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REUTERS & AGENCIES
Turkey tender to sell durum: Turkey's grain board (TMO) said that it would hold a tender on July 31 to export an unspecified amount of barley and durum wheat. The tender announcement, published in the press, said the tender would be held publicly at the TMO head office in Ankara. A TMO official told Reuters on Wednesday the state agent would sell an unspecified amount of barley and wheat, without indicating that the wheat to be offered would be durum. TMO sold 135,000 tonnes of wheat in a tender earlier this month.
Indonesia to buy cooking oil: Indonesia's commodity regulator Bulog plans to buy 683,000 tonnes of cooking oil from private companies and state-run plantation companies until December to help stabilise prices, Bisnis Indonesia newspaper reported on Friday. It quoted Derom Bangun, chairman of the Association of Indonesia's Palm Oil Producers, as saying Bulog would buy 494,000 tonnes of cooking oil from private companies and another 189,000 tonnes from state-run plantation Turkey tender to sell durum: Turkey's grain board (TMO) said that it would hold a tender on July 31 to export an unspecified amount of barley and durum wheat. The tender announcement, published in the press, said the tender would be held publicly at the TMO head office in Ankara. A TMO official told Reuters on Wednesday the state agent would sell an unspecified amount of barley and wheat, without indicating that the wheat to be offered would be durum. TMO sold 135,000 tonnes of wheat in a tender earlier this month.
Indonesia to buy cooking oil: Indonesia's commodity regulator Bulog plans to buy 683,000 tonnes of cooking oil from private companies and state-run plantation companies until December to help stabilise prices, Bisnis Indonesia newspaper reported on Friday. It quoted Derom Bangun, chairman of the Association of Indonesia's Palm Oil Producers, as saying Bulog would buy 494,000 tonnes of cooking oil from private companies and another 189,000 tonnes from state-run plantationcompanies through a tender this month. Bangun said Bulog would start buying the cooking oil at 4,950 rupiah/kg ex-factory in Jakarta and at 4,785 rupiah/kg ex-factory in Sumatra. The paper said the agreement was reached between Bulog, the director-general of domestic trade and a team consisting of major crude palm oil (CPO) producers. CPO is refined into olein, which is used as cooking oil.
Sugar prices continue to drop: In New Delhi, sugar mill delivery (mill gate) prices remained under pressure and lost further ground on the local sugar market today. Sugar spot ready remained steady on sporadic support. In sugar mill delivery (mill gate) Modi Nagar and Titabi slipped further by Rs five and Rs two to settled at Rs 1425 per quintal respectively. Baghpat also shed Rs five to finished at Rs 1410 per quintal. Following were today's quotations in Rs per quintal: sugar ready M-30 1520-1550, sugar ready S-30 1520-1535, sugar mill delivery M-30 1380-1450, sugar mill delivery-S30 1390-1410, sugar old NT.,imported sugar 1525-1530, sulphur bold 1420-1460, sulphur mini medium 1420-1440, sulphur dust 1390-1435, sulphur galawat 1300-1330, sulphur cutting 1320-1370 and khandsari crusher 1395-1420.
Jaggery steady: In Muzzafar Nagar, steady conditions persisted on the primary (jaggery) market today with prices moved in limited range on small bouts of buying and selling and close around previous level. Lower upcountry advices were also led the flat trend.
TN ryots get new HYV seeds: Tamil Nadu Agricultural University has introduced 16 improved crop varieties, two mushroom varieties and three farm implements to increase productivity in connection with country's golden jubilee year of independence. Two rice hybrids, adtrh1 with 115 days duration and corh2 maturing in 125 days, were released, university vice-chancellor, Dr A Abdul Kareem said in a release today. Tkm-11, a high yielding rice variety for upland conditions and a cosmopolitan higher yielding adt43 rice were also released for the farmers ofTamil Nadu, he said. A special table purpose baby corn variety, cobc1, that could be harvested in 55-65 days, has been released, he said. To increase the production of non-edible oil, a hybrid castor tnvch-1 was released for the first time in Tamil Nadu, Abdul Kareem said. The sugarcane scientists have brought out three cane varieties coc98061, cos198071 and co86249 showing moderate levels of tolerance to red rot disease, which elude solution thought plant protection measures, he said.
Petron slows down on refining: Petron Corporation said that it recently cut back its crude refining activity to about 140,000-150,000 barrels of oil per day from its 180,000 barrels bpd capacity. It said the lower prices of finished petroleum products in the world market and the cut in jet fuel demand by customer Philippine Airlines Inc (PAL) contributed to the reduced refining activity. PAL, suffering from the downturn in Asian aviation as a result of the region's financial crisis, was hit by a pilots' strike lastmonth and is seeking to dispose of most of its fleet. Petron, 40 per cent owned by Saudi Aramco, is the Philippine's largest refiner.
