Commodities snapped a two-day decline as the outlook for increased demand from emerging markets prompted speculation that this month’s selloff was excessive. The Standard & Poor’s GSCI Index of 24 raw materials rose as much as 1.15%, the most since May 13, to 680.07, and was at 679.31 at 1:08 pm in Singapore. The index fell 10% this month after touching the highest level since 2008 on April 11. Zinc on the London Metal Exchange jumped as much as 3.2% to $2,158.75 per tonne and silver futures climbed 2.6% to $34.39 an ounce. Crude also gained. Investment spending in emerging markets is outpacing expenditures in developed economies for the first time as a surge in infrastructure supports global growth and profits. Bulls say the expanding economy, led by China, India and Brazil, is raising demand at a time when producers from mining industry leader BHP Billiton to oil company BP can’t...

: Oil rebounded more than $1 on Wednesday, after two straight sessions of declines, as a surprise drop in gasoline stocks allayed concerns about weaker demand ahead of the peak summer driving season. Prices were also supported by a softer dollar, but sovereign debt problems in Europe and weak U.S. economic data from the United States kept investors on the edge. Brent crude for July was up 61 cents at $110.60 a barrel, after hitting an intra-day high of $111.08. US crude futures gained 82 cents at $97.73 a barrel, after rising to as high as $98.00 earlier, up from a 12-week settlement low at $96.91 on Tuesday. It has been a severe correction since two weeks ago after the dollar rebounded and the ECB didn't raise interest rates, said Tony Nunan, a Tokyo-based risk manager at Mitsubishi. NYMEX has twice rebounded above $95, maybe the correction has run its course. Technical charts indicate short-term bullish...

Oil traded close to a one-week high in New York as flooding of the Mississippi River stoked speculation fuel output will be disrupted and amid optimism over the U.S. economic recovery. Futures were little changed after advancing 1.3% yesterday as the flood moved south from Memphis, threatening refineries and shipping traffic before it empties into the Gulf of Mexico in about two weeks. U.S. equities strengthened as companies raised earnings forecasts, sending the Standard & Poor’s 500 Index higher for a third day. “The flood is impacting supply and will continue to put upward pressure on prices,” said Phil Flynn, vice president of research at PFGBest in Chicago. Crude for June delivery was at $104.06 a barrel, up 18 cents, or 0.2%, in electronic trading on the New York Mercantile Exchange at 9:10 a.m. Sydney time. Yesterday, the contract rose $1.33 to $103.88, the highest settlement since May 4. Prices are 36% higher the past year. Brent crude for June settlement rose $1.73, or 1.5%, to $117.63 a barrel on the London-based ICE Futures Europe exchange yesterday, the highest settlement since May 4. The European benchmark traded at a premium of $13.75 a barrel to U.S. futures yesterday. The difference between front- month contracts in London and New York surged to a record $19.54 on Feb. 21. It averaged 76 cents last year. Mississippi Flood Valero Energy Corp., the largest U.S. refiner, reduced operations at its Memphis plant to between 80% and 85% of capacity because of flooding, according to people familiar with operation. The plant has a capacity of 195,000 barrels a day. Gasoline futures climbed 3.1% as the rising waters threatened refineries and shipping. A total of 11 plants, accounting for 13% of U.S. fuel output, are located between New Orleans and Baton Rouge, according to Lipow Oil Associates LLC in Houston. The S&P 500 gained 0.8% after Dean Foods Co., the largest U.S. milk processor, beat analysts’ earnings estimates and Microsoft Corp. agreed to buy Skype Technologies SA for $8.5 billion, bolstering confidence in the economic recovery. The most-active oil option was the July $115 call, which gives investors the right to buy crude for July delivery at $115 a barrel. The contract rose 15% to $1.44 after more than doubling on May 9. Inventories Rising Crude fell from its intraday high after the industry-funded American Petroleum Institute reported that U.S. crude stockpiles climbed 2.95 million barrels last week to 367.2 million. An Energy Department report today may show supplies rose 1.5 million barrels, a Bloomberg News survey of analysts shows. Oil-supply totals from the API and Energy Department moved in the same direction 75% of the time in the past four years, according to data compiled by Bloomberg. Crude has climbed 14% in New York this year as unrest in the Middle East and North Africa toppled leaders in Tunisia and Egypt and spread to Libya, Algeria, Bahrain, Iran, Syria and Yemen. North Atlantic Treaty Organization jets intensified strikes on the Libyan capital of Tripoli, including what the alliance identified as “command-and-control” bunkers from which Muammar Qaddafi is carrying out a campaign against rebels.

