Soyameal exports have risen 174 per cent to 13.78 lakh tonnes (lt) during the October-April period of the current oil year to September compared with 5.03 lt in the year-ago period.

 

Higher demand from consuming countries such as Vietnam and Bangladesh among others resulted in rise in shipments during the period.

 

Offtake from the domestic feed sector was up at around 12 per cent at 38 lt during the period against 34 lt a year ago. However, the food sector demand was higher at around 24 per cent at 5.75 lt (4.65 lt) during the period.

 

Crushing projections

Crushing activity during the period gained momentum with the production of the meal rising by around 47 per cent to 57.43 lt (39.11 lt). The market arrivals of soyabean also improved to 84 lt (66 lakh tonnes), despite a bearish trend in the edible oils segment.

 

'Looking to the processing and exports, we have revised upwards the soybean crushing projections for oil year to 105 lt from 100 lt. Similarly, the estimated export of soybean meal through sea and land routes has also been revised upwards to 17 lt from earlier 14 lt,' said D N Pathak, Executive Director, Soyabean Oil Processors Association of India (SOPA), the apex trade body.

 

The upward revision in the projected exports follows the mid-term review of the estimates of soybean production for kharif 2022 which has placed the crop estimates higher at 124.1 lt from the earlier 120.3 lt.

 

SOPA estimated total import of soybean higher at 5 lt from its earlier projections of 2 lt. Further, SOPA estimates the stocks with the plants and traders at 64.88 lt at the beginning of May.

 

Vietnam has been the largest buyer of Indian soyameal at over 4.93 lt, followed by Bangladesh at over 2.17 lt. Vietnam accounted for about 36 per cent of the total Indian soyameal exports, so far.

 

Other major buyers of the Indian meal included Nepal at 89,528 tonnes, Thailand at 67,778 tonnes, Sri Lanka at 51,068 tonnes and the US at 47,678 tonnes.

Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal and Executive Vice-President of the European Commission responsible for an Economy that Works for People, and the European Commissioner for Trade, Mr. Valdis Dombrovskis emphasised on the need for expediting the ongoing India-EU FTA negotiations by finding convergence on all issues. This was discussed during the bilateral meeting between the leaders on the sidelines of the first Ministerial meeting of India-European Union Trade and Technology Council (TTC). The meeting was also attended by senior officials from both sides.

 

During the bilateral discussions the leaders recalled the long-standing partnership between the two sides and underlined the need to work together to deepen the association given their commitment to democracy and rule-based international systems. They emphasised the need for expediting the ongoing FTA negotiations by finding convergence on all issues after due consideration to mutual sensitivities including on market access for balanced and meaningful outcomes that would support the economies and employment on both sides.

 

Both sides also affirmed their commitment to work together on common priorities for WTO reforms including issues pertaining to dispute resolution mechanism, subsidies on agriculture and fisheries, ecommerce moratorium as well as domestic legislations. Both sides recognised the need to build on their common goals to pursue consensus-based solutions that would support the livelihoods and food security for millions in India as well as in large parts of the developing world. They expressed hope that their joint efforts would enable finding meaningful solutions in the upcoming WTO Ministerial Conference.

 

This meeting was followed by a meeting of the Working Group 3 Stakeholders co-chaired by Mr. Piyush Goyal and Mr. Valdis Dombrovskis. The meeting included stakeholders representing India and the EU. Working Group 3 focuses on Trade, Investment and Resilient Supply Chains. The EU side had representatives from major European industrial bodies including Business Europe, Digital Europe, Food Drinks Europe, Copa-Cogeca, EFPIA and ACEA. The delegation of Indian business leaders attending the meeting in person represented sectors including Chemicals, metals, textiles, digital infrastructure, and steel while representatives of other sectors like agri-food industry, marine/logistics were present in virtual mode.

 

The first meeting of the India-EU Trade and Technology Council (TTC) in Brussels marks a significant milestone in the strategic partnership between India and the European Union due to its focus on critical domains, External Affairs Minister S. Jaishankar said on Tuesday.

 

The meeting, co-chaired on the Indian side by the EAM, Commerce and Industry Minister Piyush Goyal and Communications, Electronics and IT Minister Rajeev Chandrasekhar, covered key focus areas of strategic technologies, digital governance and green energy technologies. The EAM highlighted that India has a crucial role to play in all aspects and also with regard to its impact on the global talent pool.

