No hike in minimum selling prices of sugar; exports may touch 60 lakh tonnes in 2021-22

India’s food Secretary Sudhanshu Pandey has ruled out any hike in the minimum selling price of sugar from current Rs 31 per kg as domestic rates are higher and expressed confidence that exports will touch 50-60 lakh tonnes in the current marketing year starting October. Addressing 87th Annual General Meeting (AGM) of the Indian Sugar […]

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Singapore increases its gold reserves for the first time in decades

Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move that saw holdings expand for the first time in decades. According to data from the Monetary Authority of Singapore’s (MAS) International Reserves and Foreign Currency Liquidity reports, the purchases were made over May and June this year, totaling about 26.3 […]

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Global coffee price touched multi-years high in Oct despite improved conditions in Brazil, says ICO

World coffee prices reached new multi-year highs in October, as the monthly average of the ICO composite indicator price was 181.57 US cents/lb, an increase of 6.8% as compared to 170.02 US cents/lb in the previous month, the International Coffee Organization said in its latest monthly report. These price levels during coffee year 2020/21 mark […]

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Political and economic turmoil in neighbouring countries may adversely impact India’s sugar exports this season

The Secretary for Food and Public Distribution, Sudhanshu Pandey warned of challenges in sugar exports from India in the 2021-22 season even though 1.8 million tonnes had already been contracted at the start of the season itself. Addressing the All India Sugar Traders Association (AISTA) on global sugar, he said that last year India was […]

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International Energy Association invites India to become full-time member: Oil Minister Puri

International Energy Agency (IEA) has invited India, the world’s third-largest energy consumer, to become its full-time member, India’s oil Minister Hardeep Singh Puri said after online discussions with IEA Executive Director Fatih Birol. If India accepts the invitation, New Delhi will be required to raise its strategic oil reserves to 90 days stock. India’s current […]

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