Commodities News

Government extends relaxed fumigation norms for onion imports till December 31

Agriculture Ministry has extended relaxed fumigation norms for imported onions up to December 31, in a bid to improve domestic supply and check prices that have skyrocketed up to Rs 100 per kg.

States should dismantle APMCs, adopt eNAM for farmers’ benefit: Nirmala Sitharaman

e-NAM is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities. So far, 21 e-NAM mandis of eight states namely Uttar Pradesh, Uttarakhand, Andhra Pradesh, Telangana, Rajasthan, Gujarat, Maharashtra and Madhya Pradesh had joined hands to start inter-state trade on e-NAM.

Oil drops as market awaits news on trade talks, oversupply concerns weigh

US West Texas Intermediate (WTI) crude was down 18 cents, or 0.3 per cent, at $56.68 a barrel. The contract dropped 0.7 per cent in the previous session. Brent crude futures were down 14 cents, or 0.2 per cent, at $62.04 a barrel by 0256 GMT, after falling 0.5 per cent on Monday.

Wheat sowing down 37 per cent so far; oilseeds up

According to the latest data released by the agriculture ministry, farmers have planted wheat in an area of 9.69 lakh hectare till last week of this season, compared with 15.35 lakh hectare a year ago.

Government gives three months more till December for export of last year’s balance sugar quota

Mills were able to export about 3.8 million tonne of sugar during the 2018-19 marketing year (October-September) due to depressed market conditions, against the target of 5 million tonne under the Minimum Indicative Export Quota (MIEQ) scheme.

100 per cent FDI in coal mining to help India achieve 300 MT steel output target: Deloitte

In August, the government had allowed 100 per cent foreign investment in coal mining and contract manufacturing.

No discord between Tea Board and industry: Official

Tea Board India on Thursday said that there is "no discord" between the statutory body and the industry and the government will continue to provide assistance in various forms.

Rice exporters require certification of inspection to export to European Union

Rice exporters in India will now have to obtain a certification of inspection from a government agency to ship both the basmati and non-basmati varieties to countries of the European Union.

Festive season buying lifts auto sales in October

This is the first time in the last seven months that the company has seen an increase in its domestic sales. Despite being in the negative territory, Mahindra & Mahindra managed to arrest a decline in sales, posting an 11 per cent dip at 49,193 units.

Wheat MSP raised by Rs 85/quintal; lowest hike in last four years

Further, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, also gave nod to a hike in the MSPs of barley and rapeseed and mustard for Rabi Market Season (RMS) 2020-21.

Fuel retail business rules eased: non-oil firms can now set up petrol pumps

The Centre said the move will lead to healthy competition as more private players, including foreign players, are expected to invest in retail fuel marketing and also bring in foreign capital.

India’s fuel demand dips to lowest in over two years

Diesel, the most used fuel in the country, saw demand drop by 3.2 per cent to 5.8 million tonnes, while naphtha sales were down by a quarter to 844,000 tonnes.