 

This first meeting of the Trade and Technology Council is a significant milestone in the strategic partnership between India and the European Union, Jaishankar said in his address.

 

We are obviously important partners for each other but what the TTC represents is a focus on key domains that are critical to both the global economy and global security. Today the challenge is to address simultaneously the dual requirements of responsible growth and de-risking global economy. This means promoting resilient and reliable supply chains and additional drivers of global production and growth, he said.

 

The minister stressed on the importance of ensuring trust and transparency in the digital domain, including cross-border flows, which would involve embracing low-carbon growth while ensuring that this did not create critical vulnerabilities.

 

In each of the focus areas of the TTC strategic technologies, digital governance and connectivity, clean and green energy technologies, and resilient value chains, India has experiences to share in terms of innovation, production and deployment. We are also an important factor in regard to the global talent pool that has been discussed this morning, he noted.

 

It is our expectation that TTC would become the crucial platform for the exchanges in this regard so that we arrive at both policy and business decisions in the relevant domains, he added.

 

The TTC was launched by Prime Minister Narendra Modi and the President of the European Commission, Ursula von der Leyen, during her visit to India in April last year.

 

It led to the creation of three Working Groups under the TTC: Working Group on Strategic Technologies, Digital Governance and Digital Connectivity; Working Group on Green and Clean Energy Technologies; and Working Group on Trade, Investment and Resilient Value Chains.

 

'Began the day in Brussels with a Digital & Clean Energy Stakeholder Event. Thank European Commission Executive VP @vestager for convening the meeting. In this Techade, TTC can promote Trusted Collaboration so essential to Re-Globalisation. Stakeholders are key to delivery,' Jaishankar tweeted earlier on Tuesday.

 

With Belgium, the EAM concludes a three-nation tour which began in Bangladesh last week and also covered Sweden for the EU Indo-Pacific Ministerial Forum (EIPMF) in Stockholm.

The closing ceremony of the four-day long Uttarakhand Shree Anna (Millets) Festival took place today in Dehradun under the chief hospitality of the Union Agriculture and Farmers’ Welfare Minister, Shri Narendra Singh Tomar. Shri Tomar said that Shree Anna has only benefits, especially our small farmers are greatly benefited by it. With the increase in their income from Shree Anna, the country's economy will get a boost.

 

Union Minister Shri Tomar said that consumption of Shree Anna is the means to stay healthy. Shree Anna is full of nutrition, which costs less to the farmers to grow, it does not require fertilizer, it can be cultivated easily even in low rainfall. In order to increase the income of small farmers, to keep people healthy and to give a respectable place to food grains in the country and the world, Prime Minister Shri Narendra Modi proposed it on the global stage through the United Nations, which was supported by 72 countries and the UN declared 2023 as the International Year of Millets. The importance of Shri Anna is being spread through this year's event under the guidance of Prime Minister Shri Modi. Agri-startups will increase with Shree Anna, employment opportunities will increase, production and productivity will increase, as well as processing and exports will also increase, which will boost the country's economy. Thus, Shree Anna has many dimensions.

 

Shri Tomar said that Prime Minister Shri. Modi has a vision to bring a radical change in the standard of living of the poor including making toilets in their homes, providing electricity, building Pradhanmantri Awas, progress of poor women through self-help groups. The country's economy should increase, development should increase, industries should increase, Make in India, Startup India, Skill India and our country should not only be powerful, but should become such a superpower that people are forced to accept India's iron in the whole world. This type of multidimensional thinking belongs to the Prime Minister. Shri Tomar said that as a result of Prime Minister's efficiency, vision and hard work, India's reputation is increasing in the whole world. Regardless of whether someone agrees with us or not, when it is discussed on any global platform, when it comes to the economy, then the economists of the world are forced to say that in the coming tomorrow, the world is going to move forward rapidly. If there is any economy, then it is India. It is a matter of great fortune and pride for us.

