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Indian capital gets a breather as rain brings respite from smog
  + stars: | 2023-11-10 | by ( ) www.reuters.com   time to read: +2 min
India's weather department has forecast intermittent rain over the city and adjoining areas till early noon on Friday. Meanwhile, air in the financial capital of Mumbai has markedly improved due to showers in nearby coastal areas. This year, attention on the worsening air quality has cast a shadow over the cricket World Cup hosted by India. Scientists and authorities were planning to seed clouds in New Delhi around Nov. 20 to trigger heavy rain, the first such attempt to clean the air. Friday's rain comes two days before the Diwali festival, when many people defy a ban on firecrackers, causing a spike in air pollution.
Persons: Anushree, Tanvi Mehta, Rajendra Jadhav, Raju Gopalakrishnan Organizations: REUTERS, India, Thomson Locations: New Delhi, India, DELHI, Swiss, Punjab, Haryana, Rajasthan, Kolkata, India's, Mumbai
NEW DELHI (Reuters) - Overnight rain in New Delhi and its suburbs brought some relief to the Indian capital on Friday morning, where authorities were mulling seeding clouds to improve the toxic air gripping the city. India's weather department has forecast intermittent rain over the city and adjoining areas till early noon on Friday. Meanwhile, air in the financial capital of Mumbai has markedly improved due to showers in nearby coastal areas. This year, attention on the worsening air quality has cast a shadow over the cricket World Cup hosted by India. Friday's rain comes two days before the Diwali festival, when many people defy a ban on firecrackers, causing a spike in air pollution.
Persons: Tanvi Mehta, Rajendra Jadhav, Raju Gopalakrishnan Organizations: India Locations: DELHI, New Delhi, Swiss, Punjab, Haryana, Rajasthan, Kolkata, India's, Mumbai
REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Nov 4 (Reuters) - India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year. The grains programme, estimated to cost the government around 2 trillion rupees ($24.06 billion) this year, was due to expire at the end of the year. India, the world's second-largest producer of wheat and rice, has restricted exports of both cereals to curb rising prices at home. Global rice prices jumped to a 15-year high after India, the world's biggest rice exporter that accounts for more than 40% of global rice exports, curbed exports of non-basmati rice varieties in July. India last year banned wheat exports in a surprise move after a heat wave curtailed output.
Persons: Amit Dave, Narendra Modi, Modi, Rajendra Jadhav, Clelia Organizations: Agriculture, REUTERS, Rights, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Durg, Chhattisgarh, Mumbai, Delhi
India is the world's second-largest gold consumer, and a drop in purchases could limit a rally in global prices . Local gold prices jumped this week to 61,396 rupees per 10 grams, near the all-time high of 61,845 rupees hit earlier this year. In the December quarter, demand is expected to be lower than last year's 276.3 metric tons, Somasundaram said. From January to September, gold demand fell by 3.3% to 481.2 metric tons due to sluggish demand in the first half. In 2023, demand could fall to around 700 metric tons, the lowest in three years, down from 774.1 metric tons a year ago, he said.
Persons: Anushree, Somasundaram, Rajendra Jadhav, Miral Organizations: REUTERS, Rights, Gold Council, PR, Thomson Locations: Delhi, India, Rights MUMBAI
Workers of a retail chain sort onions at Manchar village in Pune, India, November 11, 2019. REUTERS/Rajendra Jadhav/File Photo Acquire Licensing RightsOct 28 (Reuters) - India has set a floor price of $800 per metric ton minimum export price on onions up to Dec. 31, the government said on Saturday, in a bid to ensure adequate domestic availability and to stabilise prices. The government also announced procurement of 200,000 tons of onions for its buffer, over and above the 500,000 tons already procured, it said in the statement. The south Asian nation had in August imposed a 40% export duty on onions up to Dec. 31 to improve domestic availability of the vegetable. Reporting by Baranjot Kaur in Bengaluru and Neha Arora; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Rajendra, Baranjot Kaur, Neha Arora, David Evans Organizations: REUTERS, Thomson Locations: Manchar, Pune, India, Bengaluru
REUTERS/Amit Dave/File Photo Acquire Licensing RightsMUMBAI, Oct 17 (Reuters) - Indian wheat prices surged to an eight-month high on Tuesday, propelled by strong demand for big festivals, limited supplies and as import duty makes overseas buying unfeasible for domestic flour mills. Rising wheat prices could contribute to food inflation. Wheat prices in New Delhi jumped by 1.6% on Tuesday to 27,390 rupees ($329) per metric ton, the highest since Feb. 10. "Festival season demand is driving up wheat prices. As of Oct. 1, wheat stocks in government warehouses stood at 24 million metric tons, sharply down compared with a five-year average of 37.6 million tons.
