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 […]
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 […]
India has exported 75 lakh tonnes of sugar till May 18 in the current marketing year ending September, the Food Ministry said on Thursday. Sugar marketing year runs from October to September. “Export of sugar in current sugar season 2021-22 is 15 times of export as compared to export in sugar season 2017-18,” the ministry […]
Edible oil maker, Ruchi Soya Industries has acquired the entire food business of Patanjali Ayurved under business transfer agreement in a bid to make Patanjali the world’s largest FMCG group. According to a news release by Ruchi Soya Industries, the amount of consideration for the acquisition is Rs 690 crore on a slump sale basis, […]
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 […]
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 […]
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 […]
With cotton and yarn prices on the rise, cotton industry stakeholders met textiles minister Piyush Goyal to urge the government to ban export of cotton and textiles as a temporary measure to calm down the prices. Among the major suggestions that the industry came out with include a short-term ban on cotton exports, as no farmer is […]
India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd after failing to attract suitors for the whole firm, two officials said, as the government’s divestment programme moves slower than expected. New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its […]
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 […]
