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10 Nov, 2023 News Image APEDA facilitates export of first trial shipment of banana to The Netherlands via sea.

In a significant boost to the prospects of fresh fruit exports, the Agricultural and Processed Food Products Export Development Authority (APEDA), operating under the Ministry of Commerce and Industry, has facilitated the export of the first trial shipment of fresh bananas to the Netherlands, by InI Farms, via a sea route.

The first export consignment of one container of bananas to the Netherlands was flagged off yesterday (9th November, 2023) by APEDA Chairman Shri Abhishek Dev from Baramati, Maharashtra.

For the trial shipment of bananas, APEDA has enlisted the support of ICAR-Central Institute for Subtropical Horticulture (CISH), Lucknow for technical assistance while InI Farms has partnered with Del Monte for marketing and distribution in Europe, and Maersk for logistics.

The trial shipment of bananas to Europe was carried out by the APEDA-registered 'InI Farms,' a top exporter of fruits and vegetables from India and their produce being exported to over 35 countries worldwide. Over the past two years, the firm has made extensive efforts to enhance the quality and shelf life of bananas to meet the strict standards of the European market. As part of the Agrostar group InI Farms has also established a value chain for bananas by working directly with farmers.

During the event, the APEDA Chairman mentioned that the beginning of banana exports to the Netherlands would lead to higher prices and increased income for farmers. He also highlighted that this trial shipment would open up the significant export potential of the European market for Indian bananas.

The long-distance market and high costs were obstacles to starting commercial operations, and the export of the first trial shipment of bananas will help build capacities among Indian exporters and European Union (EU) importers by ensuring the export of quality fruits.

Despite being the world's largest banana producer, India's export share is currently just one percent in the global market, even though the country accounts for 26.45 percent of the world's banana production at 35.36 Million Metric Ton. In the fiscal year 2022-23, India exported bananas worth USD 176 million, equivalent to 0.36 MMT.

With the first trial shipment to the European market, it is estimated that India may be able to export bananas worth more than USD one billion in the next five years. This could also lead to an increase in the income of more than 25,000 farmers and create rural livelihoods directly for over 10,000 people in the supply chain and indirectly provide employment for over 50,000 people on farms.

The major export destinations for Indian bananas include Iran, Iraq, UAE, Oman, Uzbekistan, Saudi Arabia, Nepal, Qatar, Kuwait, Bahrain, Afghanistan, and the Maldives. Additionally, there are abundant export opportunities in countries such as the USA, Russia, Japan, Germany, China, the Netherlands, the UK, and France.

As India has been playing a larger role in banana trade with the Middle East for the last 15 years, it is estimated that exports will exceed USD 303 million in the fiscal year 2024.

Banana is a major horticultural crop grown in the states of Andhra Pradesh, Tamil Nadu, Maharashtra, Kerala, Maharashtra, Gujarat, Telangana, and Uttar Pradesh. Andhra Pradesh is the largest banana-producing state, followed by Maharashtra, Karnataka, Tamil Nadu, and Uttar Pradesh. These five states collectively contribute around 67 percent to India's banana production in the fiscal year 2022-23.

Other states that also produce bananas include Gujarat, Karnataka, Madhya Pradesh, Bihar, West Bengal, Assam, Chhattisgarh, Odisha, Mizoram, and Tripura.

The increase in the export of agricultural and processed food products is a result of various initiatives undertaken by APEDA to promote agricultural and processed food product exports, such as organizing B2B exhibitions in different countries and exploring new potential markets through product-specific and general marketing campaigns with the active involvement of Indian Embassies with a special focus on natural, organic, and Geographical Indication (GI) tagged agro-products.

APEDA is making continuous efforts in promoting exports of fresh fruits and vegetables and has initiated to develop sea protocols for other fruits which have significant export potential.


 Source:  PIB
10 Nov, 2023 News Image Soymeal exports likely to pick up soon as global prices rally: Report.
India's soymeal exports are likely to rise in coming months as concerns over soybean output in top producer Brazil lifts global prices to two-month highs, prompting buyers to turn to the south Asian country, industry officials said.
The revival in the exports of the animal feed could boost soybean crushing in India and the availability of soyoil, which could reduce imports of soyoil and palm oil by the world's biggest buyer in coming months.
 
