The United States has surpassed Kuwait to become India’s sixth largest oil supplier as it supplied 70 per cent more crude to the world’s third largest energy consumer during April-September. According to data furnished by the oil ministry to parliamentary committee, the US supplied 5.4 million tonnes of crude oil during the first six months […]
Netherlands-based Nedspice estimates global pepper production to decline this season by 74,000 tonnes for the first time after several years, mainly driven by unfavourable weather in Vietnam, reports Financial Express. However, the mismatch between global supply and demand of the spice will continue to put pressure on the price with supply seen higher by almost […]
Afghanistan’s news agency Khaama Press reported that President Mohammad Ashraf Ghani cancelled the contracts held by the Turkish Afghan Mining Company TAMC and the Afghan Gold and Mineral Company AGMC, which allowed them to exploit the Badakhshan gold mine and the Balkhab copper mine in the northern Sar-e-Pul province. Both TAMC and AGMC are joint ventures (JVs) formed by US-based […]
The International Grains Council (IGC) has raised its forecast for world total grains (wheat and coarse grains) production in 2019/20 by 5 million tonnes month-on-month to 2,162 million tonnes, mainly because of an upgrade for maize. Reflecting better than expected yields, but slightly smaller than predicted harvested area, the outlook for the US maize crop […]
High cotton production due to greater-than-average rainfall in the country and increased sowing by farmers may adversely impact prices. As per Cotton Corporation of India (CCI) estimates, cotton production is likely to increase 13.6 per cent to 35.5 million bales (170kg) for the October 2019-to-September 2020 season. Area under cotton cultivation has increased by 6 […]
Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad has weakened, according to EIA data compiled by Reuters market analyst John Kemp. Year to date, U.S. refiners’ crude processing has declined for the first time since the 2008-2009 crisis. Faced […]
The Supreme Court of India has unconditionally approved ArcelorMittal India Private Limited’s (AMIPL) resolution plan for Essar Steel India Limited (ESIL). Completion of the transaction is now expected before the end of the year. After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation, Japan’s largest steel producer and the […]
The United States has announced the initiation of new anti-dumping duty and countervailing duty investigations to determine whether forged steel fittings from India and South Korea are being dumped in the country and to find if producers in India are receiving unfair subsidies. These investigations were initiated based on petitions filed by Bonney Forge Corporation […]
The World Gold Council launched its new consumer research report highlighting opportunities for gold for those working in both retail investment and jewellery markets. The significant piece of research, with an 18,000-strong sample, looks at a range of markets including China, India, North America, Germany and Russia, and highlights unique insights into attitudes towards and […]
CRISIL expects shrimp exports from India to nearly double to $7 billion by 2022, driven by strong demand, high quality, improved product mix, and an increase in aquaculture area in Andhra Pradesh, Gujarat, Odisha and West Bengal – even as its Asian rivals battle structural issues and rising domestic consumption. In fiscal 2016, India became […]
