On this week's S&P Global Commodity Insights' Market Movers Asia with Anupam Chatterjee, Associate Editor, Global Thermal Coal:
*Spotlight is on India's wheat stocks
*Onset of monsoon in Indonesia will hamper coal output and lend support to prices.
*Focus is on India's renewable hydrogen policy, cap-and-trade mechanism for carbon markets
*Clean tanker demand to move gasoil to Europe from the Persian Gulf and India is expected to rise
This week, global wheat markets will be watching India's stock-building efforts after inventories last week hit the lowest level since 2016 at 18 million mt.
India is aiming to raise its wheat stocks above buffer levels by Jan. 1, with its wheat sowing pace increasing 25% year on year.
A larger wheat harvest in India is expected to help ease the supply tightness in Asian markets.
In thermal coal, the start of monsoon season in Indonesia will likely hamper output and lend support to prices.
How long China's current pre-Lunar New Year buying spree lasts will be in focus and the impact of rising COVID-19 cases in the country will also be closely watched.
In energy transition, policies for a carbon market and renewable hydrogen are imminent in India following the passage of key legislation last week.
The renewable hydrogen policy is expected to fix compulsory purchase quotas on key sectors such as refining and fertilizers.
The framework of a cap-and-trade mechanism and the emissions cap to be fixed on 12 industries including thermal power, steel & iron and fertilizers will be the focus of the policy for the carbon market.
In clean tankers, demand for moving gasoil to Europe from the Persian Gulf and India is expected to rise this week as winter weather gets harsher.
It may provide further support to the already firm rates and push up the earnings of shipowners.
I'm Anupam Chatterjee. Thanks for following the markets with S&P Global Commodity Insights this year. We'll see you in 2023.