India has no plan now to raise import tax on sugar

India has no plan at present to raise import tax on sugar as the Govt doesn’t see prospects of imports from Pakistan as of now, as per report. Although sugar availability of this year remains as tight as last year, India will have sufficient sugar to meet domestic demand without overseas purchases. The govt has pegged total sugar output at 24.…

Government takes away export curbs on all varieties of pulses

The government has lifted restrictions on export of curbs on all varieties of pulses. This step has been taken so as to ensure farmers get better prices for their produce, since domestic rates have crashed below Minimum Support Price considering record production. India produced a record 22.95 million tonnes of pulses in the 2016-17 crop year and t…

Commodity Tips- Base Metals Copper and Crude oil future, MCX Gold prices

Copper futures ended on lower note on Wednesday, followed by unsatisfactory Chinese data on industrial output. Copper futures for December delivery plunged 0.35 to settle at USD 3.055 a pound on the Comex metals division of NY Mercantile Exchange, while on the LMX ended up 0.2% at USD 6,773 a metric ton Sequentially, Gold futures dropped during th…

Commodity news: Rupee inches up Higher on Foreign Fund Inflows

The Indian rupee spiked higher against the U.S dollar in early trades on Wednesday, 15 Nov 2017 on fresh selling of the US currency by exporters, together with support fresh inflow of foreign funds and weakness in the dollar against other currencies. The rupee opened at Rs 65.40 against the U.S. dollar and jumped to a high of 65.30 during the mid-…