INDUSTRY UPDATES On 17th October, 2012

On 17th October, 2012

iron ore mining mess - CBI files charge sheet against Mr Yeddyurappa, kins and others

CBI on Tuesday filed its charge sheet against former Karnataka chief minister B S Yeddyurappa for allegedly granting undue favours in return for donations to a charitable trust run by his kin and thereby causing a loss of INR 890 crore to the exchequer.

In its charge sheet filed before special CBI court, the agency named as accused Mr Yeddyurappa, his sons Mr BY Vijayendra and Mr BY Raghavendra, his son in law Mr RN Sohan Kumar and others

CBI sources said the accused have been booked under IPC sections 120 B (criminal conspiracy) read with 109 (Abetment), 420 (cheating), 468 (forgery), 471 (forging of documents) besides relevant sections of Prevention of Corruption Act and Section 9 read with Section 4 of Karnataka Land (Restriction on) Transfer Act related to illegal mining.

Describing the conspiracy, CBI alleged that during 2006-10, the then Karnataka chief minister Mr Yeddyurappa’s kin Mr Vijayendra, Mr Raghavendra and Mr Sohan Kumar, in violation of laws, purchased a land in Bangalore for INR 40 lakh which was notified for acquisition by the state government. The land was denotified from acquisition by Mr Yeddyurappa in an alleged abuse of his official position in violation of various rules. The agency alleged that the land was later sold at exorbitant rates of INR 20 crore even though the guidance value of the land was INR 1.5 crore
(Steel Guru)
Iran cement and clinker exports surpass 6 MT

Iran exported over 6.8 million tonnes of cement and clinker during the first 6 months of the current Iranian calendar year which began on March 20th 2012

The exports grew by 26.4% compared to the same period last year. Exports of cement and clinker amounted to 1.21 million tonnes in the sixth calendar month of Shahrivar which ended on September 21th 2012.

Mr Vajihollah Jafari deputy industry minister of Iran said that Iran plans to produce 75 million tonnes of cement by the end of the current year. Iran produced over 66.4 million tonnes of cement in the past calendar year showing 8% rise compared to the year before.

Mr Mehdi Ghazanfari Industry, Mine and Trade Minister of Iran said that the country's cement production capacity will reach 110 million tons by 2015. Iran holds two percent of the world’s total mineral reserves. Some 5,000 mines are being exploited in the country. Around 340 million tonnes of minerals were extracted in the past year
(Steel Guru)
Free sugar export policy to continue: Thomas 
The Union government has decided to continue the free sugar export policy in the current 2012-13 marketing year that started this month, on expectation of higher sugar production than domestic demand, the Minister of State for Food, Prof. K. V. Thomas, said. 

"We have decided to extend the time for sugar exports under open general licence (OGL) by another year because we have sufficient domestic supplies," the Minister told newsmen here after a meeting with the Union Agriculture Minister, Mr Sharad Pawar. 
The government had kept sugar under OGL in May, which was to continue only up to September. 
The Minister said the government would not adopt a "switch-on and switch-off" trade policy on farm items. 
Prof. Thomas said that, according to Mr Pawar, sugar output in the 2012-13 marketing year (October to September) would be 23-23.5 million tonnes against about 26 million tonnes in the previous year. 
He informed that India, the world’s second largest sugar producer and biggest consumer, had exported about 3.5 million tonnes in the last marketing year.
(Exim India)
World wheat production prospects reduced this month
Global wheat production in 2012/13 is projected to reach 653.0 million tons, down 5.7 million tons this month. The largest change this month is a 3.0-million-ton cut in projected wheat production in Australia to 23.0 million. September rainfall is the most critical for wheat production in Australia, and this year, though precipitation in September improved in the province of Western Australia after it suffered a dry spell in July, accumulated soil moisture is still much below average.
In the provinces of the eastern part of the country’s wheat belt, rainfall was spotty and not well distributed, and crop development was delayed by unusually low temperatures. Because of the lack of moisture, some wheat fields are expected to be cut for hay or left unharvested, reducing expectations for harvested area, down 0.2 million hectares to 13.3 million.
Projected wheat production in Russia continues its decline as the wheat harvest gets closer to its end and projections for abandoned wheat area get higher, reaching 12 percent of planted area. This trend drives down area harvested by 0.7 million hectares to 21.8 million, and wheat production down 1.0 million tons to 38.0 million.
European Union (EU-27) wheat production for 2012/13 is reduced 0.8 million tons this month to 131.6 million, mostly because of a significant reduction for the United Kingdom (UK) (down 0.8 million tons to 14.0 million). UK is the third largest wheat producer in the EU-27 after France and Germany.
In contrast to the rest of Europe, abnormally high precipitation (around twice that of normal) and cool temperatures in the UK’s major wheat-producing areas reduced yields, and promoted diseases that lowered the quality of wheat. Revisions in the official wheat production estimates for other EU-27 countries offset each other with lower estimates for France, Greece, Austria, Ireland, Bulgaria, and Slovenia being counterbalanced by the increases for Sweden, Lithuania, Hungary, Romania, Slovakia, Latvia, and Finland.
Canadian wheat production is trimmed 0.3 million tons to 26.7 million as Statistics Canada surveys revealed lower yields. Algeria also reported lower preliminary wheat production, with a reduction of 0.3 million tons to 3.3 million. Wheat production in Kyrgyzstan is down 0.3 million tons to 0.6 million, as harvest reports indicate a decline in wheat yields. Wheat area in Uruguay is projected down 0.1 million hectares, based on planting intentions reported by its Ministry of Agriculture, reducing production 0.3 million tons to 1.6 million.
There are also small changes in wheat production this month in Sudan, Mongolia, Kenya, Zambia, Tanzania, Lesotho, and the United States.
Several revisions of the previous years’ wheat production estimates are made this month. Based on the latest Australian Bureau of Statistics (ABS) data, wheat production in Australia for 2010/11 is revised down 0.5 million tons to 27.4 million, while a production revision for 2011/12 is insignificant. Wheat production in Argentina is revised up 0.5 million tons for both 2010/11 and 2011/12 to 17.2 and 15.5 million tons, respectively, with higher estimated harvested area and unambiguous evidence of the increased use of wheat for exports and domestic consumption.
(Hellenic Shipping News)
India major ports cargo traffic up by 2.4pct in August

Major ports in India witnessed a 2.4% rise in cargo traffic in August, on the back of increased container, coking coal and petroleum shipments.

Tamil Nadu’s Ennore port witnessed a sharp 35% rise in cargo traffic in the month, the fastest rate of growth among the 13 major ports in India. The higher growth rate was achieved due to a 19.5% increase in thermal coal traffic at the port.

Traffic at the Jawaharlal Nehru Port Trust registered a record YoY increase of 4.8% during the month, driven by higher container volumes.

The other major port in Maharashtra, the Mumbai port saw an even higher rise in cargo traffic by 12.8% in August on account of a 30.9% jump in petroleum, oil and lubricants consignments. The volume of POL was even higher at the Kandla Port in Gujarat, which handled 4.8 million tonnes of these products during the month. Coupled with a 23% rise in fertilizer cargo, traffic at the port was up by 7.1% during the month.

The Visakhapatnam Port was the only major port to record a YoY fall in volumes in August. The port handled 1.1 million tonnes of POL during the month under review, compared to 1.7 million tonnes in the corresponding year ago period. Combined with a 40.4% decline in iron ore traffic, throughput at the port fell by 18.6% in August.
(Steel Guru)

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