Prasad working with India's largest commodity bourse -- the Multi Commodity Exchange -- have come out with a research paper arguing that the government urgently needs to shift the method of calculating inflation.
Exchanges bullish on bullion, metals and energy
Declining volumes in agriculture commodities are prompting the commodity bourses to aggressively focus on futures trading in bullion, metals and energy products.
Diamond industry cheers rising Re
India's exporters may be hard hit by the appreciation of rupee against dollar. But the rising value of rupee has cheered the diamond industry in the country.
Bullion, energy futures to see entry of FIIs, MFs
It seems time has come for foreign institutional investors and mutual funds to trade in bullion and energy Futures on commodity exchanges in India.
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| June 18, 2007 | | India's biotech export touches $1.2 billion
India's export revenue from biotechnology grew by 47 per cent to reach to 1.2 billion dollars in the financial year ended March 2007, a survey said.
Spices markets to see temporary slump
Spices Futures market is heading south and the trend is expected to continue for sometime from now.
Special: Futures in India to take a big leap
A section of politicians want futures trading in commodities banned. But experts say futures market is essential for India to catch up with the rest of the world. A heated debate is on in the booming commodity futures market.
Cabinet to okay FDI in commodity bourses
The stage is set for foreign investors to invest in India's commodity exchanges. The Manmohan Singh Cabinet will give formal approval this week on allowing foreign investment in commodity exchanges.
Are we ready for Carbon trading?
Carbon credits are a tradable permit scheme. They provide a way to reduce greenhouse gas emissions by giving them a monetary value.
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| June 15, 2007 | | STC to float wheat import tender soon
In an effort to rein in inflation, the State Trading Corporation is likely to float a tender to import up to 2 million tonnes of wheat this month.
Indian rice to cost more in global market
Strengthening of rupee has made Indian rice dearer in the international market
Gujarat's kesar mangoes head for US
Gujarat's mango growers are a happy lot today. Their produce, Kesar mangoes, are leaving Indian shores to conquer American palate on Thursday.
FMC says 'no' to cement futures
Commodity market regulator Forward Markets Commission may not allow futures trading in cement.
Gold prices down
Finally, gold prices have started heading south this week. Prices of yellow metal tumbled to an eight-month low of Rs 8,600 per 10 gm
BSE to pick up 26% pie in NMCE
The Bombay Stock Exchange is set to pick up 26 per cent stake in India's first demutualised online multi commodity exchange the National Multi-Commodity Exchange.
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| June 13, 2007 | | What is 'stop loss'?
Stop loss is a vexatious word among traders in commodity and capital markets.
Taj Mahal launches low glycemic rice in India
Eyeing diabetics and health conscious people, Taj Mahal Agro Industries Pvt Ltd recently launched a low glycemic rice brand - Moolgiri.
Shrimp exporters await WTO decision
India's shrimp exporters heaved a sigh of relief last week following the decision of World Trade Organisation's anti-dumping panel to set July 24 as the deadline for the final hearing on the issue.
MCX to launch futures in raw jute
India's largest commodity bourse - the multi commodity exchange - will launch futures trading in raw jute soon.
Futures trading in diamonds soon
The US Commodity Futures Trading Commission is considering a proposal from the Rapaport Group to start the world's first diamond-futures contracts.
Gas for fertiliser units to cost more from July
The prices of natural gas for power and fertiliser units are likely to be raised by 12.5 per cent to Rs 3,600 per thousand cubic metres in July, according to oil secretary M.S.Srinivasan.
Chilli is not hot any more
Chilli is no more a hot commodity following the arrival of rains and lack of demand during the monsoon season and the trend is expected to continue for another five months.
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| June 12, 2007 | | Farm prices remain stable
Farm commodity prices monitored by the Department of Consumer Affairs have generally remained steady or have shown mixed trend in different centers across the country in the week ending June 5.
NMCE launches new series in Soya, Guar, Chana
The National Multi-Commodity Exchange NMCE on Tuesday launched a new series in Soya oil, Guar seed and Chana desi for futures contracts.
Fimi objects to steel firms' iron ore deals
The Federation of Indian Mineral Industries has strongly objected to Indian steel companies' policy of selling surplus iron ore in the domestic market and crying for a ban on iron ore export to meet shortage of the commodity.
Oil price may surge to $80 a barrel
Oil prices this year could surge up to $80 a barrel due to the increasing demand for the gasoline and disruptions in crude supplies from Nigeria, said a senior Iranian oil official.
Gujarat and the history of futures
Saurashtra in Gujarat boasts of being the cradle of Futures trading in India. Certainly, the Gujarati business acumen played a big role in the rise of futures trade in Saurashtra and other parts of the state.
Monsoon may be late in Mumbai
Mumbai will have to wait for a few more days for monsoon showers.
Sugar body calls for export push
The Indian government's decision to build 4 to 5 million tonnes of buffer stock of sugar has not gone well with the sugar industry.
Corruption rendering PDS ineffective
What is ailing India's Public Distribution System (PDS)? "Corruption" is the one and only answer to that question.
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| June 11, 2007 | | Wind Power, go get it in Gujarat
With largest coastal line in the country, wind is a commodity freely available in Gujarat. And free is a word very common in the state -- in retail and wholesale.
Spices Park in Madhya Pradesh
The park, to be set up at a cost of Rs 9.95 crore (Rs 99.5 million), will provide facilities for dehydration of garlic products, coriander leaf, green chilly extracts, turmeric and other medicinal herbs.
Punjab to promote basmati contract farming
The Punjab government has chalked out plans to promote contract farming of basmati and other long grain varieties of paddy, over 26,000 acres of land in 12 districts of the state.
