Indias April Diesel Import breaks five-year record
The Dollar Business Bureau The extremely hot weather has boosted the demand for diesel at the power generators in South Asia. In April, India has imported 510,000 tonnes of diesel, which is the biggest volume of import in the last five years. The imports ramped up after the refiners found the supplies from private companies very expensive in the absence of discount on shipping and taxes. Due to summer demand and the disruption in the supply caused due to the recent strike at Kuwait Petroleum Corp, Pakistan imported 215,000 tonnes for the month of May. Petrolimex, Vietnamese trading company doubled the purchase of gas oil in April to 140,000 tonnes and has maintained the same value in May. These purchases have cut down Asia’s surplus ...
El Nino to raise the global rice prices
The Dollar Business Bureau Global rice prices are to see a spike from 10% to 20% in the coming few months as an EL Nino weather pattern rack the top producers in Asia desiccating to the cropland and sabotaging the grain stock to a multi-year low. Though the high prices may be a bad news to the countries in Asia and Africa, lower output will however help the next level exporter Thailand offload its swelling stock that have weighed on the market stocks and have pushed the stock prices down the normal benchmark of 7-1/2 years low of $367.50 per tonne in June. The scarcity in the annual rainfall linked to El Nino has already succeeded in disrupting the rice plantation in ...
Time to tweak Indias rice export policy
Bidhu Bhushan Palo | @TheDollarBiz There is good news for Indian rice exporters. According to industry estimates, India’s rice production is likely to reach (or at least remain) at record high levels of around 105 million tonnes again in 2014-15. This improves chances that India will retain its position as the world’s largest rice exporter, ahead of Thailand and Vietnam, for the third year in a row. Thailand lost its top rice exporter status for the first time in over two decades in 2011-12 to India. However, the reasons behind this are far from something that will make our exporters (or farmers) beam with pride. One reason was a glut in India due to a three-year ban on exports ...
