Tuesday, July 2, 2013

India losing ground in pepper production, exports

India is fast losing its status as a leading producer and exporter of pepper, also known as "black gold", as production and cultivated area of this spice variety have dwindled.  Grown mostly on the slopes of Western Ghats in Kerala, Karnataka and Tamil Nadu, cultivation base of pepper has come down sharply in the last decade hitting production and export. According to pepper growers and traders, factors ranging from vagaries of climate to afflictions wilting pepper vines, contributed to fall in production and shrinkage of cultivated area. technical analysis software free download charting software
 Statistics of the International Pepper Community (IPC) show the area under pepper cultivation in India dwindled from 218,670 hectares in 2001 to 182,000 hectares in 2010. In contrast, the cultivation base and production in countries like Vietnam and China increased during the period, giving stiff competition to India.  With the cultivated area shrinking steadily in India, pepper production also fell to 50,000 tons by 2010 from 79,000 ten years ago. In Kerala alone, area under pepper cultivation fell from 172,182 Ha to 85,335 Ha in a single year from 2010-11 and production plummeted to 37989 tons from 45267 tonnes, according to the state's Economic Review. best technical analysis software for Indian stock market

 According to Spices Board, export of Indian pepper in 2012-13 came down by 40 per cent compared to the previous year. While the country shipped 26,700 tonnes of pepper in 2011-12, exports fell to 16,000 tonnes in 2012-13. Ironically, this happened in a year when the export of spices from India marked a record 22 per cent growth crossing Rs 10,000 crore mark as per the Spices Board figures. "This certainly is a worrying trend, which requires some urgent measures to support farmers. We have certain schemes for pepper under the National Horticulture Mission," a Spices Board official said. According to farmers, who mostly grow pepper as an inter- crop, production suffered from afflictions like root-wilt and slow-wilt and also price fluctuation, forcing them to abandon the enterprise in prime pepper areas like Wayanad and Idukki. charting softwareIndia mcx buy sell signal software

 According to market analysts, despite the reputation for its high quality, Indian pepper has been facing stiff competition from countries like Vietnam where cultivation is taken up on commercial scale and the inputs, including labour, are cheaper. "It is time that we took some pro-active steps like promotion of pepper as a mono crop by providing institutional support to farmers," said Philip Kuruvilla, chairman of World Space Organisation, a platform for all stakeholders of the spice industry from producer to processor. "It is true that pepper has been grown as an inter-crop in Kerala. But strategic shift is necessary to arrest the downtrend," Kurivilla said. Pushing high value produce like organically grown pepper could also boost export, he said. technical lanalysis software for Indian stock market free
  "We have to identify new areas for increasing the cultivation base and promote good farming practices like organic method. But this would require institutional support for farmers in the interim period ," he said. According to Spices Board, distribution of disease- resistant planting material is the thrust of the rejuvenation project. "Many of the indigenous varieties of pepper vines conducive to our geographical and climatic conditions have disappeared over the decades. The present ones are prone to be easily afflicted by the diseases. So, it is important to make available planting material to the farmers," Spices Board sources said. technical analysis software for Indian stock market

Source : Business-Standard

Gold is no longer an attractive investment option

Gold is losing its sheen mainly due to the stiff measures to curb gold imports being put in place by RBI From a peak of Rs 32,500 per 10g in November 2012, the domestic price of gold has come down to Rs 25,775 currently - a 20.7 per cent fall in just seven months. During the s period, international gold has lost 29.4 per cent in value. The lower fall in domestic prices can be attributed to the rupee's depreciation and increase in import duty. International gold prices peaked at $1,900 per ounce in September 2011, from where it has fallen 35 per cent. Gold has thus, lost its sheen as an investment option. technical analysis software
 A large part of this is due to the stiff measures to curb gold imports being put into place by the Reserve Bank of India (RBI). RBI has been battling a rising tide of current account deficit (CAD) and has quite rightly clamped down on import of gold. The fall in CAD to 3.6 per cent of gross domestic product in the last quarter of FY13 will bring some cheer to RBI, but the apex bank is unlikely to change its policy on imports.  India imported approximately 1,000 tonnes of gold in FY13, valued at $55 billion. This is a direct export of capital contributing to the rising CAD. Under the circumstances, RBI had little choice but to clamp down on gold imports. RBI's moves have several repercussions on the outlook for gold. mcx trading software

