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 […]
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 […]
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 […]
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 […]
Global steel demand will grow by 3.9% to 1,775.0 Mt in 2019 and will grow by another 1.7% in 2020, reaching 1,805.7 Mt, worldsteel said in a recent report, adding that steel demand in China will grow by 7.8% to reach 900.1 Mt and the rest of the world is expected to record 0.2% growth […]
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 […]
According to the International Coffee Organization (ICO) August 2019 market report, the monthly average of the ICO composite indicator hit 96.07 US cents per pound, a 6.7 per cent drop form July 2019. This marks a 13.6 per cent drop from the start of the coffee year, October 2018, at 111.21 US cents per pound. […]
The government of India moved a step closer to scrapping a cap on foreign investment in commercial coal mining, a person with direct knowledge of the matter said, as part of efforts to boost economic growth. The change would allow overseas miners such as BHP Group Ltd. and Glencore Plc. to own 100 per cent […]
Global steel demand is continuing to grow in the short term against a backdrop of great uncertainty as only a mild deceleration in global growth is now expected, World Steel Association Chairman Andre Gerdau Johannpeter said. “However, in the long term, global steel demand is moving into a low-growth zone as new megatrends shape the […]
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 […]
