Nearly a third of India’s rice exports for January 2022 are stuck due to a shortage of freight trains. Most traders have stopped signing February export contracts to avoid demurrage charges, industry officials told Reuters. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and […]
India is setting up “green energy corridors” to cover the length and breadth of the country in two phases. “The Green Energy Corridor Project aims at synchronizing electricity produced from renewable sources, such as solar and wind, with conventional power stations in the grid,” India’s Ministry of New and Renewable Energy says on its website. One phase […]
India’s production of crude oil continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed. Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier against a target of 2.6 million tonnes. The output was, however, higher […]
Iron ore prices fell this week on signs of continuing economic weakness in China. The drop came despite a surprise easing of monetary policy by the Chinese central bank and also weighed on other Dalian steelmaking inputs and steel futures in Shanghai. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were […]
Western politicians contend that Russia is using its natural gas as a weapon in the political tussle tied to Ukraine, as well as delays in the certification of another controversial pipeline, Nord Stream 2. Russia, of course, has denied any connection. “There is absolutely no connection (to Nord Stream 2), this is a purely commercial situation,” […]
Diamond company, De Beers has implemented its biggest price increase for diamonds in years as the industry consolidates its recovery from the first pandemic-induced shutdowns. The Anglo American unit hiked prices by about 8% at its first sale of the year, according to Bloomberg. The sharpest increases of up to 20% were for smaller, cheaper stones. […]
The country’s edible oils import bill surged 75 per cent to Rs 1,04,354 crore during the first nine months (April-December 2021) of the current fiscal from Rs 59,543 crore in the year-ago period, a processors association said. According to Soybean Processors Association of India (SOPA) Chairman Davish Jain, during the first nine months (April-December 2020) […]
The Cotton Association of India (CAI) has reduced its crop estimates for the 2021-22 season by 12 lakh bales to 348.14 lakh bales of 170 kg each. The cotton body had previously estimated the crop for the season at 360.13 lakh bales. The association has attributed the reduction in crop estimates to the drop in […]
India’s oil-to-telecoms conglomerate Reliance Industries plans to invest as much as $ 76 billion in green energy projects in India over the next 15 years, the group chairman Mukesh Ambani, said. Last year, Reliance Industries had announced a commitment to invest more than $10 billion in three years in a new business unit that would build solar module, […]
China said it would raise domestic soybean output sharply in the next four years, in a drive to boost self sufficiency in supply of the oilseed, according to an official document. The country has set a goal to produce about 23 million tonnes of soybeans by end of 2025, up 40% from current output levels […]