Persons: Amit Dave, Pramod Kumar S, Sanjeev Chopra, Ashwini Bansod, Bansod, Rajendra Jadhav, Robert Birsel Organizations: Agriculture, REUTERS, Rights, Federation, Phillip Capital India, Ltd ., El, Thomson Locations: Ahmedabad, India, Rights MUMBAI, New Delhi, Ltd . India, Mumbai
India reviewing floor price for basmati rice exports
  + stars: | 2023-10-15 | by ( ) www.reuters.com   time to read: +1 min
NEW DELHI, Oct 15 (Reuters) - The Indian government said on Sunday it is actively reviewing the floor price it has set for basmati rice exports even as it continues to curb overseas shipments. The decision comes after New Delhi, the world’s biggest rice exporter, said on Saturday said it will maintain a $1,200 per ton minimum export price (MEP) on basmati rice shipments, which was first imposed in August to calm local prices. Following the meeting, a review of the floor price "is under active consideration of the government," the statement said. The MEP aims to help authorities ensure that non-basmati rice is not exported as basmati rice. India in July banned exports of non-basmati white rice and later imposed a 20% duty on exports of parboiled rice.
Persons: Saturday's, Mayank Bhardwaj, Rajendra, Giles Elgood Organizations: Thomson Locations: DELHI, New Delhi, India
Lhonak Lake in Sikkim state overflowed on Wednesday, causing major flooding that authorities said had impacted the lives of 22,000 people. The latest flooding was exacerbated by water released from state-run NHPC's Teesta V dam, local officials said. As of Thursday evening, 98 people were missing, 17 of whom were army personnel, state chief secretary V.B. "Due to bad weather conditions we cannot have air service towards the northern part of the state," Rai told Reuters. [1/4]An area affected by the flood is seen in this undated handout image released on October 4, 2023, in Sikkim, India.
Persons: V.B, Pathak, Prabhakar Rai, Rai, G.T, Dhungel, Subrata Nag Choudhury, Jatindra, Tanvi Mehta, Krishn Kaushik, Sarita Chaganti Singh, Ruma Paul, Rajendra Jadhav, YP Rajesh, Robert Birsel, Michael Perry, Kim Coghill, Mark Heinrich Our Organizations: NEW, Authorities, Reuters Graphics Reuters Graphics, Disaster Management Authority, Reuters, India Army, REUTERS Acquire, Army, National Disaster Management Agency, Nature Communications, YP, Thomson Locations: NEW DELHI, KOLKATA, India, Sikkim, Asia's, Bangladesh, Chungthang, Mangan, Gangtok, Nepal, Bhutan, China, Siliguri, West Bengal, Pakistan, Peru, Kolkata, Bhubaneswar, New Delhi
Nearly half of the farmland in the world's most populous nation lacks irrigation, making the monsoon rains even more vital for agricultural production. The summer rainfall deficit could make staples such as sugar, pulses, rice and vegetables more expensive and lift overall food inflation. The IMD had anticipated a rainfall deficit of 4% for the season, assuming limited impact from El Nino. El Nino is a warming of Pacific waters that is typically accompanied by drier conditions over the Indian subcontinent. The monsoon was uneven, with June rains 9% below average because of the delay in the arrival of rains, but July rains rebounding to 13% above average.
Persons: Adnan Abidi, El Nino, Rajendra, Helen Popper Our Organizations: REUTERS, El, India Meteorological Department, IMD, El Nino, Thomson Locations: New Delhi, India, MUMBAI
Trudeau said that Canada was "actively pursuing credible allegations" linking Indian government agents to the murder of a Sikh separatist leader in British Columbia in June. "Obviously we're concerned about making sure (the sales) get executed," Price said, adding that he's not aware of any cancellations. Due to India's poor crop, lentil prices are high, but since Trudeau's comments Indian offers for Canadian supplies have dropped 6% to around $770 per metric ton, Price said. India consumes around 2.4 million metric tons of lentils annually, but local production falls short at 1.6 million tons, said Bimal Kothari, chairman of India Pulses and Grains Association. "Inflation within the pulses group is currently very high, making Canadian lentils a critical need for India.
