Price Hike News

Modi government wants to increase the import duty on LPG, propane and butane. Today the finance minister will move a resolution in parliament, through it, the govt seeks to increase import duty on liquified petroleum gas, propane and butane. But why does the government want to increase the import duty? What impact will it have on LPG cylinder prices? Watch the full video to find out.

Are you curious about what's causing the recent tomato price hike in certain Indian regions? Look no further! In this video, we delve deep into the factors that have contributed to the alarming increase in tomato prices and the potential impact on our daily lives. Tomato Rice, Tomato Soup, and Tomato Chutney Lovers Take Note! If you're a fan of tomato-based dishes like tomato rice, tomato soup, or tomato chutney, you need to stay informed about these developments. The current tomato price surge could impact the affordability and availability of your favorite dishes. We'll also shed light on the broader issue of food inflation and how the tomato price hike fits into the larger picture. Join Us for an Insightful Exploration of the Tomato Price Surge! Stay tuned to Mint for more updates on the tomato price crisis and other essential news related to food, agriculture, and sustainability. Hit the subscribe button and ring the notification bell to never miss our valuable content!

India’s ban on rice export has set off alarm bells, the resulting supply shortage is expected to push global rice prices beyond a decade’s high, and that has made the IMF ‘encourage’ India to remove the export ban. What do you think India will do? Will it prioritise global price stability over the domestic market? Watch the full video to find out.

On July 20th Food and Consumer Affairs Ministry banned the export of non-basmati white rice. India did this to stabilise the volatile retail prices in the country. And this triggered panic among Indians living in the U.S. & U.K. who rushed to the nearest supermarkets in hordes to buy as many rice bags as possible. The weather this year has hit rice production hard. As a consequence, there's a shortage expected in supply. To ensure the shortage in supply doesn't lead to a price rise India decided to impose an export ban. Skyrocketing vegetable prices have already started affecting India's efforts to keep inflation in check.

India is set to launch the Global Biofuel Alliance (GBA) in Goa, aiming to impact the global energy landscape. While G20 countries and others are attending the event, Saudi Arabia, Russia, and China are expected to skip it. The alliance focuses on biofuel adoption, standards, and industry participation. India's move signals its stance on net-zero and OPEC+ issues. Learn how this initiative could shape global energy policies and India's ambitious biofuel roadmap. Stay tuned for more insights into the GBA's impact on the world's energy transition.

Why India’s demand for fuel is rising? India's demand for fuel is rising due to a combination of factors such as increased industrial activity, robust domestic consumption, and profitable refining from record Russian crude imports. Refiners in India have become Russia's key oil client, purchasing discounted crude that Western nations have shunned since the invasion of Ukraine. Indian refiners pay for most of their Russian oil via Dubai-based traders in UAE dirhams instead of US dollars. However, if the price of Russian crude rises above the G7 price cap, traders may have to seek alternative methods of payment, which could aid Russia's efforts to de-dollarize its economy in response to Western sanctions.

In this video, we will explore the potential impact of this decision on developing countries, specifically India, and the steps that can be taken to mitigate its effects. #petroleum #fiscaldeficit #oilprice #crudeoil #crudeoilnews #russianoil #opec #mint Click here to download the Mint App https://livemint.onelink.me/MrDS/p0kx3pdg

The video highlights the impact of the ongoing banking crisis in the United States on the petrol and diesel prices in India. Despite global oil prices rising due to the crisis, major oil marketing companies in India have not revised their prices for over 15 months, resulting in huge losses for the companies. The recent fall in global fuel prices presents an opportunity for the companies to recover their losses, but they are unlikely to reduce prices anytime soon. It is believed that petrol and diesel prices in India will remain constant for the time being, despite the falling global oil prices.

When asked if she had any discussion with states regarding the matter, the Finance Minister said, as of now, she did not have any discussion with any state government

Rains in Oct in Madhya Pradesh, Maharashtra, Rajasthan and elsewhere have affected onion, tomato and other vegetables, as well as oilseeds and pulses cropsPrices of onions rose from ₹15.87 a kg in March to ₹81.90 a kg on December 3, 2019, the data showed