Global cotton consumption is projected to post its third straight year of growth — but just barely, with an expected increase of only 0.04%, the International Cotton Advisory Committee (ICAC) said in its latest forecast. Many of the top consuming countries are undergoing a slowing in consumption growth, including: East Asia — 6%, down from […]
Prompted by strong demand growth in the domestic market, steel producers are set to hike product prices by Rs 1,000 a tonne from March 1. This will be the third rise in prices since February 1, Business Standard reports. A growing demand for steel across sectors is prompting large producers of steel to go ahead with yet another price […]
Production of a wide variety of fruits and vegetables is creating supply chain challenges in India even as the government works towards doubling farm income by 2022, the chief executive officer of the National Center for Cold-Chain Development (NCCD) said. One kind of supply chain will not effectively serve them all. Fruits and vegetables need […]
Drier and warmer than average seasonal conditions in cropping regions in Queensland and northern New South Wales during December and January have reduced prospects of summer crop production in 2018–19 after wheat output fell to 11-year low, the Australian Bureau of Agricultural and Resource Economics (ABARES) said in a report. The final wheat harvest total […]
Wheat prices in the spot market are expected to remain steady for the next one month before gradually declining in February on forecast of a good crop and huge carryover stock, Economic Times reports. According to traders, wheat harvesting will begin in Madhya Pradesh, Gujarat and Rajasthan from the middle of February. This is likely […]
A report made public by Rapaport reveals that polished-diamond prices softened in January, with 1-carat stones falling by 0.4% last month and 1.8% compared to January 2018, while 3-carat gems fell by 1.8% last month and 5.9% compared to last year. Smaller diamonds saw a less steep decline in prices as 0.5-carat rocks fell by […]
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has reduced repo rate by 25 basis points to 6.25 per cent per annum from 6.5 per cent p.a. The apex bank panel has reduced the key interest rate on expectation of inflation staying within its target range, which is a good news for people […]
India’s tea production nudged 0.8 percent lower in 2018 from a year ago to 1311.63 million kg, trimming exports from the world’s biggest black tea producer by 1.1 percent, the state-run Tea Board said. India’s exports eased to 249.11 million kg from 251.89 million kg a year ago, the board said in a statement. India, […]
By the conclusion of the 2018/19 season, world cotton stocks are projected to drop to 17.6 million tonnes, reflecting a decrease of 5 per cent from the previous year and registering the fourth straight year of decline, the International Cotton Advisory Committee (ICAC) said in its latest report. Consumption is expected to remain steady but […]
Pitching a strong re-election bid, India’s BJP-led NDA government announced the biggest income tax sops for middle class, including complete exemption for income up to Rs 5 lakh, and Rs 6,000 annual cash dole to poor farmers in a scheme that will cost Rs 75,000 crore per year. Converting a vote on account speech into […]