The Unethical

Coonoor tea prices fell Rs 2/kg Description  :  Industry Date  :  Aug-16-2010 The tea prices at the Coonoor Tea Trade Association auctions on Friday fell Rs 2 a kg at Sale No: 32. Rs 2.3 crore worth of tea remained unsold still due to the withdrawal of 27 per cent of the 16.21 lakh kg on offer for want of buyers. About 37 per cent of leaf and 28 per cent of dust remained unsold. In all, 96 marks of CTC teas from bought-leaf factories garnered Rs 100 and more. Homedale Estate got Rs 146 while Professor fetched Rs 140, Vigneshwar Estate garnered Rs 137, Kannavarai Estate Rs 129, Shanthi Supreme Rs 128 and Garswood Estate clonal Rs 126. However, among orthodox teas from corporate sector, Curzon fetched Rs 163 followed by Thaishola Rs 159, Coonoor Tea Rs 157, Kairbetta Rs 155, Havukal and Katary Rs 147 each, Glendale and Sutton Rs 142 each. In all, 28 marks got Rs 100 and more. Meanwhile, the quotations held by brokers indicated that the bids varying between Rs 32-36 a kg for

Mixed trend in spot rubber Description  :  Industry Date  :  Aug-17-2010 The spot rubber yesterday witnessed a mixed trend. Due to the lack of large buying commitments by most of the traders, the market lost its direction in leading grades. The sheet rubber closed unchanged at Rs 184 a kg amidst scattered transactions. Meanwhile, due to the short supply, the latex 60 per cent recovered. The Board's rate remained firm at Rs 183 a kg for RSS 4. The domestic rubber futures of September series surged to touch a high of Rs 177.28 and low of Rs 174.40 a kg for RSS 4. In the international market, RSS 3 fell due to the strengthening of yen against the dollar and on concern that demand for the commodity used to make auto tyres may weaken. On National Multi Commodity Exchange (NMCE), the September series surged to Rs 176.41 (173.55) followed by October to Rs 169.20 (164.63) and November to Rs 166.50 (161.51) while the December series closed its debut trading at Rs 167 a kg. The tot

Sugar companies in sweet spot: Government fixes ethanol price at Rs. 27 a liter Description  :  Industry Date  :  Aug-17-2010 Sugar companies welcomed the move to get Rs. 27 a liter for ethanol as the surging demand for fuel has landed sugar companies in a sweet spot. Oil companies will now have to buy ethanol from sugar companies to be used for blending with automobile fuel. Since sugarcane production is expected to be higher this year after improved acreage for the crop hence the move has come at a good time for sugar companies. However the higher sugarcane availability is expected to depress prices even as sugar prices are off their peak seen last year. the industry is expected to produce 160 crore liters during the current sugar year as selling ethanol to oil companies also opens another revenue stream for sugar companies. While it is a party time for sugar companies, the oil companies are clearly unhappy as this mandate would mean an additional outgo of around 500 - 600

Sugar declines on lower offtake Description  :  Industry Date  :  Aug-17-2010 There was a marginal decline in the spot sugar prices yesterday at Vashi spot market by Rs 15-20 a quintal due to the lack of retail and upcountry demand. The traders opted to book profits after a sudden surge in prices in the last week on Saturday. The prices fell due to the selling pressures from the stockists at naka delivery trade by Rs 30-35. The prices of Naka delivery rose Rs 100 a quintal. About 50,000-55,000 bags (100 kg each) was sold by the mills to the local traders in the price range of Rs 2,495-2,510 for S-grade while Rs 2,540-2,565 for M-grade. The total arrival on Monday at Vashi market stood at 40-45 truckloads (10 tonnes) while the lifting stood at 35-36 truckloads. Mills offered tenders at Rs 2,475-2,500 for S-grade while it was Rs 2,525-2,575 for M-grade (including excise) a quintal. According to the Sugar Merchants Association, spot market rates for S-grade stood in the range of Rs 2,

Good demand fuels cardamom prices Description  :  Industry Date  :  Aug-18-2010 There was a marginal increase in the cardamom prices at the auctions held last week in Kerala and Tamil Nadu due to the good buying support and limited arrivals. However, no auction was conducted on Sunday on account of the Independence Day. The sources said that the individual auction average surged to above Rs 1,400 from the last Monday's auction average of Rs 1366.60 and in fact, it oscillated in the range of Rs 1,400 and Rs 1,460 a kg, trade sources said. They also said that the total arrivals last week stood at 120 tonnes as against 92 tonnes in the previous week. Out of the total arrivals of 232 tonnes during the current season i.e. from August 1 to August 14, 230 tonnes of cardamom were sold. The arrivals and sales during the same period in the previous season stood at 246 tonnes and 242 tonnes, respectively. The weighted average price as on August 14 stood at Rs 1,398 a kg as against

Spot rubber stays firm on supply crunch Description  :  Industry Date  :  Aug-19-2010 The spot rubber continued its firmness on Wednesday as well. There seems to lack of buyers or sellers in the main trading centres to give a definite direction to sheet rubber. On the National Multi Commodity Exchange (NMCE), the September series fell significantly to Rs 171.20 (176.38) followed by October Rs 164.49 (169.36), November Rs 163.90 (166.74) and December Rs 164.75 (167.50) a kg for RSS 4. The benchmark Tokyo rubber futures contract rose 3 per cent to a three-month high following a relative stability in Japanese stocks and a pause in the Yen's advance against dollar. While on the Tokyo Commodity Exchange (TOCOM), the August futures for RSS 3 surged to 330/Rs 180.22 (325.7) a kg during the day session. The grade closed firmly at 330 during the night session. RSS 3 (spot) rose to Rs 154.78 (Rs 153.45) a kg at Bangkok. Spot rates were: RSS-4: 184 (184); RSS-5: 174 (174); ungraded