Inter-provincial sugar transport to require permit
Amid an increase in the price of sugar, the Punjab government has formulated a mechanism to stop smuggling of the commodity.
Under the policy, a permit from the district administration concerned will be mandatory for inter-provincial transportation of sugar.
The personnel deployed at checkpoints on the provincial borders will be instructed to prevent the smuggling of sugar.
According to officials, a crackdown has been launched against hoarders and 50,000 sacks of sugar seized in the past three days.
The move comes after the price of sugar in the province increased by Rs15 per kg within a week and Rs35 in the past month.
The commodity is being sold at Rs120 to Rs125 per kg in the provincial capital, while the price in other areas of the province has exceeded Rs130.
Can wheat save North Korea from a food crisis?
Many experts say that North Korea’s food shortage has deepened due to pandemic-related lockdowns, persistent international sanctions, and natural disasters.
According to South Korea’s Rural Development Administration (RDA), North Korean agricultural output last year declined by 3.8 percent compared to 2021. More specifically, the RDA estimated that the country’s crop production was 4.51 million tons in 2022, down 180,000 tons from 2021. The report said the growth of all of crops was impacted by floods, drought, and other negative weather conditions. Among different crops, rice production was most seriously damaged by such natural disasters, declining 4.2 percent (90,000 tons).
OPEC+ crude oil production drops in March
Crude oil production from OPEC+, a coalition of OPEC and other oil producers, fell by 300,000 b/d in March as sanctions hit Russian output, the latest Platts survey by S&P Global Commodity Insights from April 11 found.
OPEC production decreased 60,000 b/d to 28.97 million b/d, while non-OPEC allies saw output fall by 240,000 b/d to 13.40 million b/d in March.
Production in the largest non-OPEC producer in the group, Russia, fell by 260,000 b/d to 9.6 million b/d in March. This followed the introduction of G7 price caps and EU import bans on most Russian crude and oil products from Dec. 5, 2022, and Feb. 5, respectively. The restrictions are part of Western sanctions imposed in response to Russia’s invasion of Ukraine.
Russian officials said previously that the country will cut crude output by 500,000 b/d from February levels from March until the end of 2023. They said that this is in order to reduce the discount on Russian crude and to stabilize deliveries. Sanctions are expected to further hit Russian output in coming months.
Qatar doubles down on LNG amid energy market volatility
The oil and gas sector has been the dominant driver of Qatar’s economy. Over the years, although that sector has remained the major focus of Qatari investments, the emphasis has increasingly shifted towards the expansion of the country’s gas production and liquid natural gas (LNG) export capacity.
Qatar’s North Field and its vast recoverable reserves of offshore gas have served as the engine of the country’s rapid economic transformation. Revenues from gas exports, which last year amounted to $132 billion, have turned Qatar into one of the world’s richest countries, with a GDP per capita of more than $84,000 at current prices; fueled the growth of the country’s sovereign wealth fund (SWF), which has ballooned to an estimated $450 billion; supported the growth of the private sector; and enhanced Doha’s ability to pursue its foreign policy goals.
While the construction boom ahead of the 2022 FIFA World Cup powered the Qatari economy in recent years, income generated by the expansion of the country’s LNG production and export capacity is likely to drive the economy for many years to come — both despite and partly because of the market turmoil caused by the fallout from Russia’s invasion of Ukraine in February 2022.
Ukraine’s coal miners dig deep to power a nation at war
Deep underground in southeastern Ukraine, miners work around the clock extracting coal to power the country’s war effort and provide civilians with light and heat.
Coal is central to meeting Ukraine’s energy needs following the Russian military’s campaign to destroy power stations and other infrastructure, the chief engineer of a mining company in Dnipropetrovsk province said.
Elevators carry the company’s workers underground to the depths of the mine. From there, they operate heavy machinery that digs out the coal and moves it above ground. It is hard work, the miners say, but essential to keep the country going.
“Today, the country’s energy independence is more than a priority,” said Oleksandr, the chief engineer, who, like all the coal miners interviewed, spoke on the condition of giving only his first name for security reasons.
Dairy report: milk production forecast on the rise
The USDA released its new outlook for dairy this year, raising its milk production forecast. It says milk production in 2023 is predicted to be just over 228.5 billion lbs. That’s 200 million lb. higher than last month’s forecast.
Milk cows are projected to average more than 9.390 million head, that’s 10,000 head higher than last month. However, cow numbers are expected to decline through the year as lower numbers of replacement heifers and higher expected cull cow prices will likely contribute to the decline of the U.S. dairy herd.
States told to take action on undisclosed stocks of pulses
Consumer Affairs Secretary Rohit Kumar Singh on Wednesday reviewed the status of stock disclosure of Tur and Urad with major pulses producing and consuming states.
The review revealed some discrepancies. While the number of entities registered in the stock disclosure portal has increased, it was observed the actual number of stakeholders in certain States could be higher.
The quantity of Tur stocks disclosed as compared to production and consumption was also found to be low in certain States.