The government has initiated a probe into alleged jump in imports of a particular variety of palm oil from Malaysia, following a complaint from Solvent Extractors’ Association of India (SEA). Commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has found prima facie sufficient evidence that the imports have increased significantly and that has […]
The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]
Undeterred by the continuing skirmish with the Union mines ministry over mineral lease area limits, the Odisha government has decided to revive auctions of iron ore blocks, claims a report in Business Standard. A high-level committee of the state government has decided to issue the Notice Inviting Tenders (NITs) for auctions of 11 more virgin […]
Two reports out this week which could greatly impact oil prices indicate that leaders in Tehran are desperately urging China to purchase more Iranian crude: First, Reuters notes China continued importing Iranian oil in July for the second month since a US sanctions waiver ended, though at greatly diminished levels compared to the year prior, citing numbers from three data firms: According to […]
India’s vegetable oils import rose 26 per cent to 14.12 lakh tonnes last month on sharp jump in shipments of refined palm oil, the highest since May 2013, according to latest data from the Solvent Extractors’ Association of India (SEA). Imports of vegetable oils (edible and non-edible) stood at 11.19 lakh tonnes in July last […]
Prime Minister Narendra Modi made an emotional appeal to farmers to reduce use of chemical fertilisers and pesticides by 10-25% to save the soil. He invoked the sacrifices of freedom fighters and asked farmers to get blessings in saving ‘Mother Earth’ by reducing the chemicals used in agriculture. Pointing out that no one has the right to […]
Gold prices hit a new high this week amid fall in Indian rupee and political tensions in Honk Kong. Gold prices surged high on account of high demand for safe-haven at physical markets and tracking global trends. On the Multi Commodity Exchange (MCX), the most-traded October contract of the yellow metal shot up to Rs 38,666 per […]
Vegetable prices have risen 25%- 40% over the past week in western and southern India because of heavy rainfall in the region that has damaged crops and disrupted transportation. Traders in Mumbai, Belgaum and Indore said vegetable prices are likely to remain high until the next harvest in about two months, reports Economic Times. However, […]
India’s industrial production growth slipped to a four-month low of 2 per cent in June, mainly due to poor performance of mining and manufacturing sectors, according to government data released. Factory output, as measured by the Index of Industrial Production (IIP), had expanded by 7 per cent in June 2018. The previous low in IIP […]
Indonesia is weighing whether to advance the timeline for a planned ban on exports of mineral ores, the country’s trade minister said a day after nickel prices surged on speculation the Southeast Asian nation will halt shipments, Reuters reports. President Joko Widodo is gathering input from the Ministry of Energy and Mineral Resources about the […]
