Drough spares domestic commodities
In spite of severe drought in major oilseeds-producing states of Gujarat and Rajasthan, commodity prices in the domestic markets remained sluggish. Both these states are responsible for the overall supply of edible oils in the country. Usually, traders are quick to jack up prices of essential commodities on the slightest indication of possible shortage in these commodities.

Loose edible oil sales ban
The ban on sale of edible oil in loose form is likely to hit hard the livelihood of millions of self-employed ghani/chekku operators in the country. Moreover, it will also affect large sections of less privileged people who buy their edible oil requirement on daily basis, affected traders say. The machinery required for packing edible oil is a costly affair, so the ghani operators and traders would be unable to invest thereby would be forced to close down their units, they add.

Cardamom prices slip
Cardamom prices at the auctions in Kerala and Tamil Nadu centres have slipped over the last week with a couple of new developments affecting both auctions and the movement of cardamom to upcountry centres. Change in the commercial tax structure announced by the Tamil Nadu government over the week ended April 15 has seen Tamil Nadu buyers not attending auctions in Kerala the following week.

Pepper exports seen down in 2000
A cold US market, high prices and competition from South East Asian origins are likely to dent India's sway over the global pepper trade in the current year. Signs of Indian pepper losing flavour in major European destinations are already evident with the exports slipping to lower levels during the first four months of the running year. Marketmen said that last week's spurt in prices in the domestic market was triggered by the scramble by traders to buy ready goods to cover their positions.

Menthol crop faces uncertain future
Menthol crop has a made a tiny and an uncertain beginning in Tamil Nadu near Sriperambudur, near Chennai. The crop is grown in large tracts of Uttar Pradesh which supplies not only India's requirement but also the bulk of the global requirement. To reduce the volatility in pricing, and reduce freight costs, industry users are encouraging production of the same in the South, to the mutual benefit of farmers and industry.

Ministry, experts differ over zinc deficit
The perceived shortage in domestic zinc production is expected to be less severe than what ministry of mines (MoM) has projected, feel analysts. The MoM says the deficit for zinc in the country is expected to increase in the current fiscal due to revival of the economy and high growth of steel and automobile industry. MoM figures indicate that the deficit of zinc is expected to increase to 1,16,900 tonnes in 2000-01 from 1,05,000 tonnes in 1999-2000.

Aluminium consumption seen up
Domestic aluminium consumption is expected to grow by a compounded annual growth rate of between 8-9 per cent over the next 4 years to reach 878,000 tonnes in the year 2004-05. This was stated by Hindalco Industries whole-time director and president AK Agarwala, last week, while announcing the results of Hindalco Industries Ltd.

Petrochemical output up 16%
Total production of petrochemicals in the country during 1999-2000 is estimated to be 66.60 lakh tonne. This marks a more than 16 per cent increase over the production figure of 56.76 lakh tonne in the previous year. The increase resulted mainly due to an expansion in installed capacity. During the year, capacity was enhanced to 75.58 lakh tonne from 63.15 lakh tonne in 1998-99.

Leather footwear exports rises
Indian leather footwear industry has developed well and is slowly moving towards exporting shoes as per the specification of the quality conscious customers in advanced countries such as US, UK, Italy among other countries. According to DGCI&S Calcutta, footwear exports which were to the tune of $232.19 million during the period April-Dec 1998 has increased by 5.44 per cent to $244.81 million during the same period in 1999. This upward tendency is certain to continue in the months to come.

Crude throughtput at Haldia up
The throughput of crude at the Haldia oil jetty of the Calcutta Port Trust (CPT) is still below one lakh tonne for the third consecutive week beginning April 21. According to CPT figures, the throughput was 68,439 tonne during this period compared to 55,960 tonne and 81,000 tonne in the past two weeks. The fall, according to CPT sources, is caused by the lack of ship-to-ship crude handling both at the Sandheads and Saugar anchorage.

Cotton yarn export prospects bleak
Prospects for exports of cotton yarn from the country to European quota markets appear bleak at present, if one goes by the dismal response by export firms to a proposal to issue allotments for exports to those markets under the FCFS Ready Goods System. Under this system applications for allotment of quotas are invited from those firms which have goods ready for exports and are also holding the letter of credits.