The global food import bill is on course to hit a new record of US$1.8 trillion this year, but higher prices and transport costs rather than volumes account for the bulk of the expected increase, according to a new report released by the Food and Agriculture Organization of the United Nations (FAO). “Worryingly, many vulnerable countries are […]
Crude oil prices have risen sharply in the last few months, on the back of fall in Russian exports and demand cuts in China. Brent Crude and WTI crude futures were trading above $120 per barrel on Thursday morning and could rise further, said analysts at Goldman Sachs. On the demand side, analysts believe the […]
PSU energy majors ONGC and Oil India (OIL) came out with their January-March quarter (Q4) results late last week. Given the excessive volatility through the last quarter and the steady rise in crude and gas prices before that, these were eagerly awaited. Although both companies delivered profitability gains, sequentially (QoQ) and year-on-year (YoY), ONGC disappointed […]
The dairy farmers of Tirupur are affected after the increased price of cotton seeds led to an increase in the price of cattle feed. Cotton seeds are a vital part of the cattle feed and are rich in protein and fibre. Farmers told IANS that the price of cotton seeds has gone up from Rs […]
An over 40% shortfall in the cumin crop in Rajasthan and Gujarat, coupled with an exceptionally high export demand, has inflated prices of the commodity to Rs 4,500 per 20 kg. Traders and exporters in the Asia’s biggest seeds spices hub Unjha said that cumin spot prices hovered in the range of Rs 3,900 to […]
With cotton and yarn prices on the rise, cotton industry stakeholders met textiles minister Piyush Goyal to urge the government to ban export of cotton and textiles as a temporary measure to calm down the prices. Among the major suggestions that the industry came out with include a short-term ban on cotton exports, as no farmer is […]
Chicago wheat futures climbed by nearly 6% early this week after India banned exports of the grain, an abrupt policy change that fanned concern about global supply strained by Russia’s invasion of Ukraine. India’s embargo, prompted by a heatwave that has cut harvest prospects and sent domestic prices soaring, has hit hopes of record wheat […]
The head of the Food and Agriculture Organization of the United Nations (FAO) called on G7 nations to help anticipate future food shortages, as the war in Ukraine squeezes supplies, pushes prices to record highs and threatens already vulnerable nations across Africa and Asia. “We need to actively identify ways to make up for potential future […]
India is planning to cut taxes on some edible oils to cool the domestic market after the war in Ukraine and Indonesia’s ban on palm oil exports sent prices skyrocketing. India, the world’s top importer of vegetable oils, is looking to cut the agriculture infrastructure and development cess on crude palm oil imports from 5%. The new tax amount […]
World food commodity prices decreased in April after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, the Food and Agriculture Organization of the United Nations (FAO) reported today. The FAO Food Price Index averaged 158.5 points in April 2022, down 0.8 percent from the all-time high reached […]
