Page 2 - Export

Wheat exports rise 30% to $1.5 billion in Apr-Nov: Commerce ministry

Wheat exports rose 29.29 per cent to USD 1.50 billion during April-November this fiscal from USD 1.17 billion in the same period the previous year, the commerce ministry said on Friday. Though the government banned wheat exports in May, some shipments are allowed to meet the food security needs of the countries that request it. The ministry said that Basmati rice exports too increased by 39.26 per cent to USD 2.87 billion during April-November 2022, while that of non-basmati rice registered a growth of 5 per to USD 4.2 billion in the same period. "Wheat export has registered an increase of 29.29 per cent in eight months of the current fiscal as its export rose to USD 1508 million in April-November 2022 from USD 1,166 million in April-November 2021," it added. The outbound shipments of agricultural and processed food products rose by 16 per cent in the eight months of the current fiscal to USD 17.43 billion. "For 2022-23, an export target of USD 23.56 billion has been fixed for the

Agrichemical exporters expected to clock better growth than domestic peers

Brokerages have a mixed outlook on margin trajectory for the sector

India's oilmeals export jumps almost two-fold in Apr-Nov period: SEA

India's oilmeals export saw almost two-fold jump at 23.92 lakh tonnes during the April-November period of the current fiscal, on record export of rapeseed meal, according to the latest data released by the industry body SEA on Monday. The country had exported 15.96 lakh tonnes of oilmeals in the same period last fiscal. Oilmeals are used as animal feed. According to the Solvent Extractors Association of India (SEA), the export of soyabean extraction rose to 3.26 lakh tonnes during April-November period of the 2022-23 fiscal from 2.19 lakh tonnes in the year-ago period. Similarly, there was a record rapeseed meal shipment at 14.76 lakh tonnes in the first eight months of the current fiscal, as against 7 lakh tonnes in the year-ago period. The groundnut extraction shipment rose to 16,536 tonnes from 2005 tonne, while that ricebran extraction export declined to 3.37 lakh tonnes as against 4.49 lakh tonnes during the comparable period. Export of castorseed meal rose marginally to 2.35

Exports record flat growth at $32 billion in November vs $31.8 bn YoY

India's exports on Thursday recorded a flat growth at USD 31.99 billion in November as against USD 31.8 billion in the same month last year. Imports rose marginally to USD 55.88 billion in November as compared to USD 53.93 billion in the corresponding month a year ago, according to the data released by the government. The country's exports contracted by 16.65 per cent to USD 29.78 billion in October 2022. During April-November 2022, exports stood at USD 295.26 billion as against USD 265.77 billion in the same month last year. Imports stood at USD 493.61 billion during the eight months period of this fiscal. It was USD 381.17 billion during April-November 2021, as per the data.

Bharat Forge: Diversification, lower input costs should reap benefits

Bharat Forge is the largest exporter in forgings components globally, with around 60 global customers and about 68 per cent of its revenue from exports

Rajasthan is making efforts to achieve Rs 1 trn exports target: REPC chief

Rajasthan has traditionally exhibited strength in the export of handicrafts, gems and jewellery, dimensional stones, agro & food, and textile products

27,000 Vivo phones held by DRI over suspected violations released

The shipment, worth nearly $15 million, is unlikely to be exported as the packaging of many of the phones was damaged and the devices were switched on to check unique ID numbers, the people said

CCI approves Bharat Biotech International-Eastman exports deal

The Competition Commission of India on Monday said it has approved the proposed deal of Bharat Biotech International Ltd for acquiring shares of Eastman Exports Global Clothing Pvt Ltd through a share purchase agreement. The deal has been approved under the green channel route, wherein a transaction which does not raise any risk of an appreciable adverse effect on competition is deemed to be approved on it being intimated to the competition watchdog. In a release on the CCI's website, the fair trade regulator said it has approved the deal. The proposed combination relates to the acquisition of shares of Eastman Exports Global Clothing (EEGC) by Bharat Biotech International Ltd (BBIL) being implemented by way of the share subscription agreement, share purchase agreement. "Given that there are no horizontal overlaps, vertical and/or complementary links between the activities of the BBIL (including its affiliates) and EEGC, the proposed combination is being notified under the green .

