India is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains, according to latest government data. Wheat production has been rising year-on-year and the previous record of 103.60 million tonne was achieved during the 2018-19 crop year (July-June). Wheat is the main rabi (winter) crop, harvesting […]
Global shrimp prices are expected to face pressure over the next few months as global trade adjusts to the changing demand dynamics in China, a key importer and consumer of farmed shrimp, credit rating agency ICRA said. The report revealed that India is also likely to be affected from not only a reduction in Chinese […]
The gems and jewellery industry urged the government to reduce the import duty on precious metals, cut and polished diamonds and gemstones and amend taxation laws to give domestic traders a level playing field in the global market. Speaking at the 13th edition of the India International Jewellery Show (IIJS), Gem and Jewellery Export Promotion Council (GJEPC) Chairman […]
Inaugurating the UN World Pulses Day celebrations in New Delhi, Union Minister for Agriculture & Farmers Welfare Narendra Singh Tomar said that initiatives of the Government in increasing pulses production in the country yielded positive results and Government is committed to provide remunerative prices to farmers for the produce, a release by Press Information Bureau […]
Global gold demand declined to 4355.7 tonnes in 2019, down 1% on 2018, according to the World Gold Council’s latest Gold Demand Trends report. The year 2019 was broadly one of two distinct halves; resilience and growth across most sectors in the first six months contrasted with widespread weakness in the second. Central bank demand […]
India’s potato production increased 51 per cent to 52.5 million tonnes (MT) in over a decade, Union Agriculture Minister Narendra Singh Tomar said. Its production had stood at 34.7 MT in 2008, the minister added. Tomar pegged the potato output to grow about 3 per cent annually till 2050. Addressing a Global Potato Conclave in […]
Gold and silver prices were trading lower as Indian rupee opened stronger against the US dollar on Tuesday. Comex gold was unchanged at $1,580 and MCX gold witnessed a minor correction since rupee has strengthened on Tuesday morning. Traders will further observe the outcome of the US Fed meeting on 28th and 29th January. Meanwhile China’s death […]
Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]
The Indian government said it was raising the minimum support price (MSP) for rabi crops that will hit the market in 2020-21, with the highest increase marked for lentils. A government statement said that the increase in MSP was in line with the principle of fixing these prices at a level of at least 1.5 […]
Cotton prices continued to reduce in August 2019, mainly due to a fall in international prices, rating agency India Ratings and Research (Ind-Ra) said in its latest report, adding that it expects prices to fall further as global production is likely to be higher than demand growth. With local prices (MSP) being higher than international […]