Silver futures tumbled, capping the biggest three-day slump in 28 years, as increases in Comex margins spurred investor sales. Gold declined after a report that Soros Fund Management LLC may have cut metal holdings. CME Group Ltd, Comex’s owner, raised the minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures to $16,200 per contract from $14,513 as of the close of business yesterday, the second increase in less than a week. A year ago, the margin was $4,250. In the four months ended April 30, silver surged 57%. “Silver shot way above its fundamentals,” said Adam Klopfenstein, Senior Strategist at Lind-Waldock, a broker in Chicago. “Unless you are a well-heeled investor, it now takes a lot more capital to participate in trading. Speculative fever has been taken out of the market.” Silver futures for July delivery plunged $3.197, or 7.5%, to close at $39.388 an ounce at 1:48 p.m. on the Comex in New York. In three days, the price plummeted 19%, the most since March 1983. On April 25, silver reached $49.845. The price climbed to a record $50.35 in January 1980 as the Hunt Brothers tried to corner the market. Gold futures for June delivery fell $25.10, or 1.6%, to $1,515.30 an ounce, the biggest drop since March 15. The price has declined 2.7% in two days. On May 2, the metal rose to a record $1,577.40. The commodity has gained 30% in the past year. Central Banks Central banks in Mexico, Russia and Thailand added gold to their reserves in February and March as the dollar slumped against major currencies. International Monetary Fund data showed that Mexico bought 93.3 metric tons since January, adding to holdings of about 6.9 tons. In March, Russia increased reserves by 18.8 tons to 811.1 tons, and Thailand expanded assets by 9.3 tons to 108.9 tons. Palladium and platinum also dropped the most in seven weeks. On the New York Mercantile Exchange, palladium futures for June delivery fell $35.70, or 4.6%, to $746.70 an ounce. Platinum futures for July delivery slumped $34.20, or 1.8%, to $1,826.30 an ounce. The declines were the biggest since March 15. Palladium has gained 45% in the past 12 months, and platinum is up 8.3%.

commodity General News Palm oil slips (06-May-2011 , 10:28 Hours IST) Palm oil fell for the second day tracking declines in soyabeans, which fell on speculation that persistent rains in the growing regions in the US will encourage farmers to plant more of the oil seed than corn. The July delivery contract declined 1.1 per cent to 3,229 ringgit ($1,076) a tonne on the Malaysia Derivatives Exchange. Powered by Capital Market - Live News

Commodity General News Spot rubber prices decline (06-May-2011 , 10:34 Hours IST) The physical rubber prices declined on Thursday (05 May 2011). The market seemed to be reacting closely to the declines in domestic futures, which hit the lower circuit on the NMCE. Sheet rubber surrendered to Rs 227.50 (232.50) a kg. The May series nose dived to Rs 221.90 (230.52), June to Rs 227.30 (235.47), July to Rs 230 (237.61), August to Rs 227.50 (233.18), and September to Rs 225 (228.70) a kg for RSS 4 on the National Multi Commodity Exchange (NMCE). Spot rates were (Rs/kg): RSS-4: 227.50 (232.50); RSS-5: 225.50 (230); ungraded: 221.50 (227.50); ISNR 20: 220 (222) and latex 60 per cent: 141 (142). Powered by Capital Market - Live News