Nymex Access weakens: September Nymex crude on Access weakened by eight cents per barrel to $13.80 on Friday, extending its overnight fall. The contract settled 28 cents down at $13.88 in New York, pulled down by profit taking and the weaker products futures prices. While Simex Brent was quoted softer at $12.55/$12.60, moving in tandem with Nymex prices.
Thymol, tartaric acid slide: In New Delhi, thymol and tartaric acid france declined marginally on the local chemical market today as the local product was sold at the lower rates. Thymol moved lower by Rs 5 (per kg) at Rs 125 from previous close of Rs 130 and tartaric acid France (superior) eased by Rs 10 to settle at Rs. 440-450 from previous Rs. 440-460 respectively. Menthol flake and bold slumped further by Rs. 15-14 at Rs. 460 and Rs. 428 (per kg) on increased inflow from the new crop coupled with poorofftake. Menthol oils also fell from Rs. 332 to Rs. 320 (per kg).
Copra Rajapur drops: Prices of copra Rajapur fell steeply on the spices market in Mumbai due to increased arrivals while other spices held steady. Copra Rajapur declined sharply by Rs 350 per quintal to close at Rs 4050. Following were today's rates per quintal. (previous rates in brackets). Pepper ready (50 kg) Rs 10,800/11,800, ginger bleached Rs 3200, ginger unbleached Rs 3500, copra office (Alapuzha) Rs 2800, copra office (Kozhikode) Rs 2775, copra Rajapur (Mumbai) Rs 4050 (Rs 4400) and copra edible (Mumbai) Rs 3700 (Rs 3700).
Cotton stays firm: In Coimbatore, prices of all select cotton varieties ruled steady at the South India Cotton Association today. (prices per quintal and in Rs): Bengal deshi fine (Pjb) 4447, Wagad (Guj) 4358, V-797 (guj) 4584, Jayadhar (Ktk) 4682, J-34 (Pjb) 5358, F-414 (TN) N Q, LRA-5166 (TN) 5539, H-4 (MP) 5708, lk-29 (AP) 6215, Shankar-6 (Guj) 6355, MCU (AP) 7030, DCH-32 (Ktk) 8492. Group-1Maharashtra varieties: Mech-1 yeotmal/Amravati 5990, H-4 yeotmal/Amravati 5990, LRA-5166 Nagpur/yeotmal 5680, NHH-44 yeotmal/Amravati 5441, AK.h-4/AK.235 5343, 1007 yeotmal/Amravati 5343, AHH-468 yeotmal/Amravati 5343.
Tin ends higher: In New Delhi, tin and solder prices shot up on the non-ferrous metal market today influenced by a high trend on London Metal Exchange (LME) market and closed with gains. Marketmen said a sharp surge in tin prices was mainly on firm trend on LME and fresh buying by local parties. Tin ingot was higher by Rs.6 at Rs.372-373 per kilo on brisk buying support. Solder (40 per cent) was up by Rs.3 at Rs.165 per kilo on paucity of stocks. The volume of business was fair. Following were today's quotations per kilo: tin ingot 372-373, solder (40 per cent) 165, nickel 260-261, zinc slab 76.50, zinc dros 63, bell metal scrap 152, copper wire bar 126, copper rod 129.50, copper wire 136.50, copper scrap 105-107, chadripital 85, brass sheet cutting 88-90 and brass boring 73.50, leadingot 38.50, lead imported 49, aluminium (22 gaue) 98-100, aluminium (30 gauge) 106-110, aluminium (36 gauge) 113-117, aluminium rod 95, aluminium cg ingot 87, aluminium wire scrap 80 and aluminium utensils scrap 71.
Investment in mineral sector up: The mineral sector have attracted foreign investment of over Rs 3,000 crore in the last three years, union minister of steel and mines Patnaik said today. "Foreign proposals amounting to Rs 3,095 crore in 48 projects have been approved by Foreign Investment Board (FIPB) in mineral sector during November 1995 and mid-July 1998,"Patnaik told the parliamentary constitutive committee meeting. The department of mines has approved prospecting over large areas in respectof 36 cases covering an area of about 52,000 square kilometres in the states of Rajasthan, Gujarat, Maharashtra and Bihar, he said. Geological Survey of India, Indian Bureau of Mines and Mineral Exploration have signed four new agreements with BRGM.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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