India’s annual gas consumption is expected to increase by 25 billion cubic metres (bcm) in the 2020-2024 period which translates into a 9% annual average growth rate, the International Energy Agency (IEA) said in its latest report. India has plans to increase the share of gas in its energy basket to 15% by 2030 from […]
Farmers in Uttar Pradesh, Maharashtra, Haryana and Gujarat have increased sowing activities despite the rainfall deficit during the past fortnight. The India Meteorological Department’s (IMD) says monsoon has revived after a gap of three weeks. The overall acreage of summer crops at about 50 million hectare was still 10% below last year’s level. Sowing has […]
Global food commodity prices fell in June for the first time in 12 months, according to a benchmark United Nations report. The FAO Food Price Index averaged 124.6 points in June 2021, down 2.5 percent from May, but still 33.9 percent higher than its level in the same period last year. The decline in June marked the […]
The mid-year Gold outlook for 2021 released by the World Gold Council warns of the threats lurking on account of new variants of Covid, which may limit the uptake in gold jewellery in key markets. “Interest rates will likely remain key drivers of financial assets. Gold is no exception. Yet, the negative impact of higher […]
The growth of hydropower plants worldwide is set to slow significantly this decade, putting at risk the ambitions of countries across the globe to reach net-zero emissions while ensuring reliable and affordable energy supplies for their citizens, according to a new report by the International Energy Agency (IEA). Global hydropower capacity is expected to increase […]
Global cotton production is projected to return to pre-pandemic levels next year after a 7% decrease in 2020/21, the Interntional Cotton Advisory Committee (ICAC) said in its latest monthly report. Even better, global consumption has recovered from 2019/20 to post a 12.5% increase to 25.59 million tonnes in 2020/21 and is projected to improve further to 25.8 […]
Australia’s resource and energy exports are forecast to hit a record A$310 billion in 2020-21 and be even stronger in the 2021-22 financial year at A$334 billion on the back of strong demand for iron ore, base metals and new technology-related commodities. Minister for Resources, Water and Northern Australia Keith Pitt said in a statement […]
A reduced outlook for Brazilian maize is mainly behind a 3m t m/m (month-on-month) cut for world 2020/21 total grains (wheat and coarse grains) production, to 2,216m, the International Grains Council (IGC) said in its latest monthly report. With total consumption fractionally higher m/m and opening stocks trimmed, the carryover at the end of 2020/21 is lowered […]
Potent demand for offshore wind power has turned old industry enemies into allies as energy majors associated with fossil fuels team up with utilities, the chief executive of global wind power group Iberdrola said in an interview for the Reuters Global Energy Transition conference. Planting turbines twice the height of the Statue of Liberty off […]
World Steel Association (worldsteel) aid global crudes steel production for the 64 countries reporting to it was 174.4 million tonnes (Mt) in May 2021, a 16.5% increase compared to May 2020. It said in a statement that China produced 99.5 Mt in May 2021, up 6.6% on May 2020, while India produced 9.2 Mt, up […]
