Soybean Processors Association of India (SOPA) has estimated exports of soyabean meal from India in the oil year 2022-2023 to touch 14 lakh tonne, higher than the last year.

 

The oil year 2022-2023 began in October 2022 and will end in September 2023.

 

SOPA executive director DN Pathak said, 'We expect to achieve slightly better exports in soybean meal in the oil year 2022-23 at 14 lakh ton.' A jump in demand from South East Asian buyers has pushed exports of soyabean meal from India, said exporters. Vietnam, Sri Lanka, Nepal and Bangladesh have emerged as major buyers for Indian origin soyabean meal.

 

Madhya Pradesh is a leading soyabean producing state contributing over 70 per cent to total national output.

 

Soyabean meal exports during October to March stood at 9.9 lakh ton. Exports of soyabean meal in the corresponding period last year were 4.7 lakh ton, according to data compiled by SPOA. In March, soyabean meal exports were 2 lakh ton as against 48,000 ton in the same period a year ago, SOPA said in a statement.

 

Arrivals of soyabean has declined in the spot market in March as compared to the previous month, the data showed.

 

Pathak said, 'Farmers have held back stocks due to a decline in soyabean prices and this has hit arrivals in the spot market in March. Soybean crushing was also lower than expected in March and demand for soybean food products also saw a drop.'

 

Exporters have estimated better bookings from overseas buyers for the ongoing season if soyabean prices remain stagnant in the spot market.

The International Association of Rice Bran Oil (IARBO), in association with the Solvent Extractors Association of India (SEA), will organise the seventh International Conference on Rice Bran Oil from April 21 to 23 in Hyderabad.

 

Focussing on the theme ‘Awesome rice bran oil for sustainable ecosystem’, the three-day conference will explore avenues to tap the rice bran opportunity across the world.

 

Over 400 delegates, including those from rice bran oil-producing countries like China, Thailand, Japan, Pakistan, and Bangladesh, will attend the conference.

 

'The conference will discuss the latest research on rice bran oil and value-added products. It will also discuss country-specific challenges, if any, in exploring opportunities in this space,' BV Mehta, Secretary-General of IABRO and Executive Director of SEA India, said.

 

Addressing a press conference here on Tuesday, he said the conference would promote interaction between rice bran producers, industry groups, academic researchers, and local governments.

 

Ajay Jhunjhunwala, President of SEA India, said it would be the second time for the country to host the conference. 

 

RBN Prasad, a former Chief Scientist with the Indian Institute of Chemical Technology (IICT), wanted the conference to establish the international scientific standard of rice bran oil and value-added products derived from the oil.

 

P Chandra Shekhara Reddy, Joint Convener of the Conference and Senior Vice-President (Sales and Marketing) of Gemini Edibles and Fats India, said rice bran oil is stable at high temperatures, making it an ideal choice for Indian way of cooking.  

The Gujarat government has taken up an exercise to formulate a policy to boost exports from the state. The state policy, which will adopt features of the Union government's recently announced Foreign Trade Policy (FTP), will among other things, incentivize goods and products which have export potential.

 

A state-level export promotion authority will shortly be formed, whose functioning will be monitored by a high-level committee headed by the chief secretary. Similarly, export promotion committees will also be formed in each of the districts of Gujarat.

 

'An action plan will be prepared for boosting exports from the state. Each district also will have its own action plan for boosting exports. The potential for exports from each district will be worked out and the state government is considering appropriate incentivization for goods and products that have export potential,' state minister for industries, Balvantsinh Rajput said.

 

The minister added that the state government's policy will be modelled on lines of the Union government's trade promotion policy. 

'Incentives that the Union government has offered, along with the state government's incentives, will be provided to give a boost to exports,' Rajput said.

 

The FT of the Union government has laid stress on developing districts as export hubs by setting up district export promotion committees and drawing up district export action plans for every district. The Union government policy also has asked states and Union territories to set up state-level export promotion committees and ensure online monitoring of all district-level export action plans.

 

'This decentralized and focused approach will shift the focus on district-led export growth for self-sufficiency and self-reliance by providing global platform to products and services from districts,' says chapter 3 of the FTP, 2023, which envisages districts as export hubs.

 

The most exported goods from Gujarat include petroleum products, organic and inorganic chemicals, gems and jewellery, engineering goods and the like.

 

Under the 'Districts as Export Hubs Initiative' (DEH), products and services with export potential, including agricultural and industrial products, have been identified in all 33 districts of Gujarat, government sources said.

Jordan's state grains buyer purchased about 60,000 tonnes of hard milling wheat to be sourced from optional origins in an international tender which closed on Tuesday, traders said.

 

It was bought from trading house CHS at an estimated $303.30 a tonne c&f for shipment in the second half of September, they said.

 

Traders said these other trading houses participated in the tender (with their estimated offers in dollars per tonne c&f): Ameropa $306.49, Buildcom $309.77, Farm Sense $315, Cargill $309.95, Viterra $317.50 and Agro Chirnogi $326.

 

Traders expected a new wheat tender to be issued in coming days closing on Aug. 18 seeking shipment in October and the first half of November.