Persons: Amit Dave, Justin Trudeau, Trudeau, Nitin Gupta, Kevin Price, Parrish, Price, Bimal Kothari, Rod Nickel, Rajendra Jadhav, Timothy Gardner Organizations: REUTERS, Rights, Canadian, Industry, Olam Agri, Indian, Canadian Global Affairs, Heimbecker, Association, Thomson Locations: Delhi, India, Rights WINNIPEG , Manitoba, MUMBAI, New Delhi, Canada, British Columbia, Olam Agri India, Winnipeg, Canadian, Australia, Mumbai, Winnipeg , Manitoba
India's monsoon starts delayed retreat
  + stars: | 2023-09-25 | by ( ) www.reuters.com   time to read: +1 min
The monsoon, the lifeblood of India's $3 trillion economy, delivers nearly 70% of the rain needed to water its farms and recharge reservoirs and aquifers. The monsoon generally begins in June and starts to retreat by Sept. 17 but rains continued this year, helping to reduce a precipitation deficit after the driest August in more than a century hit some summer crops. Monsoon rains were 9% below average in June before rebounding to 13% above average in July. The weather office then registered 36% below average rains last month. Monsoon rains so far in September are 17% above average, according to IMD.
Persons: Adnan Abidi, Rajendra Jadhav, Kirsten Donovan Organizations: REUTERS, Rights, India Meteorological Department, IMD, Thomson Locations: New Delhi, India, Rights MUMBAI, Rajasthan
The plan could transform the global diamond supply chain, but implementation will depend heavily on India, whose diamond industry employs millions of people who cut and polish 90% of the world's diamonds. If it goes ahead as anticipated, it would split the global consumer diamond market. The EU bought 1.4 billion euros ($1.5 billion) worth of Russian diamonds last year, based on data from Eurostat, as the EU has not banned Russian gem imports nor blacklisted Alrosa. As of 2021, global rough diamond sales totalled $16.4 billion, while demand for polished diamonds was $28 billion, the De Beers report showed. "I think the G7 officials involved with this are taking it quite seriously and I believe they will strictly enforce it.
Persons: Belgium's, Alrosa, De Beers, Paul Zimnisky, Zimnisky, Julia Payne, Polina Devitt, Clara Denina, Shivangi Acharya, Rajendra Jadhav, Toby Chopra, David Holmes, Veronica Brown, Jane Merriman Organizations: EU, Eurostat, De Beers, De, Industry, Belgian, Jewellery Export, Thomson Locations: India, Antwerp, BRUSSELS, LONDON, Ukraine, Belgium, Brussels, Russia, United States, INDIA, AFRICA, Africa
The move in August by Russian companies to instead offer fertilisers at market prices could increase India's import costs and subsidy burden amid a rally in global prices, as a top exporter, China, tries to curtail overseas sales. "Russian companies are offering fertilisers at the market prices," the official said, declining to be named due to the sensitivity of the matter. Reuters Graphics"Russian companies were offering DAP at discounts of as high as $80 (per ton). DAP prices were around $440 per ton in July, he added. "The global fertiliser prices are rising just before crucial state elections in India.
Persons: Amit Dave, Rajendra Jadhav, Polina Devitt, Tony Munroe, David Evans Organizations: REUTERS, Rights, Reuters, United, Reuters Graphics, Thomson Locations: Ahmedabad, India, Rights MUMBAI, LONDON, China, New Delhi, Russia, Egypt, Jordan, United Arab Emirates, Russian, Mumbai
In top consumer China, premiums climbed to as high as $55 an ounce over global spot prices this week, traders said, from $20-$38 last week. The policy-measures to support the economy are expected boost physical gold demand, said Peter Fung, head of dealing at Wing Fung Precious Metals. Official data on Thursday also showed that the People's Bank of China increased its gold holdings to 69.62 million fine troy ounces at end-August. Local gold prices were trading around 59,200 rupees per 10 grams on Friday, up nearly 2% in three weeks. In Japan, where domestic gold rates were trading at record levels this week, dealers charged $0.5 premiums.