Commodity General News Castor futures trade lower (05-May-2011 , 10:09 Hours IST) On Wednesday (04 May 2011), the castor futures traded lower as market participants continue to sell on the back of weak exporters' and stockists' demand and higher arrival. Castor June contract at Rajkot Commodity Exchange (RCX) fell down by Rs 95 to Rs 4,731 per quintal. RCX spot castor price was down by Rs 25 to Rs 4,565 from Rs 4,590 per quintal. At National Commodity and Derivatives Exchange (NCDEX), castor May contract declined Rs 73 or 1.5 per cent to Rs 4,788 per quintal. NCDEX June contract slid by Rs 88.50 to Rs 4,847.50. On Ahmedabad Commodity Exchange (ACE), castor for May delivery came down from Rs 4,861 to Rs 4,790 and June contract dropped by Rs 90 to Rs 4,850 a quintal. ACE spot castor, however, increased by Rs 50 to Rs 4,687.50 from Rs 4,637.50 of previous day close. Powered by Capital Market - Live News

Commodity General News Decline in edible oil prices (05-May-2011 , 10:11 Hours IST) On Wednesday (04 May 2011), the imported edible oils, especially Palmolein after rallying for five days, declined by Rs 3 for 10 kg, tracking weak foreign market, need-based local demand and more offering from resalers in ready. Soya and Sunflower oil declined by Rs 5 each, cotton oil down by Rs 3. Rapeseed oil was up by Rs 2 for 10 kg. On the Mumbai commodity exchange, the spot rates were (Rs/10kg): Groundnut oil 840 (840), Soya refined oil 602 (607), Sunflower expeller refined 625 (630), Sunflower refined 675 (680), Rapeseed refined oil 620 (618), Rapeseed expeller refined 590 (589), Cotton refined oil 592 (595) and Palmolein was 577(580). Powered by Capital Market - Live News

ommodity General News Decline in pepper futures (05-May-2011 , 10:13 Hours IST) On Wednesday (04 May 2011), the pepper future fell on bearish activities against fundamentals even after good additional buying. All the contracts dropped sharply. The May contract on the NCDEX fell by Rs 408 to close at Rs 28,950 per quintal. The June and July contracts were down by Rs 510 and Rs 493 respectively to close at Rs 29,475 and Rs 30,008 per quintal. The spot prices, in tandem with the futures market trend, dropped by Rs 200 to close at Rs 27,300 (ungarbled) and Rs 28,100 (MG 1) per quintal. Powered by Capital Market - Live News

US Soyabean Slumps On Weak Chinese Demand (20-Apr-2011 , 09:41 Hours IST) Soybean futures settled mixed on Tuesday. May closed 2 1/4 cents lower at $13.42 while November was 4 3/4 cents higher at $13.54. May soybean meal closed $1.40 lower at $346.40 while May soybean oil was 14 points higher at 57.53 cents. Front end months were pressured by reports that China has cancelled six to eight cargoes of soybeans this month for June and July delivery and about 20 cargoes have been deferred from July to September shipment. This was reportedly due in part to the expected release of a large volume of state soybean reserves that were being released to help control food inflation. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Standstill Session For Zinc So Far (18-Apr-2011 , 12:17 Hours IST) MCX Zinc futures are literally standstill on Monday. Rise in open interest of the metal has done little to stir the prices of the April expiry contract in local markets. When last seen Zinc was trading at Rs 105.9 per kg. Correction towards Rs 105 and 104.8 in the prices cannot be ruled out. It will be interesting to see the moves from EURO-Dollar as well. EURO has been under pressure since the beginning of the day and trades at 1.4379 down 50 pips against the greenback. Global Zinc market surplus will be 200000 tonnes current year report from International Lead And Zinc Study Group (ILZSG) earlier in April said. The growth in World metal production will be more then the usage in 2011. World refined metal production is expected to increase by 5.6% to 13.59 million tonnes. This will result in surplus rising to 200000 tonnes in 2011. Usage of refined Zinc will be 13.4 million tonnes in 2011 as per the report. This is an increase of 6.3%. The demand from Europe is expected to appreciate by 4.4% while in US it will be 6.6%. In Japan usage is expected to 1.9%. Powered by Capital Market - Live News

