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04 Jan, 2024 News Image ODOP and Geographical Indicators are acting as effective tools in promoting traditional Indian products: Dr. Jaishankar.
The ‘Aatmanirbhar Bharat Utsav 2024’ was inaugurated by the Chief Guest, Union Minister of External Affairs, Dr. Subrahmanyam Jaishankar and Guest of Honour, Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal at Bharat Mandapam, New Delhi today. During the event, the Ministers gave the National One District One Product (ODOP) Awards 2023 to the winners.
 
While addressing during the inauguration ceremony, Shri Goyal said that the Government under the leadership of the Prime Minister, Shri Narendra Modi is working as one family for a better future for the 140 crore Indians. He lauded the ‘Aatmanirbhar Bharat Utsav 2024’ as representative of whole of the government approach that the Prime Minister has brought to the fore and which has been the hallmark of the government over the last 10 years.
 
Shri Piyush Goyal said that when India talks about economy, Indian ambition and target is not for small changes, the economy will reach the US$ 5 trillion target in a few years and will become the third largest GDP in the world by 2027. He said that this target can be achieved by 140 Crore Indians working as a team as per the Panch Pran of Amrit Kaal enunciated by the Prime Minister.
 
Dr. S. Jaishankar said that the ODOP initiative has the potential to drive the growth of the tourism sector which in turn will push employment generation. He added that while making in India is 'very' crucial, branding and promotion of products are important as it helps in increasing demand. He said that ODOP and Geographical Indicators (GI) are acting as effective tools in promoting traditional Indian products.
 
Dr. Jaishankar said that ODOP showcased India to the world at the various G20 events organized across the country during India’s G20 Presidency, where the ODOP artisans, sellers and weavers got a lot of visibility at the global stage during the events. He said that the government mainly gifts ODOP products to foreign delegates and this was widely done during the G20 events organized in India. He said that the Ministry of External Affairs and the Ministry of Commerce and Industry are working together along with Indian missions to boost the country's outbound shipments.
 
Secretary, Department for Promotion of Industry and Internal Trade, Shri Rajesh Kumar Singh; Secretary, Ministry of Textiles, Smt. Rachna Shah and Chairman and Managing Director, Indian Trade Promotion Organisation, Shri Pradeep Singh Kharola attended the inauguration ceremony.
 
Aatmanirbhar Bharat Utsav 2024 is being hosted by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. The ODOP Awards recognise the substantial efforts and successes in promoting the ODOP Initiative, bringing together Districts, States, and Indian Missions abroad to celebrate their contributions towards this innovative national endeavour.
 
The Aatmanirbhar Bharat Utsav and National ODOP Awards ceremony are a celebration of India's journey towards self-reliance, showcasing the nation's rich cultural heritage, diverse talents, and innovative spirit. The Aatmanirbhar Bharat Utsav 2024, taking place from 3rd to 10th January at Bharat Mandapam in New Delhi, is a dynamic event crafted to display India's economic strength and cultural richness. It is organized into various zones, each distinctively showcasing the nation's technological advancements and economic developments, alongside a colourful assortment of local products from different States and Union Territories. These zones collectively highlight the richness of India's heritage and its burgeoning entrepreneurial spirit.
 
The ODOP Awards edition for this year, garnered considerable interest, facilitated through the Rashtriya Puraskar Portal from 25th June to 31st July 2023. The overwhelming response, characterized by 580 applications from 535 districts, 26 States/UTs, and 19 Indian Missions Abroad, illustrated a nationwide dedication to promoting competitive spirit, encouraging innovative practices, and enhancing the quality of public service delivery. This enthusiastic participation signifies a collective commitment to the goals and ideals of the ODOP initiative.
 
