Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries. The governments from both countries signed a unitisation agreement to develop the Gumusut-Kakap and Geronggong-Jagus East offshore oil fields. Development will be managed by Malaysian state-owned Petronas and Brunei’s National Unitisation […]
Palm oil—the world’s most consumed cooking oil—took a heavy blow at the start of the week as Sri Lanka banned its import and told planters to phase out the tropical trees in favour of rubber or other environment-friendly crops. Sri Lanka’s President Gotabaya Rajapaksa ordered companies and other entities growing oil palm to remove the […]
After a tough exports season last year, mango growers in India are looking at higher exports this year, and targeting newer markets. Malaysia and Argentina have emerged as the new markets for the Indian mango this season with exports to the Middle East expected to commence next month onwards, senior officials of the Maharashtra State […]
Despite the 2021-22 Union budget failing to mention any import restrictions on solar cells and modules to boost domestic manufacturers, the ministry of new and renewable energy (MNRE) has not ruled out the imposition of basic customs duty (BCD) on such items. Addressing the media about the implications of the budget on the renewable sector, […]
Almost a month after the government of India lifted the ban on exports of onions, India has managed to export only 40,000-50,000 tonnes because of a lukewarm response from the international market. India exported onions valued at $198 million in the April-June period of FY21 and $440 million through 2019-20. The country had exported around […]
India’s sugar output surged 31% year on year to 14.27 million tonnes over the start of the crushing season on Oct. 1 to Jan. 15, data released by Indian Sugar Mills Association (ISMA) showed. The surge is due to an early start to cane crushing this season amid higher cane availability. A total of 487 […]
India’s sugar production increased by 42 per cent year-on-year during October-December period at 110.22 lakh tonnes on higher cane output and an early start of mills in Maharashtra, according to trade data. Sugar marketing year runs from October to September. Indian Sugar Mills Association (ISMA) said in a statement that mills produced 110.22 lakh tonnes […]
Sugar millers have appealed to the Centre to urgently announce a policy for the export of sugar. The appeal comes in the wake of a recent statement by Food and Commerce Minister Piyush Goyal that the government is currently not considering an extension of sugar export subsidies for the 2020-21 season in view of stable […]
India has initiated a probe into an alleged increase in subsidised imports of copper tubes and pipes, used air conditioning and refrigeration systems, from Malaysia, Thailand, Vietnam following a complaint by domestic manufacturers. Bombay Metal Exchange (BME) has sent a representation to the Directorate General of Trade Remedies (DGTR) stating that there is a steep […]
India’s palm oil imports in July 2020 rose 1.4 per cent from a year ago to 824,078 tonnes, the highest level in 10 months, as a gradual easing of lockdowns increased demand for the tropical oil from hotels and restaurants. The country’s soyoil imports in July surged 52 per cent from a year ago to 484,525 tonnes, […]
