Page 2 - Commodities

Commodity costs down, expect price drop: GCPL MD & CEO Sudhir Sitapati

Commodity costs have fallen "sharply" in the last few months, the margin situation is now "pretty good" and a revival in sales volume is expected, helped by price drops in some categories such as soap, said Godrej Consumer Products Ltd (GCPL) Managing Director and CEO Sudhir Sitapati. In the last three-four months, a lot of commodities such as palm oil have deflated, he said, adding the inflation which is presently in the market is as a consequence of the high prices that were there six to eight months ago. "So I certainly do not see price hikes in the short to medium term unless the commodity situation goes up. I see, in categories like in soaps and all, price drops," Sitapati told reporters on the sidelines of an event here. Now the hyperinflationary scenario is gone off and the company "definitely expects volumes to revive", he said, adding there would be negative price growth over the next few months, but with better volumes. Sitapati expects consumption to come back and the ..

Vedanta to sell its foreign zinc assets to Hindustan Zinc for $2.98 bn

Hindustan Zinc's Q3 net profit drops 20% on lower output, prices

India considering measures to cool high wheat prices: Govt official

India has been considering measures to cool domestic wheat prices, which jumped to a record high this week as supplies dwindled, Food Secretary Sanjeev Chopra said on Thursday

Profit-booking takes some sheen off gold; commodity hits all-time high

The yellow metal had closed at Rs 56,195 per 10 gram in the previous trade. Silver also plummeted Rs 1,475 to Rs 69,286 per kilogram

10 of 13 key commodities dip in Samvat 2078 after hitting multi-year peak

The basket of ferrous and non-ferrous metals, too, saw sharp swings in Samvat 2078

After wheat, iron ore, Railways raises wagon registration fee for all goods

Moreover, the charge for booking an entire rake, or goods train, has been revised to Rs 1,00,000 from the earlier Rs 50,000

Metal sector: Investors should brace for a difficult Q2; H2 could be better

Metal spreads may not yet have bottomed out with guidances indicating Q2' FY 2022-23 may see lower profitability

Buy commodities, worry about recession later, says Goldman Sachs

Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains

Gold-Silver Price Today: Prices go down for a while - Monday, 1 August

Gold and Silver prices go down gradually. Chennai to be the most expensive to city to buy gold and silver.

Sandur Manganese turns ex-date for rights issue; stock zooms 50% in 7 days

On April 10, 2022, the board had approved rights issue in the ratio of 2 rights equity shares for every 1 equity share as on record date at a price of Rs 10 per share.

No sign of overcapacity yet as global commodity prices come off peaks

The exception is energy, which isn't dictated by liquidity conditions, but by decisions of the Opec-plus cartel, where plenty of other factors come into play

Gold trading at Rs 51,820 per 10 gm today; silver selling at Rs 60,600 a kg

The rate of gold decreased by Rs 280 per 10 gram on Thursday with 24-carat of the metal trading at at Rs 51,820

A softer approach on commodities this time even as shortages loom globally

Unlike in the past, the Centre isn't restricting movement within the economy, but has only imposed export curbs. Consequently, there is no rush to use the Essential Commodities Act

Left parties call nationwide protest against price rise from May 25-31

Left parties have called a nationwide protest against the rising prices of essential commodities and unemployment from May 25-31. In a joint statement issued on Saturday, the Left parties directed their units across the country to coordinate this united and concerted nationwide struggle against price rise and unemployment. "Unabated galloping price rise is imposing unprecedented burdens on the people. Crores are suffering and are pushed into deeper poverty with growing hunger pangs. Coming on top of unprecedented and growing levels of unemployment, this is compounding people's miseries," the statement said. The Left parties said that over the last year the prices of petroleum products have increased by 70 per cent, vegetables by 20 per cent, cooking oil by 23 per cent and cereals by 8 per cent. "Wheat, the staple diet of crores of Indians, is seeing a price rise of over 14 per cent, making it unaffordable. Wheat procurement has declined. Central government has procured less than ..

Tata Consumer Products MD Sunil D'Souza on food & non-food business plans

In a recent interview with Business Standard's Sharleen D'Souza, Tata Consumer Products MD and CEO Sunil D'Souza shares his strategic roadmap for food and non-food businesses. Listen in

China lockdown fears rip through markets as stocks, commodities, Yuan tank

A Covid flareup that shut down much of Shanghai appeared to worsen over the weekend after China ordered mandatory tests in a district of Beijing and locked down some areas of the capital

WPI-based inflation zooms to 14.55% in March on rising fuel, food prices

WPI inflation last month was 13.11 per cent on hardening of prices of crude oil and non-food items

Gold trading at Rs 53,450 per 10 gm today; silver selling at Rs 67,800 a kg

The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.

Domestic gold spot exchanges face tax hurdle, unlikely to start ops

IBJA has also suggested to the govt to create a notional entity wherein all GST is immediately refunded by the govt to the trader as soon as gold is deposited in the vault

India buys Russian sunflower oil at record price as Ukraine supplies stop

Sunflower oil from Russia could help the world's biggest edible oil importer in easing the shortfall at a time when availability of vegetable oils is stretched