Fear of imports and the inability to sell the stocks purchased by Food Corporation of India (FCI) led GOI to announce another 10 percent increase in the wheat import duty. A 15 percent tariff was imposed in August 2015 as flour millers in southern India had started importing wheat from Australia.
Cotton Prices Stable, but Market Panics For cotton’s MY 2014/15 (ending 30 September), the Cotton Corporation of India (CCI) purchased 8.7 million bales, 21 times more than the 400,000 bales in MY 2013/14. Experts estimate that the CCI will need to buy at least 12 million bales in MY 2015/16, although there is no fixed target yet. The increase in CCI’s purchases is being attributed to a drop in those by the biggest importer,...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
The Middle East is said to be undergoing a transformation as economic priorities transcend security concerns. This is evidenced by diversification away from oil and the UAE’s departure from OPEC. Meanwhile, the Palestine issue has been deprioritized, and Iran has emerged as more destabili...
All eyes are shifting to the Senate following the House passage of a farm bill last Thursday. Senate Agriculture Committee Chair John Boozman (R-Arkansas) is targeting the end of May or early June for a bill markup. According to Boozman, the House “going ahead and passing something was re...
