India's cotton exports in the ongoing 2021-22 (Oct-Sep) marketing year have slowed due to higher prices in the domestic market, making overseas sales economically unviable, trade officials said. The government aims to distribute 37.5 mln tn of fortified rice through the targeted public distribution scheme and other welfare schemes till Mar 2024, Sadhvi Niranjan Jyoti, minister of state for rural development and consumer affairs, food and public distribution, said in a written reply in the Lok Sabha. Global prices of coffee stayed at a near 10-year high in November, rising 7.5% from the previous month to 195.17 cents per pound because of robust consumption, the International Coffee Organization said in a report. Domestic consumption of sugar in 2021-22 (Oct-Sep) is seen rising to 27 mln tn, Sadhvi Niranjan Jyoti, minister of state for rural development and consumer affairs, food and public distribution, said in a written reply in Lok Sabha. The Energy Information Administration has trimmed its forecast for crude oil prices in 2021 and 2022 due to renewed concerns about the impact of the new strain of COVID19 on global economic growth. Sugar mills across the country have signed deals to export about 3.3 mln tn of the sweetener in 2021-22 (Oct-Sep) so far without any subsidy, the All India Sugar Trade Association said in a release.
Source:moneycontrol.com