Global cotton production for 2022/23 is lowered 1.2 million bales to just over 120 million bales with a marked decline in the U.S. crop and a slight decline for Brazil, the U.S. Department of Agriculture (USDA) said in its latest monthly agriculture supply an demand report. In its 2022/23 outlook, the USDA said global use […]
The barometer for world food commodity prices declined slightly in June for the third consecutive month, the Food and Agriculture Organization of the United Nations (FAO) said. The FAO Food Price Index averaged 154.2 points in June 2022, down 2.3 percent from May. The Index, which tracks monthly changes in the international prices of a basket of […]
The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on Thursday. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have […]
Gold prices finished 0.6% higher at the end of the first half of 2022, closing at US$1,817/oz, the World Gold Council (WGC) said in its mid-year outlook, adding that it saw inflation, political risks and interest rate hikes as key headwinds in the remaining months of the year. “The gold price initially rallied as the Ukraine war […]
India’s Commerce and Industry Minister Piyush Goyal said merchandise exports from India had reached $417.8 billion in the just-ended 2021-22 (April-March) financial year and are likely to exceed $418 billion, well above the target set by the government. India has achieved the highest monthly value of merchandise export in March 2022 amounting to $40.38 billion, […]
Good rains this season and GI tag for Kashmiri saffron has encouraged farmers in Jammu and Kashmir to produce saffron again. Many Kashmir farmers have been deterred from engaging in saffron cultivation as a result of the invasion of cheap Iranian saffron into Indian and international markets. Iranian saffron is up to 48% cheaper than Kashmiri […]
In a major boost to farmers, finance minister Nirmala in her budget speech announced Rs 2.37 lakh crore worth of MSP direct payments to wheat and paddy farmers in the Budget for FY22-23. “Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will give cover 1208 lakh […]
India’s exports of gems and jewellery surged by 71 per cent to $ 28.9 billion in the first nine months of the current financial year as compared with $ 16.9 billion recorded in the corresponding period of last fiscal, the government data showed. According to data released by the Ministry of Commerce and Industry, gems […]
India splurged a record $55.7 billion on gold imports in 2021, buying more than double the previous year’s tonnage as a price drop favored retail buyers and pent-up demand emerged for weddings that were delayed when the pandemic first hit. The 2021 gold import bill easily doubled the $22 billion spent in 2020 and surpassed […]
The demand for gold is likely to remain subdued this year following Covid-related disruptions that continues in India, the World Gold Council (WGC) said in a report. However, in 2022, the impact of pent-up demand for the precious metal is likely to herald a period of robust demand, the report suggested. Demand for gold may be more […]
