Brazil sees huge jump in share of China’s cotton import market but most countries to see declines of up to 73% – ICAC

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China and the United States might have suffered from the Covid-19 virus like every other country — and continued to batter each other with tariffs, as well — but they will remain the world’s largest cotton importer and exporter, respectively, the International Cotton Advisory Committee (ICAC) said in its latest monthly report. Although Phase One […]

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Satellites reveal major new gas industry methane leaks

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Last year, European Space Agency satellites detected huge plumes of the invisible planet-warming gas methane leaking from the Yamal pipeline that carries natural gas from Siberia to Europe. Energy consultancy Kayrros estimated one leak was spewing out 93 tonnes of methane every hour, meaning the daily emissions from the leakage were equivalent to the amount […]

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Implications for key commodities high after Hong Kong vote; India hit by locusts, rising farm wages

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While relations were already fraying between the United States and China as a result of the coronavirus outbreak, Beijing’s vote this week to end Hong Kong’s autonomy may serve as a key turning point in relations between the two economic powerhouses. In response to China’s action, Secretary of State Mike Pompeo said that Hong Kong […]

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Record wheat and barley harvests seen lifting world grains output by 40 million tonnes in 2019/20

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Record harvests of wheat and barley are expected to outweigh a poorer maize crop to lift world total grains — wheat and coarse grains — production by 40m t in 2019/20, to 2,177m, only modestly below the all-time peak in 2016/17, the International Grains Council (IGC) said in its latest monthly report. Consumption is forecast to climb […]

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World Gold Council bullish on retail jewellers; says significant audience to be captured in India

In its latest retail trends report, the World God Council (WGC) has said India’s cultural identity is greatly intertwined with gold. Nearly 60 per cent of Indian women own gold jewellery and 37 per cent of them have not bought gold jewellery in the past but are open to buying it in the future, according to the World Gold Council’s (WGC’s) […]

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Fitch Ratings makes further cuts to global GDP forecasts, but says global recession bottoming out; India decline seen at 5%

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Fitch Ratings said it was making further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but added that the slump in global economic activity was close to reaching its trough. “World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April […]

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