COMMENTARY – Higher sugar MSP positive, but domestic surplus situation overhung

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Authors: Ms. Khushbu Lakhotia, Senior Analyst, Corporate Ratings, India Ratings and Research (Fitch Group) & Mr. Jinesh Rajpara, Analyst, India Ratings and Research (Fitch Group)  The recent hike by Rs. 2 per kilogram (kg) in the minimum selling price (MSP) of sugar to Rs.31 per kg could generate an additional income of Rs.30-35 billion for […]

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Daily Masala

Here is what others are talking about this morning: Asian shares firm, dollar slumps on ECB’s tapering signal Gold hits 1-yr peak as dollar sags, N.Korea concerns support Oil prices rise on sharp drop in U.S. production as hurricanes bite Rare earth metals electrified by China’s illegal mining clean-up China’s iron ore imports edge up […]

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Two different impacts: Hurricane Harvey disturbed supply, Hurricane Irma could destroy demand

Things could get a lot more complicated in the days ahead with a potentially catastrophic Category 5 hurricane barrelling towards Puerto Rico, Cuba, South Florida and maybe the Gulf of Mexico. Hurricane Irma had sustained wind speeds of 180 miles per hour on Tuesday, which appears to be one of the strongest hurricanes ever recorded in the Atlantic.  It […]

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Oman decides to invest $120 million in Spanish uranium mine deal with Berkeley Energia

Gulf states seem to be shaking off their dependence on oil. The sovereign wealth fund of the Sultanate of Oman, has an option to acquire 37 per cent of Berkeley Energia, a London and Australia-listed company which is developing the Salamanca mine west of Madrid. Oman has agreed to invest up to $120 million in […]

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China slowdown affecting global agriculture commodities: RaboBank

Many developments in China, including the economic slowdown, have had an impact on the global markets for agricultural products, says Rabobank’s Food & Agribusiness Research department. “The stock market developments have led the prices for commodities which are imported in China, to decrease substantially. Financial investors are shifting money around and financial investors are looking […]

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Freeport to yield control of giant Grasberg copper mine to Indonesian government

US-based Freeport McMoRan Inc. has agreed to reduce its stake in the Grasberg mine, Indonesia to 49 per cent in exchange for licenses to operate the massive copper and gold pit until 2041. The world’s second largest copper mine announced that it was giving Indonesia a majority stake in its massive Grasberg copper and gold mine. A press […]

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Coal to account for 68 per cent of total power mix in India by 2026 – report

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Even as Modi’s government is keen to flood the Indian roads with electric vehicles by 2020, coal will remain the foremost fuel preference for India’s power sector, say experts. “Coal will remain the dominant fuel choice for India’s power sector, given the vast domestic feedstock available to power generators,” BMI Research said in the report. […]

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