-Financial Express SEA has stated that the ban on futures trade has deprived importers of hedging their price risks in rupee-denominated soya oil and crude palm oil futures on Indian exchanges. The Solvent Extractors’ Association (SEA) of India, a body of edible oil manufacturers, on Monday demanded lifting of ban on futures trade in soya oil and crude palm oil (CPO) on the commodity exchanges imposed on December, 2021, to ensure risk...
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Merchandise exports remain flat at $33 billion in August -Vikas Dhoot
-The Hindu On conservating estimate, exports will cross $750 billion amid global headwinds, said Commerce Secretary India’s merchandise exports contracted 1.15% in August to $33 billion, while inelastic Imports of petroleum and coal remained firm, lifting Imports above the $60 billion mark for the sixth successive month. The country’s goods trade deficit moderated slightly from the record $30 billion in July, but remained the second highest on record at $28.68 billion, more than...
More »World Bank's New Warning On Sri Lanka Amid Severe Food Price Inflation
-Asian News International/ NDTV.com Sri Lanka Economic Crisis: This comes as food price inflation remains at a multiyear high in South Asian countries including Pakistan. Colombo: Sri Lanka is ranked fifth among the 10 countries with the highest food price inflation in the world, according to the latest World Bank assessment. In its Food Security update, the World Bank said trade policy actions on food and fertilizers have surged since the beginning of...
More »Patra: India can sustain CAD of 2.5-3% without an external sector crisis
-The Telegraph Overall current account deficit in July rises to $21.04 billion (merchandise and services), commerce ministry reports on Friday Mumbai: Reserve Bank of India deputy governor Michael Patra has tried to soothe concerns about the anticipated surge in India’s current account deficit, suggesting that the country will not be roiled by a crisis if the CAD climbed to anywhere between 2.5 and 3 per cent of GDP. “Our experience has been that...
More »Why India doesn’t need palm oil but its greener alternatives -Bhavani RV and RS Vaidyanathan
-Down to Earth blog Palm oil is water-intensive and requires large patches of land India is the second-largest consumer of edible oil globally and its largest importer. While the government has taken several initiatives over the years to increase the domestic production of edible oils, its shortage and high price are often in the news. Palm oil production grew between 2015-2016 and 2020-2021 at a compound annual growth rate of 6.1 per cent,...
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