The oil surplus is going to continue in 2020; average price may rule at $65 a barrel: IEA

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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 […]

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Commodities outlook appears positive for 2020 but challenges persist

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The year 2019 has been a rollercoaster ride for commodities market, however, we are ending on a promising note. Reuters/CRB commodities index has gained 10 per cent this year, the highest since 2010. Palladium tops the list of gainers and has risen more than 55 percent. Some of the other best performing commodities which have […]

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Jewellery demand expected to fall by 6-8% over high gold prices: ICRA

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Jewellery demand is expected to decline by 6-8 per cent in terms of volume following high gold prices and weak consumer demand in 2019-20, according to an ICRA report. “Overall, we expect the jewellery demand to be subdued in FY20 with expected volume de-growth of 6-8 per cent on the back of elevated gold prices and weak consumer demand, rating agency ICRA […]

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Is China slowly trying to capture the offshore oil market?

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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 […]

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

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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 […]

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

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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 […]

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

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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. […]

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Farmer entrepreneurs become India’s largest grape exporter

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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 […]

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