The World Trade Organization (WTO) set up panels to rule on complaints by Australia, Brazil and Guatemala against India’s export subsidies for sugar and sugarcane producers which they assert are illegal, Reuters reported. Last month, India had blocked the first-time request from Australia, Brazil and Guatemala for establishing the panel. But the three complainants made […]
Indonesia is weighing whether to advance the timeline for a planned ban on exports of mineral ores, the country’s trade minister said a day after nickel prices surged on speculation the Southeast Asian nation will halt shipments, Reuters reports. President Joko Widodo is gathering input from the Ministry of Energy and Mineral Resources about the […]
Vedanta Ltd. aims to increase its aluminium exports at a time imports comprise 58 per cent of India’s consumption of the metal at the end of FY19, reports Business Standard. Vedanta, India’s top aluminium producer, in this fiscal year aims to ship more than half of its production volume to international markets. At the end of […]
The government has fixed an export quota of 10,000 tonne of white/raw sugar to the European Union (EU) under a provision for a 12-month period beginning October. The Director General of Foreign Trade (DGFT) has said it has allocated the “quantity of 10,000 tonne of sugar (raw and/or white) to be exported to the EU […]
Indonesian mining ministry authorities have announced that they would enforce a total ban on the export of raw ore exports by 2022 to make miners process minerals in the country, says a report from Reuters. Based on a 2017 mining regulation, Indonesia is due to stop allowing the export of unprocessed ore starting Jan. 12, […]
The government has permitted export of 1,239 tonnes raw sugar under its tariff-rate quota (TRQ) to the US, which enables shipments to enjoy relatively low tariff. TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. After the quota is reached, a higher tariff applies on additional imports. […]
Gem and jewellery exports declined 16.26 per cent to $2,826 million during June 2019 from $3,375.17 million during the same month last year. Exports during the first quarter of FY20 declined by 10.38 per cent to $9.18 billion from $10.25 billion during the same period last year. Experts say that the trend seen in first quarter is […]
India’s merchandise exports contracted for the first time in nine months in June while imports shrank first time in four months. India’s trade deficit for June 2019 narrowed by 7.98 per cent to USD 15.28 billion as against the deficit of USD 16.60 billion in June 2018, government data showed. Data released by the commerce […]
The International Coffee Organisation (ICO) in its coffee market report, said that the composite price of coffee averaged US $99.97 cents/lb (0.45kg) in June 2019, 7.1 per cent higher than in May 2019. According to the report, that was the first increase in the monthly average since January 2019, when prices rose by 0.9 per […]
Gross exports of gems and jewellery declined sharply by 12.85 per cent to $3.17 billion in May 2019 from $3.64 billiion a year ago. This is one of the sharpest falls, and it comes at a time when the industry was hoping for some recovery and a softer approach towards funding on the part of banks. Combined […]
