This was up by 3% compared to the figure for the same period of the preceding year which was 17.95 million tons. Local news agency reported that Chadormalu Mining and Industrial Company which produced 6.5 million tons of iron ore stood first in the country in this respect, followed by Golgohar and Markazi companies with $5.44 million tons and $4.20 million tons respectively.
Sugar futures are likely to witness stockiest selling at higher levels on the account of strong sugar production in Maharashtra so far in the current year along with dearth of export demand in domestic market.
As per latest update from Maharashtra State Cooperative Sugar Factories Foundation, the millers in Maharashtra state have produced 2.73 million tonnes of sugar as on 31st December 2011, up almost 18.8% from the last year in the same period.
Moreover, sluggish export demand in domestic market might also add some selling in futures market . The Directorate of Sugar has only given the export permits for 22,578 tonnes till 18th December against the export limit of one- million tonnes due to sharp decline in international white sugar prices.
Technically, the NCDEX updates January Benchmark sugar futures are likely to witness some selling around Rs 2895-2900 per quintal while downside supports are likely at Rs 2860-2865 per quintal in the short term.
Sugar futures are likely to witness stockiest selling at higher levels on the account of strong sugar production in Maharashtra so far in the current year along with dearth of export demand in domestic market.
As per latest update from Maharashtra State Cooperative Sugar Factories Foundation, the millers in Maharashtra state have produced 2.73 million tonnes of sugar as on 31st December 2011, up almost 18.8% from the last year in the same period.
Moreover, sluggish export demand in domestic market might also add some selling in futures market . The Directorate of Sugar has only given the export permits for 22,578 tonnes till 18th December against the export limit of one- million tonnes due to sharp decline in international white sugar prices.
Technically, the NCDEX January Benchmark sugar futures are likely to witness some selling around Rs 2895-2900 per quintal while downside supports are likely at Rs 2860-2865 per quintal in the short term.
The purchasing managers index for the 17-nation euro zone's manufacturing sector rose in December from a 28-month low the previous month but still signaled a further contraction in activity. The Markit euro-zone manufacturing PMI rose to 46.9 in December from 46.4 in November, extending the recent stretch of contraction. Manufacturing growth in Q4 2011 weakest since mid-2009, according to Markit.
A reading of less than 50 indicates a contraction in activity, while a figure of more than 50 signals expansion. Production declined for the fifth successive month. The fall was less sharp than the 29-month record seen in November, though it remained steep compared with previous downturns prior to the financial crisis. Output and new business fell across the consumer, investment and intermediate goods sectors, with the latter reporting the strongest declines in both cases.
The downturn in the Eurozone manufacturing sector extended into a fifth successive month in December, as companies faced declining order inflows, a slowing global economy and ongoing financial market turbulence.
For the second consecutive month, all of the nations covered by the survey reported lower levels of output. Rates of contraction for production eased across all of the nations covered, although marked disparities persisted. Germany, France, the Netherlands and Austria all saw only mild falls, while marked contractions were seen in Italy, Spain and Greece.
The fall in production at euro area manufacturers reflected a seventh successive monthly decline in new orders received, which in turn reflected a combination of lower demand in domestic markets and reduced international trade.
A reading of less than 50 indicates a contraction in activity, while a figure of more than 50 signals expansion. Production declined for the fifth successive month. The fall was less sharp than the 29-month record seen in November, though it remained steep compared with previous downturns prior to the financial crisis. Output and new business fell across the consumer, investment and intermediate goods sectors, with the latter reporting the strongest declines in both cases.
The downturn in the Eurozone manufacturing sector extended into a fifth successive month in December, as companies faced declining order inflows, a slowing global economy and ongoing financial market turbulence.
For the second consecutive month, all of the nations covered by the survey reported lower levels of output. Rates of contraction for production eased across all of the nations covered, although marked disparities persisted. Germany, France, the Netherlands and Austria all saw only mild falls, while marked contractions were seen in Italy, Spain and Greece.
The fall in production at euro area manufacturers reflected a seventh successive monthly decline in new orders received, which in turn reflected a combination of lower demand in domestic markets and reduced international trade.
India's crude oil imports during November, 2011 were valued at US$ 10307.1 million which was up by 32.28 % than oil imports valued at US$ 7792.1 million in the corresponding period last year. Oil imports during April-November, 2011-12 were valued at US$ 94116.5 million, which was 42.67 per cent higher than the oil imports of US$ 65967.8 million in the corresponding period last year. The country's trade deficit for April-November, 2011-12 was estimated at US$ 116836.07 million which was higher than the deficit of US$ 93004.13 million during April-November, 2010-11.
