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Rice Prices May Reach ₹100 Per Kg by January, Say Kangayam Millers

Rice millers in Kangayam, Tiruppur district, warn that rice prices could rise to ₹100 per kg by January 2027 due to paddy shortages and rising paddy costs. Currently, rice sells for around ₹75 per kg. Paddy prices have nearly doubled since January, with the KNM variety rising from ₹24 to ₹42 per kg and Amman Ponni from ₹29 to ₹46.20 per kg. About half of the local mills have stopped operations amid supply issues and payment challenges.

The Hindu··Kangayam

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Politics

Nicolás Maduro Charged with Torturing Americans in Venezuelan Prison

The U.S. Justice Department charged former Venezuelan leader Nicolás Maduro and his wife, Cilia Flores, with torturing detainees, including Americans, to suppress opposition and maintain power. Already facing drug trafficking charges, they are set for trial in June 2027. Prosecutors allege torture methods such as electric shocks, rape, isolation, and starvation to repress dissent and undermine Venezuela's democracy.

Deccan Herald·

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Business

RBI Raises Interest Rates to Curb Rising Inflation

The Reserve Bank of India's Monetary Policy Committee has raised interest rates by 25 basis points to address rising inflation. Retail inflation is projected at 4.9% in Q2, rising to 6% in Q3, then easing to 5.7% in Q4. Global oil prices have surpassed $100 per barrel, pressuring fuel costs. A deficient monsoon is also pushing food prices higher, limiting the impact of rate hikes on inflation.

Hindu Business·

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Politics

US Sanctions Two Mumbai Firms and Five Indians Over Iran Oil Trade

The US imposed sanctions on two Mumbai-based firms, SSPL Solutions Private Limited and Samudra Marine Services Private Limited, along with five Indian nationals linked to them for involvement in trading petroleum products from Iran. The sanctioned individuals include Dhwani and Nisarg Vora from SSPL and Ketan Kochikar, Bhupendrasingh Sahu, and Harishyam Hariharan Chundakattil from Samudra Marine. This move is part of the US Operation Economic Outcast targeting Iranian oil trade.

HT World··Mumbai

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Politics

US Imposes New Sanctions on Iran's Shadow Fleet

The Trump administration imposed new sanctions on Iran targeting individuals, networks, and 17 vessels involved in transporting crude oil, oil products, and petrochemicals. This move is part of the Treasury Department's "Operation Economic Outcast," aiming to cut Tehran's funding for war, missile construction, cyberattacks, and the IRGC. It significantly disrupts Iran's illicit maritime operations and intensifies pressure on Iranian oil sales after the US reimposed a blockade on Iranian ports in July.

Deccan Herald·

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Business

Black Sea Conflict Disrupts Yellow Peas and Sunflower Oil Supplies

Ongoing conflicts in the Black Sea region have disrupted Russia's exports of yellow peas and sunflower oil to India. Prices for yellow peas have increased from ₹40 to ₹46 per kg over the past two months due to shipment delays. Importers report no recent shipments from Russia, affecting availability and causing expectations of further price rises for sunflower oil.

Economic Times·

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