The Ministers and dignitaries launched the ODOP compendium which is a testament to the work and efforts of States/UTs, Districts, and Indian Missions abroad, whose contributions are recognized and celebrated through the ODOP Awards, 2023. The profiles documented there in are the blueprints of resilience, adaptability, and visionary governance. They highlight the commitment of our local governments to embrace good governance and to replicate successful models across varied contexts. A digital launch of the next edition of the ODOP Awards 2024 was also released by the Ministers.
 
There are a total of 24 Awards across 3 categories – for Districts, States and Union Territories and Indian Missions Abroad which were received by their representatives at the ceremony. Indian Missions Abroad joined the ceremony virtually.
  1. List of Awardees for ODOP Awards 2023
    • Districts Awards (Agriculture)

Rank

District

State

Product

Award
  1.  

Alluri Sitharama Raju

Andhra Pradesh

Araku Coffee

Gold
  1.  

Uttarkashi

Uttarakhand

Red Rice

Silver
  1.  

Shopian

J&K

Apple

Bronze
  1.  

Kandhamal

Odisha

Turmeric

Bronze
  1.  

Bathinda

Punjab

Honey

Special Mention
  1.  

Burhanpur

Madhya Pradesh

Banana

Special Mention

 

  • Districts Awards (Non-Agriculture)

 

District

State

Product

Award
  1.  

Kakinada

Andhra Pradesh

Uppada Jamdani Saree

Gold
  1.  

Banda

Uttar Pradesh

Shazar Stone Craft

Silver
  1.  

Srikakulam

Andhra Pradesh

Ponduru Cotton Sarees

Bronze
  1.  

Kurnool

Andhra Pradesh

Handloom silk sarees

Bronze
  1.  

Annamayya

Andhra Pradesh

Madanapalle Silk Sarees

Special Mention
  1.  

Guntur

Andhra Pradesh

Mangalagiri handloom

Special Mention

 

  • States (Category A)

 

State

Award
  1.  

Uttar Pradesh

Gold
  1.  

Gujarat 

Silver

3.

Maharashtra 

Bronze

4.

Punjab

Bronze

5.

Rajasthan

Bronze

 

  • States (Category B)

Rank

State

Award
  1.  

J&K

Gold
  1.  

Uttarakhand  

Silver
  1.  

Meghalaya

Bronze
  1.  

Sikkim  

Bronze

 

  • Mission Aboard

Rank

State

Award
  1.  

Consulate General of India, Vancouver

Gold
  1.  

Consulate General of India, New York

Silver
  1.  

High Commission of India, Nicosia

Bronze
The ceremony represents a notable step in our nation's progress towards the 'Vocal for Local' initiative. It provides a platform for exchanging best practices and discussing strategies for the ODOP initiative's future. The event brought together senior government representatives from State and UT, District Administrations, and Indian Missions abroad, recognizing their important roles in this national effort.
 

 Source:  pib.gov.in
04 Jan, 2024 News Image We will maintain export figures of last year despite global slowdown: Goyal.
Commerce and Industry Minister Piyush Goyal on Wednesday exuded confidence that during this fiscal, the country will maintain the last year's export figures despite slowdown in global trade.
He said that India's exports of goods and services rose to USD 776 billion in 2022-23 from USD 500 billion two years ago.
'Globally growth has been negative, international trade is in the negative territory, estimates are that this year international trade may fall, and in that perspective after having grown so rapidly we are looking at a phase of consolidation...
'and I expect that the current year, we will maintain our figures of last year and strengthen our processes and our domestic capacities, capabilities to be able to grow at much faster rates in the years to come,' Goyal told reporters here.
Cumulatively, the country's merchandise exports in April-November 2023-24 contracted by 6.51 per cent to USD 278.8 billion. The estimated value of services export during the eight-month period stood at USD 220.66 billion.
He added that both the foreign affairs and commerce ministries are working together to boost exports.
Earlier, speaking at the Aatmanirbhar Bharat Utsav 2024 and ODOP Awards Ceremony 2023, he said that the the country is not 'anti-imports' and wherever required, companies can import goods.
'Aatmanirbhar Bharat is not about stopping imports,' he added.
Further he said that before the forthcoming general elections, the country's economy is expected to touch USD 4 trillion.
At the event, Goyal and External Affairs Minister S Jaishankar conferred the ODOP (One District One Product) awards onto the selected states, districts and Indian missions which led a drive towards fostering innovation and achieving excellence under this initiative.

