The Union Ministry of Finance has issued a notification announcing a sharp increase in duty drawback rates for gold and silver jewellery effective 16 November, 2019, in a move that is expected to make exports more viable for those who opt for drawback route. The drawback has been raised from Rs 272 to Rs 372.9 per gram […]
India’s soybean meal exports in oil year 2019-20 is estimated at 10 lakh tonness, 11.8 lakh tonness lower as compared to last years’ shipment of 21.79 lakh tonnes, according to the Soybean Processors Association of India (SOPA). In addition to a lower crop yield, lack of clarity in continuation of the incentive under the MEIS […]
India’s sputtering economy is turning the energy-hungry nation into an unlikely source of diesel exports, reports Bloomberg. The industrial fuel is the lifeblood of Indian manufacturing, transport and agriculture, making it the country’s most-consumed petroleum product. But five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since […]
India exported organic products worth Rs 5,151 crore in 2018-19, against Rs 3,453 crore in the previous year, registering an increase of about 49%, PTI reported, citing data from the Agricultural and Processed Food Products Export Development Authority (APEDA). “India produced around 2.67 million tonnes (2018-19) of certified organic products which include all varieties of […]
India’s gross exports of gems and jewellery sector are expected to decline 5-7 per cent in FY20 as compared to the previous financial year, on account of global downturn and rise in gold prices which has affected domestic demand. As per the Gems and Jewellery Export Promotion Council (GJEPC), net exports of the sector declined 5.32 per cent to […]
With export deals signed for some 1.5 lakh tonne of sugar at the start of the season, the Maharashtra State Cooperative Sugar Millers Federation has urged millers in the state to export as much sugar as possible in the upcoming season of 2019-20. The National Federation of Cooperative Sugar Mills, too, has been advocating sugar […]
India exported 12.51 lakh tonnes of oilmeal during the first six month period of 2019-20 financial year, declined 17% from 14.99 lakh tonnes reported in the same period last year, as per the data compiled by the Solvent Extractors’ Association of India (SEA). According to the data, the sharpest fall is seen in the soybean […]
After a sharp decline over recent quarters, prices of crude palm oil (CPO) are set to rise sharply in the quarter ending December. This is due to a forecast of decline in production and expectation of a revival in biodiesel demand in Indonesia, one of the largest producers. CPO prices on the benchmark Bursa Malaysia fell around […]
The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry. “Advance Authorisation shall not be issued where items of export are gold medallions and coins or any jewellery/articles manufactured by fully mechanised process,” the Directorate General of Foreign […]
Indian rice export prices slipped this week as demand from Africa remained sluggish. Prices of 5% broken parboiled variety in top exporter India were quoted at around $371-$375 per tonne this week, down from $373-$379 a week ago, Reuters reported. India’s rice exports plunged 26.5% in April-July from a year ago to 3.14 million tonnes, […]
