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India has exported more than 45,000 tonnes of <keyword id="50894" type="General" weightage="20" keywordseo="onion" source="Orion">onion</keyword> since the ban on outbound shipments was lifted early this month, a top government official said on Wednesday. These exports provided relief to farmers after curbs were imposed to keep domestic supplies steady ahead of general elections. The world's biggest vegetable exporter banned exports of the bulb last December and then extended it in March, after a rise in prices triggered by sluggish production. "Since the ban was lifted, more than 45,000 tonnes of onions have been exported, mostly to the Middle East and Bangladesh," Nidhi Khare, Secretary of the Consumer Affairs Ministry, told PTI. To keep <keyword id="20035406" type="General" weightage="20" keywordseo="onion-prices" source="keywords">onion prices</keyword> affordable during the election period, the government on May 4 lifted the ban but imposed a minimum export price (MEP) of USD 550 per tonne. Khare said the forecast of a good monsoon this year will ensure better sowing of kharif (summer) crops, including onion from June onwards. State-owned agencies have started procuring onions from the recent rabi (winter) harvest to build a targeted 5,00,000-tonne buffer stock for the current year, she added. The country's onion production is expected to fall 16 per cent from a year earlier to 25.47 million tonnes in the 2023-24 crop year due to lower output in key growing regions like Maharashtra, Karnataka and Andhra Pradesh, according to the Agriculture Ministry's first estimates.

India exports over 45,000 tonnes onion after lifting ban, brings relief to farmers

<ul class="summary-list"><li>Deutsche Energy Terminal has been told to reject Russian LNG, according to The Financial Times.</li></ul>Germany is believed to have told its ports to reject Russian cargoes of liquefied natural gas in a bid to further isolate Vladimir Putin's energy industry.The country's economic ministry told the state-owned Deutsche Energy Terminal not to accept deliveries of Russian LNG, according to a letter dated November 6 obtained by the <a target="_blank" class="" href="https://www.ft.com/content/94bb16b8-b4b1-4360-b7d0-cecca1ebffaa?accessToken=zwAGJtzDN_1YkdOUuxa4tLFDYNO30M7Moev_qg.MEYCIQClq2abFM5Kf3q6PR9Ry9NhImf-JYCu4Yh6Rh9BsTbqZgIhAPT3_uF_tz7M8QVY1Ev2iiCyzpSATlrHAOp2YMu48s9L&amp;sharetype=gift&amp;token=4d2150bc-286c-4fe0-9795-2102f9e6b9ca">Financial Times</a>.The letter was sent after the company was due to receive a Russian cargo shipment on Sunday at its import facility in Brunsbüttel, the FT said.It went on to say that the decision would protect Germany's "overriding public interests."The letter added that accepting the deliveries would defy the reason the German terminal was initially opened — to allow Germany and the EU to become "independent of Russian gas."It comes as the EU weighs up buying more LNG from the US when President-elect Donald Trump takes office in a bid to convince him not to impose high import tariffs on EU companies. Trump pledged on the campaign trail to impose <a target="_blank" rel="" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">a fresh era</a> of trade <a target="_blank" class="" href="https://www.businessinsider.com/global-reaction-donald-trump-election-victory-tariffs-trade-disputes-2024-11">tariffs</a>. He has vowed to impose a 60% tariff on goods imported from China and a 10% blanket tariff on all other goods entering the US.European Commission president Ursula von der Leyen said last week that she would consider replacing Russian LNG with more US imports as part of trade talks."We still get a lot of LNG from Russia, and why not replace it with American LNG, which is cheaper for us and brings down our energy prices," von der Leyen told reporters on Friday. "It's something where we can get into a discussion," she said, referring to the US's trade deficit with the eurozone, which reached <a target="_blank" rel="" class="" href="https://ustr.gov/countries-regions/europe-middle-east/europe/european-union">$131.3 billion in 2022.</a>"It would be in the interest of the US that Europe continues to shun Russian fossil fuels, given the US oil and gas industry has been one of the key beneficiaries of this move," wrote Warren Patterson, the head of commodities strategy at <a target="_blank" rel=" nofollow" class="" href="https://think.ing.com/articles/what-a-trump-presidency-means-for-oil-and-gas-markets/">ING,</a> last week.The EU — which previously relied on Russian energy — banned seaborne Russian crude imports and refined petroleum products following the full-scale invasion of Ukraine in February 2022.As BI previously <a target="_blank" class="" href="https://www.businessinsider.com/russia-oil-gas-energy-industry-europe-target-trump-election-win-2024-11">reported</a>, it has also cut most of its piped natural gas imports from Russia, replacing much of it with LNG from the US. The US is now a top exporter of gas to Europe, accounting for <a target="_blank" rel=" nofollow" class="" href="https://energy.ec.europa.eu/topics/carbon-management-and-fossil-fuels/liquefied-natural-gas_en">46% of the bloc's supply in 2023.</a>Germany hasn't imported LNG directly from Russia since the invasion. However, according to a Kpler report obtained by FT, the country's state energy group, Sefe, has a long-term contract to import Russian LNG via France.In a statement to Business Insider, a spokesperson for Germany's economic ministry said it wouldn't comment on "possible leaked documents.""It is correct that Germany does not import Russian gas and it is also clear to the Ministry of Economic Affairs and Climate Action that this must not happen via German LNG terminals," the spokesperson added.Deutsche Energy Terminal and Sefe did not immediately respond to a request for comment from BI.

