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Mixed emotions as EU revokes import tariffs on long grain Myanmar, Cambodian rice

With the EU rolling back import tariffs on long grain white rice from Myanmar and Cambodia, market participants expect a rise in shipments from Myanmar, although Cambodian exporters were heard skeptical due to continued high freight rates. The tariffs were enforced from Jan. 18, 2019 as a temporary measure to help protect EU farmers from competitively priced long grain rice, with exporters in Cambodia and Myanmar having benefitted from tariff-free status under the EU’s Everything But Arms initiative. However, medium grain, short grain and broken rice — in addition to ...

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Coal India’s supplies record 31% growth at 77.4 MTs under e-auction log

On Wednesday, Coal India Ltd. announced that its actual coal despatch under the five e-auction windows at 77.4 million tonnes (MTs) jumped ahead by 37% during April-December’21 compared to 59 MTs corresponding Period Year ago. The premium over in e-auction notified prices surged four folds to 58% during the Apr-Dec’21 as compared to 15% of the corresponding quarter. Coal supplied under other e-auction outlets, where predominantly non-regulated sector customers access coal, accounted for 49.5 MTs. Under this category CIL logged a growth of 21% compared to 41 MTs of same ...

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Vietnam: Coal sector sees positive prospect in 2022

With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomin) will capitalise on advantages and turn challenges into opportunities, said its Chairman of Member Council Le Minh Chuan. During a conference reviewing Vinacomin’s 2021 performance and launching 2022 tasks in Hanoi on January 19, Chuan said the group will closely follow the Government’s Resolution No.01/NQ-CP on key tasks and measures for 2022 socio-economic development and State budget estimate. Vinacomin will push ahead with set plans to carry ...

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Chinese coal jumps over 6% on pre-holiday supply worry

China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over tight supply ahead of a national holiday when coal mines typically slow operations or shut down. The most-active thermal coal futures contract on the Zhengzhou Commodity Exchange CZCcv1 traded up 6.6% at 774.8 yuan ($122.06) a tonne. The rally is in line with the upward trend on the spot market, with benchmark prices for 5,500 kilocal coal at northern ports having gained 18% so this year to ...

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Metals continue their 2021 rally

In the three weeks of trading so far this year, the metals complex has maintained most of the buoyancy it experienced at the end of 2021. While some metals have extended their rallies, copper has lagged. We think there are three key themes behind the metals market at the moment. Macro tailwinds prevail ahead of a key Fed meeting next week While macro markets have been debating the scale and timing of the Federal Reserve’s tapering, interest rate hikes, and rundown of its balance sheet in the months ahead, there ...

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The environmental case for buying a coal mine

One day, the Swedish energy company Vattenfall decided to divest itself from a particularly dirty form of coal extraction in Germany, so it advertised that its mines were for sale. It would get an offer from a totally unexpected party. At Vattenfall’s lignite mines in Germany, enormous excavators had for years been clawing at mounds of brown coal, tearing off chunks with giant scooped teeth. Lignite is not especially profitable, and the scars it leaves behind on the landscape are brutal and dystopian. Vattenfall’s involvement in such a destructive form ...

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BHP trims 2021-22 met coal guidance on La Nina, omicron

Australia’s BHP on Jan. 19 trimmed its fiscal 2021-2022 (July-June) metallurgical coal production guidance as La Nina and omicron take their toll on the company’s operations, while staying on course for its iron ore production. “Our continuing focus on people and on operational reliability enabled us to achieve near record production in iron ore and to reduce the impacts of adverse weather and COVID-19 related labour constraints in our operations,” BHP’s CEO Mike Henry said in the half-year operational review. Met coal production guidance for the company’s Queensland Coal operations ...

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Palm hits three-month peak on crude rally, Indonesian policy

Malaysian palm oil futures rose to a three-month high on Wednesday, fuelled by a rally in crude futures and top producer Indonesia implementing new rules to control exports of the edible oil. The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange was up 135 ringgit, or 2.68%, at 5,169 ringgit ($1,233.36) a tonne by the midday break. Earlier in the day, it rose as much 3.2% to its highest since Oct. 21. Indonesia, world’s biggest palm oil producer, said on Tuesday it will require ...

