Global coal production expected to rise by 3.5% in 2021: GlobalData

coal.jpeg

Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions observed in the US (23.6%), Indonesia (13.1%), Russia (8.1%) and Australia (5.5%). These were only partially offset by increases in China (4%) and India (0.7%).  Additionally, during the last year, there was an estimated […]

Read more

Gems, jewellery exports from India decline by 25.71% in fiscal year 2020-21: GJEPC

Photo01-scaled.jpg

The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21 compared to the previous financial year on account of COVID-related disruptions, industry body GJEPC said. “2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports […]

Read more

Are farmers in Maharashtra ditching grape cultivation for sugarcane farming?

grapes.jpg

The cycle seems to have turned within a decade. Around 10 years ago, a wave of grape cultivation had gripped Maharashtra. Farmers ditched sugarcane and turned to grapes in huge numbers. Today, farmers are ditching grape farming and turning back to sugarcane cultivation.   Fact is grape cultivation has turned costlier in the state. Grape vines require a lot of […]

Read more

India maintains nutrient-based subsidy for Phosphorus and Potassium fertilisers for FY22

Fertiliser2.jpg

India has kept the nutrient-based subsidy rates unchanged for phosphatic and potassic (P&K) fertilisers for the current 2021-22 fiscal till further orders. For the last fiscal, the government had fixed the subsidy rate for nitrogen (N) at Rs 18.78 per kg, phosphate (P) at Rs 14.88 a kg, potash (K) at Rs 10.11 per kg […]

Read more

Copper price crosses $9,000 a tonne after Goldman Sachs calls it the new oil

copper.jpg

Copper has resumed its rally, as analysts and executives expect increasing demand and likely low supply to drive prices even higher. Copper prices surged to $9,000 a tonne this week. The industrial bellwether metal is crucial in the global push for a greener economy, and right now, the market is facing a supply crunch. US’s post-pandemic recovery […]

Read more

Global steel demand to grow by 5.8% in 2021 to reach 1,874.0 million tonnes, says Worldsteel

worldsteel_NLMK_belgium_hot-rolling_3-ID455-900x523-1.jpg

Global steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020, worldsteel forecast in its latest short range outlook on Thursday, adding that in 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second […]

Read more

Hallmarking of gold artefacts and jewellery to be mandatory from June 1, 2021

IMG-8054-scaled.jpg

The Indian government is determined to implement compulsory hallmarking of gold jewellery and artefacts from June 1, amid rumours that the scheme’s rollout could be delayed. Hallmarking for gold jewellery started in April 2000 as a voluntary scheme. Around 40 per cent of gold jewellery sold in the country is being hallmarked at present. “No […]

Read more

Indian steel industry set to report record sales growth in fourth quarter of fiscal 2021: Analysts

steel-1.jpg

Strong domestic demand, followed by healthy exports have aided India’s steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, say analysts. Revenues of steel companies are expected to improve 20 per cent quarter-on-quarter and 45-50 per cent from a year ago on higher realization and rising demand, led […]

Read more

India has exported almost 25 lakh tonnes of sugar till now: AISTA

FullSizeRender-2.jpg

Indian sugar mills have exported 24.9 lakh (2.49 million) tonnes of sugar so far in the ongoing 2020-21 marketing year ending September, with maximum shipments to Indonesia, trade body AISTA said. “Mills have contracted to export 3.33 million tonnes of sugar so far as against the 6 million tonnes quota assigned by the food ministry,” […]

Read more