-The Hindu The West’s attempt to cut Russia’s oil revenues without drastically affecting global oil supplies may be too fine a balancing act in the longer run The Group of Seven (G7) countries, the European Union and Australia have imposed a price cap on Russian sea-borne oil to make it harder for Russia to fund its war against Ukraine. Under the plan, which took effect on December 5 , Western companies that...

There is some respite expected for India in terms of prices of imported commodities. This may ease the depletion of its foreign exchange reserves. The country has faced a widening of its merchandise trade deficit from US$ -17.91 billion to US$ -26.91 billion between October 2021 and October 2022. The commodity price data provided by the World Bank in December 2022 (termed as The Pink Sheet) shows that energy prices plummeted by...

-ThePrint.in With prices of chana trickling for two years now, the government must revisit its policies and save the crop before it is too late. Chana prices in India have been ruling below their minimum support price (MSP) levels since the last two years. But unlike cereals, edible oils, and vegetables, where inflation is regularly reported, falling prices of such crops seldom make it to the national media. These prices are important...

-Outlook India/ With PTI inputs The UAE and Indonesia launched the MAC on the sidelines of the UN climate summit COP27, being held in Sharm El Sheikh in Egypt from November 6 to 18. The collaboration aims to strengthen the conservation and restoration of mangrove ecosystems worldwide. India, Australia, Japan, Spain and Sri Lanka have joined it as partners. At the 27th session of the COP, Mangrove Alliance for Climate (MAC) was...

-Business Standard Currency depreciation in developing countries could deepen food and energy inflation: Commodity Markets Outlook report Global energy prices will ease in the next couple of years but "remain considerably" higher than the historic average, said a report on Wednesday. In many economies, prices in domestic-currency terms remain elevated because of depreciation and this could deepen food and energy crises. "As the global growth slowdown intensifies, commodity prices are expected to ease in...