Government of India initiates probe into alleged jump in palm oil imports from Malaysia

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 […]

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De-dollarization push by China and Russia, among others might skyrocket gold prices even higher

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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 […]

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Reports indicate Iran could be China’s oil weapon

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 […]

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PM Modi calls upon farmers to cut usage of chemical fertilisers, pesticides

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 […]

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Vegetables prices soar up to 50% in Maharashtra and Karnataka on heavy rainfall

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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, […]

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Nickel’s fate hangs in balance as Indonesia considers early ban on exports

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 […]

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