The food authority has replaced the standards for wheat flour (atta) and resultant wheat flour (resultant atta) through the Food Safety and Standards (Food Products Standards and Food Additives) Second Amendment Regulations, 2023, which shall come into force from September 1, 2023.

 

According to the notified regulations 'Wheat Flour (Atta)' means the product obtained exclusively by milling or grinding of clean wheat, and 'Resultant Wheat Flour (Resultant Atta)' means the product obtained by blending of various fractions in roller mills after separating semolina or maida during the processing of wheat.

 

The regulations also specify the parameters for the wheat flour (atta) or resultant wheat flour (resultant atta) which include moisture, % by mass, not more than 14.0, total ash, % by mass (on dry basis), not more than 2.0, ash insoluble in dilute HCL, % on dry mass basis, not more than 0.15, gluten, % on dry mass basis, not less than 6.0, alcoholic acidity (with 90 per cent alcohol) expressed as H2SO4, % on dry mass basis, not more than 0.18, crude fibre, % on dry mass basis, not more than 2.5, granularity not less than 98 per cent by mass of that material shall pass through 500 micron I.S. sieve (35 mesh) and uric acid (not more than) 100 mg/kg.

 

The regulation also lays down that the parameter ‘Granularity’ shall not be applicable for intermediate products which are not meant for direct consumption.

The central government has scrapped export duty of 20% on rice of seed quality in the husk (paddy or rough).

 

Officials said the duty was scrapped after review of rice stocks. The exemption will be effective from April 11.

 

The centre in September, 2022 had imposed an export duty of 20% on Rice in Husk (Paddy or Rough), Husked (Brown Rice) and Semi-milled or Wholly milled Rice.

 

This was done to lower prices of rice and to make stocks available for the domestic market.

 

The measures did not affect export of basmati or parboiled rice.

 

Finance Ministry had said that changes in India’s rice-export rules have helped keep a check on domestic prices without reducing the availability for exports.

Indonesia will import two million tonnes of rice by the end of this year to deal with the impending drought caused by El Nino, said Indonesian President Joko Widodo had announced.

 

Rice imports aim to keep the State Logistics Agency's stockpiles and stabilize domestic prices because El Nino will cause a protracted drought and affect the country's rice production, Widodo said after planting rice in East Java province.

 

Head of the National Food Agency, Arief Prasetyo, said the first batch of rice imports will be up to 500,000 tons and be sent as soon as feasible.

 

The harvest of rice from March to May is a priority (for rice supply), Prasetyo added, but it is not enough to meet the needs of a population of over 270 million.

 

The South-East Asian country imported about 400,000 tons of rice in 2021 and 320,000 tons in 2022, according to Statistics Indonesia.

India's Finance Minister Nirmala Sitharaman on Tuesday said that the country wasn't lookin to reverse the benefits of globalization, but wants it to be more transparent.

 

'It's not to say that we have to reverse the benefits of globalization. It is more to say, make globalization more transparent,' Sitharaman told American think-tank Peterson Institute for International Economics in response to a question.

 

Sitharaman is in Washington for a week, starting Tuesday, attending spring meetings and a G20 finance ministers' meet.

 

'We have a big play. We also don't import final consumer goods, which we are capable of manufacturing. However, when you have price discrepancies or price competitiveness affecting your purchasing decisions, you end up buying those which you can produce because they come at a far more, cheaper rate,' Sitharaman said.

 

The Finance Minister also talked of India's manufacturing prowess and the need for the country to battle cheap imports.

 

'So, Indians have always had this difficulty in having to come back to producing certain things which are your day-to-day domestic necessities, but you are unable to produce because you find cheaper imports coming or the very same requirement. But now we've seen that there is an opportunity which lies, one from the consumer point of view, that even within India, there's enough purchasing power. And many of these goods which can be produced in India will have a definitive large consumer base within the country,' the Finance Minister said.

 

'The phase manufacturing programmes that we have come up with, have identified several such goods, which at the first stage, we would gradually incentivize producing and selling within India, then move over to a higher level of sophistication in the making of such goods. So, the domestic market itself is available for you to produce, gradually stop imports of such things which you can produce yourselves,' she added.

 

However, this is only one side of the story, according to Sitharaman, pointing out that the country will have to prioritise production.

 

'The other side is where you need to have value chains come to India, come and produce in India, not just for India, but to export from India, for which again, we have come up with a production-linked incentive scheme, particularly in 13 such areas, which are priority sectors, sunrise sectors, where India didn't produce at all earlier'.

 

By doing that, India hopes to have production of many of these large bulk manufactured goods, which can go from India to meet demands which exist outside, and also of course to meet domestic demand.

 

Mobile manufacturing is a classic example, she noted.

 

Goods which are largely consumed in India are going to be manufactured in India despite a very, very predatory pricing, which prevails in some export countries in some export markets. 'So we are stopping that by giving the face manufacturing and we are incentivizing through the PLA,' she said.

