As oil tanks, Saudi Arabia’s next effort to boost prices may be targeting US oil inventory data

Hellenic Shipping News| June 16, 2017 The unrelenting slide in crude prices is pressuring Saudi Arabia and other major oil producers, and their next tactic may be to try to reduce the highly visible U.S. oil inventories.U.S. weekly inventory data is perhaps the most frequent and visible source of oil storage data, showing U.S. inventories [...]

2017-10-16T14:36:52+00:00 June 16th, 2017|International|

April, May show pick-up in steel consumption

Business-Standard| June 16, 2017 Steel consumption has picked up marginally in the first two months of the financial year. According to the Joint Plant Committee data, the consumption of finished steel has increased by 4.2 per cent on a year-on-year basis to 13.8 million tonnes during the period April-May. As far as non-alloy steel is concerned, it's higher by 5.4 [...]

2017-06-16T10:49:14+00:00 June 16th, 2017|Uncategorized|

India steel: Supply likely to exceed domestic demand

Metal Junction| June 15, 2017 Following strong 8.5% y-o-y (7.6 million ton volume) growth in Indian crude steel production in FY17, we would focus more on sluggish domestic steel demand, since this would determine further volume/price growth over FY17-20. Expected capex spends in large steel consuming sectors do not lend comfort to support 4.5% CAGR [...]

2017-06-16T10:50:31+00:00 June 15th, 2017|Uncategorized|

Vidarbha, Marathwada farmers’ crop pattern fetches low loans

Indian Express| June 15, 2017 The crop pattern in western and north Maharashtra gives an advantage to the farmers to avail of higher loan component compared to their counterparts in the backward districts of Vidarbha and Marathwada regions of Maharashtra, officials in the agriculture ministry said.A source in the government said: “The agriculture loan for [...]

2017-06-16T10:47:09+00:00 June 15th, 2017|Economy|

Fall in domestic crushing pushes up veg oil imports

The Hindu Businessline| June 15, 2017 Sustained lower prices of oilseeds following a bumper crop have discouraged farmers from bringing their crop for crushing, which in turn has resulted in a sharp jump in the import of vegetable oils in India.According to the latest data shared by the Solvent Extractors' Association of India (SEA), imports [...]

2017-10-16T14:36:52+00:00 June 15th, 2017|Uncategorized|

Food grain stock stands at 0.49m tonnes

Commodity India| June 15, 2017 The country’s food grain stock in the government silos stood at 0.49 million tonnes at the beginning of this week.The food ministry statistics showed that, of the total stock, some 0.19 million tonnes are rice and 0.30 million tonnes wheat.The data also showed that total import of food grains in [...]

2017-06-16T10:45:42+00:00 June 15th, 2017|Agri Commodities|

Castorseed futures fall Rs 29 per quintal on weak cues

Commodity India| June 15, 2017 Castorseed prices drifted lower by Rs 29 to Rs 4,288 per quintal in futures trade today as participants indulged in trimming their bets in tune with weak domestic markets. Marketmen said cutting down of positions by traders, tracking a weak trend at the spot markets, led to fall in castorseed [...]

2017-06-16T10:44:38+00:00 June 15th, 2017|Agri Commodities|

GST regime: Grain merchants shut shops as protest against 5% tax

Business-Standard| June 15, 2017 Grain merchants in the city pulled down shutters on Thursday as a mark of protest against the 5 per cent GST on branded grains.Most wholesale grain and pulse shops remained closed in Naya Bazar, said Ashok Kumar Bansal, General Secretary, Grain Merchant Welfare Organisation.Bansal said the organisation pitching for a lower rate will write a [...]

2017-06-16T10:44:01+00:00 June 15th, 2017|Economy, Uncategorized|

Government to soon unveil new shipbuilding policy

Economic Times| Jun 15, 2017 New Delhi: The government will soon come out with a new shipbuilding, breaking and repair policy with an aim to double the size of the industry to Rs 20,000 crore by 2022. A top government official said the new policy will have a special focus on building a niche capacity and [...]

2017-06-16T10:40:57+00:00 June 15th, 2017|Uncategorized|