Textile industry in doldrums
Many of the spinning mills in Tamil Nadu are facing closure and several mills have curtailed production as against the usual practice of working 24/7 round the year.
No sale of Dabhol power plant
New Delhi The government has decided not to sell the Dabhol power plant, which has been struggling thanks to huge debts it owes to the contractors.
MCX: World's 3rd largest bullion exchange
India's largest commodity bourse -- the Multi-Commodity Exchange -- has emerged as the world's third largest bullion exchange after NYMEX and TOCOM.
How to minimise risk in commodity futures market
Talking during the India Investment Show organised by myiris.com in association with ICICI Direct, Chiragra Chakrabarty, head of training, Research and Development, Multi Commodity Exchange, said the commodity market has huge volatility.
How India is emerging as Asian powerhouse
Minister of Commerce and Industry Kamal Nath has said that the country is an emerging Asian powerhouse, as India has recorded the fastest gross domestic product growth in 18 years.
Bumper production subdues sugar prices
Price-wise sugar is going to taste sweet to consumers and bitter to the farmers in coming months in Gujarat as its prices are likely to remain subdued in near future following bumper production expected this year, according to leading market players.
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| June 08, 2007 | | What is Common Fund for Commodities
The Common Fund for Commodities is an inter-governmental financial institution established within the framework of the United Nations. The fund's specific mandate is to support developing countries that are commodity dependent.
How much gold is there in the world?
Gold is considered one of the most precious metals in the world; and it has been used as a symbol for purity, value and royalty. But do you know much gold is there in the world? And who owns most gold? If not, read on. . .
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| June 07, 2007 | | How India calculates inflation
India uses the Wholesale Price Index (WPI) to calculate and then decide the inflation rate in the economy. Most developed countries use the Consumer Price Index (CPI) to calculate inflation.
Jignesh Shah on how he built MCX
Shah, the forty-year-old managing director and CEO of Multi Commodity Exchange speaks about how he created this empire in a decade.
Oilmeal exports decline in May
Oilmeal export declined in May sharply, according to data compiled by the Solvent Extractors' Association of India (SEA).
Farmers should participate in futures market: FMC
Commodity markets regulator Forward Markets Commission's new chairman B C Khatua has called for the participation of farmers and non-governmental organizations (NGOs) in the futures market.
Ensure quality of wheat exports: India to US
The Indian government has asked the United States Administration to ensure that American millers meet strict quality norms to the wheat to be imported to India.
India seeks greater agro trade with UAE
India on Wednesday sought greater trade with the United Arab Emirates (UAE) in agro products.
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| June 06, 2007 | | Spot exchange starts trading in mangoes
The Safal National Exchange, an on-line spot exchange based in Bangalore has begun online spot trading in mangoes.
Indian investment zooms in Brazil
Brazil has emerged as India's largest trading partner in Latin America with bilateral trade crossing the record $ 2 billion mark in 2006
India to export raw sugar to Dubai
India is all set to export raw sugar for the first time. The Indian Sugar Exim Corporation has signed a deal with Al Khaleej refinery of Dubai to export raw sugar.
FMC chairman B C Khatua on futures market
B C Khatua, the new chairman of India's apex commodity markets regulator Forward Markets Commission has strong views on how the futures market should function in the country.
'Bright prospects for futures market'
The newly appointed chairman of the Forward Markets Commission says futures market is in for a healthy growth in India and existing powers of the apex commodities regulator can be effectively used to regulate commodity markets.
Thirst for probiotic drinks rising in India
As India's younger generation becomes more and more health conscious, consumption of healthy drinks particularly probiotic products are growing rapidly.
'Rubber' fencing on Indo-Bangla border
Soon, rubber fencing might come up along the Indo-Bangladesh border.
Indian spices may get GI status
What are the links between the green cardamom from Coorg, sannam chillies from Guntur, malabar pepper from Kerala?
Plan to boost cultivation of 'neglected spices'
The spices board is chalking out plans to enhance the cultivation of certain spices that have been neglected so far. The spices include mint, chilli, cumin, coriander, fennel and saffron.
Spices board to launch retail business
India's spices board has decided to float a new company to market spices across the country and abroad.
Uncertainty dogs gold hallmarking
The government's move to make hallmarking for gold mandatory from January 1, 2008 has got into bottlenecks thanks to lukewarm response from jewelers across the country.
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| June 05, 2007 | | What is geographical indication?
A geographical indication is a sign used on goods that have a specific geographical origin and possess qualities or a reputation that are due to that place of origin.
Climate change and its impact on India
Climate change will make monsoons unpredictable; as a result, rain-fed wheat cultivation in South Asia will suffer in a big way and the total cereal production will go down.
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| June 04, 2007 | | Tata Coffee to launch beverage retailing
Tata Coffee Ltd has chalked out plans to enter into the beverage retailing business and a pilot project on this is being carried out in southern India.
'Melting Ice: A Hot Topic'
Countires across the globe celebrate World Environment Day on June 5. And the theme this year is 'Melting Ice – a Hot Topic.'
India eyes sugar export to EU
Falling sugar production in the European countries would provide an excellent opportunity for Indian sugar exports to the European Union market, says a top government official.
Edible oil duty cut: Foreign suppliers benefit
India may be the world's largest edible oil importer and consumer; but the import duty cut on edible oils that the government announced recently is helping the foreign suppliers, not the Indian farmers.
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| June 02, 2007 | | India's cotton production to go up
India's cotton production in 2007-08 is set to go up thanks to the rising use of genetically modified seeds of the crop.
Edible oil futures prices go up
Prices of refined soya oil and edible oil seeds have gone up on India's commodity exchanges thanks to strong movement in edible oil future prices in the international market.
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