Germany banned Russian gas from its ports, the latest move to isolate Putin's energy industry: report

<ul class="summary-list"><li>Russian President Vladimir Putin is considering limiting strategic commodity exports to counter Western sanctions.</li><li>Putin cited uranium, nickel, and titanium as some commodities his government can look into.</li></ul>Russian President Vladimir Putin wants to impose his own trade restrictions to retaliate against the West's sanctions.But there's one issue: He still needs to fund the war in Ukraine and profits from oil exports are likely under pressure.On Wednesday, Putin told his government to consider the export of strategic commodities, such as uranium, nickel, and titanium, according to state news agency <a target="_blank" class="" href="https://tass.com/politics/1841901">TASS</a>."They are restricting supplies of a number of goods to us. Well, maybe we should also impose certain restrictions?" Putin said.However, any such limits should only be imposed if they do not "harm us," said Putin, adding that he wasn't saying he was expecting action "tomorrow."Russia is a commodities giant and a top exporter of the three metals Putin highlighted, so any disruption to supply could have serious global fallout.Among other uses, uranium is used for nuclear energy generation, nickel is used in batteries, and titanium is used in aerospace manufacturing.The US has already banned some <a target="_blank" class="" href="https://home.treasury.gov/news/press-releases/jy2249">Russian metal imports,</a> including <a target="_blank" class="" href="https://www.state.gov/prohibiting-imports-of-uranium-products-from-the-russian-federation/">uranium.</a>Markets took note: Three-month nickel on the London Metal Exchange closed 2.5% higher on Wednesday, following Putin's comments. Shares in uranium miners also jumped.Russia imposed temporary <a target="_blank" class="" href="http://government.ru/en/docs/50528/">export bans</a> for over 200 products in March 2022, which it said was to "maintain stability" in its own market. It also introduced a temporary ban on gasoline exports from March this year to meet rising local demand.<h2 id="f0a3921e-4ca4-4c37-b715-b0011e112a60">Russia's oil profits are likely under pressure</h2>In addition to metals, commodities are a huge contributor to Russia's bottom line.The oil and gas industry accounts for <a target="_blank" class="" href="https://www.oxfordenergy.org/wpcms/wp-content/uploads/2024/03/Follow-the-Money-Russian-Oil.pdf">30% to 50% of federal budget revenue,</a> the Oxford Institute for Energy Studies estimated.Europe is weaning itself off of Russian fossil fuels. While Russia has managed to pivot to <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">alternative markets, </a>the commodities are often sold at huge discounts due to sanctions, according to an <a target="_blank" class="" href="https://prod-us3.plattslive.com/commodities/crude/news-and-insight/081324-sanctions-dent-russian-economy-but-commodities-exports-boost-kremlin-coffers">S&amp;P Global</a> report last month.At the same time, Russia's breakeven oil price has increased since the war started, according to S&amp;P Global, which attributed the rise to conflict-related costs.This year, Russia's breakeven oil price is $94 a barrel — up from $62 a barrel in 2021, per S&amp;P Global. This suggests profits are under pressure, especially since the G7 has imposed a $60 a barrel <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/eu-sanctions-russian-oil-price-cap-crude-price-outlook-exports-2022-12?_gl=1*ftslw5*_ga*MTM0MjM1NDU5My4xNjg1MTUzMTcw*_ga_E21CV80ZCZ*MTcyNjExMjUzNC4xMjQzLjEuMTcyNjExNDM0NC42MC4wLjA.">price cap</a> on Russian seaborne oil.To be sure, Europe hasn't been able to sanction many other Russian commodities outside the oil and gas sector so far because there are concerns about global food security if grains, oil seeds, and fertilizer exports are restricted.Finland and parts of Eastern Europe also need Russian uranium because they use Russian-made nuclear energy reactors.While Europe faces challenges in reducing its reliance on Russian commodities, Russia has its own export problems, too. Commodities are important for its war chest and there's only so much oil it can pump, as the country is part of the OPEC+ oil alliance."Russia has managed to sustain its oil production and exports despite Western sanctions and <a target="_blank" class="" href="https://www.opec.org/opec_web/en/press_room/7369.htm">OPEC+ cuts,</a> although it has faced challenges with its oil cash flows," wrote Svetlana Tretyakova, a senior analyst at Rystad Energy, in late August.Russia exported 3.36 million barrels per day of seaborne crude oil in August, per <a target="_blank" class="" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/090424-russian-oil-product-exports-slump-to-post-pandemic-low-in-august">S&amp;P Global.</a>However, ongoing compliance issues with OPEC+ production targets and low crude stocks pose risks to sustaining this level, wrote Tretyakova.

