India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record low. […]
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading weak in India on Thursday, despite positive global trends. On Multi Commodity Exchange, gold August futures were ruling Rs 17 down at Rs 50,712 per 10 gram. So far this fiscal year, MCX gold has fallen 2.4 per cent. Silver September futures […]
Sugar mills have urged the government to allow exports of 8 million tonne (MT) of the sweetener under the open general licence (OGL) in the next season which commences on October 1. This, according to the Indian Sugar Mills Association (Isma), will help the sugar mills enter into future exports contracts well in advance prior […]
Reacting to the government’s move to restrict the export of sugar from June 1, the Indian Sugar Mills Association (ISMA) has said mills should be allowed to export an additional 1 million tonne of the sweetener in the current marketing season from October 2021 to September 2022. Shipments are the only viable option left for […]
State-run oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation may soon have to start raising retail prices in small tranches as the Indian basket of crude oil hit a decadal high of $121.28 per barrel on Friday. The Indian basket represents a derived basket consisting of sour grade […]
India, the world’s second-largest sugar producer, exported 3.06 million tonne (MT) of the sweetener until June 2 this fiscal — 53% higher than a year before — official sources told FE. The unusual surge lends some credence to the government’s fears that sugar stocks could be substantially depleted by the festival season if outbound shipments […]
Retail prices of wheat, edible oils and tomato have witnessed sharpest spike in the last one year while the rates of pulses such as chana and tur have declined.Traders say that factors such as heat waves during March-April have adversely impacted the yield of wheat and tomato, thus pushing up prices while global spike in […]
The Russia-Ukraine war has exposed India’s high vulnerability to global oil shocks as a country importing 85% of its crude oil requirement. Despite several policy incentives over the last few years to attract foreign investments in oil exploration and production, domestic output of hydrocarbons has been on the decline over the last decade. Both in […]
Global prices of soyabean, sunflower oil and palm oil have moderated by around 2% to 4% since Indonesia lifted the ban on palm oil exports last week. According to the food ministry data, current prices of three varieties of edible oil — which constitute about 96% of India’s edible oil imports — are ruling around […]
Breadcrumb Trail Links Oil & Gas FP Energy Commodities Disruption comes just as companies look to province for carbon capture incentives Following a 51.4 per cent approval rating from the leadership review, Jason Kenney stepped down as leader of the United Conservative Party on Wednesday evening. Photo by JIM WELLS/Postmedia Article content Alberta Premier Jason […]