Global coffee consumption may exceed production in 2019–20: ICO

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Global coffee consumption will exceed production in the 2019 to 2020 coffee year, creating a global deficit of about 502,000 bags, the International Coffee Organization (ICO). “Despite a slowdown in growth, consumption is predicted to overtake production during the course of the year,” the report said. World production in coffee year 2019/20 is projected to […]

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US refiners reduce crude processing for the first time since 2009 on reduced demand from Asia

Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad has weakened, according to EIA data compiled by Reuters market analyst John Kemp. Year to date, U.S. refiners’ crude processing has declined for the first time since the 2008-2009 crisis. Faced […]

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Indian shrimp exports set to nearly double to $7 billion by 2022: CRISIL

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CRISIL expects shrimp exports from India to nearly double to $7 billion by 2022, driven by strong demand, high quality, improved product mix, and an increase in aquaculture area in Andhra Pradesh, Gujarat, Odisha and West Bengal – even as its Asian rivals battle structural issues and rising domestic consumption. In fiscal 2016, India became […]

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IGC estimates 2019-20 world wheat production at 762.3 million tonnes; Soybean at 341 million tonnes

Despite a worsening outlook in the southern hemisphere due to sustained dryness, including drought in Australia, 2019/20 world wheat production is still expected to be higher this year than last, according to the monthly report of the International Grains Council (IGC). Global wheat production in 2019/20 is forecast at 762.3 million tonnes this month, compared […]

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India’s ban on onion exports skyrockets prices in Asia

From Kathmandu to Colombo, it’s a kitchen nightmare, reveals Business Standard: That’s because India, the world’s biggest seller of the Asian diet staple, has banned exports after extended Monsoon downpours delayed harvests and supplies shrivelled. Onion prices have more than doubled in most neighbouring countries in the last month alone. Asian consumers have developed a serious […]

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Saudis may cut oil prices for Asian markets

Saudi Arabia may reduce its official selling price for oil for Asian buyers in August, unnamed sources told Reuters, adding the move was prompted by a decline in Middle Eastern benchmarks last month. A Reuters survey among five refiners revealed the official selling price for the Kingdom’s flagship Arab Light hit a five-year high for deliveries this month, but […]

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