Normal to above normal rainfall forecast for southwest monsoon season

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Normal to above normal rainfall is most likely during the 2021 southwest monsoon season (June – September) over most parts of South Asia, according to an authoritative seasonal forecast from the South Asian Climate Outlook Forum (SASCOF) released this week. Geographically, above-normal rainfall is most likely over some areas of the North West, along the foothills of […]

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Copper climbs to highest in 10 years as global recovery gains ground; other metals also gain

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Copper climbed to the highest in almost a decade as the global recovery from the pandemic extended a rally in metals markets. Aluminum is surging and iron ore jumped to a fresh high as commodities advance toward the highs of the last supercycle. Metals are benefiting as the world’s largest economies announce stimulus programs and climate pledges […]

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IGC raises world total grains production in 2020/21 by 9 mln tons m/m to 2.224 bln tons

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The International Grains Council (IGC) has raised the forecast for world total grains production, including upgrades for wheat and maize, in 2020/21 by 9 million tons month-on-month to 2.224 billion, an increase of 2% y/y (year-on-year). “Because of increased consumption, projected total grain carryover stocks at the end of 2020/21 are 2m t lower m/m, at […]

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Small family farmers produce a third of the world’s food, says study

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The world’s smallholder farmers produce around a third of the world’s food, according to detailed new research by the Food and Agriculture Organization of the United Nations (FAO). Five of every six farms in the world consist of less than two hectares, operate only around 12 percent of all agricultural land, and produce roughly 35 percent of […]

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Global crude steel output rose 15.2% year-on-year in March to 169 million tonnes; China up 19%, India 24%

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World Steel Association (worldsteel), which represents 64 producing countries, said on Thursday that global crude steel production was 169.2 million tonnes (Mt) in March 2021, a 15.2% increase compared to the same month last year. China produced 94.0 Mt in March 2021, up 19.1% on March 2020, while India’s output rose 23.9% to 10.0 Mt, […]

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No cracking signs in exports flow despite emergence of Corona’s fresh wave, says FIEO President

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In the history of Indian exports the year 2020-21 was undoubtedly the most topsy turvy with the first wave of Corona massively destabilising the goods flow particularly in the first quarter. After a low pick later, there was, however, a case of smart recovery in the last two quarters which had triggered the expectation of […]

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Global commodity prices seen stabilising after early 2021 gains, supported by economic recovery, says World Bank

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Commodity prices continued their recovery in the first quarter of 2021 and are expected to remain close to current levels throughout the year, lifted by the global economic rebound and improved growth prospects, according to the World Bank’s semi-annual Commodity Markets Outlook. However, the outlook is heavily dependent on progress in containing the COVID-19 pandemic as […]

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Three states in India seek free grain supply from Centre for its ration cardholders

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Amid the second wave of Covid-19 and localised lockdown announced by some states that has triggered a return of migrants; Uttarakhand, Kerala and Rajasthan have requested the Centre to consider releasing free food grains to all the 81 crore ration card holders, similar to the one under PM Garib Kalyan Ann Yojana (PMGKAY) last year […]

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Indian restaurants fear closure rate to rise following fresh restrictions as a second wave of Covid hits hard

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Partial lockdowns, curfews and other restrictions in many parts of India to battle a fresh surge of the Covid-19 pandemic could see a sharp increase in the closure of restaurants, a worried industry said as it demanded fresh support for survival from the government. India’s massive restaurant industry, which provides jobs to millions, was devastated […]

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