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Thursday, March 03, 2005

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AGRI-BIZ & COMMODITIES

RICE


Delay in procurement of paddy — Achuthanandan to launch indefinite fast next week
THE Leader of the Opposition, Mr V.S. Achuthanandan, has announced that he would launch an indefinite fast inside the State Assembly from March 9 to protest the delay in procurement of paddy from farmers. The announcement came even as the ... More

ANTI-DUMPING


Govt slaps safeguard duty on tapioca starch
SAFEGUARD duty has been recommended on import of tapioca starch for three years to protect the domestic industry against hurting imports. In a notification dated February 16, the Director-General(Safeguards) has recommended 33 per cent ... More

COMMODITIES


Canara Bank to expand commodities exposure
CANARA Bank, in a major initiative to increase exposure to the growing commodity sector, has entered into a memorandum of understanding (MoU) with National Collateral Management Services Ltd (NCMSL), a Mumbai-based company offering risk ... More

RUBBER


Pala Marketing Society to expand block rubber capacity
PALA Marketing Co-Operative Society, one of the largest co-operatives in South India, has embarked upon a project to expand its block rubber manufacturing facility for nearly tripling its output. "We now have an annual capacity to produce 4,500 ... More

Rubber prices rally on short-covering
DISCOUNTING negative factors, spot rubber prices rallied on Wednesday. Major grades improved on short covering and fresh buying from the covering groups and purchase agents. Market players expect that the Government will reduce the tax on ... More

TEA


Tea industry may save on levy cut
COONOOR: The abolition of the additional excise duty (AED) in the Union Budget will mean a saving of around Rs 65 crore to the tea industry annually, according to Mr T. Rangaiah, former Vice-Chairman of Tea Board. In the last two years, ... More

Upasi plea to do away with division of lots in e-auction
THE United Planters' Association of Southern India (Upasi) has appealed to the Union Minister for Commerce and Industry, Mr Kamal Nath to do away with `division of lots' when the South Indian auction centres go 100 per cent electronic. The ... More

PRECIOUS METALS


`Gold fund cost-effective saving'
MUMBAI: By offering gold-backed investment products like the Gold Exchange Traded Fund (GETF), investors will get the opportunity of saving in gold in a more cost-effective and convenient way through the banks and mutual fund sector, ... More

COTTON


Low cotton prices spur consumption
RECORD production in 2004-05, now further revised upwards to a new high of 25.4 million tonnes (mt) - 23 per cent or 4.8 mt more than previous season) - is expected to outpace consumption by 2.6 mt, causing world ending stocks to rise to ... More

OILSEEDS & EDIBLE OIL


PALM OIL PRICE OUTLOOK 2005
Vegoil market awaiting clear direction
A day ahead of the much-awaited Palm Oil Price Outlook 2005 conference here, the mood among players in the vegetable oil market is upbeat with a tinge of nervousness because of the recent turn of events. Despite the current demand-supply ... More

CASHEW


Cashew exports may top Rs 2,500 crore
IF the current upward trend in the export of cashew kernels is any indication, total exports during the current fiscal are likely to cross Rs 2500 crore. There has been a substantial increase both in volume, due to increase in demand, and value ... More

AGRICULTURAL POLICY


Prices of agri commodities in AP well above MSP
THE prevailing prices of paddy, jowar, bajra, pulses, oilseeds, groundnut and soyabean in various markets across Andhra Pradesh are higher than the minimum support price (MSP) fixed by the Union Government for the year 2004-05. On the other ... More


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