Persons: Peter Fung, Bernard Sin, Harshad Ajmera, JJ, Anushree Mukherjee, Swati Verma, Rajendra Jadhav, Maju Samuel Organizations: Chinatown, Metals, People's Bank of China, U.S ., MKS, JJ Gold, Traders, Rajendra, Thomson Locations: China, Japan, India, Greater China, Kolkata, Local, Hong Kong, Singapore, Tokyo, Bengaluru, Mumbai
Workers prepare oil palm seedlings at a nursery in Khammam district, in southern state of Telangana, India, July 12, 2022. India's average monthly edible oil imports in the 2021/22 marketing year were 1.17 million tons, trade body Solvent Extractors' Association of India (SEA) said. Palm oil imports increased from 1.09 million tons in July to 1.12 million tons in August, the highest in nine months, according to average estimates from the dealers. Sunflower oil imports jumped by 11.5% from a month earlier to 365,000 tons, the highest in seven months, while soyoil imports edged up 3.7% to 355,000 tons, dealers estimated. India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Persons: Rajendra, Rajesh Patel, Sandeep Bajoria, refiners, Rajendra Jadhav, Jamie Freed Organizations: REUTERS, Rights, Reuters, Association of India, SEA, GGN Research, Sunvin, Thomson Locations: Khammam district, Telangana, India, Rights MUMBAI, Indonesia, Malaysia, Thailand, Argentina, Brazil, Russia, Ukraine, Kandla, New Delhi
Children play with a ball after rice is spread for drying at a rice mill on the outskirts of Kolkata, India, January 31, 2019. REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsMUMBAI, Aug 30 (Reuters) - India on Wednesday decided to allocate export quotas of non-basmati white rice to Bhutan, Mauritius and Singapore, the government said in a statement. Exports of 79,000 metric tons of non-basmati white rice would be allowed to Bhutan, while export quotas of 50,000 tons and 14,000 tons, respectively, would be allocated for Singapore and Mauritius, it said. Last month, India surprised buyers by imposing a ban on exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year. Reporting by Rajendra Jadhav; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Rajendra Jadhav, Alex Richardson Organizations: REUTERS, Rights, Thomson Locations: Kolkata, India, Bhutan, Mauritius, Singapore
India, which is scrambling to rein-in inflation ahead of state elections later this year, on Friday expanded curbs on rice exports with a 20% duty on parboiled rice that would be effective until Oct. 15. Shipments of around 500,000 tons have been put on hold, said B.V. Krishna Rao, president of the Rice Exporters Association (REA). India exported a record 22.2 million tons of rice in 2022, including 7.4 million tons of parboiled rice. Lower-income consumers in Asia and Africa previously preferred 100% broken rice, exporters said, which was available at $325 per ton, but India banned exports of broken rice last year. India, which accounts for 40% of world rice exports, in July ordered a halt to its largest rice export category, non-basmati white rice, which fuelled a rally in global rice prices.
Persons: Rajendra, Himanshu Agarwal, B.V, Krishna Rao, REA, Rao, Tony Munroe, Sharon Singleton Organizations: REUTERS, Rights, Reuters, Satyam Balajee, Rice, Association, Reuters Graphics, Thomson Locations: Kakinada Anchorage, Andhra Pradesh, India, Benin, Ghana, Côte d'Ivoire, Liberia, Thailand, Vietnam, Pakistan, New Delhi, Asia, Africa
"El Niño dampened rainfall in August, and it will also have a negative impact on September rainfall," said a senior official at the India Meteorological Department (IMD). The weather department did not immediately respond to requests for comment. India is heading for its driest August in more than a century, weather department officials said earlier this month. The current monsoon has been uneven, with June rains 9% below average but July rains rebounding to 13% above average. The last four Septembers have seen above-average rains due to delayed withdrawal of the monsoon, he said.
Persons: Sivaram, El, El Niño, Rajendra Jadhav, Tony Munroe, Raju Gopalakrishnan, Alex Richardson Organizations: REUTERS, Rights, El, Reuters, India Meteorological Department, IMD, Reuters Graphics, Thomson Locations: Vembanad, Kochi, India, El, New Delhi, Mumbai
Last month, India surprised buyers by imposing a ban on exports of widely consumed non-basmati white rice, following a ban on broken rice exports last year. "With this duty, Indian parboiled rice would become as expensive as supplies from Thailand and Pakistan. India exported 7.4 million tons of parboiled rice in 2022. "Global rice prices had begun to moderate in the last few days after rallying more than 25% due to India's restrictions last month. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022.
Persons: Rajendra, Narendra Modi, Rajendra Jadhav, Chris Reese, Tomasz Janowski, Hugh Lawson Organizations: REUTERS, Rights, United, Reuters Graphics India, Thomson Locations: Kakinada Anchorage, Andhra Pradesh, India, Mumbai, Thailand, Pakistan, United Nations, Ukraine, Africa, Asia, New Delhi
[1/2] Sugar mill workers load harvested sugar cane in a tractor trolly in Sangli district, in the western state of Maharashtra, India, December 3, 2022. India allowed mills to export only 6.1 million tonnes of sugar during the current season to Sept. 30, after letting them sell a record 11.1 million tonnes last season. In 2016, India imposed a 20% tax on sugar exports to curb overseas sales. Patchy rains would cut sugar output in the 2023/24 season and even reduce planting for the 2024/25 season, an industry official, who declined to be named, said. The recent increase in sugar prices eliminates any possibility of exports," said another government source.