 

The finance minister said even as one wants to incentivize India's own production, there can always be some collateral, but it has to be very smartly tailored to make sure that India's unique demands can be met by its own manufacturing. 'But at the same time, you need to get your raw materials and intermediaries which otherwise you do not have. So, it's not as if you're going to be so blindfolded to see that you'll just take a decision and it'll have no impact whatsoever outside,' she said.

 

'It can't be so. It'll have an impact. We have to assess each for itself and take a call. But however, I don't think India's alone in doing this, particularly after, let's say the global view of China after, let's say the pandemic after also this changing perspective of what indeed is globalization, how far globalization, to what extent globalization. So, when all these questions are happening and being discussed all over the world, India cannot be in isolation,' the minister said.

 

'So, if that's going to, the discussions elsewhere are going to have some impact. So, we will have in India as well. It indicates to a dynamic position globally on globalization itself, and also looking at how just tariff is not going to be one way of controlling or preserving your capacities in manufacturing. So it is a strand, I suppose, in a larger debate of how the global trade will have to happen,' she said.

 

Responding to a question, she said, India has shown very clearly, its initiative is working out well in pursuing with countries and agreeing to have Free Trade Agreements (FTA) with them.

 

Free trade agreements are being signed, in fact far speedy nowadays, she said in response to a question. 'We have just concluded one with Australia. We've concluded earlier, one with the UAE, Mauritius, and as it is, we've, had agreements with ASEAN, both in goods and services. We have with S Korea, with Japan. So free trade agreements have bilaterally or with multilateral groups, been the route which India has had till before 2014,' she said.

 

'And now between 2019 and today, we've had at least three major agreements signed. So, we shall proceed in that route. Also with the United Kingdom, with the European Union and with Canada. All the three are happening now as we speak, the negotiations are going on. So, we shall go in those preferential route,' she said, but remained uncommitted on plurilateral agreements.

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal said that France and India have truly been friends, partners and vibrant democracies working for global good during his address at the India-France Business Summit in Paris, France today.

 

He said that H. E. Emmanuel Macron, President of the French Republic and Prime Minister Shri Narendra Modi have strengthened the strategic partnership between the two countries which has completed 25 years now. The Minister said that both the leaders have taken India-France ties to the next level with expanded engagement in trade, technology, tourism and investment. He noted that the friendship between the leaders and the people of both the countries is a force multiplier for global good.

 

The Minister said that India and France are concerned for stable global economic order and both believe in consensus and cooperation both at regional and global level. He said that the business leaders from both countries and the Indian community in France have further strengthened this bond of friendship and trust between India and France through their relentless efforts to grow the trade and economic partnership.

 

He appreciated that the industry leaders from various areas of manufacturing and services sector from India attended the Business Summit. The Minister said that the industry leaders from India will share their experiences of working and growing in an economy which is growing rapidly, expanding both in the domestic and international sphere.

 

The Minister said that India’s potential over the next 25 years has been termed as the Amrit Kaal or the golden era of India by the Prime Minister Shri Narendra Modi. He said that there is a huge delta of opportunities which has never been seen in global economic history in India now. He cited the example of India’s demographic dividend with significant managerial and technological skills and immense talentpool.

 

The Minister said that the basic needs of Indian citizens have been taken care of in the last 9 years and that has led to an empowered nation brimming with aspirations. He said that seamless digital connectivity has aided this process and now India offers a huge opportunity to businesses around the world. He said that India offers Scale, Speed and Skills to the world.

 

The Minister said that India is rapidly expanding its international engagement and the goods and services exports over the last 2 years have grown significantly. He said the increase in exports is expected to continue on its high growth trajectory. He also said that India has an infrastructure pipeline to strengthen logistics in the country. He said that India is attracting investment and technology in the defence sector from around the world as indigenous manufacturing is being promoted.

 

He said that innovation and technology are driving growth in India with sustainability at the core. He said that the green economy is emerging as a massive thrust area for technology and investments. The Minister noted that in addition to this the government is also focussing on gender parity and gender equality in India.

 

The Minister said that India and France will continue their dialogue at an accelerated pace with trade and investment expanding manifold to further aid the development journey. He quoted the Prime Minister Shri Narendra Modi and said that 'When you associate with India’s growth journey, India gives you the guarantee of growth…'

APEDA Chairman pointed out that Telangana is one of the main millet producing States and that 2023 has been declared as 'International Year of Millets'.

 

He also encouraged exporters to promote unique products from the region such as 'Neera', 'palm fruits', 'jaggery' and 'honey' as well as 'Banganapalli mango' and 'natural and tribal products'.

 

The meeting was attended by exporters of cereals and millets, as well as those of processed food and fruits, and discussed issues, opportunities, and future strategies to increase the exports of Telangana.

 

APEDA is an agency of the Union Ministry for Commerce and Industry. The Chairman acknowledged the exporters' contribution and assured them of APEDA's support.

 

APEDA and other relevant agencies, including the DGT, the export inspection agency and the plant quarantine agency, were present, according to the release.

 

Rice, maize, soya bean, cotton, chillies, and turmeric are the main crops cultivated in Telngana. Mango, guava, oil palm, coconut, cashew, lemon, and other key horticultural crops are cultivated.