Archive for January 15th, 2010

Govt. Pegged Economic Growth At 7.75 Percent

Govt. Pegged Economic Growth At 7.75 Percent

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The government today pegged economic growth for the current fiscal at 7.75 per cent, higher than all previous estimates, but said high food inflation remained a cause for concern.

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Moreover, Pranab Mukherjee also said that the government could unload surplus wheat and rice stocks for open market sale.

“There are enough wheat and rice stocks. Therefore, it is proposed to make open market sale for unloading of surplus stock,” he said.

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The food inflation after surging to 19.83 per cent in the third week of December softened to 18.22% as of the week ended December 26.

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The wholesale price based inflation was 19.835 in the previous week while potato remained costly increasing as much as 110% over the last year.

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This was followed by pulses whose prices jumped by 42.21% while vegetables turned expensive by 30.97% and onion prices rose by 40.07% on yearly basis.

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“A major area of concern is high food inflation; therefore collaborative efforts of the central and state governments are required to tackle this problem” Mukherjee said at the meeting.

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Economic growth stood at 7 per cent during the first half of the current fiscal, Mukherjee said.

He pegged GDP growth for the whole fiscal at around 7.75 per cent – a number that exceeds the initial estimates of the government as well as the RBI.

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Prime Minister Manmohan Singh last month stated that returning to a speedy expansion pace after a slow 2008 due to the global economic crisis; economy is expected to rise by 7% or a little more in the current fiscal.

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Why Commodities Trading? Know Now.. Part 1

Why Commodities Trading? Know Now

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Are you comfortable enough to answer these given questions with certain level of confidence and conviction?

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For example,

What do you think gold prices will go up further?

Are you sure that crude oil prices are going to fall?

Have you heard that the soya crop this year is bad and will result in soya prices going up?


If you think that your answers and predictions have a good chance of coming true and are willing to bet some money on them, you could try your hand at playing the commodity futures market.

You might have heard about stock future trading quite often.

Lets discuss about commodity futures, now..

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The commodity markets have changed a lot from the poky, little hole-in-the-wall trading offices in narrow streets next to crowded markets where traditional dhoti-clad merchants used to trade.


Now India’s boast of 3 major national level commodity exchanges which are :

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National Commodity and Derivative Exchange(NCDEX),

Multi Commodity Exchange (MCX) and

National Multi Commodity Exchange of India(NMCE).

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These brand commodities exchanges have been set up and these are fully computerized.


More and more stock brokers are setting up commodity brokerages as well, and trading volumes in commodity futures is widely predicted to rival the volume of derivative transactions (futures and options) on the stock exchanges.


What’s more, you can also trade online.

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Well  first lets talk on the need and importance of commodities trading.


Why commodities trading?


Well, let’s suppose you want to buy gold because you believe that the price of gold will rise.

You could then buy gold ingots, store them, wait for them to go up in price, and then sell them at a profit.


But, you have to be sure that the gold you buy is pure, you have to find a place to store it, you have to provide the security, transport it to vault and other such hassles.


Therefore,a far better way to invest in gold would be to buy gold futures from the commodities exchange. This is much advisable step.

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Next Blog we would touch upon issues like how can we do commodity trading, what is the process and how it works. 🙂

Stay Tuned for more and more on this 🙂


However For More latest Industry,Stock Market and Economy News Updates, Click Here

Industry Calls for 2 Lakh Tonne Duty-Free Rubber Imports

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Industry calls for 2 lakh tonne duty-free rubber imports

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Industry calls for 2 lakh tonne duty-free rubber imports

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The All India Rubber Industries Association (AIRIA) has urged duty-free import of 2 lakh tonne of rubber to ease the dual crises of steep rise in prices and the acute shortage of natural rubber.

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Indian rubber industry, with more than 90% in small or medium enterprises sector, has been severely hit, as natural rubber prices shot up from Rs 65 per kg in March 2009 to Rs 130 per kg in December 2009, an increase of 100 % in a short span of nine months.

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Domestic rubber production has been continuously falling short of consumption leading to its poor availability even during the ongoing peak rubber season.

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This, according to the ARIA officials, accelerates the price increase.

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In Other major Commodities Updates we have news on the Govt Plans to buy 280 lakh tone of rice for central pool.

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Govt plans to buy 2.8 cr tonne of rice for central pool

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The government hopes to buy 280 lakh tonne of rice for the Central Pool during the ongoing 2009-10 marketing season, more than earlier target of 260 lakh tonne, even as the grain production this year is expected to be lower by 13 million tonne.

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According to the latest official data, total rice purchases by the Food Corporation of India (FCI) and state agencies stand at 178.30 lakh tonne as on Thursday, slightly below 182 lakh tonne procured in the same period of the 2008-09 season.

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The country’s rice production from the current Kharif season is estimated to be lower at 71.45 million tonne, compared with 84.58 million tonne in the last year season.

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here