India restricts refined palm oil imports from Malaysia over Kashmir, CAA

The government has imposed restrictions on imports of refined palm oil and palmolein, a move in retaliation against top supplier Malaysia after its criticism of India’s actions in Kashmir and the Citizenship (Amendment) Act, 2019 (CAA). According to a notification of the Directorate General of Foreign Trade (DGFT), “import policy” is amended from “free to […]

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Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]

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USDA raises Indian cotton exports to 4 million bales for Marketing Year 2019/20

The latest data compiled by United States Department of Agriculture (USDA) estimates India’s Marketing Year (MY) 2019/20 cotton exports at 4 million 480-lb bales. This translates into 5.1 million 170-kilogram bales of cotton or 870,000 tonnes. As prospects for global supplies outweigh the global demand, Indian cotton ex-gin prices are marginally higher than the Cotlook […]

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India’s rough diamond imports fall sharply in 2019 over liquidity crunch

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Liquidity crunch due to financing cuts by banks leading to cutters and polishers reducing purchases has resulted in India experiencing the steepest decline in net rough diamond imports sharply in 2019 so far. According to the data from the Gem and Jewellary Exports Promotion Council, the overall gross import of rough diamonds between April to […]

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Malaysia raises export tax for Crude Palm Oil for first time in over a year; India’s vegetable oil imports fall

Malaysia has raised its export tax for crude palm oil for January, for the first time in one-and-a-half years, the Malaysian Palm Oil Board’s website said last week, citing the national customs department. The world’s second-largest producer and exporter of palm oil had last imposed an export tax of 4.5 per cent in August 2018 […]

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Nashik traders, growers seek removal of onions’ stockholding limit

Onion growers and traders in Nashik district — the onion belt in Maharashtra — will soon approach the Centre with a plea to remove the stockholding limits in the wake of increasing arrivals in the markets. NAFED director Nanasaheb Patil told Financial Express a meeting is slated to be held with Nashik’s district collector along […]

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Retail inflation spikes to 3-yr high; Exports contract marginally; Industrial output contracts

Rising food prices pushed the retail inflation in November 2019 to over three-year high of 5.54 per cent, breaching the Reserve Bank’s medium-term target of 4 per cent, thus justifying the central bank’s decision to keep the benchmark interest rate unchanged in its monetary policy earlier this month. According to the data released by the […]

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