The overall outlook for US corn, soybeans and wheat in 2024 is for larger supplies only partially met by increased domestic use and firming global demand. That preliminary forecast from the Interagency Commodity Estimates Committee was presented during the US Department of Agricultureโs (USDA) 100th annual Agricultural Outlook Forum by Jake Vuillemin, an agricultural economist…
Coal is having a renaissance. Despite the fact that even the most coal-dependent countries agree that coal needs to be phased out as soon as possible, itโs proving to be much, much easier said than done. As the price of energy soars on the back of geopolitical risks and supply shortages, legions of consumers are…
In January-September 2022, Kazakh seaborne coal exports surged to 6.6 mio t (+3.1 mio t, or +85.6% y-o-y). Total coal exports from Kazakhstan amounted to 24.7 mio t (+1.9 mio t or +8.1% y-o-y). The harsh international economic sanctions against Russia, as well as the embargo on Russian coal exports to European countries, starting from…
Numerous residents residing in rural areas relying on depleting wells are encountering challenges accessing consumable water. Driven by drought, Joan Torrent treks into the woods with empty jugs to collect water from a natural spring. He hauls them back to his home in Gualba, a village near Barcelona suffering the brunt of Spainโs record drought.…
In 2022, coal comprised 26.7% of the worldโs primary energy consumption. That was behind oil (31.6%), but ahead of natural gas (23.5%). However, coal was responsible for more carbon dioxide emissions than its fossil fuel counterparts. Fossil fuels are primarily composed of carbon and hydrogen. They are hydrocarbons. When hydrocarbons are combusted, the carbon forms…
The UAE, its president, oil firm ADNOC, a Swiss-based private investigation firm and others are being sued for $2.8 billion from bankrupt oil firm Lord Energy and its owner, Hazim Nada. The lawsuit originates from allegations of fraud and a targeted attempt to defame the company. The suit was filed in federal court in Washington,…
Cheaper coal compared to natural gas is set to make Turkey the biggest coal-burning nation in Europe this year, surpassing Germany, according to data by environmental think tank Ember cited by Reutersโ analyst Gavin Maguire. Runaway inflation in Turkey and the devaluation of the Turkish lira in recent years have raised the amount of money…
Russian coal exports declined further in 2024 amid economic sanctions and logistical issues. Recent US sanctions against SUEK and Mechel, meaning that these companies are no longer able to conclude new deals, have put under threat 20% of Russian coal exports, or more than 30 mio t. Due to high transshipment rates, Russian mining companies…
Indiaโs coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russiaโs invasion of neighbouring Ukraine. India, the worldโs second-biggest coal importer behind China, has long been viewed as a price-sensitive buyer of the polluting fuel, and given the surge in prices after Russiaโs Feb. 24 attack on Ukraine,…
Grain traders have imported one million tons of Ukrainian wheat to Romania this season. This makes Romania the second largest export market for Ukrainian wheat after Spain (3.3 million tons), reports the Romanian business portal Economica.net, citing data from the Ukrainian customs authorities. In contrast, MEP Enikล Gyลri (Fidesz) emphasized that โwe cannot be in…