 Source:  business-standard.com
03 Jan, 2024 News Image Cargo movement through inland waterways up 8%, cargo handled across major ports up 6% in April-Nov period.
Cargo movement through inland waterways for the April-November period is up around 8 per cent at 86.47 million tonnes (mt), while the cargo handled across India’s major ports is up 6 per cent odd at 500.83 mt. 
 
In the same period last year, cargo movement via inland waterways was 80.44 mt, while cargo handled through the 12 major ports was 475 mt, data available with the Ministry of Ports, Shipping and Waterways (MoPSW) shows. 
 
During this period, ports handled 15,285 vessels, up 8 per cent on the 14,171 vessels handled last year. 
 
The major domestic ports include Kolkata Port, which includes both the Kolkata and Haldia docks, Paradip, Vizag, Kamarajar Port, Chennai, Tuticorin, Cochin, New Mangaluru, Mormugao, Mumbai port, Jawaharlal Nehru Port Trust, and Gujarat’s Kandla Port
 
Improving Efficiency
 
The major ports saw a substantial improvement across parameters. For instance, the turnaround time for vessels at Indian ports improved by 6 per cent to about 48.46 hours (just about 2 days), as compared to 55.61 hours in April-November of 2022.
 
Turnaround time in the maritime industry refers to the duration it takes for a vessel to complete a round trip, from one point to another and return to its original location. It represents the time required for a ship to unload its cargo, load new cargo, perform the necessary operations, and be ready for its next voyage.
 
Similarly, idling at berth (as a percentage of total time at the berth) fell to 16 per cent -- down nearly 24 per cent -- in the 8M of FY24, as compared to 21 per cent in the year-ago-period. Idling at berth refers to the time the vessel remains idle, as compared to the total time it spends. Lower idle time means quicker completion of cargo handling, and readiness. 
 
The output per ship, per berth stood at 18,457 tonnes, up 7.71 per cent in the 8M of FY24, as compared to 17,127 mt in the same period in the last fiscal. 
 
The pre-berthing detention time of vessels (the time a ship waits before getting entry/ access to a berth) improved by 60 per cent, with the pre-berthing time dropping to 6.15 hours, as against 15.05 hours last year. 

 Source:  thehindubusinessline.com
03 Jan, 2024 News Image India exported USD158.85 mn worth oil in current fiscal.
India has exported 0.71 LMT of edible oil in the period of April to September in the current fiscal - 2023-24.
 
According to Ministry of Commerce, the value of the exported edible vegetable oil was 158.85 million USD.
 
However the import of vegetable oil witnessed a record high during the Apr-Sept period with 85.92 LMT import costing around 8508.76 million USD.
 
In the previous year, India imported 157.45 LMT of vegetable oil.
 
Meanwhile, the Government has told Parliament that to promote oilseed production, the Government annually announces Minimum Support Price (MSP) for 22 mandated agricultural crops including 07 oilseeds viz. Groundnut, Sunflower seed, Soybean, Sesamum, Nigerseed, Rapeseed & Mustard and Safflower.
 
The Ministry's statement reads that,  from 2018-19 onwards, the MSP has been announced at 1.5 times the cost of production to support the farmers and encourage production. Accordingly,
MSP for all crops including oilseeds is increased every year.
 
The Government was also working to augment the production area of these oilseeds through various interventions.

 Source:  fnbnews.com
03 Jan, 2024 News Image India plans linkage to Bangladesh s Matarbari port in regional connectivity push.
India is considering proposals to connect Bangladesh’s strategically important Matarbari port to northeastern states, according to people aware of the matter.
 
