India to harvest record wheat production of 106.21 million tonnes in 2019-20: Ministry of agriculture

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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 […]

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India’s jewellery industry urges govt to cut import duty on gold, polished diamonds

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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 […]

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Government aims to make India a surplus country in terms of pulses production: Narendra Singh Tomar

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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 […]

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Gold demand in 2019 nudges lower as price-driven slump in consumer demand outweighs ETF inflows: WGC

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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 […]

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Potato production rises 51% to 52.5 million tonnes in over a decade: Agriculture minister Tomar

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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 […]

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Gold price falls ahead of Fed meeting; trades at Rs 40,509 per 10 grams

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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 […]

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Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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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 […]

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Cotton prices may fall further on higher output, weak demand: Ind-Ra report

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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 […]

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