India’s export of oilmeal, used as animal feed, declined 78 per cent to 58,549 tonnes in May 2019, as shipments to Iran dropped sharply because of US sanctions, industry body Solvent Extractors Association (SEA) of India (SEA) said. India was able to export only 17,385 tonnes of soyabean extract to Iran during last month, the […]
Farmers are expected to grow more Basmati rice this kharif season, with the acreage under cultivation likely to go up by up to 20 per cent, driven by higher remuneration, low carryover stock and increased demand from Iran, reports The Economic Times. An aggressive buying by Iran has pushed basmati exports from the country to […]
India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month. India joins Greece, Italy, Taiwan and Turkey which have stopped importing Iranian oil. The US reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. To reduce […]
India’s Crude oil imports rose 14 per cent in April from a year earlier to 19.72 million tonnes, the highest since October 2018, when imports were at a seven-year high of about 21 million tonnes, latest data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed. April 2019 crude imports were […]
Saudi Arabia may soak up some of Iran’s previous market share on the Indian market as Saudi Aramco is set to ship additional 2 million barrels per month to Indian Oil Corp between July and December this year on top of the existing term supply deal between the two companies. “We have told them […]
India’s sugar exports surged to 21.29 lakh tonnes so far in the current marketing year ending September, as against about five lakh tonnes shipped in the entire 2017-18, industry data showed. Out of the 21.29 lakh tonnes exported between October 1 and April 6, raw sugar accounted for 9.76 lakh tonnes, the All India Sugar […]
Indian tea producing firms and exporters are trying to work out alternate routes to ship tea to Iran in order to bypass the sanctions imposed by the US on this West Asian country making direct shipments to Iran unfeasible. US announced sanctions last year and a waiver to some countries including India was given. The […]
Exports of basmati rice, the largest product in the country’s farm-export basket, touched a record high in volumes and rupee value terms in 2018-19 on account of aggressive buying by Iran and a weak currency. Export volumes grew by about a tenth to over 4.41 million tonnes over the previous year, while the export value, […]
Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to Iran’s Radio Farda. “All forces should prepare themselves as though an attack can occur tomorrow and continuously engage in war exercises,” Mousavi told IRNA, the official […]
Iraq has become India’s top supplier of crude oil for the second consecutive year in 2018-19 fiscal year, meeting more than a fifth of the country’s oil needs. India imported 46.61 million tonnes of crude oil from Iraq during April to March FY 2018-19, up 2% from 45.74 million tonnes in 2017-18 fiscal, PTI reported […]