Commodity Commentary - Pre Session US SoyaComplex Settles In Red On Strong Soyaoil Stocks (15-Apr-2011 , 09:42 Hours IST) Soybean complex prices closed mostly lower on Thursday, but well up from the lows for the day. At the close, May soybeans were down 2 1/2 cents to close at $13.31. May soybean meal gained $0.30 to close at $342.50. May soybean oil futures lost 49 points to close at 56.87 cents per pound. New-crop November soybeans closed down 6 1/4 cents at $13.45 1/4. On the negative side, soybean oil stocks on March 31 totaled 3.06 billion pounds. That was on the high end of expectations. It implies that domestic use was low. It could be that biodiesel demand was still slow in March, failing to really take off despite the resumption of the biodiesel tax credit back in December. USDA's report on weekly export sales was a mixed bag. Net old-crop sales came to 130,200 tonnes.That was in line. But China canceled some new-crop sales and those fell by 50,900 tonnes. Powered by Capital Market - Live News

Commodity Commentary - Pre Session China Credit Tightening Woes To Affect Metals (15-Apr-2011 , 09:57 Hours IST) China credit tightening woes are likely to affect Copper and other metals ahead of weekend. Industrial metals were mostly lower on Thursday impacted by worries of China hiking the interest rates. The rise of prices in China of major commodities will embark fresh monetary tightening measures in the country. This has limited the impact of decline in Dollar. The Dollar closed at 1.4487 as against 1.4478 against the EURO on Wednesday. This is the 16-month low level for the greenback. The Labor Department released a report on Thursday showing that producer prices increased by less than anticipated for the month. The Labor Department said its producer price index rose by 0.7 percent in March following a 1.6 percent increase in February. In another major report, the labour department showed that the initial jobless claims, a key gauge of layoffs, rose to 412000 for the week ending April 9. This was up 27000 from the previous week's revised figure of 385000. MCX Copper near month contract was down by 0.3% to settle at Rs 421.8 per kg on Thursday. Nickel futures were chopped by 0.8% or Rs 10 to settle at Rs 1162 per kg. MCX Lead closed trading at Rs 118.8 per kg, down 2%. LME metals declined sharply with Nickel down $ 570 and Copper by $ 300 to close at $ 26075 and $ 9351 per tonne on Thursday. Powered by Capital Market - Live News

Commodity General News Decline in crude oil (14-Jan-2011 , 09:25 Hours IST) On Thursday (13 January 2011), the crude oil prices declined further after data showed initial jobless claims against a forecast for a slight drop. Crude oil for February delivery declined 39 cents (0.42%) to $91.47 per barrel on the New York Mercantile Exchange. Brent crude oil for February settlement rose as much as 54 cents to $98.66 per barrel on the ICE Futures Europe Exchange. Powered by Capital Market - Live News

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Mumbai: Silver prices recovered from its three session slide at the domestic bullion market here today on attractive lower level buying from speculators and traders following firming trend in European markets. Meanwhile, gold fell modestly due to reduced retail as well as jewellery off-take. Silver ready (.999 fineness) shot up by Rs 280 per kg to finish at Rs 53,685 from its overnight close of Rs 53,405. However, standard gold (99.5 purity) slipped by Rs 45 per 10 grams to close at Rs 21,910 from Rs 21,955 yesterday. Pure gold (99.9 purity) also moved down by Rs 40 per 10 grams to end at Rs 22,015 as against Rs 22,055 previously. In overseas market, gold prices rose in European trade as weakening dollar against major basket currencies along with rebound in oil prices, lured investors to hedge bullion as a safe bet. Spot gold was bid at USD 1,494.09 an ounce in early trade as against USD...

Kolkata: With the Iran payments crisis unresolved, India’s production of orthodox tea is going to suffer a big blow this year. While prices of tea have come down by almost 15% in last six months, producers and exporters are apprehending losing out on one of the biggest orthodox destinations.India exported 11.5 million kg orthodox tea in 2009 lower than 15.8 million kg in 2008. Export of orthodox tea to Iran started increasing from 2006 and exports increased from 6.6 million kg to 13.1 million kg in 2007. Till the second half of last year the operations were smooth. India pulled out of the Asian Clearing Union, a system it has long used to settle payments with Iran, owing to increasing US pressure. The RBI blocked normal transaction channels for trade with the West Asian nations. It said that transaction settlements between India and Iran would be done outside the Asian Clearing Union. This...

