India mulls extension of parboiled rice curbs ahead of key polls

India is considering extending an export levy on parboiled rice to control local prices before key polls, potentially raising the risk of higher global food inflation. The government may extend a 20% export levy, due to expire on October 15, to keep a lid on domestic prices.

The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.

India’s diesel exports to Europe reached a record high in September, driven by arbitrage profits and a seasonal decline in domestic demand. The surge in exports will help Europe build commercial stockpiles ahead of the winter heating season and limit price gains. However, experts predict that export volumes are unlikely to continue at the same […]

The influx of cheap sunflower oil from Russia and Ukraine is causing palm oil prices to decrease. The two top producers are taking advantage of currency depreciation to gain a larger market share. Sunflower oil, which normally has a higher price, is now cheaper than soyoil and only slightly more expensive than palm oil.

According to ET Now sources, the export curb is due to poor seasonal monsoon rainfall which is vital for India’s $3 trillion economy. It brings nearly 70 per cent of the rain the country needs to water crops and replenish reservoirs and aquifers, reported Reuters.

The International Monetary Fund’s executive director, KV Subramanian, believes that India will be able to handle the spike in crude oil prices caused by the conflict in Gaza. He stated that India’s strong handling of the pandemic and its balanced approach to supply and demand measures have positioned the country well. However, he noted that […]

India and the UK are expected to sign a free trade agreement (FTA) at the end of this month, marking India’s first comprehensive deal with an industrialized nation. The agreement aims to boost bilateral trade beyond the current $20 billion. India has invited UK Prime Minister Rishi Sunak to visit India on October 28 to […]

The ongoing conflict between Hamas militants and Israel is likely to impact India’s ambitions of playing a bigger role in global trade. The recently announced India-Middle East-Europe Economic Corridor (IMEEC) may be affected by the conflict, leading to concerns in the markets. Oil prices have surged, gold demand has increased, and Indian stocks have tumbled […]

India and the UK are hopeful for progress in the India-UK free trade agreement as UK Prime Minister Rishi Sunak considers a visit to India. The visit aims to have detailed discussions on the FTA and other bilateral matters. Although the agreement may not be finalized before the visit, it is expected to expedite the […]

“Tanzania is our biggest export destination in Africa. Over the next few years, we are looking to make this another very fast-growing growth story,” Goyal said in the India-Tanzania Investment Forum organised by the Federation of Indian Chambers of Commerce and Industry.