Indian soymeal has become attractive because of the rally in U.S. soymeal prices, Hemant Jain, an exporter in Indore in the central state of Madhya Pradesh told Reuters.
 
'Until last month only Bangladesh, Iran and Nepal were making purchases. Now even Vietnam and other Asian countries have started making inquiries.'
US soymeal futures jumped 20% in five weeks as erratic weather has caused problems in the world's No. 1 exporter Brazil.
Indian traders have contracted to export around 300,000 metric tons of soymeal for shipments in November and December, mostly to Bangladesh, Iran, Nepal and Vietnam, traders said.
Anticipating export demand, soybean and soymeal prices in India surged in the last week, making exports less competitive, said Manoj Agrawal, managing director of Maharashtra Oil Extractions.
'There is an opportunity to export a good amount of soymeal in the next three months, but to make that happen, Indian prices need to remain on par with global prices,' Agrawal said.
 
While soymeal prices have improved, soyoil prices are under pressure because of record inventories of imported soyoil, effectively reducing soybean crushing margins, said a New-Delhi based dealer with a global trade house.
'Soybean crushing is on the rise, and there's a good demand for exports and from the local poultry industry. This will beef up our domestic soyoil supplies and put a cap on imports,' he said.

 Source:  business-standard.com
10 Nov, 2023 News Image Armenia Mulls Joining Chabahar Port Project To Strengthen Trade Ties With India, Other Asian Nations.
Armenia is currently engaged in discussions to join Iran's Chabahar Port project, aiming to open trade routes to India and additional Asian countries.
 
The South Caucasian country is reportedly hoping for early establishment of linkage between the International North South Transport Corridor (INSTC) and Chabahar Port to ensure uninterrupted connectivity.

 Source:  swarajyamag.com
10 Nov, 2023 News Image India and Ethiopia Strengthen Bilateral Trade Ties during 6th Session of Joint Trade Committee.
The 6th Session of the India-Ethiopia Joint Trade Committee (JTC) convened in Addis Ababa, Ethiopia, from November 6 to 7, 2023, to bolster their economic partnership. The meeting, co-chaired by Priya P. Nair, the Economic Advisor of the Department of Commerce, Ministry of Commerce and Industry, Government of India, and Tages Mulugeta, Lead Executive of International and Regional Trade Integration, Ministry of Trade & Regional Integration, Ethiopia, was a significant step towards advancing the already close relationship between the two nations.
 
Ambassador of India to Ethiopia, Robert Shetkintong, and senior officials from both sides were in attendance at the JTC, which emphasized the importance of addressing obstacles to bilateral trade and promoting economic cooperation. During the discussions, the Indian side extended an invitation to Ethiopia to explore collaboration on the Unified Payment Interface (UPI) of India with Ethswitch of Ethiopia. This initiative aims to enhance the efficiency and convenience of financial transactions between the two nations.
 
Furthermore, India encouraged Ethiopia to consider the possibility of settling trade transactions in local currency, a move that could foster trade growth and conserve foreign exchange. The atmosphere at the 6th Session of the India-Ethiopia JTC was characterized by cordiality and forward-thinking, reflecting the enduring friendly relations between the two countries.
 
Both India and Ethiopia conducted a comprehensive review of their recent trade and investment ties, recognizing the immense potential for further expansion. The two nations identified various key areas for mutual cooperation, including health and pharmaceuticals, automobiles, textiles, infrastructure projects, food and agro-processing, and more.
 
Additionally, discussions surrounding Memorandums of Understanding (MoUs) related to Standardization & Quality Assurance and Customs procedures were underway, with both sides committing to their swift conclusion. India also urged Ethiopia to expedite the finalization of a Bilateral Investment Treaty, a move that would offer increased protection and opportunities for investors from both countries.
 
Ethiopia, the Federal Democratic Republic, has been one of the fastest-growing economies in the African region, with an estimated growth rate of 6.4% in the year 2021-22. Bilateral trade between India and Ethiopia reached USD 642.59 million in the 2022-23 fiscal year. India stands as the second-largest exporter to Ethiopia, with Indian companies ranking among the top three foreign investors in the country.
 
