Indonesia lifts ban on export of edible oil on improved supply; prices likely to reduce

Indonesia said it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. President Joko Widodo said exports will resume from Monday next. Indonesia and Malaysia are the world’s largest exporters of palm oil, which plays an important role in their economies. They account […]

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India to seek exception from World Trade Organisation (WTO) for exports of grain 

India is likely to push for “special carve-outs” in the World Trade Organization (WTO) rules in its ministerial meeting starting June 12. The “carve out rule” allows a country to ship out grains from its official reserves under exceptional circumstances to help address a global food shortage.  At present, WTO rules make it difficult for […]

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WAAREE Energies secures new orders for solar panels worth $2.37 billion

Indian solar photo-voltaic (PV) module manufacturer Waaree Energies has secured new orders worth $2.37 billion from customers both in the domestic and international markets. The orders are for supplying high-efficiency bifacial solar panels of 540Wp (watt peak) and 600Wp, Waaree Energies said in a statement. These panels will be produced in Waaree’s manufacturing facility using […]

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Prices of food items continuing to increase in May, says RBI report

Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee’s (MPC’s) surprise move to increase interest rates bodes well for its credibility. The RBI’s monthly State of […]

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India’s steel exports likely to remain strong on regional demand: Moody’s

India’s steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports, according to Moody’s Investors Service. In its report ‘Steel Asia Pacific: Higher raw material costs reduce benefit of steel price gains amid Ukraine conflict’, Moody’s Investors […]

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Offshore wind energy projects to face shake-up as tenders adopt new criteria: Wood Mackenzie Report

To determine the winners and losers in a highly competitive industry, like offshore wind farms, a new set of factors beyond bidding price is gaining traction in global tenders to award licences, said a new report by energy research firm Wood Mackenzie. “The focus is now shifting to multiple criteria to determine tender and lease […]

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