 First, banks have been banned from importing gold on a consignment basis. This means banks can no longer use their balance sheets to hold gold inventory. This will limit the supply and, thereby, availability of gold in the market. Hence, in a volatile movement of prices, the quantum of sales will not change much. Second, according to RBI's fiat, bank credit/ gold loan will not be available to the domestic bullion industry. Most bullion industry players used to import gold using their bank credit lines. With this option now not being available, all gold procurement will be 100 per cent backed by cash. This has already had the impact of shrinking the demand size from these players. commodity software

 The third reason gold has lost its sheen is the increase in import duties. Currently, the total taxes on gold work out to about 9.24 per cent. In a scenario where international prices seem to be falling, these taxes make gold an unattractive investment option.  The other reasons why gold is losing its sheen are more structural. Gold is essentially used as a hedge against inflation. When the real interest rate - inflation adjusted interest rate - is negative, people tend to buy gold rather than invest in bank fixed deposits. This had been the case for the last few years. But with wholesale price inflation now falling to five per cent, real interest rates have turned positive and demand for gold will fall automatically. mcx software

 inally, with the continued improvement in the US economy, there will be selling pressure on gold with the exchange traded funds reducing their exposure. This selling will push gold prices down further, making it an unattractive investment option in the short/medium term. best technical analysis software
Source : Business-Standard

Muthoot Finance applies for bank licence

The company intends to leverage its strong presence in rural India where it's been offering gold loan services Muthoot Finance Ltd, India’s largest gold loan company, has applied for a banking licence to offer full fledged banking services.  The application was submitted before the banking sector regulator the Reserve Bank of India (RBI) in accordance with the guidelines issued by it for licensing of new banks in the private sector in February. best technical analysis softwarefor Indian markets

“We want to get the leverage of our strong presence in rural India where we are offering gold loan services. Also, we are currently a single product company which we want to diversify into other sectors with full fledged banking services,” said K P Padma Kumar, Executive Director of Muthoot Finance.  Muthoot Finance has also recently received in-principle approval from RBI to set up White Label ATMs. The company has already chalked out of setting up 1,000 such ATMs in the first year and another 8,000 in the next two years. mcx software
“With our last mile connect in to the rural hinterland, a banking licence will enable us to play a larger role of financial inclusion by taking these services to the unbanked and underserved population of the country,” said George Alexander Muthoot, managing director of the company. mcxtips software free technical analysis software

 Muthoot Finance has a branch network of 4,200 spread across 21 states and 4 union territories. Around 60% of this branch network is spread across tier II, tier III and tier IV cities. “Many of our branches in the in the tier II, III and IV cities can be immediately converted in to a full-fledged bank. Our reach of 4,200 branches, large existing customer base and the strong brand image makes us an eligible candidate for a Bank in the country,” he said. technical analysis software commodity software charting software

Source : Business-Standard

Commexes' biz falls to Rs 34.36 lakh cr till Jun 15 of FY'14

Trading volumes in farm items, gold, silver and other metals remained lower in the April - June period: FMC The turnover of the commodity bourses declined marginally to Rs 34.36 lakh crore till June 15 of the current fiscal as volumes fell in agricultural commodities as well as in bullion, according to the Forward Markets Commission (FMC). best technical analysis software