Closure of world markets has transformed lead into a non impulsive commodity on MCX. Domestic metals prices take cues from the foreign markets but with closure of COMEX, LME and Shanghai commodities markets limited trades have took place in the metal since opening. The Lead markets got bashed by more than 22% in 2011 on LME. The prices closed year 2011 at $ 2002 per ton as against $ 2571 per ton at the initiation of the year. The fall in lead was due to slowdown of automobiles market that trimmed demand for batteries.
Indian Lead futures declined by far less percentage than its global counterpart. Lead futures in India deteriorated by just 7.8% in 2011 to Rs 107 per kg as against Rs 116 per kg at beginning of 2011. On Monday, lead is seen trading at Rs 107.7 per kg.
The global lead markets were in surplus in the first nine months of 2011. The world supply of Lead metals exceeded the demand by 170000 tons during the first nine months of the year 2011. Warehouse stocks of lead in LME, Shanghai, Producers and consumers increased by 242000 tons during Jan-Sep 2011.
Rio Tinto announces that it has, through an indirect wholly-owned subsidiary, acquired the remaining 7944151 Hathor common shares not already owned by Rio Tinto and its affiliates, representing approximately 5.87% of the outstanding Hathor common shares on a fully-diluted basis, pursuant to a compulsory acquisition under the Canada Business Corporations Act.
Rio Tinto is now the registered holder of 135290661 Hathor common shares, representing 100 per cent of the outstanding Hathor common shares on a fully-diluted basis. Accordingly, it is anticipated that the Hathor common shares will be delisted from the Toronto Stock Exchange effective at the close of business on 12 January 2012. Rio Tinto intends to cause Hathor to apply to the relevant securities commissions for it to cease to be a reporting issuer in all applicable Canadian jurisdictions following the delisting from the Toronto Stock Exchange.
As per the latest release from the Ministry of Agriculture, the public and private investment (Gross Capital Formation- GCF) in Agriculture and Allied Sectors (Agriculture including livestock, forestry & logging and fishing) has been growing steadily during the recent years.
The total investment in the Agriculture and Allied Sectors has increased from Rs.90710 crore in 2006-07 to Rs.133377 crore in 2009-10. Similarly, public investment has increased from Rs. 22987 crore in 2006-07 to Rs.23635 crore in 2009-10 and private investment has increased from Rs.67723 crore in 2006-07 to Rs.109742 crore in 2009-10.
The Government of India has launched several schemes to increase investment in agriculture sector, such as, the Rashstriya Krishi Vikas Yojana (RKVY), National Food Security Mission (NFSM), Development and Strengthening of Infrastructure facilities for Production and Distribution of Quality Seed, National Horticulture Mission (NHM), Integrated Scheme of Oilseeds, Pulses, Oil Palm and Maize (ISOPOM), Gramin Bhandaran Yojana etc.
The total investment in the Agriculture and Allied Sectors has increased from Rs.90710 crore in 2006-07 to Rs.133377 crore in 2009-10. Similarly, public investment has increased from Rs. 22987 crore in 2006-07 to Rs.23635 crore in 2009-10 and private investment has increased from Rs.67723 crore in 2006-07 to Rs.109742 crore in 2009-10.
The Government of India has launched several schemes to increase investment in agriculture sector, such as, the Rashstriya Krishi Vikas Yojana (RKVY), National Food Security Mission (NFSM), Development and Strengthening of Infrastructure facilities for Production and Distribution of Quality Seed, National Horticulture Mission (NHM), Integrated Scheme of Oilseeds, Pulses, Oil Palm and Maize (ISOPOM), Gramin Bhandaran Yojana etc.
In addition, Government has substantially improved the availability of farm credit; implemented a rehabilitation package for areas with higher agrarian stress; implemented a massive programme of debt waiver; introduced better crop insurance schemes; increased Minimum Support Price (MSP) etc., to improve investment in the farm sector.
Hecla Mining reported that Mine Safety and Health Administration has ordered the Silver updates Shaft at the Lucky Friday mine in Mullan, Idaho closed for removal of built-up material in the shaft. This order is pursuant to the investigation following the December 14, 2011 rock burst. Hecla's 2012 silver production is now estimated to be approximately 7 million ounces.
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