Everybody and their aunt are punting on gold during the pandemic, but none want to go to jewellery shops. This paradox is crushing the retail business in top consumer India, where traditionally the bulk of gold demand comes from jewellery. However, gold’s meteoric rise to record high prices and a nationwide lockdown to check the […]
India’s central bank governor Shaktikanta Das said on Wednesday that the nation’s economy is set for a gradual recovery as efforts to reopen businesses are confronted with rising infections of Covid-19. Addressing a webinar of the Federation of Indian Chambers of Commerce and Industry (FICCI) on the path forward from the pandemic, Das noted that some […]
Heavy monsoon rains have damaged India’s main summer-sown oilseed crop soybean, although the total output will still likely be higher than last year. “We think that the output could be around 105 lakh tons, instead of 115 lakh tons that we were anticipating at the start of the season,” said B.V. Mehta, executive director of […]
India’s beleaguered economy, led by the rural sector, is seeing green shoots recovery after easing of the covid-induced nationwide lockdown, according to the Confederation of Indian Industry (CII). Unlike previous years when recessions were triggered by the failure of monsoon, the current year stands in complete contrast when the June-September seasonal rainfall is expected to […]
National Collateral Management Services Ltd. (NCML), India’s largest private firm in post-harvest agri-commodities management business, is now seeking to expand its ambit and partner with food companies in providing them back end management support, its Managing Director and Chief Executive Officer Siraj Chaudhry said. He told indoasiancommodites.com in an interview that the company, with its […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.3 million tonnes (Mt) in June 2020, a 7.0% decrease compared to June 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production […]
Soaring prices of gold amid rising coronavirus cases have spooked buyers and hit demand in India, the world’s second-largest consumer of the yellow metal after China. Spot gold prices have risen to around $1,770/ounce, an eight-year high, while Indian prices have edged up to a new high of Rs 48,333/10 grams. Despite a reopening of […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.8 million tonnes (Mt) in May 2020, an 8.7% decrease compared to May 2019. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with next month’s production […]
Global coffee stocks at the end of the 2020-21 (Oct-Sept) season are expected to grow to near 42 million 60-kg bags, the highest in six years, as production grows more than consumption, the United States Department of Agriculture (USDA) said. In its semiannual report on coffee markets and trade, the USDA forecasts global coffee production […]
Agribazaar, India’s leading marketplace for agri-commodities trading, is expecting its gross trading value (GTV) to double this year following big-ticket reforms announced by the government recently giving farmers the option to sell to multiple buyers and not just in designated mandis. Speaking to indoasiancommodities.com, Amith Agarwal, CEO of the three-year old platform said Agribazaar had […]