Persons: Rajendra Jadhav, Mayank Bhardwaj, Barbara Lewis Organizations: REUTERS, Rights, Thomson Locations: Sangli district, Maharashtra, India, Rights MUMBAI, DELHI, New York, London, Karnataka, New Delhi, Mumbai, Thailand, Brazil
Farmers wait for the auction of onions at Lasalgaon market in Nashik district in the western state of Maharashtra, India, December 19, 2018. "The export duty will make Indian onions more expensive than those from Pakistan, China, and Egypt. Onions are used as the base for traditional dishes across Asia such as biryani in Pakistan and India, belacan in Malaysia and fish curry in Bangladesh. "The Indian duty would prompt China and Pakistan to raise prices, as they have a limited surplus for exports," said the second exporter. India surprised buyers last month by imposing a ban on widely consumed non-basmati white rice sales to dampen price rises.
Persons: Rajendra, Ajit Shah, Rajendra Jadhav, Swati Bhat, Nikunj, Toby Chopra, Clelia Organizations: Insight, Reuters, Thomson Locations: Nashik district, Maharashtra, India, Delhi, Pakistan, China, Egypt, Mumbai, El, Bangladesh, Nepal, Malaysia, United Arab Emirates, Sri Lanka, Asia, belacan
August rainfall, expected to be the lowest since records began in 1901, could dent yields of summer-sown crops, from rice to soybeans, boosting prices and overall food inflation, which jumped in July to the highest since January 2020. India received just 90.7 mm (3.6 inches) in the first 17 days of August, nearly 40% lower than the normal. "Normally, we experience a dry spell of five to seven days in August," said the official, who also spoke on condition of anonymity. "However, this year the dry spell has been unusually prolonged in southern India. This monsoon has been uneven, with June rains 10% below average but July rains rebounding to 13% above average.
Persons: Amit Dave, El, Harish Galipelli, Rajendra Jadhav, Tony Munroe, Clarence Fernandez Organizations: REUTERS, Rights, Reuters, India Meteorological Department, IMD, El Nino, Commodities India, Ltd, Thomson Locations: Ahmedabad, India, El, Pacific, Kerala
The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July. "The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," one of the sources told Reuters, when asked about wheat imports from Russia. Wholesale wheat prices in India surged around 10% over two months to a seven-month high in August on limited supplies. Wheat stocks at government warehouses were at 28.3 million tons on Aug. 1, 20% below the 10-year average.
Persons: Alexander Ermochenko, Sanjeev Chopra, Aftab Ahmed, Rajendra Jadhav, Mayank Bhardwaj, Sonali Paul Organizations: REUTERS, Reuters, Thomson Locations: Russia, Ukraine, Nikolske, Donetsk Region, Russian, DELHI, MUMBAI, India, New Delhi, Mumbai
The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July. "The government is exploring the possibility of imports through private trade and government-to-government deals. The decision will be made cautiously," one of the sources told Reuters, when asked about wheat imports from Russia. Wholesale wheat prices in India surged around 10% over two months to a seven-month high in August on limited supplies. Wheat stocks at government warehouses were at 28.3 million tons on Aug. 1, 20% below the 10-year average.
Persons: Alexander Ermochenko, Sanjeev Chopra, Aftab Ahmed, Rajendra Jadhav, Mayank Bhardwaj, Sonali Paul Organizations: REUTERS, Reuters, Thomson Locations: Russia, Ukraine, Nikolske, Donetsk Region, Russian, DELHI, MUMBAI, India, New Delhi, Mumbai
A Mahindra and Mahindra sign at one of the carmaker's showrooms in Mumbai, India, August 30, 2016. REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsMUMBAI, Aug 15 (Reuters) - India's largest tractor maker, Mahindra and Mahindra (MAHM.NS), launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India's Mahindra Research Valley and Japan's Mitsubishi Mahindra Agriculture Machinery with an investment of 12 billion rupees ($144 million), Hemant Sikka, president of farm equipment sector at Mahindra said. On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The company is planning to introduce tractors from the new Oja platform in various locations including North America, ASEAN countries, Brazil, Australia, Europe, and the SAARC region.
Persons: Danish Siddiqui, Hemant Sikka, Rajendra, Mark Potter Organizations: Mahindra, REUTERS, Danish, Rights, Reuters, India's Mahindra Research, Mitsubishi Mahindra Agriculture Machinery, Thomson Locations: Mumbai, India, Cape Town , South Africa, North America, ASEAN, Brazil, Australia, Europe, SAARC
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