Government of India initiates probe into alleged jump in palm oil imports from Malaysia

The government has initiated a probe into alleged jump in imports of a particular variety of palm oil from Malaysia, following a complaint from Solvent Extractors’ Association of India (SEA). Commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has found prima facie sufficient evidence that the imports have increased significantly and that has […]

Read more

Reports indicate Iran could be China’s oil weapon

Two reports out this week which could greatly impact oil prices indicate that leaders in Tehran are desperately urging China to purchase more Iranian crude:  First, Reuters notes China continued importing Iranian oil in July for the second month since a US sanctions waiver ended, though at greatly diminished levels compared to the year prior, citing numbers from three data firms: According to […]

Read more

Coal imports by power companies in the first half of 2019 rise over 53% from year ago

Coal imports by Indian coal utilities during the first half of 2019 rose 53.4 per cent from a year earlier to 35.47 million tonnes, data provided by India’s Central  Electricity Authority (CEA) showed. Demand for seaborne coal imports in India has risen because of a fast rising population and the unavailability of alternative fuels such […]

Read more

India’s pulses import estimated to fall record low of one million tonnes

India’s pulses import this year is expected to fall to one million tonnes from 6.6 million tonnes in 2016-17, Business Standard reports. This would help farmers who have been trading their produce below state-fixed minimum support prices (MSP). India consumes around 24-25 million tonnes of pulses, but sowing trends show this year production is expected […]

Read more

India’s trade deficit narrows by 7.98% to $15.28 billion in June, exports falls by 9.71%

India’s merchandise exports contracted for the first time in nine months in June while imports shrank first time in four months. India’s trade deficit for June 2019 narrowed by 7.98 per cent to USD 15.28 billion as against the deficit of USD 16.60 billion in June 2018, government data showed. Data released by the commerce […]

Read more

Cashew import prices hiked by 280% to support domestic producers

The Indian government has increased the minimum import price of broken cashew kernels by nearly 138 per cent and by 280 per cent for whole kernels. According to a notification issued by the Directorate General of Foreign Trade (DGFT), import price of broken cashews has been increased to Rs 680 per kg from Rs 288 per kg. Similarly, for whole cashews, […]

Read more