Commodities plunged the most since 2009, led by oil and silver, and stocks posted the biggest three-day drop since March as selling of energy futures drove down equities. The dollar strengthened and Treasuries jumped. The Standard & Poor’s GSCI index of 24 commodities sank 6.5% at 4:32 p.m. in New York and has lost 9.9% this week. Oil tumbled 8.6%, the most in two years, to $99.80 a barrel. Silver dropped 8%, extending the biggest four- day slump since 1983 to 25%. The MSCI All-Country World Index of shares in 45 nations fell 1.1 %. The dollar rose 2% versus the euro, making commodities quoted in the greenback more expensive for holders of other currencies. “It’s panic,” said Michael Shaoul, Chairman of Marketfield Asset Management, which oversees $1 billion in New York. “You have those super crowded trades. Now you’re in liquidation mode. There’s nothing to do with weak U.S. economic data. It’s not a global financial crisis. It’s a classic liquidation move in a crowded trade.” Selling swept commodities markets as investors sold positions following gains of more than 23% in 2011 through April 29 by silver, oil, gasoline, coffee and cotton. The dollar, which slumped 13% versus the euro between Jan. 7 and May 2 as the S&P 500 Index rallied 7.2%, strengthened against all 16 major counterparts except the yen after European Central Bank President Jean-Claude Trichet signaled he will wait until after June to raise interest rates. Jobs Report The U.S. said claims for employment benefits jumped to 474,000 last week amid auto-plant shutdowns, exceeding the median economist estimate of 410,000 in a Bloomberg survey, while worker productivity declined. The data raised concern about the world’s biggest economy a day before the Labor Department may say nonfarm payrolls increased 185,000 in April after gaining 216,000 the previous month, according to the median forecast of 84 economists surveyed by Bloomberg. The S&P GSCI Index has dropped 10% from the 32-month high reached on April 8. The measure had surged 64% since Feb. 18, 2009. The biggest slump for silver since 1983 may not be over as the Comex exchange in New York makes it 84% more expensive for speculators to trade the metal, triggering an exit by investors. The minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $21,600 per contract after May 9, said CME Group, Comex’s owner. That’s up from $11,745 two weeks ago. Open Interest Drops Open interest in silver futures has tumbled about 15% since the exchange began raising margin requirements on April 25. Futures on Brent crude, crude oil, gas oil, heating oil, gasoline and natural gas plunged more than 6.9% today. Crude oil dropped below $100 a barrel for the first time since March 17. Copper futures slumped 3.3%, falling below $4 a pound for the first time in five months. Among agricultural commodities, cocoa, cotton, corn and weak retreated more than 2.3% in futures trading. Canada, Colombia, Israel Benchmark equity indexes for Canada, Austria, the U.K., India, the Czech Republic, Colombia, Argentina and Israel retreated 1% or more, according to data compiled by Bloomberg. The euro slumped versus the dollar after Trichet surprised some investors who expected a quicker move to fight inflation. The ECB raised interest rates on April 7, joining China, India, Poland and Sweden in seeking to control inflation. The cost of living in the U.S. rose at its fastest pace since December 2009 in the year ended in March, the same month when Chinese consumer prices rose by the most since 2008. “We are never pre-committed and we can increase rates whenever we judge it appropriate,” Trichet said at a press conference in Helsinki today after the ECB left its benchmark interest rate at 1.25%. He refrained from using the phrase “strong vigilance” that would have signaled a June rate increase, saying only that the ECB will monitor inflation risks “very closely.” Treasuries U.S. Treasury 30-year bonds gained for a sixth day, the longest winning streak since December 2008. Yields on benchmark 10-year notes fell to a six-week low and rates on six-month bills touched a record for a fourth consecutive day before tomorrow’s report on American job creation. The premium investors demand to hold Treasuries instead of 10-year inflation-protected debt dropped to the lowest in a month. The Federal Reserve purchased $1.9 billion in Treasuries maturing from August 2028 to February 2041. The yield on the 30-year bond fell six basis points, or 0.06 percentage point, to 4.26 %, according to Bloomberg Bond Trader prices. It touched 4.27%, the least since Dec. 7. The 10-year note yield fell six basis points to 3.16%, after touching the lowest level since March 17. Six- month bill rates traded at 0.06% after falling to a record low 0.05%.

