Daily Economic News - 29 August 2014
India’s soymeal exports may hit decade low:
The nation's soymeal exports are expected to fall to a decade low in the current financial year, as higher local prices have rendered Indian supplies uncompetitive in the international market. Exports may remain below 2 million tonnes in the year through March 2015, compared with around 2.8 million tonnes in 2013-14. Higher soybean seed prices have made Indian soymeal uncompetitive in the world market. This year the global supply is on the higher side and there is ample supply of soybean and soymeal in the world market.
(Source: The Economic Times)
FMCG market may grow 10% in second half, says Nielsen:
The consumer goods market in the country is likely to grow 8%-10% in the second half of the current fiscal, says market researcher Nielsen that has spotted a clear correlation between its consumer confidence index and FMCG demand with a two-quarter lag. The FMCG market grew 7% in the first half of the year, but sales growth rate in urban India almost halved to 6% between January and June. Throughout last fiscal, FMCG industry was under pressure with slowdown in most categories, particularly those involving discretionary spending. This led to the sector growth rate slowing to a decade's low. Supporting Nielsen's prediction of improved growth rates in the second half, marketers said things have started looking up. Nielisen predicts 10%-12% growth in the second half if the rainfall levels this monsoon season end up at 93% of the normal as predicted by the Met department.
(Source: The Economic Times)
Govt’s public debt rose by 3.7% in April-June quarter:
The government's public debt increased by 3.7% in the April-June quarter of FY15 compared to a 0.5% rise for the same period last fiscal, a finance ministry statement said on Thursday. In the first quarter, the government issued dated securities worth Rs 1.98 lakh crore or 33% of the budgeted gross borrowing figure for FY15. This is higher than R1.51 lakh crore issued in April-June last fiscal, or about 26.1% of FY 14 estimates.
(Source: The Financial Express)
Loans to industries stay anaemic:
Growth in loans to industries continued to be anaemic in July and rose at just 10.1% year-on-year to R25,07,900 crore compared with the growth of 15.9 % in the corresponding period in July 2013, latest data from the Reserve Bank of India on Thursday showed.
Credit to large industries grew only 1.8% y-o-y to R20,25,700 crore compared with a growth of 16.7% in the corresponding period last year.
The consumer durables loan segment grew the fastest in the retail segment and increased 10% to R14,100 crore while credit to home loans was also muted and recorded a growth of 6.1% to R5,68,000 crore.
(Source: The Financial Express)
Thaiindianet.Team
29 August 2014
