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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; WTI touches $116 Crude oil futures rise after Trump threatens Iran over Hormuz deadline Prices of essential food items are not unusually volatile, says Govt NSE to launch Brent Crude futures based on Platts benchmark West Asia crisis hits activated carbon exports as costs surge amid shipping woes Crude oil futures rise to ₹9,284/barrel as Trump threatens Iran over Hormuz blockade Saudi Arabia hikes Arab Light May OSP for Asia to record $19.50/bbl Crude oil unlikely to fall to $70 in 2026, may remain at $80-85; risks to growth, inflation: UBI report Kharif 2026: Crystal Crop Protection launches fodder seed products Brent crude edges up as Trump issues ultimatum to Iran OPEC+ to raise output in May as Russia, Saudi Arabia lead increase OPEC+ output hike overshadowed by Strait of Hormuz disruption Crude Check: Strength Intact Five EU countries call for windfall tax on energy companies amid Iran war India resumes energy trade with Iran after seven years Iran, Saudi LPG shipments arrive, unload at New Mangalore Port India buys oil from Iran for first time in 7 years with no payment issues Govt says fuel supplies sufficient despite war disruption, avoid panic buying West Asia Conflict: Russia offers topping up supplies of crude, fertilisers, LNG to India Iranian Oil cargo to India diverts to China amid payment dispute Central banks gold purchases net up in February, but Russia, Turkiye sell BuzzBallz clocks 3x monthly growth in Bengaluru, eyes Maharashtra and Goa expansion India’s 2026-27 peanut output may rise 3% on higher area Hindustan Zinc mined metal production up 2% in 2025-26; silver down 9% Basmati exporters seek relief as shipping lines levy charges amid disruption due to war Tanker carrying Iranian crude oil shifts course from India to China Oil prices surge while Asian share prices rise moderately Trump to reduce steel, aluminum tariff rates for derivative products, sources say West Asia conflict erodes Qatar’s share in India’s LNG imports to record low in March India procures 6% more rice from farmers in 2025-26 kharif marketing season OPEC+ likely to weigh further oil output hike on Sunday, sources say Reliance SEZ refinery exempt from diesel, ATF export tax: Govt OMCs face losses as crude tops $100 while fuel prices remain unchanged
APEDA to conduct Basmati survey in 4 mln ha, double the area of actual crop grown
2026-05-06 · via Commodity Market, Commodities News Today | The HinduBusinessLine

Last week, Union Minister of State for Commerce Jitin Prasada unveiled India’s first AI-based Basmati Paddy Survey project (2026–2028), an ambitious initiative to be implemented by APEDA covering approximately 4 million hectares.

This target has sparked significant industry debate, as APEDA’s own 2023 report estimated the total Basmati cultivation area at only 2.14 million hectares, less than half of the new project’s scope. The discrepancy has fuelled intense discussions regarding a potential expansion of the current Basmati Geographical Indication (GI) zone, a move that remains contested given that the legal inclusion of Madhya Pradesh is still sub-judice. By deploying AI across such a vastly expanded territory, the government appears to be preparing for a broader mapping of aromatic rice production, even as the official boundaries of the traditional Basmati belt remain a matter of legal and regional contention.

Besides, there are issues with regard to collaboration with a particular industry body, whose representative is also a Board member of the Basmati Export Development Foundation (BEDF), since the funding of the project has to come from the corpus of BEDF. To generate funds for BEDF, APEDA currently charges ₹70 per tonne from Basmati exporters for registration of contract, which is mandatory before allowing shipments.

The Basmati Paddy Survey project (2026–2028) will cover nearly 4 million hectares, collect data from over 150,000 ground-truth points and engage with more than 500,000 farmers, the government statement said. The aim is to support precise crop assessment, varietal identification, scientific advisory services and improved export planning.

Industry sources said that till Kharif 2023, APEDA was conducting the Basmati survey every year, except during the Covid pandemic, and it discontinued the survey from 2024 under pressure from a few exporters. The sources also said that the agency which conducted the survey was requested to include the non-GI areas, which it politely refused since the crop grown in those areas does not qualify to be called Basmati legally.

Queries sent to APEDA for reply were not answered till the time of writing.

The Indian Rice Exporters’ Federation (IREF) said it was not approached by APEDA so far for any collaboration for a crop survey and, given a chance, it would like to partner for the initiative. “We plan to approach APEDA for a joint collaboration and involving IREF in the entire process for carrying out the proposed Crop Survey which is the main pivot for well-conceived policy decisions,” said Vinod Kaul, director general of IREF. Precise data and statistics about production can be generated only through a structured crop survey, he added.

However, IREF favoured a crop survey in non-GI areas as well. “It would be beneficial to have Basmati crop survey report in two segments -- Basmati rice cultivated in the GI Area and Basmati rice varieties cultivated in other than GI area,” Kaul said.

Historically, the actual area sown with pure Basmati varieties in India is typically around 2.1 million hectares. However, the GI region for Basmati — which covers parts of Punjab, Haryana, western Uttar Pradesh, Uttarakhand, Himachal Pradesh, and Jammu and Kashmir — spans a much larger area, over 6 million hectares.

After prolonged hearings for years, the Chennai-based GI registry in February 2016 issued the GI certificate to APEDA for Basmati rice, under which the recognised area included some districts of Jammu and Kashmir, Himachal Pradesh, Punjab, Haryana, western Uttar Pradesh, Uttarakhand and Delhi. The Order was upheld by the GI appellate tribunal, dismissing the appeal of the Madhya Pradesh government for the state’s inclusion.

When the matter reached the Madras High Court in 2020, the MP state government was asked why it did not approach the Registrar of Trade Marks seeking cancellation or modification in the GI Certificate issued to APEDA since it was a statutory remedy. The High Court dismissed the petition. But MP moved the Supreme Court, which in September 2021 set aside the High Court order and remanded the matter back for fresh consideration, preferably within three months. Since then, the matter is pending.

Published on May 6, 2026