The exchanges had made a business of Rs 34.42 lakh crore in the same period last year.  Barring energy futures, trading volumes in farm items, gold, silver and other metals remained lower in the said period, commodity markets regulator FMC said in a statement.  According to the FMC, the turnover from energy items like crude oil increase by 33% to Rs 8,50,017 crore between April and June 15 of the current fiscal, as against Rs 6,39,455 crore in the same period corresponding year. commodity software
However, the business from agricultural commodities declined more than 25% to Rs 3,11,377 crore from Rs 4,16,393 crore, while the turnover from metals fell by over 6% to Rs 6,55,408 crore from Rs 6,98,206 crore in the review period.  Similarly, the turnover from bullion fell by 4% to Rs 16,19,612 crore between April and June 15th of 2013-14 fiscal from Rs 16,88,770 crore in the year-ago period. mcx trading software

During the first fortnight of June, leading commodity bourse MCX had achieved a maximum business of Rs 5,58,168 crore, followed by NCDEX at Rs 41,103 crore, NMCE at Rs 5,928 crore, ICEX at Rs 5,777 crore, Universal Commodity Exchange at Rs 5,419 crore and ACE at Rs 3,184 crore. Currently, there are 22 commodity bourses in the country, of which six of them operate at national level. Total turnover of these bourses had dipped to Rs 170.46 lakh crore in the 2012-13 fiscal from Rs 181.26 lakh crore in the previous year. technical analysis software
Source : Business-Standard

Gold price drop impacts Titan's diamond jewellery sales growth

During FY13, Titan recorded 15% growth in jewellery sales to Rs 8,108 cr, about 30% of which came from diamonds Titan Industries is likely to witness a slower rate of growth in its diamond jewellery sales during the current financial year, due to renewed interest for traditional gold jewellery. The recent decline in the price of gold impacted its diamond jewellery business in the just concluded first quarter. The rate of growth here was 18 per cent in the April-June quarter for Tanishq, the jewellery division of Bangalore-based Titan, against 26 per cent growth in the corresponding quarter of 2012-13, a top company official said. technical charts software free download commodity charts
 "We have seen a clear shift in the buying pattern during the quarter. Customers were rushing to buy gold jewellery, coins and bullion, mainly due to the decline in gold prices. Though it is temporary, we expect the contribution of diamond jewellery to come down in our overall jewellery business this year," Sandeep Kulhalli, vice-president, retail & marketing of Titan's jewellery division told reporters. Real time CommodityTechnical Analysis Software Charting Software
 During 2012-13, Titan recorded 15 per cent growth in jewellery sales to Rs 8,108 crore, about 30 per cent of which came from diamonds. The diamond jewellery segment grew 27 per cent. For 2013-14, it hopes to maintain similar growth numbers. It is aiming at Rs 10,000 crore of sales, growth of around 23 per cent. "The decline in the rate of growth of our diamond jewellery sales in the first quarter was an exception. We expect the sales to pick up from the second quarter, more so during the Diwali season, assuming gold prices remain at the current levels," said Kulhalli. Real time Technical Analysis Software Commodity Charting Software
He said the mandatory disclosure of PAN card number details for all high-value purchases contributed to the decline in the rate of growth in the quarter. It is mandatory to disclose the PAN number for all purchases of and above Rs 5 lakh. For Titan, 15-20 per cent of all diamond sales come in the high value bracket. As a result of this rule, the growth rate for the company has dipped from a high of 40 per cent in 2010 to 25 per cent, he said. During the second quarter, Titan expects 20 per cent growth in diamond jewellery. It is adding 30 new stores this year to the current number of 150. It is also launching new diamond jewellery collections later this week. Mcx IntradayTechnical Analysis Software Mcx Charting Software
Source : Business-Standard