Bangladesh expects to boost exports once the country’s first deep sea port is built at Matarbari with assistance from Japan. The port will enhance exports to Southeast Asia, and other Asian markets, and improve its capability to handle cargo from international markets.
 
'The objective of the project is to strengthen the port’s cargo-handling capacity and to facilitate logistics operations with neighbouring countries. It will do so by constructing a multi-purpose deep-sea port for containers and general cargo in the Matarbari area of Cox’s Bazar, under Chattogram division, contributing to Bangladesh’s economic development,' said Japan International Cooperation Agency (JICA),which is helping finance the Matarbari project.
 
Earlier this year, JICA granted a $750 million loan to the Bangladesh government for the Matarbari development.
 
The port is set to start operations in 2027, easing the burden on crowded ports like Chittagong. In March, JICA extended an additional $400 million loan to boost road infrastructure between Chittagong Port and Cox’s Bazaar to improve road connectivity to the Matarbari port.
 
The Matarbari port is expected to enhance economic ties and open up development prospects for India’s northeastern states, including Tripura. The initiative follows plans by Japan, Bangladesh, and India to attract manufacturing to the Northeast and Bangladesh to establish a new industrial value chain in South Asia for exports to Indo-Pacific markets.
 
The people cited above said, India is actively exploring ways to enhance connectivity to Matarbari, either through a bilateral initiative or in partnership with Japan, which is engaged in major road connectivity projects in Bangladesh.
 
Queries mailed to the external affairs ministry, and Bangladesh high commission in New Delhi did not elicit any response till press time.
 
New Delhi is proactively advocating for enhanced connectivity with Bangladesh to boost bilateral trade and foster greater economic ties in South Asia.
 
Initiatives include the revival of cross-border railway projects, construction of energy pipelines, as well as sponsoring road projects in Bangladesh.
 
Additionally, India is also interested in the Bay of Bengal Northeast Industrial Value Chain concept championed by Japan, which will lead to increased infrastructure connectivity and synchronized trade policies among New Delhi, Dhaka, and Tokyo.
 
Besides, China’s growing footprint in Bangladesh has also been a major concern.
 
Beijing was initially interested in financing a deep sea port in Sonadia, in the south-eastern part of the country.
 
However, Sheikh Hasina’s government cancelled the plans in 2020, focusing on its ties with Japan to build a port at Matarbari.
 
News reports at the time indicated that New Delhi was opposed to the Sonadia port project.
 
India acknowledges that China will maintain a significant presence in its vicinity, and thereby the focus has shifted towards resolving disputes with neighbours and offering attractive connectivity and economic prospects to strengthen bilateral relations in the region.

 Source:  livemint.com
03 Jan, 2024 News Image Indian bakery industry to reach $21.2 bn by 2028.
Rapid urbanisation, rising disposable income, retail boom and the ever-evolving consumer tastes and preferences, are leading to phenomenal growth in the Indian bakery industry. According to a report by market research firm IMARC, the industry is expected to grow at a 10.8% to reach $21.2 billion by 2028, from $11.3 billion in 2022.
 
Changing consumer lifestyle is influencing the demand for ready-to-eat (RTE) and bakery products. India’s thriving e-commerce food-delivery platforms that offer convenience of doorstep delivery are further augmenting this market growth. Current trends also indicate that the industry’s growth trajectory has innovation at its core.
 
Some of the trends that are emerging in this space include:
 
Healthier indulgence
Consumers palette is now inclined towards taste, good mouthfeel, exotic flavours and texture. Postpandemic, consumers are opting for mindful, portion-controlled indulgences and nutritionally fortified snack solutions such as high fibre, high protein bakes like dry fruit cake, nutty cookies and so on. Increasing popularity for natural and plant-based ingredients in baking (natural sweeteners, trans-fat free) compared to traditional baked goods.
 
