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Despite the political tension, China started importing Indian rice for the first time in three decades

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Indian Rice


Despite the political tension, China started importing Indian rice for the first time in three decades

Indian industry officials told Reuters that China has started importing Indian rice for the first time in at least three decades. India is the world’s largest exporter of rice and China is the largest importer. Beijing imports around 4 million tonnes of rice annually but avoids purchases from India citing quality issues.

Indian Rice

This success has come at a time when the political dispute between the two countries is high due to the border dispute in the Himalayas.

“For the first time China has bought rice. BV Krishna Rao, president of Rice Exporters Association, said they could increase purchases next year, given the quality of the Indian crop. Industry officials said that Indian traders have contracted to export 100,000 tonnes of broken rice for December. According to Indian rice trade officials, China’s traditional suppliers, such as Thailand, Vietnam, Myanmar and Pakistan have limited surplus supplies for export and are quoting at least $ 30 per ton more than Indian prices.

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FTSE 100 set for mini-rally as discount hunters shift back in after Tuesday’s massacre

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FTSE 100 set for mini-rally as bargain hunters move back in after Tuesday’s bloodbath
T

he FTSE 100 was established to establish on yesterday’s modest restoration from Tuesday’s market meltdown with much more gains currently.

Acquiring fallen all over 2% on Tuesday and plunging significantly underneath the 7000 stage it had clawed its way up to lately, the index was today expected to open up a further more 27 factors at 6927.6 by traders on the IG platform.

Final evening it shut up all around .5% and was very likely to see additional deal hunters nibbling absent at shares regarded to have been oversold in Tuesday’s bloodbath.

That said, the bouncebacks in the past session did not clearly show much appetite for the largest fallers from the Covid-induced stress this 7 days. British Airways operator IAG, which was the worst hit, finished flat soon after an early rally. Traders will be watching closely how the bellwether for the international travel industry fares these days.

These “recovery stocks” established to get from a reopening of economies right after Covid rallied effectively on Wall Road right away, which could abide by by into the Uk nowadays.

Aggreko, the short term electrical power group which offers turbines for activities from Glastonbury to the prepared Japanese Olympics, may well be saved from turning into the most current United kingdom plc to be taken about by private bidders.

The board has recommended a £2.3 billion bid at 880p a share but its greatest shareholder Liontrust Asset Administration last evening indicated to Sky News that it would be voting towards it by today’s deadline. The offer requirements the support of 75% of voting shareholders, so all eyes today will be on the 2nd greatest trader, Sprucegrove, for what its intentions are.

Shares will open at 870p and could very well fall if the potential customers of a bid fade.

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