Spinning mills in India seek govt intervention for sale of cotton by CCI at market price

The Southern India Mills’ Association (SIMA), a spinning mills body has asked the Union government to direct the Cotton Corporation of India (CCI) not to hoard the commodity and sell it at market price on a regular basis, reports Financial Express. “China, the largest consumer of cotton, has depleted its cotton reserves significantly in the […]

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China to buy $50 billion in US farm products in return for tariff concessions

Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing buying more American farm goods, Reuters reported quoting US sources. Beijing’s silence, however, fuelled questions over whether the two sides can come to a truce in their bitter trade […]

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Rain, early snows delay U.S. harvest in latest blow to farmers; exports to Asia to be affected

Excessive rains and an October snowstorm have stalled the harvest in the U.S. grain belt’s northern tier, one more blow to farmers already struggling with the effects of planting delays and a trade war that has pressured commodity prices, reports Reuters. The corn and soybean harvests are especially delayed in North Dakota and Minnesota – […]

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Cotton prices may fall further on higher output, weak demand: Ind-Ra report

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Cotton prices continued to reduce in August 2019, mainly due to a fall in international prices, rating agency India Ratings and Research (Ind-Ra) said in its latest report, adding that it expects prices to fall further as global production is likely to be higher than demand growth. With local prices (MSP) being higher than international […]

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Banks’ failure to help jewellery exporters compels them to seek Rs 6,000-cr tech upgrade fund for working capital

With raising working capital becoming increasingly difficult, jewellery exporters have urged the government to grant the sector Rs 6,000 crore under the Technology Upgradation Fund Scheme (TUFS), to save small businesses becoming extinct. “We are planning to put forth a proposal to the Union Finance Minister Nirmala Sitharaman seeking to extend a TUFS for small […]

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US-China trade war gives India hopes to tap $1-billion of jewellery export opportunity to US

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India’s gems and jewellery sector hopes to tap a $1-billion export opportunity arising out of the ongoing trade war between the United States (US) and China, reports Business Standard. The opportunity came India’s way after the US levied a 10 per cent import duty on import of gems and jewellery from China, taking the tariff to 20.5 per cent. […]

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