The United States has surpassed Kuwait to become India’s sixth largest oil supplier as it supplied 70 per cent more crude to the world’s third largest energy consumer during April-September. According to data furnished by the oil ministry to parliamentary committee, the US supplied 5.4 million tonnes of crude oil during the first six months […]
Netherlands-based Nedspice estimates global pepper production to decline this season by 74,000 tonnes for the first time after several years, mainly driven by unfavourable weather in Vietnam, reports Financial Express. However, the mismatch between global supply and demand of the spice will continue to put pressure on the price with supply seen higher by almost […]
The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product […]
India’s real GDP growth in the 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth […]
India’s gold imports in November 2019 declined for the fifth month as elevated prices and the slowest economic growth in six years curbed demand during the peak wedding season. Inbound shipments dropped 19 per cent from a year earlier to 56.1 tonnes, according to a Bloomberg report. That makes it the lowest shipment for the […]
China boosted its soybean production by 13 per cent in 2019 amid a trade war with No. 2 supplier the United States, official data showed on Friday, helping it record a slight rise in total food crop output. Soybean production jumped to 18.1 million tonnes, the National Bureau of Statistics said, with the area devoted […]
Output of eight core infrastructure industries contracted by 5.8 per cent in October, indicating the severity of economic slowdown, according to government data. Eight core industries posted marginal 0.2% growth in output for April-October 2019. As many as six of eight core industries saw a contraction in output in October. The Eight Core Industries carrying […]
The Reserve Bank of India (RBI) on Thursday kept the interest rates unchanged, pausing after five straight cuts, but lowered the country’s economic growth forecast for the 2019-20 financial year to 5 percent from an earlier 6.1 percent. The RBI also raised its inflation forecast for the second half of the year to between 5.1-4.7 […]
India’s state trading arm, MMTC has further contracted 4,000 tonnes of Onions from Turkey which is expected to arrive by mid-January, 2020. This 4,000 tonnes is in addition to the 17,090 tonnes of onions already contracted which includes 6090 tonnes arriving from Egypt and 11,000 tonnes from Turkey. The Department of Consumer Affairs has also […]
Rating agency CRISIL sharply cut its growth forecast for the current financial year to 5.1 per cent from an earlier estimate of 6.3 per cent. The move comes ahead of the RBI’s announcement on lending rates on December 5. The RBI’s monetary policy committee (MPC) will meet between December 3-5 to review the interest rates. […]