Commodity General News Pepper down (06-May-2011 , 10:19 Hours IST) Bear speculators who had been spreading rumours that Vietnam pepper had dropped by $300-400 a tonne brought the market down. May contract on the NCDEX fell by Rs 790 to close at Rs 28,160 a quintal. June and July also dropped sharply by Rs 1,026 and Rs 1,166 respectively to close at Rs 28,449 and Rs 28,842 a quintal. May open interest fell by 234 tonnes to 7,835 tonnes. June and July open interest increased by 773 tonnes and two tonnes respectively to 9,573 tonnes and 755 tonnes. Spot prices in tandem with the futures market dropped by Rs 400 to close at Rs 26,900 (ungarbled) and Rs 27,700 (MG 1) a quintal. Powered by Capital Market - Live News

Commodity General News Turmeric & chilli prices decline (06-May-2011 , 10:22 Hours IST) The turmeric futures fell on expectations of a rise in output. The May contract closed at Rs 8,394 for 100 kg as against Rs 8,504 in the previous session. The chilli contracts closed below the two per cent initial lower limit on profit sales. The June contract ended at Rs 9,430 for 100kg, down 3.1 per cent. In Guntur, spot chilli prices ended at Rs 8,801-8,819 for 100 kg as against Rs 8,805-8,828 according to NCDEX. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Spot Market Update : Mustard seed Arrivals At Major Mandies As On 04th May 2011 (04-May-2011 , 14:04 Hours IST) Asper market sources, the total arrivals of mustard seed decreased by 45000 bagsfrom the previous day to 4.75 lakh bags in major mandies today. While thespot prices of mustard seed ( new crop ) were quoting at around Rs 2655per quintal at Jaipur mandi. State- wise Arrivals Summary: State Arrivals ( in Bags ) No.of Bags Change from the last day Rajasthan 320000 Uttar Pradesh 40000 Madhya Pradesh 30000 Gujarat 25000 Haryana & Punjab 40000 -15000 Others 20000 -30000 Total 475000 -45000 Source : commodityinsights.com Powered by Capital Market - Live News

