WTO members including the US question India on several subsidy schemes

World Trade Organization (WTO) members, especially the US, have questioned India on various subsidy schemes like RoDTEP, a key export tax refund scheme, Agriculture Infrastructure and Development Cess (AIDC), subsidy on crop loans, import duty on cotton and ban on onion exports.  Seeking “an update on the operational status and guidelines” of the Remission of […]

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Oilmeal exports from India rise by 49% in 11 months till February 2021

Export of oilmeals jumped by 205 per cent in February 2021 to 393,309 tonnes, compared with 128,761 tonne in February 2020, according to data compiled by the Solvent Extractors’ Association of India (SEA). For the eleven-month period between April 2020 to February 2021, the overall export of oilmeals recovered sharply and stood at 3,358,649 tonnes […]

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Is another LNG glut round the corner?

The recent record-high LNG spot prices in Asia highlighted the more stable prices of the gas for LNG buyers in long-term supply contracts compared to the much higher volatility in spot prices, says oilprice.com. However, long-term supply is indexed to the inherently volatile oil prices.  Global natural gas demand is set to return to pre-crisis levels as […]

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India’s oil import from north America in January 2021 hits a record

The United States and Canada accounted for 11 per cent of India’s crude oil imports in January—a record-high share of North American crude for the world’s third-largest oil importer, Reuters reported, citing data obtained from trade sources. India’s total crude oil imports last month averaged around 4.8 million barrels per day (bpd), down from a three-year […]

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US metal manufacturers urge President Biden to drop Section 232 tariffs on steel and aluminium

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The Coalition of American Metal Manufacturers and Users (CAMMU) sent a letter to President Joe Biden requesting the immediate termination of the Section 232 tariffs on steel and aluminum, stating that the tariffs imposed under former President Donald Trump have damaged metals consuming industries. The group said it was pleased to see Biden’s executive order […]

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Silver price will outshine gold as demand hits 8-year high in 2021: Silver Institute

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Global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the US-based Silver Institute said, predicting that prices would rise. The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money. […]

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