 

Shri Tomar said that the Prime Minister has left no stone unturned to make the specialty of India to the specialty of the world. Yoga is the ancient method of India, which was gradually becoming extinct, which Swami Ramdev campaigned to make it a place in every house, while Prime Minister Shri Modi propounded the characteristics of Yoga in the United Nations and urged the whole world to celebrate Yoga Day, through which the Indian Yoga style has resonated all over the world today. Yoga is necessary to stay healthy. Mr. Tomar said that ever since the formation of the government at the Center under the leadership of Mr. Modi, he has consistently given priority to the agriculture sector. In the year 2014, the budget of agriculture was about 21 thousand crore rupees, which has increased about 1.25 lakh crore rupees today. That is, there has been an increase of more than five times. For income support to small farmers, the Center has deposited Rs 2.40 lakh crore in the bank accounts of crores of farmers through the PM-Kisan scheme. Similarly, the Ministry of Agriculture has taken steps and increased the allocation of funds in every direction, including the protection cover for the farmers insured by the Pradhan Mantri Fasal Bima Yojana, increase in food grain productivity, emphasis on organic and natural farming. Shri Tomar said that the Devbhoomi of Uttarakhand covered with diverse climate is very favorable for agriculture. For the last five years, the Government of Uttarakhand is playing a leading role in the proper implementation of the schemes of the Ministry of Agriculture in Uttarakhand and in making their benefits available to the farmers. May Uttarakhand move forward in every field of agriculture, wherever the central government is needed, the Government of India including the Prime Minister will always stand shoulder to shoulder with the Devbhoomi.

During his two-day visit to Brussels to attend the first Ministerial meeting of India-European Union Trade and Technology Council (TTC), Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Sh. Piyush Goyal was invited to attend the business meeting organised by Federation of Enterprises in Belgium (FEB). The meeting was held at the Federation office wherein the Minister delivered a Keynote address.

 

The meeting was attended by more than 28 business delegates from the Belgium side along with six members of the Indian business delegation. Mr. Rene Branders, President of FEB gave the welcome remarks and the meeting was moderated by Mr Pieter Timmermans, CEO of FEB. In his keynote address, Sh. Goyal emphasised India’s 10x+ growth potential in the next 25 years which would reinforce its position as the fastest growing large economy, focus on 4Ts of Trade, Technology, Tourism and Talent, its ambitious mission for sustainability and renewable energy which is evidenced by its performance of achieving Paris targets in 2021 itself – 9 years ahead of schedule, etc.

 

This was followed by roundtable discussions which included testimonials from Belgium enterprises which are present and operating in India, testimonials from Indian and foreign companies present in Belgium and remarks from business organisations present during the meeting. The issues discussed during the roundtable include tariff and duties, protection of IPR, investments, need for regulations in waste management sector, reducing regulatory compliances, zero carbon technology and green financing, off-shore wind systems, etc.

 

In response to the round table discussion, Sh. Goyal under scored that there must be a level playing field for both the developed and emerging economies while addressing the global challenges such as climate issues. While India is committed to achieve its targets of net zero emissions, there should be meaningful contribution by all concerned and that commitments made under the Paris agreement must be adhered to by all countries. He also expressed hope that that the mechanism of India EU Trade and Technology Council (TTC) could emerge as an effective platform for finding solutions to these challenges. The Minister also noted that Indian and EU share several common concerns with respect to WTO issues where their positions are largely aligned and therefore, through their collective efforts, could jointly contribute to find consensus-based solutions in the upcoming WTO Ministerial Conference.

Through the initiative of the North Eastern Regional Agricultural Marketing Corporation (NERAMAC), the Tripura Queen pineapple has got a geographical indication tag, along with 12 other fruits and vegetables of the Northeast.

 

Besides Queen pineapple of Tripura, Arunachal Orange, Mizo Chilli, Kachai Lemon, Khasi Mandarin, Tezpur Litchi, Sikkim Large Cardamom, Karbi Anglong Ginger, Naga Tree Tomato, ‘Chak-Hao’ Black Rice, Memang Narang, Dalle Khursani and Naga Sweet Cucumber have also got the GI tag.

 

The Tripura government plans to open an auction market for pineapples in New Delhi, the harvesting of which will be started in a week. The pineapple used to sell at Rs 1-2 per piece and during peak season pineapples were dumped on the street, as there were no buyers.

