Iron prices are set to increase from March 2020 as the Odisha government annulled three rounds of bids called in to auction 20 iron mines whose leases are expiring in March. The fresh bid documents were released on December 6 with original timelines maintained. In an attempt to stop cornering of mines by one single […]
The United States Department of Agriculture (USDA) has raised its forecast for global 2019/20 oilseed production by 3.3 million tonnes to 574.6 million tonnes, with greater soybean, sunflower seed, and peanut production partly offset with lower rapeseed and cottonseed forecasts. China’s soybean production is projected up 1.0 million tons to 18.1 million tonnes reflecting higher […]
The United States has surpassed Kuwait to become India’s sixth largest oil supplier as it supplied 70 per cent more crude to the world’s third largest energy consumer during April-September. According to data furnished by the oil ministry to parliamentary committee, the US supplied 5.4 million tonnes of crude oil during the first six months […]
India’s crude steel production for November 2019 fell to 8.92 million tonnes, down 2.9 per cent year on year and 1.8 per cent lower against October, provisional data released earlier this week by the Joint Plant Committee (JPC) showed. Likewise, finished steel production in November fell to 7.80 million tonnes, 7 per cent lower than […]
Netherlands-based Nedspice estimates global pepper production to decline this season by 74,000 tonnes for the first time after several years, mainly driven by unfavourable weather in Vietnam, reports Financial Express. However, the mismatch between global supply and demand of the spice will continue to put pressure on the price with supply seen higher by almost […]
China is expanding its offshore oil and gas scene, undeterred by compliance, transparency, corruption or environmental issues that plague so many oil-rich countries. Chinese development banks are willing to lend billions to oil-producing countries in Latin America and Africa, and its state-run oil companies are willing to invest in projects others fear to touch. This […]
The parliamentary standing committee on coal and steel said that the issue of high-operating costs of coal mines run by the PSUs requires the Union coal ministry’s “serious consideration”. During FY19, the lowest operating cost of an open cast (OC) mine owned by Coal India Ltd (CIL) was Rs 455.5 per tonne, while the highest cost was […]
Gold-backed ETFs saw $1.3 billion of net outflows across all regions in November, according to the latest monthly data from the World Gold Council (WGC), driven by a stronger dollar, a Brexit extension, and stronger equity markets from September and October highs. However, global gold-backed assets under management still grew 35 per cent this year as a […]
The Goa High Court has asked the Food Safety and Standards Authority of India (FSSAI) to submit a report on specific standards regarding naturally-occurring formalin in fishes. The court has asked the apex food regulator to submit its report last month by November 28, 2019. According to reports, it has directed FSSAI’s executive officer to […]
China is expanding its offshore oil and gas scene, undeterred by compliance, transparency, corruption or environmental issues that plague so many oil-rich countries. Chinese development banks are willing to lend billions to oil-producing countries in Latin America and Africa, and its state-run oil companies are willing to invest in projects others fear to touch. This […]
