Data indicates that the overall imports from Russia in the first nine months of 2022-23 are already more than the thrice the value in the whole of 2021-22. In the case of petroleum products, this is more than 9 times.  Factly.in Factly.in, using data from the Department of Commerce's Export-Import Databank, has estimated that from April-December 2022, the total value of all imports from Russia was worth $32.82 billion, a majority of...

-Business Standard Claims that GM mustard will lead to increased yield are incorrect; we must focus on other solutions. India is the fifth-largest producer and also the seventh-largest importer of edible oils in the world. Though significant progress has been made in the production and yield of oilseeds in India, our annual vegetable oil import has been about $10 billion in recent years. The Ministry of Environment is allowing for genetically modified...

-Networkideas.org The Russian invasion of Ukraine and the subsequent war sparked rapid and dramatic increases in some global trade prices, particularly for fuel products, wheat and fertilizer for which Russia and Ukraine are major exporters. It is now clear that these price changes were not due to actual changes in total supply, which remained largely unchanged (although source locations and trade routes shifted). Instead, market expectations amplified by media hype, financial...

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...