Exports of wheat flours have witnessed a sudden and unusual spike in the aftermath of the ban the outbound shipment of wheat, indicating that many traders may be using this route to beat the prohibition on the grain’s exports. Commerce, industry and food minister Piyush Goyal warned traders of action if they are found to […]
Rapeseed meal export is slated to increase during the current fiscal year 2022-23 due to increased crushing and solvent extraction of rapeseed cake, said Solvent Extractors’ Association of India (SEA). According to SEA, India is likely to be the competitive supplier to South Korea, Vietnam, Thailand, and other Far East countries. An increase in rapeseed meal […]
India’s oilmeals exports declined 36 per cent to 23.73 lakh tonnes in the last fiscal, while in value terms the shipments were down 37 per cent to Rs 5,600 crore on lower sale of soyabean meal in the overseas markets, according to industry data. Solvent Extractors’ Association of India (SEA) said in a statement that […]
Tata Steel said its consolidated steel output stood at 7.57 million tonnes for the quarter ended March 31, 2022, registering a year-on-year fall of about 3 per cent. The company had produced 7.80 million tonnes of steel during the January-March quarter of financial year (FY) 2020-21, Tata Steel said in a statement. Its total sales, […]
A surge in wheat and corn prices is boosting demand for low-grade rice in animal rations across Asia, pushing up prices of the world’s most important staple at a time when global food inflation is already hovering near record highs. Global crop importers are scrambling for supplies after Russia’s invasion of Ukraine severed grain shipments […]
Thailand is likely to offer stiff competition to India in the global rice market this year with its production rebounding from the lows seen in 2019 and 2020. It is India’s only competitor in the parboiled segment of the rice trade. According to the US Department of Agriculture (USDA), Thailand’s rice production during the 2021-22 […]
Nearly a third of India’s rice exports for January 2022 are stuck due to a shortage of freight trains. Most traders have stopped signing February export contracts to avoid demurrage charges, industry officials told Reuters. The slowdown in exports from India, the world’s biggest rice exporter, has allowed rival suppliers such as Thailand, Myanmar and […]
Oilmeal exports fell 67% to 1.7 lakh tonne in December 2021 due to a decline in export of soybean and rapeseed meal, according to the Solvent Extractors Association of India (SEA). The association, which has compiled the export data for December, said 1,70,338 tonne of oilmeal was exported in the month, compared to 5,16,006 tonne […]
Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move that saw holdings expand for the first time in decades. According to data from the Monetary Authority of Singapore’s (MAS) International Reserves and Foreign Currency Liquidity reports, the purchases were made over May and June this year, totaling about 26.3 […]
The Secretary for Food and Public Distribution, Sudhanshu Pandey warned of challenges in sugar exports from India in the 2021-22 season even though 1.8 million tonnes had already been contracted at the start of the season itself. Addressing the All India Sugar Traders Association (AISTA) on global sugar, he said that last year India was […]