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Argentina Ends Wheat Harvest At A Record 21.8 Mln Tonnes -Exchange

Argentina’s 2021/22 wheat season produced a record 21.8 million tonnes of the grain, blowing past the country’s previous all time high harvest of 19 million tonnes in the 2018/19 crop year, the Buenos Aires Grains Exchange said in a report on Tuesday. The harvest, which ended this month, came in 2.8 million tonnes higher than the exchange’s initial estimate thanks to rains that, while scarce, were distributed evenly and in time to bolster yields, it said. The national average yield was 3.44 tonnes per hectare, or 21.9% higher than the ...

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Europe’s metal industry asks EU to help it deliver energy transition

Industry association Eurometaux has asked EU policy-makers to allow member states to support domestic producers of aluminium, zinc and silicon with state aid to ensure supplies of the metals crucial for the transition to low carbon energy. The European Union has a goal to reduce net greenhouse gas emissions by 55% from 1990 levels by 2030, as a step towards “net zero” by 2050, with plans including electric vehicles that need aluminium and renewable energy that needs zinc and silicon. More than half of the EU’s aluminium and zinc smelters ...

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Ozone harms East Asian crops, costing $63 bln a year, scientists say

Fossil fuel emissions aren’t just driving climate change and worsening air quality, they’re also hurting crop yields enough to cause some $63 billion in annual losses in East Asia, scientists say. With high levels of ozone pollution, China, South Korea and Japan are seeing diminished yields in wheat, rice, and maize, according to a study published Monday in the journal Nature Food. China alone is losing a third of its potential wheat production and nearly a quarter of rice yields as ozone disrupts plant growth. That has worrying implications beyond ...

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GRAINS-Soybeans rebound on strong demand, wheat up for second session

Chicago soybean futures rose for the first time in four sessions on Wednesday, with prices supported by strong demand, although improved weather in South America limited gains. Wheat rose for a second straight session as cold weather threatened crop in dry parts of the United States. FUNDAMENTALS * The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 added 0.6% to $13.69 a bushel, as of 0118 GMT, after falling for three sessions. * Wheat Wv1 gained 0.7% to $7.74-1/4 a bushel and corn Cv1 rose 0.5% to ...

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Data monitor: Coal production up 8.8% y-o-y in Q3FY22

Total coal production for the third quarter of FY22 stood at 206.5 MT, exhibiting an increase of 8.8% over the same period in FY21. This was also a significant increase of 13.8% as compared to 181.3 MT produced in Q3 of FY20. Coal output showed cumulative growth of 10.6% y-o-y over the April-Dec’21 period and growth of 8.7% compared to YTDFY20. Subscribe to Financial Express’ weekly SME newsletter for latest and all-round coverage from the world of the biggest business in India – the Micro, Small and Medium Business. Source: ...

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Widespread rains bring relief to Argentina’s grain crops

Heavy rainfall has brought relief to Argentina’s main agricultural areas over the weekend, interrupting several weeks of dry weather that led the Rosario grains exchange to trim its forecasts for both soybean and corn production. German Heinzenknecht, meteorologist at the Applied Climatology Consultancy (CCA), said the weekend showers came as expected, reaching 15-60 millimeters in Argentina’s main farm belt on Saturday and Sunday. “That is what we have been expecting,” Javier Dominguez, a farmer in the Buenos Aires province, told Reuters, saying the rainfall will help damaged soybean fields to ...

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Japan steel industry says EU extension of anti-dumping measures inappropriate

The head of Japan’s main steel industry lobby said on Tuesday the European Union’s decision to extend anti-dumping measures on electrical steel from Japan was inappropriate and it would consider taking action. On Monday, the EU extended setting minimum prices for electrical steel from Japan, China, Russia, South Korea and the United States for five years on the basis that producers would otherwise dump it on the EU market. “The Japanese steel industry will carefully study this decision and determine a proper course of action,” Eiji Hashimoto, chairman of the ...

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