Oil prices weakened slightly on Friday, but remain set for a second weekly gain as positive US economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support. Brent crude futures were down 94 cents at USD 81.50 a barrel by 12:12 a.m. ET (17:12 GMT), having set […]
India’s coffee exports declined in 2023, falling 5.4 per cent to 3.77 lakh tonne compared to 2022, data from the Coffee Board of India revealed. This dip was primarily driven by a 15 per cent decrease in Robusta shipments, which fell to 1.87 lakh tonne. However, Arabica coffee shipments bucked the trend, registering a 5.79 […]
India’s coffee exports reached a new peak in value during the calendar year 2023, driven by higher global prices despite a 5.5 per cent decline in volumes due to reduced offtake by key buyers in Europe and Russia. The exports surged by 4.50 per cent to achieve a record USD 1.16 billion in 2023, compared […]
In the wake of the Russian invasion of Ukraine, the 12th package of sanctions over the import of Russian diamonds into G7 countries and restrictions on deliveries of diamonds to the European Union came into effect today, Russian News agency TASS reported on Monday. It said in its report that G7 nations announced the introduction […]
In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war. A recent report from a parliamentary panel highlighted that all import deals were executed within the scope of Western sanctions imposed on Moscow for its involvement in the conflict, as per […]
Easing global oil prices would help India boost imports from Russia, a senior government official said on Friday, as a lower than USD 60 a barrel price of Russian oil will enable buyers to use Western services such as insurance and ships. The Group of Seven large economies known as G7 and some other nations […]
A G7 statement announcing a ban on imports of Russian diamonds is expected by the end of this month, followed closely by a proposal for the European Union’s 12th package of sanctions on Russia, diplomatic sources said. “We now need the final blessing of the G7 before then translating these elements in legal texts at […]
India’s trade data for September 2023, released by the Commerce Ministry, reveals a decline in exports by 2.6 per cent, which amounted to USD 34.5 billion compared to USD 35.4 billion in September 2022. “UK delegation will be in India for FTA negotiation. High-level engagements at various levels are ongoing to iron out differences. The […]
Investors are focusing on a tighter supply outlook as oil prices rose on Monday. This comes after Moscow issued a temporary ban on fuel exports while remaining cautious about further rate hikes that could dampen demand. Brent crude futures increased by 0.5 per cent, or 48 cents, to USD 93.75 a barrel by 0110 GMT […]
India’s vegetable oil imports have increased by 33 per cent year-on-year (YoY) to reach 18.66 lakh tonne in August. This is attributed to lower duties and a revival of demand after a decline in domestic rates, as reported by the Solvent Extractors’ Association (SEA). India is the world’s leading vegetable oil buyer, and its imports […]
