Is China slowly trying to capture the offshore oil market?


China is expanding its offshore oil and gas scene, undeterred by compliance, transparency, corruption or environmental issues that plague so many oil-rich countries.  Chinese development banks are willing to lend billions to oil-producing countries in Latin America and Africa, and its state-run oil companies are willing to invest in projects others fear to touch. This […]

Read more

India’s shrinking diesel demand points to a frightening economic slowdown


India’s demand for diesel is slowing as the country’s car fleet shifts predominantly to gasoline, trucks get more efficient and solar pumps displace diesel-fed units across the countryside, claims a Reuters report. The combination of these changes has led analysts, academics and company officials to speculate that diesel demand growth in the world’s third-largest crude […]

Read more

Wettest monsoon in 25 years could lift 2020 wheat output to a record high


India’s wheat production could jump to a second consecutive annual record in 2020 as the wettest monsoon in 25 years is set to help farmers in expanding the area under the winter-sown crop while also boosting yields, industry officials told Reuters. But that higher production would add to India’s already swelling inventories, potentially forcing the world’s second-biggest wheat producer to […]

Read more

Flood and landslide damage coffee and other plantations in Karnataka and Kerala; crop loss to the extent of 33%


Floods and landslides in Karnataka and Kerala have damaged vast land holdings of coffee and spice crops in plantations that supply the bulk of India’s demand. The Coffee Board has done preliminary surveys (current year) in the calamity-affected areas in Karnataka and Kerala to estimate the damage to coffee plantations due to floods and landslides. […]

Read more

Farmer entrepreneurs become India’s largest grape exporter


A European Union rejection turned out to be a watershed moment for an entrepreneur’s endeavours who then converted his private grape export company to full-fledged farmer’s cooperative, which is now also India’s largest grape exporter, reports Financial Express. When a consignment from his company was turned down by the EU due to compliance failure in […]

Read more

India extends moratorium by six months on Rs 15,000 crore soft loan to sugar mills


As the Rs 15,000 crore soft loan scheme for sugar mills is moving at a snail’s pace, the government has extended the moratorium period for repayments by six more months, according to sources. Now, the moratorium period is one-and-a-half years. A moratorium period is a time during the loan term when the borrower is not […]

Read more

Minimum Support Price hikes add to the woes of India’s farm exports


India’s farm exports are at a severe peril. First, a global oversupply in agricultural commodities has led to constantly declining agricultural commodity prices. To add to its woes, sustained and regular increases in the minimum support price (MSP) of agri commodities by the Indian government has over-priced the country’s agricultural commodities in the world market. […]

Read more

Heavy untimely rains hit 54 lakh hectare of crops in Maharashtra


Preliminary estimates by the agriculture department of Maharashtra reveal that standing crop spread over 54 lakh hectare has been damaged by the unseasonal rains. Chief minister Devendra Fadnavis has directed officials to conduct Panchanamas so that the government can assess the total damage and consider compensation for farmers. Farmers have demanded immediate Panchnamas to help […]

Read more

Sixteen global steel industry groups to find ways to reduce overcapacity in global steel


Sixteen steel industry associations on five continents including Indian Steel Association today praised the agreement by a “large majority of members of the Global Forum on Steel Excess Capacity (GFSEC)” to “continue the Forum’s work on the issue of steel excess capacity,” and called upon the few dissenting members to reconsider their current position as […]

Read more

Steel demand to increase as India embarks to become $5 trillion economy: Petroleum Minister, Pradhan


The Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan has said that the demand of steel in the country has seen substantial increase and is expected to increase further in the future as India embarks to become a US $ 5 trillion economy. Addressing the Ministerial Meeting of Global Forum on Steel Excess […]

Read more