The United States Department of Agriculture (USDA) forecasts India’s cotton production for 2019/20 at 29.5 million 480-pound bales, up nearly 2 per cent from last month and up 11 per cent from the previous year. The increase is based on improved weather conditions in the major cotton areas of Gujarat and Maharashtra. Harvested area is […]
China’s total planned coal-fired power projects now stand at 226.2 gigawatts (GW), the highest in the world and more than twice the amount of new capacity on the books in India, according to data published by environmental groups this week. The projects approved by China amount to nearly 40 per cent of the world’s total […]
Gods in India do answer prayers. The Kerala government is close to clinching a cashew supply pact with Andhra Pradesh for Tirupati Venkateswara temple which needs 3,000 kg cashew nuts daily for preparing laddus (a sweet) distributed as a holy offering. Other temples, under the Temple Board Tirumala Tirupati Devasthanam, that use cashew nuts in […]
Shell and Exxon are among the companies picked by the Pakistani government to build five LNG import terminals as part of efforts to boost natural gas imports to deal with shortages in supply. Reuters reports that the terminals could be operational in two to three years, quoting the country’s oil and power minister, Omar Ayub Khan. With […]
Saudi Arabia has approached Baghdad with a request to buy crude oil from OPEC’s number-two to compensate for its production outage caused by the Saturday attacks, sources who declined to be named told S&P Global Platts. According to one of the sources, Aramco had asked Iraq’s State Oil Marketing Organization, or SOMO, for some 10 million barrels […]
In a first since 1998, rough diamonds mined in India will now be up for display in Surat for auction by state-run National Mineral Development Corporation (NDMC) in association with Gems & Jewellery Export Promotion Council (GJEPC), reports Business Standard. So far, rough diamonds mined from the Panna mines in Madhya Pradesh were auctioned online but displayed only at Panna. However, […]
Cotton prices have started rising the past one week due to lower production estimates this year, following reports of crop damage on erratic rainfall and pink bollworm attack on standing crops in major growing regions, reports Business Standard. Data compiled by Agmarknet.in showed raw cotton prices in Warangal mandi surged by 7 per cent the past 10 days […]
Domestic steel consumption growth is expected to decelerate to around 5-6 per cent this fiscal, from 7.9 per cent in FY2019, on the back of an unprecedented slowdown in economic activity, said ICRA in a report. The country’s GDP growth tapered to 5.0 per cent in Q1 FY2020. Consequently, margin outlook for steelmakers has weakened in Q2 […]
According to the Rubber Board of India, timely rain-guarding has increased natural rubber output in India by 14,000 tonnes in July 2019, on an year-on-year basis. The production recorded in July was 60,000 tonne, while it was 46,000 tonne in July 2018. “Confronted with a drastic reduction in production during the last few years, the […]
The strikes on key Saudi oil facilities will hit India’s oil import bill and the Indian Rupee will be the immediate casualty, Singapore’s DBS Banking Group said. The coordinated strikes on Saturday, targeting Abqaiq, the site of the largest oil processing plant run by the Saudi state oil company, Aramco, and the Khurais oilfield led […]
