India imported a record volume of palm oil in September, the highest ever in any single month since the country began importing palm oil in 1966. There has also been a record shipment of edible oils during September 2021 according to the industry body, Solvent Extractors Association of India (SEA). As per the latest data […]
India needs to increase its solar power capacity to 5630 gigawatt in order to become a net-zero emissions nation by 2070, according to a study released by the Council on Energy, Environment and Water (CEEW). At present, India has 100 GW of installed renewable energy capacity, of which solar comprises 40 GW, the study said. […]
Tomato prices in retail markets of metro cities have shot up to Rs 72 per kilogram on tight supply due to unseasonal rains in key producing states like Madhya Pradesh and Maharashtra. Among the metros, the maximum increase in the retail price of tomato was seen in Kolkata where the key kitchen vegetable was ruling […]
The effective import duty on crude and refined varieties of palm oil, soyabean oil and sunflower oil has been reduced between the range of 16.5 and 19.25 percentage points. The cut will be effective from October 14. As retail inflation in edible “oils and fats” surged to second-highest level in 2021 in September, the government […]
India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund (IMF). India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous […]
International Energy Agency (IEA) has invited India, the world’s third-largest energy consumer, to become its full-time member, India’s oil Minister Hardeep Singh Puri said after online discussions with IEA Executive Director Fatih Birol. If India accepts the invitation, New Delhi will be required to raise its strategic oil reserves to 90 days stock. India’s current […]
Global investment in the upstream oil and gas sector will be around 30 per cent below pre-pandemic levels according to Oil and Natural Gas Corporation (ONGC) Chairman, Subhash Kumar. Delivering his speech at the 28th Annual General Meeting of the company, Kumar said, “Last year, global upstream investments sank to a 15-year low at $350 billion, as […]
India’s import of liquefied natural gas (LNG) recorded a drop of 13.2% year-on-year (y-o-y) to 1.9 million tonnes (MT), or 2,517.5 million standard cubic meter (mscm) in September 2021, according to a recent note published by Credit Suisse. With this, LNG import in April-September stood at 11.8 MT, marginally lower than 11.9 MT recorded in […]
The Department of Food and Public Distribution has again imposed stock limits on edible Oils and oilseeds to soften the prices of edible oils in the domestic market for a period up to March 31, 2022, informed the Ministry of Consumer Affairs, Food, and Public Distribution on Sunday. According to a statement issued by the ministry today, the removal of licensing […]
Indian cement makers and sponge iron plants are buying high quality thermal coal to bridge domestic shortfalls. Coal is being bought at a $12 to $15 a tonne discount to fresh shipments from Australia. Currently, the price is among the cheapest thermal coal of its quality available in the market. The discord between China, the […]
