A price war in the oil market and an unhealthy contest to produce more oil may soon end as the storage facilities are about to reach their full capacity. The bloodbath in the global crude oil market has led to the largest quarterly drop in the oil prices during quarter ending-March. The crude oil benchmarks […]
Research agency Fitch Solutions expects volatility to continue playing to the downside for metal prices in the coming weeks owing mainly to bearish investor sentiment on the back of the widespread Covid-19 pandemic. The agency notes that metal prices started the year on a strong footing as the Phase One trade deal between the US […]
The world’s largest steelmaker, ArcelorMittal, is reducing production and temporary idling steelmaking and finishing assets on a country-by-country basis in alignment with regional demand as well as government requirements, it said. The company has also decided to postpone its annual general meeting planned for May 5, with a new date to be communicated in due […]
The Maharashtra government on Tuesday has decided to procure 10 lakh litres of milk per day at Rs 25 per litre, reports Financial Express. Deputy chief minister Ajit Pawar said the collection of milk would begin in 4-5 days and continue for two months. He said the coronavirus outbreak and the resultant lockdown had hit […]
The supply of thermal coal in India has been declared as an essential service and officials are to maintain its critical dispatch during the country’s lockdown period, Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi said. India is currently going through a 21-day lockdown from March 25 to April 14 to combat the […]
The performance of domestic steel makers is likely to be adversely impacted in Q1 FY2021 as a result of Covid-19 pandemic and the 21-day nationwide lockdown. As per an ICRA note, domestic firms may have to face challenges such as weak domestic demand, which is likely to lead to inventory pile up exerting pressure on […]
The gems and jewellery exports are expected to witness a sharp decline in March as well as in the first quarter of the next fiscal due to disruptions caused by the Coronavirus outbreak. An industry that is largely trade-oriented and attracts over over 5,000 exhibitors and 1,00,000 buyers at various trade fairs has witnessed a […]
Uttar Pradesh, Madhya Pradesh, Gujarat and Rajasthan are starting wheat procurement from April 2 as the crop has matured in these states. Punjab and Haryana will begin purchase of the grains from April 15 and 20, respectively. Notwithstanding a delayed start due to the outbreak of Covid-19 that forced the Centre to enforce a 21-day […]
The only positive news during the week was from the International Grains Council (IGC), which forecast record world grains production in the 2020/21 season while warning projections were tentative until the progress and duration of the coronavirus pandemic becomes clearer. The inter-governmental body, in its first full assessment of the 2020/21 season, projected world grains […]
Recently in Netherlands and Denmark farmers dumped and destroyed tonnes of orchids for lack of exports and buyers. The orchid season of the Dutch countries is all but over, thanks to COVID-19. In India too, roses seem to have lost their charm and fragrance, at least for growers in Maval region of Maharashtra who are […]
