ICAC lowers global cotton consumption on COVID-19 impact, output estimates unchanged

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The International Cotton Advisory Committee (ICAC) said while the ultimate impact of the COVID-19 virus on the global cotton and textile industry was yet uncertain, the sector had been affected along with the general economy. Brands and retailers are cancelling orders, leaving spinners and textile manufacturers in Asia and Southeast Asia in a financial crisis, […]

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India’s oilseeds farmers should be allowed to sell directly at factory gates – SEA

The Solvent Extractors Association of India, the leading industry association of edible oil companies, is urging the government to allow oilseeds farmers to sell directly to the processing units, reports Ritwik Sinha. Currently, regulatory provisions allow farmers to only sell their produce at APMC or other designated mandis. However, given the Coronavirus crisis that has […]

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East Asian, Pacific economies face prospects of recession thanks global financial shock triggered by COVID-19 – World Bank

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The virus that triggered a supply shock in China has now cause a global shock and East Asian and Pacific economies, recovering from trade tensions and battling COVID-19, now face the prospect of recession thanks to the financial shock the world is facing, the World Bank said in a report. Sound macroeconomic policies and prudent […]

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Global food shortages possible due to Coronavirus hit on supply chains, says FAO

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The COVID-19 pandemic has put the world on a crisis footing, with unprecedented actions to restrict movements and plans for radical deployment of public funds to combat the threat posed by a novel coronavirus that knows no boundaries. Success will entail coherent and robust plans for our food systems. FAO Chief Economist Maximo Torero Cullen […]

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Lifting of restriction on movement of non-essential commodities in India draws mixed response

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India’s battle against the deadly Coronavirus may be far from reaching a conclusive stage, but the government surprised all by lifting restrictions on road transportation of non-essential commodities across the country, RITWIK SINHA reports. What that means is all trucks, which had been stalled at state borders due to lack of regulatory clarity, will now […]

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Global commodities: COVID-19 blues continue

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The only positive news during the week was from the International Grains Council (IGC), which forecast record world grains production in the 2020/21 season while warning projections were tentative until the progress and duration of the coronavirus pandemic becomes clearer. The inter-governmental body, in its first full assessment of the 2020/21 season, projected world grains […]

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