Many of these are unique products created especially for the Indian market, where there is a rise in demand for snacks that are healthier yet tastier and keeping in mind the needs and challenges of the domestic bakery industry.
 
Healthy Bakes
With consumers increasingly inclining towards healthy eating habits, the bakery industry is witnessing a demand for healthy and nutritious baked food items. Along with multigrain, whole wheat or brown bread, there’s demand for gluten-free bread, cake, pastries, and biscuits. Consequently, bakery manufacturers are looking to introduce healthier options and working with partners who can invest in R&D to cater to evolving consumer demands, besides sourcing healthier ingredients, vegan fats and oils, iTFA (industrially produced trans fatty acids)-free products.
 
Bakers are also seeking help to develop innovative recipes in health cookies, energy bars and sugar-free bakes. As per reports, the market may see further expansion to reach $25.16 billion by 2032. Home bakers’segment is thriving on innovative recipes.
 
Longer shelf-life
In recent times, food manufacturers are looking for solutions to increase product shelf life, reduce wastage and keep costs under control. All these efforts ultimately lead to a better Return on Investment and help combat inflationary pressures, making it a win-win situation for everyone involved.
 
Innovative Customisation
Indian baking industry is also seeing a spurt in customisation and personalisation of products, driving demand for innovation.
 
There is a growing preference for premium and artisanal offerings in high-quality baked goods. The industry is also seeing a significant increase in artisanal bakers who seek value from their partners in the form of differentiation. They aim to bring in localised differentiation for their consumers by seeking application support, consumer insights, and regulatory advice from their corporate partners.
 
Emerging channels that drive growth
With Out of Home (OOH) consumption rapidly increasing in the country, large HoReCa (Hotels, Restaurants, Cafes) channel that contributes to approximately 7% of India’s GDP, is bound to be a lucrative channel of growth for the baking sector. In recent years, the emergence of online food delivery platforms has revolutionised the HoReCa industry for better.
 
Interactive and experimental baking
There’s a shift seen towards more interactive and experimental baking of regional styles. From taking online classes /workshops or trying out DIY kits to simply looking up recipes from different parts of the world and recreate them is a new trend favoured by new-age home bakers and artisanal bakers.
 
Partnerships & innovation
There’s intense competition among small, mid to large food manufacturers – all vying for a share of the same pie in the bakery industry. Home baking, which began during pandemic, has grown manifold. Home bakers are now successful entrepreneurs running business from their kitchen with easy access to technology, low investment, and marketing on social media.
 
Given the need for constant innovation in bakery sector, we organise boot camps at our Food Innovation Centre (Cargill Innovation Center) in Gurgaon and co-create recipes/solutions for customers. We offer market insights on bakery trends, offer customised and holistic solutions to meet unique needs of customers, among others. Our chefs, commercial and R&D teams work closely with customers to solve their challenges, becoming their go-to-partner for innovation and growth.
 
In line with consumers’ preferences for healthier, low-calorie baked items, we have also conducted live sessions on healthy bakes and demonstrated our product usage among bakers.
 
Road Ahead
The current growth momentum offers a great potential for business expansion, innovation, and employment generation – making bakery a flourishing sector for both established and new entrants in the market. Higher profitability the sector provides is an icing on the cake.
 
However, the industry is also evolving and adopting changes to meet the environment and sustainability goals. To reduce environmental impact, lately, the baking industry has shifted to sustainable packaging with introduction of boxes/ cartons, paper bags, pouches and large containers and avoiding single-use plastic.
 
There are also some regulations in place when it comes to quality and food safety. India has implemented strict regulations (like FFA norms focusing on interesterified fats) right from the quality of ingredients that go into making the baked product to the final selling at the store.
In a nutshell, the bakery industry is brimming with endless possibilities with creativity and innovation at its core and poised to stand the test of time in the coming years.

