Retail inflation in India rose to about five-and-half year high of 7.35 per cent in December 2019, surpassing the RBI’s comfort level, mainly due to spiralling prices of vegetables as onions were selling costlier. The unexpected jump in inflation diminished the chances of the RBI cutting interest rate at its next monetary policy review due […]
Consumer Affairs Minister Ram Vilas Paswan told reporters that the central government is “worried” about disposing imported onions as not many states are interested to take it despite being offered at an average landed cost of Rs 55 per kg. Retail onion prices, which were ruling over Rs 100 per kg in most cities since […]
Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters. “Non-OPEC production is very strong. We still expect production coming from, not just United States, but also Norway, Canada, Guyana, among other countries,” Birol said, adding “Therefore, I […]
The United States Department of Agriculture (USDA) estimates Malaysia’s 2019/20 palm oil production at 20.5 million metric tonnes (mmt), down 2 per cent from last month and down 1 percent from last year. Harvested area is estimated at 5.35 million hectares, unchanged from last month, but up 1 percent from last year. Yield is estimated […]
The country’s kharif food production could be much lower than the Centre’s first advance estimate of a marginal fall. Heavy post-monsoon showers are a key reason. The production of coarse grains, pulses, oil seeds and sugarcane is expected to decline in the summer season of 2019-20 due to late monsoon and erratic and heavy rains […]
India has imposed anti-subsidy duty for a period of five years on copper wire rods from Indonesia, Malaysia, Thailand and Vietnam after concluding a probe that these imports have impacted domestic players. In a notification, the finance ministry said that it has imposed the anti-subsidy or countervailing duty after considering the final findings of the […]
The Southern India Mills’ Association (SIMA), a spinning mills body has asked the Union government to direct the Cotton Corporation of India (CCI) not to hoard the commodity and sell it at market price on a regular basis, reports Financial Express. “China, the largest consumer of cotton, has depleted its cotton reserves significantly in the […]
The Trump administration imposed new sanctions on Iran last week, including penalties on the Islamic Republic’s metals and some senior leaders, following Tehran’s attack on U.S. military bases. The sanctions target steel, aluminum, copper and iron, as well as eight senior Iranian officials and sectors of the economy, such as construction, manufacturing, textiles and mining, […]
Investment in battery manufacturing plants and electric vehicle factories continues to boom around the world, but for now the market for lithium shows no signs of emerging from a four-year slump. Prices for the raw material used in lithium-ion batteries fell again at the end of last year, according to the December price assessment released […]
The gems and jewellery industry in the country is expecting gold prices to be volatile during 2020, as the hostility between the US and Iran may continue this year. Notwithstanding the price volatility, the industry hopes that various forms of government support may help it grow 10 per cent in terms of volume during the year as […]