Putin wants to retaliate against Western sanctions with commodity export curbs — but Russia needs the money, too

<ul class="summary-list"><li>Russia will ban gasoline exports for six months starting March 1, Reuters reported.</li><li>The proposed ban aims to curb the rising demand and keep domestic prices level. </li></ul>Russia is set to ban gasoline exports for six months to stabilize prices and counter escalating demand for crude products. The restriction, effective on March 1, was confirmed by Alexander Novak, the spokesperson appointed by Russian President Putin for Deputy Prime Minister and the key figure overseeing Russia's extensive energy sector, <a href="https://www.reuters.com/business/energy/russia-bans-gasoline-exports-6-months-march-1-2024-02-27/" target="_blank" rel="noopener">Reuters reported Tuesday</a>, citing Russia's RBC.The report added that Russia's Prime Minister Mikhail Mishustin greenlighted the ban proposed by Novak in a letter dated on February 21, but the official decree was pending. The ban aims to address surging domestic demand for petroleum products, while safeguarding prices and helping refiners in Russia's domestic market, according to Novak. With a presidential election coming up in March, Russia's local fuel prices have become an important issue for drivers and farmers. Meanwhile, Russian refineries have grappled with disruptions from Ukrainian drone attacks in recent months. Since Russia invaded Ukraine in February 2022, the world's second-largest oil exporter has seen many of its <a href="https://markets.businessinsider.com/news/commodities/russia-sanction-oil-tankers-shadow-fleet-crude-exports-price-cap-2024-2">tankers sanctioned</a> by the West, and <a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/022724-russia-to-ban-gasoline-exports-for-six-months-from-march-1#:~:text=Moscow%20will%20introduce%20a%20six,a%20source%20close%20to%20government." target="_blank" rel="noopener">S&amp;P Global reported</a> that gasoline exports were down 27% on the year in mid-February.

