A global poll conducted by news agency Reuters inferred that the world economic recovery looked ever more shaky, as the pandemic raged on. In a worst-case scenario, the poll indicates, the world economy will contract 6.5% this year, much worse than the International Monetary Fund’s -4.9% projection, then grow just 2.0% next year. India’s fiscal […]
Profits at Indian basmati rice companies are set to rise by 100-150 basis points this fiscal year amid low procurement prices and stable overseas demand, according to rating agency CRISIL. Paddy prices are expected to fall by 17% this fiscal from an average of Rs 36/kilogram last fiscal amid prospects of good monsoon rains that is […]
Indian spot gold prices charted a fresh record high of Rs 50,070/10 gram on Wednesday, tracking international prices that have risen on expectations of monetary stimulus packages in the US and Europe. International gold prices are at $1,860/ounce, reaching within striking distance of their record price of $1,924/oz in September 2011. European Union leaders have agreed […]
Heavy monsoon rains over the Indian subcontinent have raised concerns whether the world’s largest exporter of rice will be on track for another record crop. Parts of India’s eastern states of Assam and Bihar have been inundated, with heavy rainfall in the catchment areas of Nepal’s Gandak river submerging nearby areas. Both the states are […]
After rallying by 4.8 per cent in a day, with its price touching Rs 54,850 per kg in Mumbai’s spot market on Tuesday, silver seems to be becoming the new gold. On the MCX, September futures are trading above Rs 57,000 per kg. Since March-end, silver has given 39 per cent return to investors as against gold’s […]
China’s top central banker last week urged the International Monetary Fund (IMF) to issue hundreds of billions of dollars of liquidity to its 189 member countries through a general allocation of Special Drawing Rights (SDRs) despite U.S. objections. Yi Gang, governor of the People’s Bank of China, wrote in an opinion piece in the Financial […]
Ten percent higher monsoon rains than normal have led to a 21.2 percent spike in area under kharif crops in India, the agriculture ministry said, adding that the total acreage under crops had risen to 692 lakh hectares (ha) by July 17 against 570.86 lakh hectares area during the corresponding period of last year. The […]
The soybean acreage in the country this year is expected to touch an all-time high, exceeding the previous high of 11.72 million hectare achieved in 2013-14. Early arrival of monsoon and well- distributed rainfall in the main growing regions of Madhya Pradesh and Maharashtra have prompted sowing of the oilseed. Farmers are expecting a bumper […]
With the monsoon in full swing, crop sowing in India is off to a strong start with around 43.3 million hectares already sown, significantly higher than around 23 million hectares sown last year till this week, according to government data. Last week, rainfall picked up and most parts of the country received above average showers […]
Kharif crop sowing has got a headstart as India has been receiving healthy monsoon rainfall this year. Last week, rainfall picked up and the country received above average showers for almost an entire week. Overall through July, India has received above average rainfall so far. The rainfall received in July and August is critical to […]