 Source:  fnbnews.com
03 Jan, 2024 News Image India set to launch an e-portal to procure tur pulses, aims to cut imports.
India’s Minister for Cooperation Amit Shah will launch an e-portal on January 4, 2024, to procure tur pulses above market prices, government sources informed CNBC-TV18. Through this e-portal, the centre aims to register available stocks that farmers intend to sell.
 
The pulses will be procured by government-backed cooperatives like NAFED (National Agricultural Cooperative Marketing Federation of India) and NCCF (National Cooperative Consumers' Federation of India) as per a dynamic pricing formula.
The move is aimed at incentivising farmers by ample remuneration, building a buffer stock as well as to reduce imports. As per government estimates, India is slated to import 12 lakh tonnes (LT) of pulses in the ongoing fiscal, which is more than 35% compared to the previous fiscal.
 
Centre’s decision comes after detailed discussions were held over the issue between the Ministry of Cooperation & Ministry of Consumer Affairs, Food and Public Distribution.
 

 Source:  cnbctv18.com
03 Jan, 2024 News Image Govt procures 25,000 tonnes of kharif onion so far for buffer stock.
The Centre has so far procured 25,000 tonnes of onion grown in the 2023 kharif season for maintaining a buffer stock, Consumer Affairs Secretary Rohit Kumar Singh said on Monday. The government is procuring onion to maintain a buffer stock and use it for market intervention to boost domestic availability and keep prices in check.
 
The government has raised the buffer stock target to 7 lakh tonnes for the 2023-24 fiscal, against the actual stock of 3 lakh tonnes last year.
 
According to the Secretary, the government had procured 5 lakh tonnes from last year's rabi season and is purchasing 2 lakh tonnes of kharif onion as the buffer stock target has been raised.
 
'About 25,000 tonnes of kharif onion has so far been procured from mandis. The procurement is underway,' he told PTI.
 
Of the 5 lakh tonnes of rabi onion lying in the buffer stock, the government has offloaded 3.04 lakh tonnes of onion through cooperative Nafed and NCCF in the market to check prices.
 
As a result, the all-India average retail price of onion has come down by 27.58 per cent to Rs 42 per kg from over a month ago, he added.
 
To arrest sharp spikes in retail prices, the government has banned onion exports till March 31.
 

 Source:  economictimes.indiatimes.com
03 Jan, 2024 News Image Commerce Ministry seeks exporters inputs on reducing compliance burden.
The Commerce and Industry Ministry has asked export promotion councils and other industry bodies to give specific inputs on measures to reduce regulatory compliances and streamline processes further and also share recommendations on decriminalisation, sources have said.
 
This is in line with the government’s stated policy of improving ease of doing business and working continuously to reduce compliance burden for a conducive business environment, a source tracking the matter told businessline.
 
'Inputs have been sought from export bodies on matters related to the Directorate General of Foreign Trade, Customs authorities, the RBI, the CBIC (Central Board of Indirect Taxes and Customs) and on the GST regime, sources tracking the matter told businessline.
 
Once the government receives inputs and processes them, the policies and the procedures will be modified accordingly, the source added.
 
'We are giving our suggestions on what processes can be further simplified. We are identifying areas where you can go for self-certification and where you can go for lesser documentation,' an official from an exporters’ body said.
 
Changes can also be made to the Foreign Trade Policy 2023 based on inputs as amending the policy is now a continuous process and not an annual one.
 
Key focus
The key focus of the government’s drive is simpli?cation of procedures related to applications, renewals, inspections, filing records, etc; rationalisation by repealing, amending or subsuming redundant laws; digitisation by creating online interfaces eliminating manual forms and records; and decriminalisation of minor technical or procedural defaults, Minister of State for Commerce Som Prakash recently said in a Parliament reply.
 
DPIIT, the industry arm of the Commerce and Industry Ministry, started an exercise some time back to assess the cost of regulations in states to provide insight into reforms that can be carried out to improve the business climate. A number of obsolete provisions have already been removed or simplified by DPIIT.
 
