The decline in rice crop yields in Thailand and Vietnam and their increased costs of production may turn out to be a bonanza for India’s rice exports in this fiscal year, trade sources said. India is exporting rice at around $360 a tonne to key markets at present while Thailand and Vietnam are offering the…
Oil edged up on Wednesday, a day after prices fell through $100 a barrel for the first time since April, but gains were limited by caution ahead of U.S. inflation data that could weaken the market. Brent crude futures were up 45 cents, or 0.5 percent, at $99.97 a barrel. U.S. West Texas Intermediate crude…
The Indian rupee (INR) decreased further on Tuesday against the U.S. dollar and hit a new low of 79.66 before closing the day at 79.60. The Indian rupee has lost a little over 7% for the year. On the one hand, the rising dollar is weighing on the rupee, and on the other, the continuous…
Maize (corn) exports from India have dropped to a trickle as high domestic prices have made its shipments uncompetitive in the global market. “Brazil is shipping to stations, such as Vietnam, at a very competitive price of $320 a tonne cost and shipment. But, over here, domestic prices are ruling higher, making exports unfeasible,” said…
Coal India Ltd (CIL) registered a 65% growth in capital expenditure at ₹3,034 crores during the first quarter (April-June) of the current financial year compared with ₹1,841 crores same period last year. The Stateowned miner, which had scaled up its capital expenditure to ₹14,834 crores for the year ended March 31, 2022, is likely to…
Cotton imports by a few spinning mills in Tamil Nadu are likely to result in trade discussions with the buyers yet to get delivery of consignments over the last few months. Some of the mills which had to receive these imported cargoes in March and April have not got any response from the sellers over…
The central government is likely to cut or abolish the recently-imposed export taxes on key steel products soon, while also raising the impost on iron ore dispatches. The move comes amid concerns expressed by steel makers that while domestic demand has remained dulled in recent months, companies are losing out to overseas customers due to…
The Indian rupee hits a fresh record low against the U.S. dollar on July 11 amid weakness in the domestic stock market and as concerns about global economic growth continued to support the safe-haven greenback. The partially convertible rupee was trading at 79.41 per dollar compared to its previous close of 79.25 on Friday. The unit had hit…
Gold prices remain unchanged on Saturday. 10 grams of 24-carat gold is currently trading at Rs 51,110, whereas, 10 grams of 22-carat gold is trading at Rs 46,850. Silver prices also remain unchanged with one kg of silver metal trading at Rs 57,000. A variety of factors, including manufacturing charges, state taxes, and excise duty, have…
Indian equity market regained the lost momentum and gains nearly 3 percent during the week ended July 8, tracking positive global cues, a good monsoon, reduced FIIs selling, and falling commodities prices. For the week gone by, BSE Sensex advanced 1,573.91 points (2.97%) closed at 54,481.84, while the Nifty 50 added 468.55 points (2.97%) settled at…
