BUSINESS
Bitter Chocolate: Roaring cocoa prices may make dessert more expensive
Indian cocoa bean prices have touched a record Rs 650 per kg, triggered by surging rates in the global market. Local prices are up 200 percent from a year ago, when the rates ranged between Rs 200 and 220 per kg.
BUSINESS
Indian natural rubber prices may hit Rs 200/kg, the highest this decade
Increasing rubber prices will impact the prices of products like tyres, and manufacturers may be compelled to pass on the costs to consumers.
BUSINESS
India likely to miss ethanol blending target this year as govt restricts diversion from sugarcane molasses
The Centre fears a production drop in Maharashtra and Karnataka and is looking to keep stocks high in an election year; the sugar industry sees production at a comfortable level
INDIA
Seafood exports down in FY24, but global recovery expected to boost production and exports in coming months
Marine product exports touched $ 6.34 billion in the April 2023-January 2024 period as per Commerce Ministry figures. This is 7.5 percent short of the exports in the same period a year ago.
BUSINESS
Global supply shortfall, higher freight rates may raise edible oil prices
Though they are now lower than last year, the situation could change in a few months. Around 60% of the country’s edible oil requirement is met through imports. Among palm oil, soybean oil, sunflower oil and mustard oil, the first three largely depend on imports.
BUSINESS
Diverting maize for ethanol production will increase poultry feed prices, crimp margins
The poultry industry anticipates that 10-20 percent of maize could be used for ethanol production, which would increase the demand-supply gap further, causing a spike in maize prices.
BUSINESS
Gem and jewellery exports could drop to a 5-year low in FY24
However, green shoots of recovery have been sighted in January 2024, presaging rosier days ahead for the industry.
BUSINESS
Coffee export outlook dims as prices surge and shipping woes persist
The exporters reckon the shipments in January and February to be down by 20 to 30 percent as not much consignments are going.
BUSINESS
Seafood exporters hail budget steps to enhance aquaculture productivity
The finance minister said implementation of the Pradhan Mantri Matsya Sampada Yojana will be stepped up to also double exports to Rs 1 lakh crore and generate 5.5 million employment opportunities.
BUSINESS
Rubber prices continue to soar, threaten to hit tyre market
There appears to be no respite in the near term from surging rubber prices in India due to shortage of supplies and delayed imports. Abnormal fall in production in Thailand is adding to the problem. The robust demand for tyres in an election year will put pressure on the sector.
BUSINESS
India's tea exports may see marginal decline despite geopolitical problems
Higher offtake by non-regular buyers may take Indian tea exports close to 220 million kg. In 2022, tea exports stood at 231 million kg
BUSINESS
Cotton prices to remain steady, even as demand continues to be sluggish
Prices may rise only after April as export demand picks up. Lack of sufficient orders and high prices had hit many mills in the first half of FY24
BUSINESS
Seafood boom: Premium companies dive into thriving Indian market amid global export challenges
The organised premium seafood players are growing 30 percent annually, against 9-10 percent growth in the local seafood market, as Indian customers warm up to products such as shrimps, lobsters, prawns and seer fish.
INDIA
Rubber Bill: Growers demand inclusion of MSP, agricultural status in legislation
The cultivators feel that the third draft of the Bill is skewed towards the manufacturing industry. The Bill, which is likely to be introduced in Parliament before the elections, aims to promote and develop the rubber industry.
BUSINESS
Weekly Numerics | India’s logistics cost lower than govt estimate; Indian company earning more than 1 million profit per employee; and more
Latest data shows that India’s actual logistics cost is much lower than the government’s estimate. Meanwhile, there was a decline in the number of life insurance policies sold to women in 2022-23. And an Indian company has figured in the list of top five companies earning the highest profit per employee globally.
BUSINESS
Weekly Numerics | Suspension spree in the Parliament, Indian students’ spending abroad soars, and the rise in credit demand
With the 2024 Budget session left, the 17th Lok Sabha has already seen the most number of suspensions in India’s legislative history. Meanwhile, expenditure of Indian students going abroad is on the rise and is expected cross USD 70 billion annually by 2025, according to estimates.
BUSINESS
Coffee brewers increase level of chicory blending in bid to curb price rise
Chicory prices, too, have gone up in India on higher demand and a crop shortfall this year.
BUSINESS
Weekly Numerics | Surge in food prices propel retail inflation, desktops gain ground, & air pollution funds languish
Retail inflation in November reached a 3-month high on the back of rising food prices. Meanwhile, FASTag appears to be on the right lane, with toll collection seeing steady growth. Data from Cloudflare shows that the share of Indians using desktops to get online is rising
TECHNOLOGY
Tyre sector riding high on burgeoning car sales
However, the performance of the heavy commercial tyre segment has not lived up to expectations. Exports too are a worry, with many Western countries facing inflationary trends.
BUSINESS
FY24 to mark yet another year of record garlic exports from India
A shortage of the spice globally, coupled with lower supply from China, the largest producer of garlic, has placed India in a sweet spot.
BUSINESS
Weekly Numerics: Crime declines, suicides increase, heat-related deaths surge, and unemployment remains high
Recently released data from the NCRB shows that the crime rate in India declined in 2022. However, along with it the chargesheeting rate, which is used to measure police performance, has also gone down. Meanwhile, analysis of data shows that although the unemployment rate saw a dip in November, it remains elevated compared to the longer-term trend.
BUSINESS
Ban on use of sugarcane juice for ethanol to hit fuel-blending target, sugar mill revenues
The government’s move was perhaps in order to check a drop in sugar output following reports of a possible shortfall in sugarcane production. A 25% drop in sugar output is expected in Maharashtra, while production in Karnataka is also down
ENVIRONMENT
COP28: The long road of climate negotiations from Rio to Dubai
An interactive timeline chronicling the major milestones in the history of climate negotiations
POLITICS
Political parties go all out to woo women voters as their numbers rise steadily
As per election analyst Sanjay Kumar, a slight tilt has been noticed in favour of parties which have provided schemes meant for women.
