Indonesia lifts ban on export of edible oil on improved supply; prices likely to reduce

Indonesia said it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. President Joko Widodo said exports will resume from Monday next. Indonesia and Malaysia are the world’s largest exporters of palm oil, which plays an important role in their economies. They account […]

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Prices of food items continuing to increase in May, says RBI report

Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee’s (MPC’s) surprise move to increase interest rates bodes well for its credibility. The RBI’s monthly State of […]

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Govt to support industry and farmers to increase maize production in India: Narendra Singh Tomar

India, under its crop diversification is promoting farmers to increase maize production through various initiatives. “The MSP of maize has been increased by 43 percent in last 8 years and with the increase in production the farmers are also getting benefited from this,” said Narendra Singh Tomar, Minister of Agriculture & Farmers Welfare. “The popularity […]

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India bans wheat exports with immediate effect to rein in inflation

India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in […]

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