PRESS DIGEST - Indian Commodity News - April 11

MUMBAI, April 11 (Reuters) - Indian newspapers carried the following stories in their print or Web editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

ECONOMIC TIMES (www.economictimes.com)

* The Forward Markets Commission (FMC) is formulating new guidelines for new commodity exchanges and the upgradation of existing regional commodity exchanges to national status., B.C. Khatua, chairman of FMC said.

BUSINESS LINE (www.blonnet.com)

*Indian edible oil importer who had purchased crude palm oil at prices as high as $1,400 a tonne CIF sometime in February are wriggling out of the obligation as the market has undergone a sharp correction of up to $300 a tonne.

FINANCIAL EXPRESS (www.financialexpress.com)

*The reduction in custom duty to 7.5 percent may pull down prices of olive oil by 15 percent in next few days.

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(Compiled by Mumbai commodities team ; Editing by )