Chatroom: 'RoDTEP credit doesn't lapse after 1 year from scroll generation'

The ICPO referred to by you does not give you full payment security, as, say, a bank guarantee or irrevocable LC would give

Exporters demand fiscal support, credit at affordable rates in next Budget

Exporters on Thursday demanded measures such as creation of a fund and credit at affordable rates in the forthcoming Budget to boost the exports and create jobs. In a pre-budget meeting with Finance Minister Nirmala Sitharaman, Federation of Indian Export Organisations (FIEO) said depreciation of the rupee against the US dollar is affecting exports' competitiveness and due to that the sector requires more support. "Creation of employment is the biggest challenge faced by the country....We would urge the government to provide fiscal support to units who provide additional employment in the export sector. Such a scheme will also help workers move from informal employment to formal employment," the federation said. Incentives may be provided based on twin criteria of growth in exports and growth in workers so that while on the one hand exports are increased, on the other hand, employment intensive units also get a boost, it said adding when global demand is declining, it becomes all

Centre pushes for reviving export commissioner posts for boosting trade

The export commissioners will be expected to operate under clear targets to expand exports from their states

Chatroom: 'Export incentives available on payments received through SVAs'

Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India

India in talks with other countries to export green hydrogen, official says

"We are in a position to make green hydrogen as our main source of energy in the future," Prabhat Kumar, an additional secretary of the external affairs ministry, said at an industry event.

Global supply chains gear up for overhaul next year, survey shows

The survey also showed concerns were broader than supply chains, with 51% of respondents saying their expect the environment for international trade to be harder next year

May raise sugar export quota after assessing domestic output: Food Ministry

The government, which has allowed export of 6 million tonne of sugar till May 31 of the ongoing 2022-23 season, on Sunday said it could consider allowing more export after periodic assessment of the domestic production. A food ministry notification issued on November 5 said export quota of 6 million tonne has been permitted from November 1 till May 31, 2023 with an option for millers to export on their own or through exporters or swap with domestic sale quota. In a statement issued on Sunday, the ministry said the export quota has been fixed based on the available initial estimates of sugarcane production in the country. "The sugarcane production in the country will be reviewed periodically and based on the latest available estimates, the quantity of sugar exports to be allowed could be reconsidered," the ministry said. Mills have been asked to export allocated sugar quota speedily to make early payment to cane farmers, it said. Mill-wise sugar export quota has been fixed for the

Russia rejoins deal on wartime Ukrainian grain exports to global markets

Russia agreed Wednesday to rejoin a wartime agreement that allows Ukrainian grain and other commodities to be shipped to world markets. The UN's refugee chief, meanwhile, put the number of Ukrainians driven from their homes since the Russian invasion eight months ago at around 14 million. It is the fastest, largest displacement witnessed in decades, said Filippo Grandi, who heads the United Nations High Commissioner for Refugees. In announcing that Russia would rejoin the grain pact, President Vladimir Putin said Moscow had received assurances that Ukraine would not use the humanitarian corridors to attack Russian forces. He warned that Russia reserves the right to withdraw again if Kyiv breaks its word. Putin praised Turkey's mediation efforts to get the deal back on track, as well as Turkish President Recep Tayyip Erdogan's neutrality in the conflict as a whole and his efforts at ensuring the interest of the poorest countries. Ukrainian President Volodymyr Zelenskyy said he also

Centre slashes windfall tax on domestic crude oil, increases on ATF export

At its seventh fortnightly review, the government hiked the tax on the export of ATF to Rs 5 per litre from Rs 3.50

Under scanner: Special mechanism for sharing trade data in the works

CBIC come across 12-13 cases of import-export data leaks to dark web

US suggests EU consider using export controls to target China: Report

The conversations came up as European Union and US officials are negotiating the agenda for their next high-level trade forum in early December.

Russia says it will suspend UN-brokered Ukraine grain export deal

The Russian Defense Ministry said Saturday that Moscow has moved to suspend its implementation of a UN-brokered grain export deal which has seen more than 9 million tons of grain exported from Ukraine and brought down global food prices. The ministry cited an alleged Ukrainian drone attack against Russia's Black Sea Fleet ships moored off the coast of occupied Crimea, which Russia says took place in early Saturday, as the reason for the move. Ukraine has denied the attack. The Russian declaration came one day after U.N. chief Antonio Guterres urged Russia and Ukraine to renew the deal. Guterres also urged other countries, mainly in the West, to expedite the removal of obstacles blocking Russian grain and fertilizer exports. The U.N. chief underlined the urgency of renewing the deal brokered by the United Nations and Turkey in July, which expires on Nov. 19, to contribute to food security across the world, and to cushion the suffering that this global cost-of-living crisis is ...