'Exporter bodies and other industry players have also been asked to give inputs for decriminalisation of provisions to be incorporated in the second edition of the Jan Vishwas Bill that the government is working on,' the official said.
 
The Jan Vishwas (Amendment of Provisions) Bill, 2023 was passed in the Lok Sabha on June 27 and in the Rajya Sabha on August 2. The Bill sought to decriminalise about 180 minor offences in 42 legislations including some colonial era laws. 

 Source:  thehindubusinessline.com
03 Jan, 2024 News Image India feeds strategic partners despite ban on rice exports.
Despite a ban on rice exports, India continues to feed the world, especially its strategic neighbours such as Nepal, Bhutan, Sri Lanka, Maldives, Malaysia, Indonesia, Vietnam and Iran, as well as the wider Asean region.
 
According to government data analyzed by Mint, rice export to South Asian countries alone was $567 million in the first eight months of the current 2023-24 fiscal, as compared to $1.24 billion in the corresponding period last year.
 
In the case of Asean countries, rice export was at $341 million in April-November 2023 as compared to $541 million in the same period of 2022. The South Asian countries named above are not part of Asean.
 
The figures show that rice export is taking place to these countries under bilateral arrangements in spite of the ban, although prices may not be comparable.
 
The exports are taking place at the government-to-government level and those are being facilitated by National Cooperative Exports Ltd, a government export body which was set up under the Multi-State Cooperative Societies (MSCS) Act, 2002 to export agricultural produce and allied items.
 
However, industry leaders predicted that the ban will keep prices of essential food items in check and make rice available for distribution among beneficiaries of PM Garib Kalyan Anna Yojana for free for the next five years.
 
“The government is doing a commendable job by keeping domestic prices in check and providing food to neighbouring countries,' said Rajnikant Rai, CEO of ITC’s agribusiness division.
 
Rice export to Iran—a key neighbouring country—has scaled up to $60 million in November 2023 from $4.25 million in October, registering a growth of 1,314%, while oil meals export to the country grew from $1.22 million in October 2023 to $46.52 million in November—registering a growth of 3,713%, the data showed.
 
The overall growth of rice export to South Asian countries was up 478% in November 2023 as compared to October, government data showed.
 
India exported rice to Bhutan worth of $0.94 million in November from $0.78 million in the last month, recording 21% growth.
 
Rice worth $5.77 million exported to Nepal in November, which was $3.64 million in October.
 
In the ASEAN region, Vietnam recorded the highest 171.43% growth in rice export as it grew from $5.39 million in October to $14.63 in November 2023. Indonesia imported Indian rice worth $1.80 million in November from $1 million in the last year.
 
As of now, the government cleared exports of 2.77 million tonne (mt) of non-basmati white rice to 14 key Asian and African nations, including Singapore, Nepal, Malaysia, and the Philippines.
 
In addition to white rice, India allowed export of 14,184 tonne wheat, 5326 tonne atta, 15,226 tonne maida and 48,804 tonne broken rice to Bhutan on 30 November. On the same day (30 November), export of broken rice was allowed to Mali (1 lakh tonne), Senegal (5 lakh tonne), Gambia (50,000 tonne ), and Indonesia (2 lakh tonne).
 
India imposed a ban on wheat and its products such as atta, suji (semolina) and maida in May 2022 and on broken rice in September 2022. Amid higher inflationary pressure primarily due to skyrocketing food prices, the government in July 2023 banned exports of non-basmati white rice, imposed a 20% export duty on parboiled rice and set a minimum export price (MEP) of $1,200 per tonne for basmati rice in August 2023.
 
The ban on rice was necessitated after the reduction of public stock in the Central pool resulting in a steep rise in the prices of key staple food cereal.
 
However, after the ban, rice prices shot up significantly in the global market, making India’s strategic partner asking for the foodgrain in tranches. Later on in October 2023, the MEP on Basmati was revised to $950 per tonne.

 Source:  livemint.com