Iran has applied to join the BRICS group of major emerging economies, which includes China, Russia, and India, Reuters reported, a move that would help to secure an alternative alliance to the West. Iran is a major oil and gas resource holder, as is Russia, while China is the world’s top oil importer and one of […]
Maharashtra closed its 2021-22 sugar season producing historically highest sugar, and already the state is staring at breaking this record in the next season starting October 1, said state’s sugar commissioner Shekhar Gaikwad. “Maharashtra’s sugar mills have produced 138 lakh tonnes of sugar, which is the highest quantity ever produced since the inception of the […]
World coffee consumption is projected to grow by 3.3%, to 170.3 million 60-kg bags in the 2021/22 coffee year as compared to 164.9 million for coffee year 2020/21, the International Coffee Organization (ICO) said in its latest monthly report, adding that provisional outlook for production in the same period remains unchanged at 167.2 million bags, […]
Traders in India are contracting deals for the import of 50,000 tonnes of soy oil and 50,000 tonnes of palm oil with reports of shipment delays of sunoil, following Russia’s invasion of Ukraine, Financial Express reports. “Traders are not rushing in too much because they believe the situation with Russia and Ukraine may ease within […]
China said it would raise domestic soybean output sharply in the next four years, in a drive to boost self sufficiency in supply of the oilseed, according to an official document. The country has set a goal to produce about 23 million tonnes of soybeans by end of 2025, up 40% from current output levels […]
India has appealed against a ruling of the World Trade Organization’s (WTO) trade dispute settlement panel which ruled that the country’s domestic support measures for sugar and sugarcane are inconsistent with global trade norms. The appeal was filed by India in the WTO’s Appellate Body, which is the final authority on such trade disputes. India […]
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 […]
Key crops, from Brazilian corn to Malaysian durians, are at risk after tight supplies and blistering prices of fertiliser have caused farmers to scrimp on vital crop nutrients, adding to global food security and inflation fears. Fertiliser costs have soared this year amid rising demand and lower supply as record natural gas and coal prices […]
A World Trade Organization (WTO) panel ruled in favour of Brazil, Australia and Guatemala in their trade disputes with India over sugar subsidies, reports Reuters. The WTO has asked New Delhi to conform with global rules. In the cases brought before the WTO in 2019, the rival producers alleged that India had broken WTO rules […]
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 […]