ommodity Commentary - Mid Session Strong Short Built Up In Zinc, Prices Decline (05-May-2011 , 10:54 Hours IST) Heavy built up of short positions since 9 April has posted a grave burden on Zinc prices in local futures markets. The increase of short positions was the result of some significant news flows in the markets that has dented the prospects of Zinc demand. Already facing higher supplies Zinc faced yet another setback when the news of steel demand in China hit the markets. China is expected to show a moderate increase in steel demand in 2011. This is the result of huge capacity increase not matching weak demand. The rise of interest rates in the country has declined the purchasing power of industries. Zinc is a main component used for galvanization of steel. China is expected to continue with stabilizing consumer prices and managing inflation expectation as a top priority for macro regulation, the People's Bank of China (PBOC), said recently. It is imperative to keep necessary intensity of the macro-regulation in a bid to consolidate and improve achievements from earlier efforts and boosts the sound trend of economic development, said PBOC in its quarterly monetary policy report. Zinc May futures have seen some sharp increase in open interest since 9 April 2011, since than the prices have found tough to sustain at elevated levels. Open interest in April was 7040 lots from where it has appreciated to 12305 lots as of today. The rise in open interest has brought slide in prices by 15% to Rs 97.65 on Thursday. Inventories on LME have been on a roll in April and May. The inventories of Zinc are now at 822350 tonnes on 4 May, up 11.7% from 736225 tonnes on 1 April 2011. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Cardamom Touches Fresh Lows On Weak Demand, Arrival Pressure, Bearish Trend To Continue-Says Traders (05-May-2011 , 11:05 Hours IST) MCX Cardamom extended the losses for the fourth consecutive sessions on profit selling triggered by weak demand and higher arrivals. Adequate stocks position in the physical market following increased arrivals from producing belts also put pressure on cardamom futures prices. According to trade estimates, production in India is slightly higher than 11000 tons. As per media sources , total arrivals during the current season from August 1 to April 10,2011, stood at 8810 tonnes which is marginally lower than last year arrivals. As per the estimates of spices board the production in Guatemala expected near 20000 tons. And approximately 90 percent of the harvesting from Guatemala is harvested between October to April period. As per the release from the Spices Board of India, during April-February 2010-11, a total quantity of 865 tonnes of cardamom (Small) valued Rs. 100.41 crores as against 1765 tonnes valued Rs.143.62 crores of last year. In the case of cardamom (Small) the unit value has increased from Rs.813.59 per Kg in 2009-10 to Rs.1160.84 per kg in 2010-11. As per the latest updates from the Spices Board of India, the average prices of cardamom in the auction held at The Cardamom Processing & Marketing Co-Operative Society Ltd, Kumily on Wednesday (as on 4th May 2011) stood at Rs 744.01 and maximum price was at Rs 1077 per kg. The arrivals and offtakes stood at 38915 and 38915 kg respectively. The average prices in the previous auction were Rs 783.26 per kg, meanwhile arrivals and offtakes stood at 44761 kg and 44480 kg respectively. MCX cardamom May contract touched a new low of Rs 890.10, down Rs 27.10 or nearly 3% over the last close. The contract is currently trading lower at session low and the open interest dipped 1.57% to 1,316 tonnes, indicating profit taking. Cardamom futures slumped nearly Rs 100 in the last four sessions. As per the latest updates from leading cultivators in the Idukki region Kerala, the Cardamom known as queen of spices , are likely to continue the bearish trend in near term. This is likley due to rising arrivals in the major trading centres during the lean season coupled with weak export demand and anticipation of better crop in the next season. Some of the traders and farmers are eying the supports of around around Rs 650-700 a kg for the average variety in the coming days. Powered by Capital Market - Live News

ommodity General News Sugar prices rule almost unchanged (05-May-2011 , 10:06 Hours IST) On Wednesday (04 May 2011), the sugar price at Vashi market ruled almost unchanged on back of steady demand and normal supply from producing centres. In spot, S-grade sugar rose by Rs 5 per quintal. According to the Bombay Sugar Merchants Association, the sugar rates were: S-grade: Rs 2,756/2,791 (Rs 2,751/2,791) and M-grade: Rs 2,801/2,911 (Rs 2,801/2,911). Naka delivery rates: S-grade: Rs 2,710/2,740 (Rs 2,710/2,740) and M-grade: Rs 2,770/2,860 (Rs 2,770/2,860). Powered by Capital Market - Live News

