BIMAN MUKHERJEE Indian basmati rice exports to Iran, which accounts for a quarter of the total market, have been hit by inordinate payment delays as war clouds gather in the horizon, exporters said. Total payment of around Rs 1,700 crore are stuck as Iranian authorities have not released payment orders for buying Indian basmati rice. […]
China will remove the joint venture requirement for foreign companies wanting to enter its oil and gas industry as it moves to open up a range of industries as per a pledge it made during its continuing trade dispute with the United States. Bloomberg reports the Chinese National Development and Reform Commission had announced it would remove the joint […]
The International Grains Council (IGC) cut its forecast for world corn and soybean crops in the 2019/2020 season after heavy rains disrupted plantings in the United States. The inter-governmental body said in a monthly update it had cut its global corn crop forecast by 23 million tonnes to 1.095 billion tonnes “largely owing to a […]
Liquefied Natural Gas (LNG) prices are currently at $5 per million metric British thermal unit (mmbtu), down from a peak of $10 per mmbtu as recently as November 2018, credit rating agency CRISIL Research said in its latest report. The decline has been due to increasing supply in global markets from newly commissioned projects in […]
Chandrayaan-2, India’s second lunar mission, will explore the south side of the moon, a region where no mission has ever set foot. India’s space agency unveiled last week the spacecraft that it hopes will get to the Moon by September, making the country the fourth to achieve a soft landing on the Earth’s natural satellite […]
Global soybean production in 2019-20 is forecast to reach 355.4 million tonnes, a 2 per cent year-on-year decline, as US soy harvest is estimated to decline due to low prices, high carry-over, weather issues, and uncertainty over trade with China, according to the US Department of Agriculture (USDA). In 2019-20, Brazil and US will continue […]
With global harvested area for cotton projected at its highest in 7 years, and yields rebounding in major producing countries, production is expected to rise 7.0 million bales to a near-record 125.5 million 2019-20, the US Department of Agriculture (USDA) said in its latest report. U.S. production is expected to rise the most, closely followed […]
A drop in acreage and reduction in yields due to extreme weather conditions in the US have raised fears that the overall corn output in the US may fall in the marketing year-ending August 2020, which could potentially lift global prices sharply, analysts fear. Analysts see corn prices touching $5/bushel in around the next three […]
Finally, after deferring retaliatory tariffs on the US for months, India has decided to impose higher tariffs on 28 American products including almonds, apples and walnut effective June 16, the government said in a notification. The retaliatory tariffs, triggered by the US announcing higher duties on Indian steel and aluminium last year, were deferred multiple […]
India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month. India joins Greece, Italy, Taiwan and Turkey which have stopped importing Iranian oil. The US reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. To reduce […]
