May gold imports fall
India’s gold imports fell an annual 39% in May, as record prices hit demand in the world’s top consumer at a time when sales were expected to rise because of a Hindu festival. May imports fell to around 17-18 tonne from 28.6 tonne in the same month a year ago, the head of Bombay Bullion Association (BBA) Suresh Hundia, said on Friday. He said the provisional data indicated that India’s demand would be weak for the rest of the year if prices remain near record levels highs or increase more.Imports fell because prices were too high, Hundia said.
Non-levy sugar for June
India has made available 1.7 million tonne of non-levy sugar for June, the government said in a statement on Friday. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis.