Akshaya Tritiya 2021: Gold and silver marginally on MCX on Akshaya Tritiya day, the day considered by many as an auspicious to make purchases of precious metals.
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New Delhi China is expected to lower its palm oil purchases in the 2021-22 marketing year, spanning October 2021-September 2022, as it looks to ramp up domestic edible oil production a move that can help reduce reliance on vegetable oil imports.
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China s Agriculture Outlook Committee, or CAOC, lowered its forecast for 2021-22 palm oil imports to 4.2 million mt from the 2020-21 estimate of 4.5 million mt, according to the Chinese Agricultural Supply and Demand Estimates, or CASDE, report released May 13.
This was contrary to a May 12 report by the US Department of Agriculture s Foreign Agricultural Service, which sees China s 2021-22 palm oil imports to grow to 7.2 million mt, up almost 6% from 2020-21 levels.
Cooperators moot idea of separate Ministry for “Co-operative Sector”
MoS Rupala asked participants to speak freely and frankly
The crucial meeting of co-operators from different sectors which was called by NCUI on Tuesday, proved a gamechanger with the idea of a separate ministry for co-operative getting support from all quarters.
It has been our long-time demand as we always felt that the subject “cooperation” does not get its due attention on account of being a part of the Agriculture Ministry, said NCUI President Dileep Sanghani to the Indian Cooperative.
The virtual meeting which was attended by more than 40 leaders and addressed by Union Minister Parshottam Rupala, reiterated demand for a separate ministry for the cooperative sector.
Gold futures up on spot demand; silver trades high
Gold prices on Thursday rose by Rs 155 to Rs 47,155 per 10 gram in the futures trade as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for the June delivery traded higher by Rs 155, or 0.33 percent, at Rs 47,155 per 10 gram in a business turnover of 10,252 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said.
Gold prices traded 0.46 percent higher at $1,792.50 per ounce in New York.
Silver prices rose Rs 716 to Rs 70,335 per kg in the futures trade on Thursday as participants widened their bets on a firm spot demand.