Demand for Chinese exports has softened as economic activity in Western markets slowed and the Federal Reserve and central banks in Europe and Asia raise interest rates to cool surging inflation.
The government has allowed maximum imports from Afghanistan in the rupee on a land route in the post-Taliban regime period. The figures did not reflect those imports made in rupees.
"After reviewing, the position of state Gencos now varies significantly. Many states have stocks more than 50 per cent of normative levels whereas many others still have stocks near critical levels."
The trade deficit in the same month last year (2021) stood at $10.63 billion. In the April-July 2022 period, the trade deficit crossed $100 billion, almost 2.5 times the trade deficit in the same peri
Following the statement of the minister in parliament on July 25, 2022, the experts said the power ministry should revoke and withdraw the order for import of 10% their coal requirement.
The government had directed power generators to import 10% of their coal requirement for blending.
According to a government official, most countries import Indian petroleum products, chemicals & drugs and pharma items, for which demand will never fade.
India, which used to import around 2% of its oil needs from Russia, has enhanced its imports ever since the war broke out between Russia and Ukraine.
The Chinese manufacturing hub of Xinjiang is produced with forced labour & therefore, can't be imported into the US unless companies are able to provide "clear & compelling evidence" to the contrary.
India’s current account deficit hit a record high of $23.5 billion in May on account of higher commodity prices.
The trade deficit majorly burgeoned on account of high coal imports, which witnessed a growth of 242%, followed by gold and petroleum at 169% and 94.2%, respectively.
Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent.
However, trade sources and economists expect demand to rationalise amid high inflation. By quantity also, imports in May are estimated at 100-plus tonnes as against 28.5 tonnes in April.
Pakistan's Federal Minister for Planning made the appeal after the federal budget document for the last fiscal year showed a Rs 13 billion increase in tea imports from the year before that.
The import of RBD palmolein rose sharply to 1 lakh tonnes from 2,075 tonnes, while that of crude palm kernel oil (CPKO) declined to 4,265 tonnes from 11,894 tonnes in the said period.
At the current price range, the industry expert said, the cost of coking coal alone in steel making is around Rs 28,000 to Rs 30,000 per tonne, which works to about 40-45 per cent of production cost.
The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the country's power utilities and build up buffer stock
Imports of Russian crude by India are likely to grow by 20% month-on-month to 1.05 million barrels per day (bpd) in June, as per the data compiled by commodity analysts Kpler.
Coal imports that had touched 248 million tonnes in FY'20 dropped continuously during the next two financial years to 215 MT in 2020-21 and 209 MT in 2021-22.
Sri Lanka is aiming to boost its agriculture sector to avoid any disruption in the agriculture market following the drop in the paddy cultivation in the Maha session.