ommodity Commentary - Pre Session Oil Turns Up After Recent Losses (20-Apr-2011 , 09:57 Hours IST) Crude oil futures surged in the Asia electronic trades today after two days of continuous losses owing to the US downgrade by Standard and Poor's. On Tuesday, China's Foreign Ministry dealt the United States another humiliation one day after Standard & Poor's issued its warning on the nation's debt. China urged the U.S. to take “responsible” measures to protect investors in its debt. The warning put the United States in the same position Greece and Portugal face in the European Union, where stronger nations urge fiscal restraint on profligate debtors. Since China is reported to hold at least $2 trillion of our Treasury debt, it has a big stake in the U.S. continuing to pay interest on it. Today, WTI light sweet oil futures surged above $109 a barrel buoyed by positive housing data from US yesterday. Also Tuesday, Treasury Secretary Timothy Geithner played down the S&P warning, saying “there is no risk” that the U.S. will lose its AAA credit rating. He predicted Congress would exercise discipline. MCX crude futures for the May delivery ended at Rs 4867 per barrel yesterday. A move above Rs 4840 levels may take it to Rs 4890 levels today. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Commodities Buzz: India Likely To Receive Normal Monsoon In 2011 (18-Apr-2011 , 12:13 Hours IST) India is likely to receive a normal monsoon this year, the South Asia Climate Outlook Forum (SACOF) stated, according to media reports. The SACOF noted that for the season as a whole, the large-scale summer monsoon rainfall over South Asia would most likely be within the normal range. The forum projected the likelihood of below normal rainfall over the northwestern parts and some northeastern parts of South Asia, but normal rainfall over the southern parts of South Asia, including the islands. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Commodities Buzz: India Likely To Receive Normal Monsoon In 2011 (18-Apr-2011 , 12:13 Hours IST) India is likely to receive a normal monsoon this year, the South Asia Climate Outlook Forum (SACOF) stated, according to media reports. The SACOF noted that for the season as a whole, the large-scale summer monsoon rainfall over South Asia would most likely be within the normal range. The forum projected the likelihood of below normal rainfall over the northwestern parts and some northeastern parts of South Asia, but normal rainfall over the southern parts of South Asia, including the islands. Powered by Capital Market - Live News

Commodity Commentary - Mid Session India's Vegetable Oil Imports Down 31.1% In March 2011 (15-Apr-2011 , 12:36 Hours IST) As per latest data complied by Solvent Extractors' Association of India , the import of vegetable oils during March 2011 is reported at 435,735 tons compared to 632,868 tons in March 2010 i.e. down by 31.1%, consisting of 412,088 tons of edible oils and 23,647 tons of non-edible oils. The overall import of vegetable oils during Nov.'10 to Mar.'11 is reported at 3,128,418 tons compared to 3,747,421 tons i.e. down by 16.5%. Last year during Nov.'09 to Mar.'10, import had increased due to lower crushing during the season however, this year situation is different and therefore showing high negative growth. Main Reasons for Decline in Imports Import of Edible Oils has decreased due to : a) Higher production of oilseeds during kharif and rabi seasons. b) Increased crushing activity boosted local availability. c) Good crushing parity due to high price of oil and export demand for oilmeals. d) Negative margin in import and high prices of edible oil has sunked the demand growth. Strong Stocks In Domestic Market The current stock of edible oils as on 1st April, 2011 at various ports is estimated at 545,000 tons (CPO 260,000 tons, RBD Palmolein 80,000 tons, Degummed Soybean Oil 135,000 tons and Crude Sunflower Oil 70,000 tons) and about 800,000 tons in pipelines. Total stock, both at ports and in pipelines, is estimated at 1,345,000 tons compared to 1,530,000 tons as on 1st March, 2011. Non-Edible Oil Imports Rise 15% In March 2011 Import of Non-edible oils during March 2011 is reported at 23,647 tons compared to 20,575 tons during the same period last year. The overall import of non-edible oil during Nov.'10 to Mar.'11 is reported at 103,922 tons compared to 162,141 tons during the same period of last year i.e. decreased by 36%. P.F.A.D., P.K.F.A.D. & C.P.K.O. are the major import of non-edible oils. Powered by Capital Market - Live News

Commodity Commentary - Mid Session Spot Market Updates: Turmeric Arrivals Jump to 20,000 Bags In Nizamabad Mandi (15-Apr-2011 , 13:23 Hours IST) Turmeric arrivals in the benchmark Nizamabad mandi were at 20,000 bags, with prices quoted at Rs 9800 per 100 kg. The arrivals at Erode in the state of Tamil Nadu were at 26,000 bags and prices quoted at Rs 10,500 per 100 kg. Meanwhile, in Salem mandi prices were at Rs 11,000 per 100 kg. In the Nanded mandi of Maharashtra, select quality trading at Rs 10,000 per 100 kg (Rs 11,500-12,000, as on 8 April) and the Powder quality quoted at Rs 9,800 per 100 kg (Rs 11,000, as on 8 April). Rajpuri quoted at Rs 11500 kg and desi Kadappa quoted at Rs 9500 in Sangli mandi. Powered by Capital Market - Live News