Russia will reportedly ban gasoline exports for 6 months to offset 'excessive' demand for crude products

<ul class="summary-list"><li><keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> has removed <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> and Threads from its <keyword id="9682664" type="General" weightage="20" keywordseo="chinese-app-store" source="Orion">Chinese app store</keyword> following a government order.</li><li>WhatsApp has been blocked in <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> since 2017 and its parent company Meta since 2009.</li></ul>Apple removed WhatsApp and Threads from its app store in China after being told to do soby the Chinese government, according to the <a target="_blank" href="https://www.wsj.com/tech/apple-removes-whatsapp-threads-from-china-app-store-on-government-orders-a0c02100">Wall Street Journal</a>. China's top internet regulator asked Apple to remove the two apps because of national security concerns. "We are obligated to follow the laws in the countries where we operate, even when we disagree," an Apple spokesperson told The Journal. The Chinese government has blocked WhatsApp since 2017, while its parent company, Meta, has been blocked since 2009. Other <a target="_blank" href="https://www.businessinsider.com/major-us-tech-companies-blocked-from-operating-in-china-2019-5#twitter-3">Western media platforms</a>, including Gmail, YouTube, Snapchat, and Spotify, have also been censored in China. Some users find ways to access these platforms through virtual private networks, but removal from the app store may prevent this. Apple did not immediately respond to Business Insider's request for comment sent outside normal business hours. A Meta spokesperson referred BI to Apple for comment. WhatsApp has over <a target="_blank" href="https://www.businessinsider.com/whatsapp-hits-2-billion-pushes-back-on-encryption-2020-2">2 billion users</a> globally, while Instagram Threads, which launched in July, has over 130 million global users, <a target="_blank" href="https://techcrunch.com/2024/02/01/threads-now-reaches-more-130-million-monthly-users-says-meta-up-30m-from-q3/">CEO Mark Zuckerberg said in February.</a> China is an important manufacturing and consumer market for Apple. CEO Tim Cook <a target="_blank" href="https://www.businessinsider.com/apple-ceo-tim-cook-china-development-forum-xi-jinping-meeting-2024-3">visited the country last month</a> to open a new store in Shanghai and rub elbows with top policymakers. That visit came after <a target="_blank" href="https://www.businessinsider.com/apple-iphone-sales-china-down-huawei-vivo-smartphone-2024-3">iPhone sales dropped</a> earlier this year. And in January, Chinese chipmakers drew up plans to create <a target="_blank" href="https://www.businessinsider.com/apple-to-face-huge-threat-to-iphone-in-china-2024-2">chip production lines</a> to supply processors to local smartphone makers. The move stands to hurt Apple, which has so far benefited from tight export restrictions. China's direction to Apple comes as US policymakers <a target="_blank" href="https://www.businessinsider.com/tiktok-ban-bill-explained-politics-tech-platform-2024-3">debate a ban</a> on TikTok, the popular Chinese app. Some lawmakers are concerned about data harvesting and political influence. The bill would prevent Apple and Google from distributing TikTok's app in their app stores and ban US websites from hosting TikTok.

China just made it even harder for people in the country to access WhatsApp and Threads

After Singapore and Hong Kong, Nepal has also banned the sale and import of certain spice-mix products manufactured by Indian brands over alleged quality concerns. Four spice-mix products by <keyword id="21333385" type="General" weightage="20" keywordseo="MDH" source="keywords">MDH</keyword> and <keyword id="19997009" type="General" weightage="20" keywordseo="Everest" source="keywords">Everest</keyword> were banned in the Himalayan nation from Friday due to suspected ethylene oxide or EtO contamination, according to the Department of Food Technology and Quality Control here. Under this, Madras Curry Powder, Sambhar Mixed Masala Powder; Mixed Masala Curry Powder of MDH and Fish Curry Masala of Everest have been banned in Nepal. "As residue contents of ethylene oxide are found to be exceeding the prescribed limit in these four products, the import and sale of these products are banned within the country as per Article 19 of the Food Regulation 2027 B.S.," the department said in a notice issued on Friday. "Our serious attention has been drawn towards media reports about the sale of these sub-standard products in the market, and they are harmful for consumption," it said. The food quality control watchdog has also urged importers and traders to recall these products from the market. Last month, Singapore and Hong Kong halted sales of some spices produced by MDH and Everest over suspected elevated levels of ETO linked with some cancers. The Food Safety and Standards Authority of India (FSSAI) has since initiated steps to examine the quality of powdered spices from various brands in the country. On Friday, the Federation of Indian Spice Stakeholders (FISS) said India's spice export may decline nearly 40 per cent in FY25 if the issue of <keyword id="21673555" type="General" weightage="20" keywordseo="ethylene-oxide-contamination" source="keywords">ethylene oxide contamination</keyword> in spices meant for exports is not addressed at the earliest. India is among the world's leading spice producers, exporting over 200 spices and value-added products to some 180 countries worth USD 4 billion in 2021-22, according to the Spices Board of India. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

