India to introduce logistics, e-commerce national policy, says minister

India’s junior Commerce Minister Som Prakash said on Wednesday that the government will soon be introducing a national policy for logistics as well as e-commerce to boost the retail trade following the devastation suffered in the global pandemic. He told the Federation of Indian Chambers of Commerce and Industry (FICCI) annual retail event called MASSMERIZE […]

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FCI, others procure 151.17 lakh tonnes of paddy at MSP for Rs 28,543 crore so far

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State-owned FCI and state procurement agencies have bought 21 per cent more paddy so far in the kharif marketing season of this year at 151.17 lakh tonnes amounting to Rs 28,543 crore. Paddy procurement for kharif 2020-21 is progressing smoothly in Punjab, Haryana, Uttar Pradesh, Tamil Nadu and Kerala with purchase of over 151.17 lakh […]

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Prices of agri commodities may face upward pressure on weakening dollar – report

Prices of highly traded agricultural commodities such as wheat, rice and edible oils may come under upward pressure if the U.S. dollar continues to weaken, a World Bank report said. The dollar is down 5 percent from April to September measured against a broad basket of currencies. Furthermore, currency movements of countries that account for […]

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Impact of COVID-19 on commodity markets heaviest on energy prices; lower oil demand likely to persist beyond next year

While metal and agricultural commodities have recouped their losses from the COVID-19 pandemic and are expected to make modest gains in 2021, energy prices, despite some recovery, are expected to stabilize below pre-pandemic levels next year, the World Bank said. Oil prices fell dramatically in the early stages of COVID-19 and have only partially regained […]

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Weekly Wrap – Recovery on the horizon, but a long haul to heaven

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The International Monetary Fund (IMF) revised down its 2020 forecast for the Asian economy to a contraction of 2.2 percent, calling it “the worst outcome for this region in living memory.” The latest forecast is a downgrade compared with the projection of a 1.6-percent contraction in June. India’s economy experienced a much sharper than expected […]

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