A surprise election victory for Australia’s pro-coal ruling Coalition is ratcheting up pressure on the Queensland state government to approve development in one of the biggest untapped reserves of the fossil fuel. Adani Group’s Carmichael coal project is located in Australia’s huge Galilee Basin, which if fully developed, has the potential to more than double […]
The operating margins of Indian cotton yarn spinners may shrink by 100-150 basis points (bps) in fiscal 2019-20 owing to lower cotton output, rising cotton prices and moderating demand, reversing the recovery seen the previous fiscal, according to rating agency CRISIL. That, however, is unlikely to materially affect the credit profiles of spinners, it said. […]
India is set to grow soybeans on more land in the 2019 crop year as higher prices for the oilseed push some farmers to switch from cultivating competing commodities such as cotton and pulses, a top official of the Soybean Processors Association of India (SOPA) told Reuters. Increased production of India’s main summer-sown oilseed could […]
The proposed Regional Comprehensive Economic Partnership (RCEP) agreement may hurt India’s export competitiveness as the trade balance is already skewed, Trade Promotion Council of India (TPCI) said. TPCI said that the proposed RCEP, which is a mega free trade agreement, could lead to flooding of goods in the Indian market from the member countries; and […]
Thermal coal stockpiles at Indian power plants began to decline over the last week, although they remained markedly higher than the year-ago period, according to data released Monday by the Central Electricity Authority. Data available with the Central Electricity Authority showed that 23 of the 114 plants had low coal stocks, much higher than just […]
The World Trade Organization’s quarterly outlook indicator showed that global goods trade growth was likely to remain weak, with a reading of 96.3, unchanged from February, the lowest since 2010. “The outlook for trade could worsen further if heightened trade tensions are not resolved or if macroeconomic policy fails to adjust to changing circumstances,” the […]
India closed its grape export season of 2018-19 with a 31 per cent rise in export of the fruit to Europe, the most premium market. Exports to Russia, China and other destinations are expected to have increased by about 25 per cent to 30 per cent. Grape growers had reported a bumper crop this year […]
India’s buffalo meat exports have fallen 9 per cent as major importer China is not importing directly from India, which makes shipments go via Vietnam or the Philippines, making it costlier. The industry has complained that it has not been given the kind of incentives that other exports get, making things difficult for buffalo meat […]
India imported 1,232,283 tonnes of vegetable oil, consisting 1,198,763 tonnes of edible oils and 33,520 tonnes of non-edible oils, in April, down 11 per cent as compared to 1,386,466 tonnes in April 2018, according to latest data from the Solvent Extractors Association (SEA). The overall import of vegetable for the first six months of the […]
Bacon could soon be off the fried breakfast menu. African swine flu is sweeping across South East Asia and threatening to spread even further after decimating some pig farmers in China, which consumes more pork than any other country. The virulent disease is now creating a domino effect for commodities markets, farmers and consumers. HSBC’s […]
