Here is what others are talking about this morning:
India’s sugar sector, which has remained beaten down for a long time now, is seeing the tide moving in its favour. With two consecutive years of weak monsoon, not only has it impacted sugar production in India but global output, too. Thus, sugar prices in the country have gained momentum and are much higher (Rs 5-6 a kg) than what they were last year.
In a blow to basmati players, the US has made registration with National Plant Protection Organisation (NPPO) mandatory for Indian exporters of aromatic rice.
Asian stocks rose on Thursday and safe-haven government bond prices fell as crude oil prices extended gains on hopes that big producers will cap production, improving investors’ appetite for riskier assets.
Mining shares extended a global rebound, with the world’s biggest producer BHP Billiton Ltd. reaching a six-week high in Australia, and copper miner Oz Minerals Ltd. hitting a three-year peak. Zinc led gains among base metals, although copper fell.
The oil world has been shaken this week by some of the biggest producers agreeing to freeze their output at January levels to contain a supply glut and prevent a further slide in prices, but markets show investors doubt this tactic will work.
India has halted its potash imports for the year to end-March and delayed negotiations for next year’s purchases until at least June, as droughts have dented demand in one of the world’s biggest fertilizer consumers, government officials said.