Is China slowly trying to capture the offshore oil market?

China is expanding its offshore oil and gas scene, undeterred by compliance, transparency, corruption or environmental issues that plague so many oil-rich countries.  Chinese development banks are willing to lend billions to oil-producing countries in Latin America and Africa, and its state-run oil companies are willing to invest in projects others fear to touch. This […]

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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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India’s crude steel output dips 3.4% to 9.08 million tonnes in October 2019

India’s crude steel output fell 3.4 per cent to 9.089 million tonnes during October this year, according to World Steel Association (worldsteel). The country had produced 9.408 million tonnes crude steel during the same month a year-ago, the global industry body said in its latest report. Global steel output stood at 151.494 million tonnes in […]

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High production, decline in exports may affect cotton prices: Ind-Ra

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High cotton production due to greater-than-average rainfall in the country and increased sowing by farmers may adversely impact prices. As per Cotton Corporation of India (CCI) estimates, cotton production is likely to increase 13.6 per cent to 35.5 million bales (170kg) for the October 2019-to-September 2020 season. Area under cotton cultivation has increased by 6 […]

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On India’s cue, USDA cuts global sugar production forecast

Global sugar production for 2019/20 is estimated down 6 million tonnes to 174 million primarily due to the 5-million tonne drop in India resulting from lower area and expected yields, the United States Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said in its latest report. Brazil and India are essentially tied as top producers. […]

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Global 2019/20 coffee production seen slightly down due to fall in Arabica output

World production in coffee year 2019/20 is projected to fall by 0.9% to 167.4 million bags, according to the International Coffee Organization (ICO), While Robusta output is projected to rise by 1.5% to 71.72 million bags, Arabica output is anticipated to decrease 2.7% to 95.68 million bags, it said in a statement, adding that the […]

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India’s poultry sector opposes bilateral treaty with US amid fears of cheap imports

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The Indian poultry industry is strongly opposed to the government’s proposed move to sign the bilateral treaty with the United States amid fears that cheap imports from the US after the treaty will lead to closure of lakhs of domestic chicken farms and processing units, thereby rendering about 4 million people jobless, reports Business Standard. […]

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ArcelorMittal to review its Canadian and Brazilian iron assets

The Mittals-owned ArcelorMittal is evaluating a potential sale of some of its iron ore operations, as the world’s biggest steelmaker seeks to cut debt by divesting non-core businesses, reports Bloomberg. The company is reviewing its iron ore assets in Canada, Brazil and Liberia. ArcelorMittal is reported to be speaking with financial advisers about options including […]

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