Gold futures up 0.1% on firm global cues

Gold for delivery in far- month October contracts moved up by 0.10% Gold futures prices rose by 0.18% to Rs 26,027 per 10 gm today as speculators enlarged their positions on the back of firming global trends. At the Multi Commodity Exchange, gold for delivery in August rose further by Rs 46, or 0.18%, to Rs 26,027 per 10 grams, with a business turnover of 620 lots. mcx software free download Commodity Charting Software
In a similar fashion, gold for delivery in far- month October contracts moved up by Rs 26, or 0.10%, to Rs 26,161 per 10 grams, with a trade volume of 25 lots. Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on speculation the plunge to a 34-month low and the biggest quarterly drop on record will spur physical demand. Commodity Technical Analysis Software Commodity Charting Software
Meanwhile, gold rose by 2.60% to $1,255.70 an ounce in New York in yesterday's trade. commodity buy sell signal software mcx software free download

Source : Business-Standard

Longer currency trade time on agenda

On exchanges' renewed request, Sebi asks for market feedback; proponents say needed to develop this segment The exchanges have revived an earlier effort for regulatory approval to extend the trading hours in their currency segments, in the wake of the heightened volatility in the rupee. The MCX-SX and National Stock Exchange have approached the Securities and Exchange Board of India (Sebi) for an extension of trading hours in the currency derivative segment to 11:30 pm from the present 5:30 pm. Sebi has told the exchanges, in a communication seen by Business Standard, to ask market participants and intermediaries for their views. best technical trading software india commodity buy sell signal software

When asked, an MCX-SX spokesperson said, “Market research and the process of gathering feedback from market participants is an integral role of any exchange. Our research department conducts various surveys on an ongoing basis for feedback to industry bodies, research institutes, regulators and policy makers. It will be inappropriate for us to comment anything beyond this in the above matter.”NSE declined to comment. Sources say both MCX-SX and NSE are in the process of collecting views from participants. MCX-SX is said to have collected views from about 400 companies and is targeting 100 more. best software technical analysis technical trading software india

Both exchanges and other market participants have for three years been requesting an extension for the segment. The latter say this is a “critical requirement” for development of the Indian currency markets. “The rupee is a globally traded commodity and is constantly moving. So, trading hours in the rupee need to be long enough to capture both the London and New York markets. This exposure to international markets is critical for our currency market,” said Sudip Bandyopadhyay, managing director and chief executive of Destimoney Securities. The London market opens mid-day according to Indian Standard Time  (IST), while the New York market opens at 7 pm IST. best charting software in india best software technical analysis
Market participants believe apart from aligning India to the international markets, the extension will also help reduce volatility in the segment. “The time difference between the closing of the Indian markets and the opening of the US markets creates huge volatility in the dollar-rupee trade. Often, the market opens with a huge gap, up or down. So, it (the extension) could help in reducing this sort of volatility,” said Hemal Doshi, chief currency strategist, Geojit Comtrade. Best Free Real time intraday Nifty Charting Software

 However, some quarters are not in favour of an extension due to possible hurdles in settlement. “We are wondering how RBI (the Reserve Bank) would be able to manage the spot positions issue. Spot positions cannot be kept open for a long time because the settlement will take longer. Banks also do not deal in any major currency settlements post 5 pm,” said a currency analyst from an Indian brokerage. commodity buy sell signalsoftware mcx software free download
 Not all market participants feel trade settlement is a concern. “Indian markets have the infrastructure to handle any issue regarding settlements. When commodity trade settlements can happen at midnight, there should be no problem on the currency side either,” said Amit Majumdar, executive director at Angel Broking. The extension would also be beneficial to the hedging community as they’d be able to hedge at exchange rates, said participants. Real time intraday Nifty Technical Analysis Software

Source : Business-Standard

Thursday, June 13, 2013

Gold prices bounces back on MCX, August contract up 0.5%

MCX GOLD October contract was trading at Rs 28277 up Rs 130, or 0.46 percent. The GOLD rate touched an intraday high of Rs 28370 and an intraday low of Rs 28177. MCX GOLD August contract was trading at Rs 28087 per 10 gram, up Rs 135, or 0.48 percent. The GOLD rate touched an intraday high of Rs 28186 and an intraday low of Rs 27980. So far 12086 contracts have been traded. GOLD prices have moved down Rs 4140, or 12.85 percent in the August series so far. Mcx commodity charts Mcx trading software Commodity trading

