Business

Oil prices saw a slight uptick as traders awaited crucial talks between US President Trump and China’s Xi Jinping. Lingering concerns over the Strait of Hormuz disruptions and the ongoing Middle East conflict are keeping markets on edge. Despite US pressure, China’s continued reliance on Iranian oil adds complexity to potential resolutions.

India has banned sugar exports until September 30 to control domestic prices amid fears of lower production. This move is expected to impact global supplies and boost international rates. While some shipments already in transit will be allowed, traders face challenges fulfilling existing contracts. The decision follows concerns over weakening cane yields and potential monsoon

Mother Dairy and Amul have both increased milk prices by Rs 2 per litre, effective May 14. This move by India’s leading dairy brands is attributed to rising costs of cattle feed, fuel, and packaging. Amul cited a substantial increase in cattle feed costs and a hike in procurement prices for farmers.