Giving boost to the ongoing hybrid development programme at the CCS HARYANA Agricultural University, scientists here have developed two new hybrids of ``sunflower'' and ``bajra.'' Director of research BL Jalali on Wednesday said qualitatively both the hybrids are superior to their existing counterparts. The new sunflower hybrid -- HSFH-848 -- bears flowers with large head size, embedded with bold seeds and its oil content is 40 per cent and takes 98 days to mature. Another hybrid HHB 117 of bajra is good for both grain and fodder purpose as it remains green up to maturity, he added. He said the new sunflower hybird was better than the widely grown ``jawalmukhi'' hybrid. After having evolved about 140 genetically improved varieties of various field crops, fruits, vegetables, greater emphasis was now being placed on developing hybrids in commercially important crops, Jalali said. Research on rice and barley hybrids was in an advanced stage, he said addingthat all the hybrids developed at Hisar had received wide acceptability among the farmers.

HK gold closes firmer

Hong Kong spot gold closed firmer at the day's high on Wednesday after a weakening of the US dollar against the yen in the day. Bullion ended at US$255.60/256.10 an ounce, up from New York's US$255.30/80 close on Tuesday. It opened in Hong Kong at US$255.40/90. ``The weaker US dollar against the yen pumped up some buying interest in gold,'' said a dealer at a local investment house.`` But the local market was very quiet and the price of gold stayed within a 40 US cent range all day. ``Gold is likely to stay in a tight range and lacks clear direction,'' the dealer added. ``The gold market is seeking direction by watching the dollar/yen movements.'' Spot silver ended at US$5.18/21 an ounce after closing in New York at US$5.15/18 on Tuesday

China's silver industry

China will liberalise the silver industry along the lines of its recent reform of other non-ferrous metal industries,an industry expert said on Tuesday. The central government had approved reform plans for the silver industry and ``soon silver will enter the market completely as other non-ferrous metals,'' general manager of Xinda Gold and Silver Development Centre, Zhao Zude told a conference. He did not give a timetable for the reforms.Up until 1994, the silver industry in China was almost wholly state-owned and managed and under the responsibility of China's central bank, the People's Bank of China (PBOC). Xinda Gold and Silver was set up in October 1994 as part of the reform of the industry. It was initially charged with managing the funds or budget earmarked for silver exploration and development, Zhao said. The company gradually took over the running of the main independent silver mines which account for about 10 per cent of total national production. In early 1998, China dissolved the state monolith, China National Nonferrous Metals Corp (CNNC), and thereby cut loose the holding company's 475 enterprises. In Augustof this year, the government set up three non-ferrous metal groups in its place: the China Aluminium Group, the China Copper, Lead, Zinc Group, and the China Rare Earth Group. Demand for silver in China was likely to rise with the relaxation of government controls and the industry could go through a period of ``irregular competition'' following the implementation of reforms, Zhao said.

US dairy farmers

Congress was the last hope for dairy farmers on Tuesday to stop sweeping reforms due to take effect in one month, including lower wholesale milk prices in many parts of the United States. The reforms, which update the so-called ``milk marketing orders'' that help determine the price of milk in the grocery store, were vocally opposed by farmers in the the East, South and Southwest. Lawmakers from those regions want to overturn the reforms legislatively, but face an October 1 deadline to act. A test vote in the Senate failed in early August.``We will continue to urge members of Congress to expeditechanges in the ... programme so that producers ultimately will be offered a programme they can live with,'' said a leader of the National Milk Producers' Federation, Jerry Kozak. Farmers approved the reforms in a nationwide voting that NMPF described as grudging and reluctant. A ``no'' vote would have ended federal rules that set a minimum price for fresh milk bound for grocery stores. ``Although the (agriculture department) plan was approved in each of the regions, it was affirmed with great reluctance,'' Kozak said. The USDA plan called for higher ``fresh'' milk prices in the Midwest while holding down prices in the East, South and Southwest.