Nepal bans sale of Indian spice-mix products over quality concerns

From burgers to breakfast cereal, some key ingredients are being hit by food export bans &mdash; industry experts tell us what might be next

<ul class="summary-list"><li>The US set a new record exporting 3.99 million barrels a day of crude oil in first half of 2023.</li><li>That's up 19% from the same time a year ago, EIA data shows.</li></ul>US crude oil exports set a new record earlier this year as booming production has helped erode OPEC's dominance in global crude markets.Exports in the first half of 2023 averaged 3.99 million barrels per day, according to <a href="https://www.eia.gov/todayinenergy/detail.php?id=61104" target="_blank" rel="noopener">data</a> released Wednesday from the Energy Information Administration.That's up 19% from a year ago and the highest for the first half of a year since 2015, when the US ban on crude exports ended.The surge in exports arrives as the US has been pumping a record amount of oil, topping 13 million barrels a day in September and reinforcing its status as the world's top producer.To be sure, Saudi Arabia remains the leading exporter of oil, with shipments exceeding 6 million barrels a day. But the flood of oil from the US has made it harder for OPEC to dominate the oil market.In fact, the huge volumes of production from countries like the US, Brazil, and Guyana has whittled OPEC's share of the oil market to its <a href="https://markets.businessinsider.com/news/commodities/oil-prices-outlook-record-us-production-opec-market-share-energy-2023-12">lowest levels in nearly a decade</a>, according to the International Energy Agency.That's as OPEC nations like Saudi Arabia have implemented steep production cuts this year in an attempt to stabilize <a href="https://markets.businessinsider.com/news/commodities/oil-prices-today-outlook-crash-demand-supply-crude-energy-saudi-2023-12">oil prices</a> after they fell during the pandemic.Those <a href="https://markets.businessinsider.com/news/commodities/oil-price-crash-opec-saudi-arabia-us-production-brent-outlook-2023-12">efforts have been thwarted</a> by a stream of non-OPEC oil production, as crude prices remain below September levels."Saudi Arabia has held barrels off the market making room for additional US exports, while at the same time flows from Russia have shifted away from Europe opening the opportunity for US barrels to go to Europe," Rebecca Babin, senior equity trader for CIBC Private Wealth, told Business Insider.Energy expert Paul Sankey said earlier this month that Saudi Arabia would <a href="https://markets.businessinsider.com/news/commodities/oil-outlook-saudi-arabia-opec-production-us-share-crude-supply-2023-12">wage a "market share war" with the US</a> to regain command over oil prices by flooding the market with a surge of supply.But for now, the oil cartel plans to continue with its production cuts, slashing 2.2 million barrels per day in the first quarter of 2024. On the flip side, US production is <a href="https://markets.businessinsider.com/news/commodities/us-oil-production-outlook-opec-cuts-saudi-arabia-flood-market-2023-12">expected to grow even more next year.</a>

You Searched For "export ban" and got 8 results

India exports over 45,000 tonnes onion after lifting ban, brings relief to farmers

PTI

Germany banned Russian gas from its ports, the latest move to isolate Putin's energy industry: report

Mikhaila Friel

Putin wants to retaliate against Western sanctions with commodity export curbs — but Russia needs the money, too

Huileng Tan

Russia will reportedly ban gasoline exports for 6 months to offset 'excessive' demand for crude products

Yuheng Zhan

China just made it even harder for people in the country to access WhatsApp and Threads

Shubhangi Goel

Nepal bans sale of Indian spice-mix products over quality concerns

PTI

From burgers to breakfast cereal, some key ingredients are being hit by food export bans industry experts tell us what might be next

Zahra Tayeb

US crude exports set a record high amid market share war with OPEC

Aruni Soni

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