OECD gas output fell 3.2% in January

Natural gas production in member nations of the Organisation for Econonic Co-Operation and Development fell by 3.2% on year in January, according to the International Energy Agency (IEA). The fall was led by the United States, where production declined by 2.8% amid the Covid outbreak. Production of European members fell by 5.9% mostly due to […]

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China’s cotton imports set to increase to 2.4 million tonnes this marketing year

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China’s cotton imports are projected to increase marginally to 2.4 million metric tonnes in the current marketing year to meet higher demand for textiles and apparels, according to a report of the US Department of Agriculture (USDA). Its cotton imports last year were 2.3 million metric tons. World’s largest cotton supplier US exported 884,000 metric tons to […]

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Stronger global economic recovery seen one year into pandemic, but future still daunting, says IMF

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The International Monetary Fund (IMF) projected a stronger recovery for the global economy in its latest World Economic Outlook, but said the future was still daunting as the world still faces extreme social and economic strain one year into the Covid-19 pandemic. “We are now projecting a stronger recovery for the global economy compared with our […]

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Initial USDA 2021/22 world cotton outlook shows higher prices, lower stocks

World cotton consumption is expected to exceed production for the second year in a row, reducing world stocks by 3.2 million bales, the U.S. Department of Agriculture has said. World cotton production is expected to rise 4.7 percent with the most significant year-over-year growth in Pakistan, Australia, Brazil, the United States, and West Africa. Global […]

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U.S. levies anti-dumping duties on aluminium sheet from 18 countries, including India

The U.S. Commerce Department issued final anti-dumping duties on common alloy aluminium sheet from 18 countries, including up to 242.8 per cent on imports from Germany and 4.83 per cent on imports from Bahrain. The International Trade Administration issued a fact sheet showing anti-dumping and anti-subsidy rates for other countries, including Brazil, Croatia, Egypt, Greece, […]

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Gold prices will gradually appreciate throughout 2021, says Ed Moy

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Chief strategist for U.S. fractional gold retailer Valaurum and former U.S. Mint Director Ed Moy spoke to Biman Mukherji of indoasiancommodities.com about how policies of the incoming U.S. President Joe Biden administration and prevailing economic uncertainty is likely to fuel gold’s rally over the medium to long term. Moy believes that the favourable conditions for gold will remain intact […]

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COMMENT – Can gold extend its gains in 2021?

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Gold prices surged in 2020 owing to the uncertainties over Covid 19 and touched an all-time high of $2075 at Comex and Rs. 56,200 per 10 grams at MCX backed by safe-haven appeal, lower US Treasury yields and near-zero interest rates. However, the prices corrected immediately after the Covid vaccine was announced, that triggered asset rotation increasing the demand for […]

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China to overtake EU as the world’s largest wheat producer in 5 Years : IGC

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China could overtake the European Union as the world’s largest wheat producer over the next five years even as global wheat production will climb to record highs, buoyed mainly by increases in yields, according to the International Grains Council (IGC). World’s output of the grain is expected to climb to 822 million tons by 2025/26, […]

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