MCX GOLD October contract was trading at Rs 28277 up Rs 130, or 0.46 percent. The GOLD rate touched an intraday high of Rs 28370 and an intraday low of Rs 28177. So far 305 contracts have been traded. GOLD prices have moved down Rs 3573, or 11.22 percent in the October series so far. Mcx commodity charts indicators trading software free download
MCX GOLD December contract was trading at Rs 28470 up Rs 296, or 1.05 percent. The GOLD rate touched an intraday high of Rs 28500 and an intraday low of Rs 28456. So far 5 contracts have been traded. GOLD prices have moved down Rs 2470, or 7.98 percent in the December series so far.

Source : .Money Control

Silver trades higher; July contract rises 0.5%

MCX SILVER September contract was trading at Rs 44375 up Rs 208, or 0.47 percent. The SILVER rate touched an intraday high of Rs 44640 and an intraday low of Rs 44230. MCX SILVER July contract was trading at Rs 43781 per kg, up Rs 235, or 0.54 percent. The SILVER rate touched an intraday high of Rs 44039 and an intraday low of Rs 43610. So far 11468 contracts have been traded. SILVER prices have moved down Rs 21229, or 32.65 percent in the July series so far. mcx commodity live charts live mcx charts commodities

MCX SILVER September contract was trading at Rs 44375 up Rs 208, or 0.47 percent. The SILVER rate touched an intraday high of Rs 44640 and an intraday low of Rs 44230. So far 327 contracts have been traded. SILVER prices have moved down Rs 12944, or 22.58 percent in the September series so far. commodity online charts free software for technical analysis
MCX SILVER December contract was trading at Rs 45595 up Rs 473, or 1.05 percent. The SILVER rate touched an intraday high of Rs 45595 and an intraday low of Rs 45325. So far 3 contracts have been traded. SILVER prices have moved down Rs 1574, or 3.34 percent in the December series so far.

Source : .Money Control

Gold pulls down; world bank cuts growth: Dani Commodities

Dani Commodities has come out with its report on bullion. According to the research firm, one can buy MCX Gold at Rs 28070 with a stop loss of Rs 28000 for target of Rs 28200. Dani Commodities' report on bullion: Goldfutures pulled down in the Asia electronic session today however the losses were limited due to weakness in the US dollar. The Asia equities tumbled sharply today after the World Bank lowered its global economic-growth forecast. indian commodity market live rates commodity trading software

In its semiannual Global Economic Prospects report the World Bank revised lower its expectations for growth in China, Brazil and India, while upping estimates for Japan and the US For 2014, the World Bank sees global growth at 3 percent. The World Bank lowered its global economic-growth forecast Wednesday, tipping 2.2 percent expansion in 2013, down from a 2.4 percent projection issued in January and below last year's estimated 2.3 percent growth. Meanwhile, Australia's May employment data surprised markets with a gain in jobs, sending the nation's currency jumping. Total employment rose by 1,100 last month, with the jobless rate holding steady at 5.5 percent, the Australian Bureau of Statistics said Thursday. On the other hand, the gains came on the back of a 6,400 rise in part-time jobs, with full-time positions falling 5,300. mcx free live charts crude oil technical analysis
Gold for August delivery is trading down USD  2.9 at USD 1389.1 per ounce on the New York Mercantile Exchange. Yesterday, it rose USD 15, or 1.1 percent, to end at USD 1,392 an ounce in floor trade, after earlier dipping to an intraday low of USD 1,372.20. free charting software commodity tips software charting software

International: Major Support at USD1400. Bearish below USD1400.
Domestic: Buy at 28070, Stoploss 28000, Target 28200.

International: Major Support at USD24. Bearish below USD24.
Domestic: Buy above 43800, Stoploss 43550, Target 44200.

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Source : .Money Control