Azadpur Mandi operators fear major disruption in supply

BY RITWIK SINHA Even as the wholesale sellers have not exactly downed their shutters at Azadpur Mandi (Asia’s biggest wholesale market for fruits & vegetables) following government’s announcement of lockdown for three weeks to combat Coronavirus crisis, the market operators are reporting situation increasingly turning out to be adverse for them. The wide fluctuation in […]

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Essential commodities market gets a major boost from states and police

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The slump in demand for commodities such as edible oils, vegetables, and grains — following the closure of hotels, restaurants and road-side eateries may haave reduced the demand, but farmers are eager to sell their produce, during the harvest season. Assurance of support and required facilities by state authorities to the essential commodities markets and distribution channels has […]

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World’s largest oil trader says global oil demand could plummet by 20 million barrels per day

A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview. At its peak, oil demand could slump by 15 to 20 million bpd over the next few weeks. On an annual basis, Hardy said, this would contribute to a demand […]

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Coronavirus outbreak and lockdown impact weighs on Indian steel industry

The outbreak of COVID-19 and a lockdown to prevent the spread are threatening to impact production of steel companies. Tata Steel is closing down its downstream standalone units in Maharashtra and Uttar Pradesh in line with guidance from respective states. The main sites at Jamshedpur, Kaliganagar and Angul, however, are operational, as they are process […]

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Maharashtra sugar mills want to continue crushing during lockdown

The Maharashtra State Cooperative Sugar Factories Federation (MSCSFF) is seeking permission from the state government to complete the crushing season of 2019-20, which has reached the last stages, in the wake of the Coronavirus pandemic and the lockdown declared by the Centre, top officials of the federation said to the Financial Express. Some 26 factories […]

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Gold heading towards Rs 45,000 per 10 grams level amid volatility in global markets

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Volatility in the global markets has once again brought gold back in focus, with the price of the yellow metal rising sharply worldwide. In India, it is approaching the Rs 45,000-level. This is a boon for investors holding gold exchange-traded funds and sovereign gold bonds (SGBs). At present, it is perhaps the only instrument to be providing […]

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Philippines to dethrone Indonesia as largest global nickel ore producer

Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug […]

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