India, Russia Discuss Boosting Trade In Fisheries, Dairy Products
The discussions also focused on collaboration in research, education and emerging aquaculture technologies
Consumer
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Duty-Free Yellow Pea Imports Extended In India Until June To Curb Pulse Prices
- by BW Retail World Bureau
- April 6, 2024
India has extended the timeline for duty-free imports of yellow peas by two more months until June 2024, an official notification from the Directorate General of Foreign Trade said on Friday. In early December, the central government allowed duty-free imports of yellow peas until March 2024, later to be extended till April. It was part […]
National
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Trade
India Swaps Palm Oil For Sunflower Oil As Prices Rise
- by BW Retail World Bureau
- April 3, 2024
India witnessed a significant surge in March in sunflower oil imports, soaring by 51 per cent compared to the previous month, reaching the second-highest level on record. This increase was primarily attributed to lower prices, compelling refiners to boost their purchases of sunflower oil while decreasing their procurement of rival palm oil, according to the […]
National
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Russia Remains Top Oil Source For India, Despite Red Sea Woes
- by BW Retail World Bureau
- March 19, 2024
India continued to rely on Russia as its primary source of crude oil in January 2024, according to data from the commerce ministry. Russia accounted for nearly a third of all imported crude oil, with a value of USD 4.47 billion. This represents a 41 per cent increase year-on-year and a 14 per cent rise […]
National
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OPEC Eyes Regaining Dominance In Indian Oil Imports
- by BW Retail World Bureau
- March 7, 2024
OPEC is set to win a bigger share of India’s oil imports in coming decades due to the proximity of its supplies, the producer group’s head told Reuters, after its dominance was recently eroded by competition from discounted Russian oil. The share of oil from the Organisation of the Petroleum Exporting Countries (OPEC) imported by […]
National
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Trade
India To Shift Towards Soyoil, Reduce Palm Oil Imports In 2024
- by BW Retail World Bureau
- March 5, 2024
India, the world’s largest vegetable oil importer, is expected to buy more soyoil in 2024, while palm oil sales will likely fall, news agency Reuters reported on Monday. According to Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage and advisory business, India’s soyoil imports would increase to 4.3 million metric tonnes in the […]
International
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Russia Bans Petrol Exports For 6 Months To Meet Domestic Demand
- by BW Retail World Bureau
- February 28, 2024
Russia stated on Tuesday that petrol exports will be banned for six months beginning from 1 March to compensate for increased consumer and agricultural demand and to allow for planned refinery maintenance. RBC originally reported the ban, which was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak. Russia enforced a similar restriction from […]
Government
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India Extends Deadline For Duty-Free Yellow Pea Imports
- by BW Retail World Bureau
- February 24, 2024
India has extended the timeline for duty-free imports of yellow peas by a month through April, 2024, an official gazette notification said. In early December, the central government allowed duty-free imports of yellow peas until March 2024. It was part of New Delhi’s intervention to cool the prices of the overall pulse basket. Reportedly, the […]
Economy
International
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Oil Slips Despite Middle East Tensions, China’s Economic Concerns
- by BW Retail World Bureau
- January 30, 2024
Oil prices dipped on Monday in choppy trade as China’s ailing property sector sparked demand worries while rising tensions over the weekend in the Middle East intensified oil supply concerns. Brent crude futures were down 62 cents to USD 82.93 a barrel by 1430 GMT while US West Texas Intermediate crude futures were down 59 […]
International
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Trade
UNCTAD Warns Of Global Trade Threat As Red Sea Shipping Routes Buckles
- by BW Retail World Bureau
- January 29, 2024
Concerns mount over the severe disruptions in global trade as the United Nations Conference on Trade and Development (UNCTAD) issued a stark warning. The ongoing crisis in the Red Sea shipping route, compounded by geopolitical tensions in the Black Sea and climate-related challenges in the Panama Canal, is creating a complex and multifaceted challenge for […]