India s diesel exports have decreased by 25% year-on-year in the first 11 months of the financial year to $20 billion due to softer international market prices. Despite this, the export volume rose marginally to 26 million metric tonnes from 25.8 million metric tonnes. Petrol exports also declined, fetching $10 billion, a 13% decrease compared to the previous year, although the export volume increased by 4% to 12.1 million metric tonnes.
International Business News: Zimbabwe wants miners to come forward by the end of March with plans to produce battery-grade lithium, despite a sharp fall in global prices for the mineral. The government hopes to benefit from a global shift towards clean energy storage. Read more about Zimbabwe's plan for lithium production.
"Subsidy is expected to be lower this year because of fall in global prices. We have not increased retail prices to reduce subsidy," he said, adding that subsidy bill is estimated around ₹1.7-1.8 lakh crore.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, was 13.7% lower last year than the 2022 average, but its measures of sugar and rice prices growing in that time. The drop in food commodity prices in 2023 comes despite a difficult year for food security around the world.