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Monday, May 11, 1998

	Promoters resort to "subsequent public offers" to skirt dull market Initial public offers are not just passe, they are dead. Enter subsequent public offers (SPOs), the new-generation equity offer from promoters who are running around for voluntary delisting of their companies' shares. These offers are anticipated from promoters who have evolved a three-pronged formula to sidestep the primary-market disaster.		Cut in DEPB rates hits exports of galvanised sheets Galvanised sheet is considered to be a high growth segment in steel. However exporters of this value-added product seem to be unhappy about the recent cut in Duty Entitlement Passbook (DEPB) rates. Exports worth around Rs 480 crore have been hit due to a recent notification from the Director General of Foreign Trade (DGFT).
	Centre may hike duty on aluminium The government is likely to hike import duties on aluminium and semi-finished aluminium products to avoid stock piling and prevent domestic prices from falling. According to dealers, the Indian Non-ferrous Metals Manufaturers' Association (INFMMA) has strongly urged the government to raise the custom duty on primary aluminium to 30% from the present 20%.		Ministry to explore cotton export potential The Union agriculture ministry is exploring all possibilities to promote cotton exports that earned Rs 2,023 crore in foreign exchange in the year 1996-97. For this purpose, a five-member high-level technology mission for cotton (TMC) has been proposed by the ministry.

Rao panel's package will jeopardise self-sufficiency in fertilisers
The high-powered Hanumantha Rao Committee, which submitted its report last month, on fertiliser pricing policy has rejected the much touted theory of basing domestic investment decisions on import parity pricing (IMPP), largely due to the wide price fluctuations in the global markets.

Price reversals catch tea producers on the wrong foot
Tea producers have been caught off-guard over a reverse trend in prices during the last few weeks which is in sharp contrast to the phenomenal rises over the last six months. The tea market appears to be in a slight tizzy as prices have plummeted by over Rs 10 to Rs 15 for certain varieties.

Crude imports rise on domestic demand
World edible oil prices to stay buoyant
ICPA plan to protect farmers from debt trap
Pepper looks up on fresh demand
Mangoes become dearer in TN
Commodity Briefing
"Weather-sensitive betel faces gutka threat"
Weak crude may pull down gas prices
Commodity Briefing
Pepper down on speculation; fall seen temporary
Kerala move may topple copra prices
Plastic exporters see no gain from new policy
Container shortage hits coffee exports
Chocolate makers' re-entry to boost cocoa
Commodity Briefing
Demand for limestone falls in tandem with steel
Exports not a solution for steel glut
How reliable are trend forecasts?