Nearly a third of India’s rice exports for January 2022 are stuck due to a shortage of freight trains. Most traders have stopped signing February export contracts to avoid demurrage charges, industry officials told Reuters. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and […]
India is setting up “green energy corridors” to cover the length and breadth of the country in two phases. “The Green Energy Corridor Project aims at synchronizing electricity produced from renewable sources, such as solar and wind, with conventional power stations in the grid,” India’s Ministry of New and Renewable Energy says on its website. One phase […]
India’s production of crude oil continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed. Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier against a target of 2.6 million tonnes. The output was, however, higher […]
The country’s edible oils import bill surged 75 per cent to Rs 1,04,354 crore during the first nine months (April-December 2021) of the current fiscal from Rs 59,543 crore in the year-ago period, a processors association said. According to Soybean Processors Association of India (SOPA) Chairman Davish Jain, during the first nine months (April-December 2020) […]
Oilmeal exports fell 67% to 1.7 lakh tonne in December 2021 due to a decline in export of soybean and rapeseed meal, according to the Solvent Extractors Association of India (SEA). The association, which has compiled the export data for December, said 1,70,338 tonne of oilmeal was exported in the month, compared to 5,16,006 tonne […]
Erratic weather conditions like rains and hailstorms witnessed recently are likely to hit the yield of key vegetables such as potato, onion and tomato, thus pushing up their prices in the coming weeks, a market intelligence report prepared by the ministry of food processing industries (MFPI) has stated. Currently, mandis’ prices of the key vegetables […]
India’s government has decided not to impose anti-dumping duty on certain steel products being imported from countries like China, Japan, and Korea, as the finance ministry has not accepted the recommendations of the directorate general of trade remedies (DGTR). The commerce ministry’s investigation arm DGTR had conducted a probe against imports of ‘Cold Rolled/cold reduced […]
As the country moves more aggressively towards its decarbonisation goals with the overall energy economy shifting towards greener fuels, a Wall Street brokerage has said this space will see a capex of $ 395 billion by 2030. At COP21 in Paris, as part of its nationally determined contributions, New Delhi had committed to achieve 40 […]
Indian steel makers seem to be resigned to price swings in iron ore. Indian iron ore producers take the pricing cue from the global market. Much to the surprise of miners and traders, iron ore prices in swung from an all-time high of $235.55 a tonne on May 12 to slide to 16-month low of […]
Import of petroleum coke (petcoke), a byproduct of oil refining process, stood at 9.87 lakh tonnes in December 2021, up by 73 per cent over the corresponding month of the previous year as it is becoming price competitive to coal, according to a report. The import of petcoke in December was up by 70 per […]