Two varieties of brinjals grown in Nababgunj and Ashapur in Malda are vying for the prestigious Geographical Indication (GI) tag. This year, the West Bengal National University of Juridical Sciences (WBNUJS) requested for GI tag for 11 goods, including these Malda vegetables. These brinjals are already well-known in the area for their distinct flavour and quality and are cultivated solely in the district for topographical reasons.

 

Samanta Layek, deputy director of district Horticulture department, said: 'This year, the WBNUJS applied to tag 11 goods, including the brinjals of Nababgunj and Ashapur. If the brinjals are awarded the tag, the district’s agriculture may do better in the future.'

 

The vegetable’s brand value is expected to rise after it receives the tag. Once these species have earned GI recognition, efforts will be made to preserve and promote them.

 

The brinjals are popular among the people of Malda, specially in winter when these varieties are available in the market.

 

Nababgunj brinjals are comparable to the size of a calabash and become extremely soft after frying, cooking, or baking. The round-shaped Ashapur brinjals have a distinct flavour and are popular in Malda and neighbouring regions.

 

WBNUJS is taking steps to protect and commercialise many of the state’s heritage items.

 

Malda is well-known for its mango and silk, and efforts are currently being undertaken to obtain GI tags for other products from the district.

India’s overall exports in the just concluded financial year 2022-2023 were worth USD 775.87 billion, a growth of over 14 per cent and almost USD 100 billion more than last year’s figures, official data released by commerce ministry showed on Monday. In 2021-22, the overall exports were at USD 676.53 billion.

 

In 2022-23, India’s merchandise and services exports rose 6.74 per cent and 27.86 per cent to USD 450.43 billion and USD 325.44 billion, respectively.

 

Among various steps the government took was to launch a Production Linked Incentive (PLI) scheme in varied sectors, including electronic goods, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. These seemed to have reaped dividends.

 

Coming to April 2023-24, overall exports were a little higher year-on-year at USD 65.02 billion, up from USD 63.75 billion in the same month last year.

 

India’s merchandise imports in April declined by 14 per cent to USD 49.90 billion as against USD 58.06 billion. April’s merchandise imports were the lowest in the last 21 months.

 

India’s imports from China in April were 5.56 per cent lower at USD 7.5 billion.

 

Similarly, imports declined from UAE, USA, and Saudi Arabia. The decline from these Middle east countries is mainly on account of cooling crude oil prices.

Union Agriculture Minister Narendra Singh Tomar on Monday said there was a need to accord top priority on the farming sector in the country.

 

He said India, in the context of G20 Summit, focused on ‘One family One earth and One future.’ He reiterated that the farmers helped feed the entire globe. 'Agriculture is the backbone of our country and it is the priority sector.'

 

The Centre supported the establishment of startups and training centres that focussed on strengthening Indian agricultural research. It also focussed on Krishi Vignana Kendras (KVK) and Extension Education Institute (EEIs) to develop master trainers in agriculture, said Mr. Tomar after inaugurating the Golden Jubilee Auditorium at the EEI in Professor Jayashankar Telangana State Agriculture University (PJTSAU) at Rajendranagar, along with State Agriculture Minister S. Niranjan Reddy.

 

The auditorium was constructed by the Indian Council for Agriculture Research (ICAR) to train officials of agriculture and allies fields from South Indian states.

 

Mr. Niranjan Reddy said that with India having an agriculture-based economy, both the State and the Centre must focus on the sector. He said the State was able to complete the Kaleshwaram Lift Irrigation Scheme (KLIS), which would irrigate about 45 lakh acres. Similarly, about 46,000 tanks and kuntas were restored by the government. 'In addition to providing round-the-clock power supply to farmers, we are also offering Rytu Bandhu and Rytu Beema schemes,' said Mr. Niranjan Reddy explaining the initiatives of the State government.

 

Later in the day, both Mr. Tomar and Mr. Niranjan Reddy reviewed the arrangements for the G20 meet, which would be held at Hyderabad International Convention Centre (HICC) from June 15th to 17. G20 member countries will hold discussions on nutritional food security and climate change during the three-day meeting.

 

Mr. Niranjan Reddy said Telangana was selected for the subject related to agriculture as it was tops in the field, could follow crop change and used the latest technologies for its advantage.

 

Union agriculture secretary Manoj Ahuja, State additional DG Abhilash Bist, State agriculture secretary Raghunandan Rao and others participated in the review.