Pacific Investment Management to pull out of future Adani Ports investment on environmental concerns

Pacific Investment Management Co. (PIMCO), which is seeking to decarbonise its investment portfolio, has stopped participating in the bond offerings of Adani Ports & Special Economic Zone Ltd. because of Adani’s links to a controversial coal project Australia.  Pimco, which is owned by Germany’s Allianz SE, did not participate in Adani Ports’ $500 million bond […]

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Floods in Australia hit coal mining operations, supply chains

Floods in eastern part of Australia, affecting the states of New South Wales and Queensland, have impacted operations at coal mines in the region, stalled railway transportation, affected port schedules and disrupted supply chains in general, mainly for thermal coal exports. With weather conditions getting worse, companies and government officials were still assessing the impact, […]

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“Asia’s bullion supplies snagged by logistics”

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Asia’s appetite for bullion is being tested by a global disruption in logistics that is still ongoing despite easing lockdowns, Padraig J Seif, partner at Precious Metals Asia, a leading Hong Kong-based bullion supplier told Indo Asian Commodities. With flights across the region far below capacities prior to Covid, air cargo rates for the precious metal have shot […]

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Initial USDA 2021/22 world cotton outlook shows higher prices, lower stocks

World cotton consumption is expected to exceed production for the second year in a row, reducing world stocks by 3.2 million bales, the U.S. Department of Agriculture has said. World cotton production is expected to rise 4.7 percent with the most significant year-over-year growth in Pakistan, Australia, Brazil, the United States, and West Africa. Global […]

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Australia says agriculture rebounds from drought, forecasts all-time high production value of $66 billion

Australia said on Tuesday that a forecast of an all-time high $65.9 billion in production value this fiscal year confirmed that the agriculture sector was in the midst of an exceptional rebound from drought. Figures released by Department of Agriculture, Water and the Environment (ABARES) at the virtual Outlook 2021 conference revealed the industry is […]

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