The existing Indian investment in Ethiopia stands at approximately USD 5 billion, with substantial commitments on the ground in various sectors such as agriculture, engineering, plastics, manufacturing, textiles, water management, pharmaceuticals, and healthcare.
 
As both nations continue to explore new avenues for cooperation, the prospects for future growth in trade and investment appear promising.
 

 Source:  krishijagran.com
10 Nov, 2023 News Image Odisha CM Naveen Patnaik Inagurates International Convention On Millets In Bhubaneswar.
Odisha CM Naveen Patnaik inagurates International Convention on Millets in Bhubaneswar. Inaugurating the International Convention on Millets organised in Bhubaneswar, CM Naveen Patnaik said that #Odisha is a pioneer in designing a people centric millet mission with focus on livelihoods and nutrition of tribal communities. Highlighting that the UN has declared 2023 as International Year of Millets, CM said Odisha is the first state to organise such a mega event involving all the stakeholders.
 
Welcoming the national and international guests, CM said that Millets are traditional grains, climate resilient and a power house of nutrition. These cereal crops can play an important role to achieve nutritional security and emerge as hope for future. CM stressed that the State govt will put all efforts to make #Odisha a centre for excellence and contribute to economic growth, wellbeing, and health of the people.
 
Odisha Millet Mission launched in 2017 & in December 2020, the then Niti Aayog CEO had lauded OMM’s path breaking work to revive millets in farms & plates
 
As 2023 is being observed by UN as the International Year of Millets, Odisha Govt is organising a two-way International Conference on Millets to popularise the super food at the global level & raise farmers’ awareness to be part of the millet journey.

 Source:  orissadiary.com
10 Nov, 2023 News Image Centre sells 2.85 LMT wheat and 5180 MT rice to 2316 bidders during Open Market Sale Scheme (Domestic).
As a part of Govt of India initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organized. The 20th e-auction was held on 08.11.2023 wherein 3 LMT wheat and 2.25 LMT rice was offered under OMSS(D) and 2.85 LMT wheat along with 5180 MT rice was sold to 2316 bidders.
 
The weighted average selling price was Rs. 2327.04/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2243.74/qtl against the reserve price of Rs. 2125/qtl.
 
In addition to the above, 2.5 LMT wheat has been allocated to Semi-Government and cooperative organizations like Kendriya Bhandar / NCCF / NAFED under OMSS (D) for converting said allocated wheat to atta and offer it for sale to the public under 'Bharat Atta' brand at an MRP not exceeding Rs. 27.50/Kg.  Till 07.11.23, 6051 MT wheat has been lifted by these 3 Cooperative societies for further conversion into atta.
 
The traders are kept out from the ambit of wheat sale under OMSS (D) and till 07.11.23, 1851 random checks have been made across the country in order to avoid hoarding of stocks.

 Source:  pib.gov.in
10 Nov, 2023 News Image Dubai welcomes India's bounty of agro products at Gulfood Manufacturing Expo.
The India Pavilion at the Gulf Food Manufacturing Expo in Dubai has become a focal point for visitors, as it displays a wide array of value-added agro products and packed foods. The three-day event, which started on November 7, is hosting 157 Indian exhibitors who are showcasing India's prowess in the food and beverage industry.India, known for its diverse agro-based products and culinary richness, is making its presence felt at this international platform. The Indian Food and Beverages market, which reached $299 billion in 2022, is expected to surge to over $620 billion by 2029, marking an impressive growth rate of 11%.
 
The products on display include basmati and non-basmati rice, Spices, coarse grains, maize, groundnut, wheat, cereal preparations, processed vegetables, fresh fruits, vegetables, and other value added products. Furthermore, there are opportunities for substantial investments in food processing technologies, skills, equipment, canning, dairy, specialty processing, packaging, frozen food, refrigeration, and thermos-processing The India Pavilion of Gulfood Manufacturing was inaugurated by the Consul General of India at Dubai, Satish Kumar Sivan.
 
The Government of India is constantly working towards diversifying its export basket and enhancing its export presence in world trade. To further strengthen the food & beverage sector, the government has established 60 fully equipped agri-export zones (AEZs) in addition to 42 mega food parks and 128 cold chains to boost agricultural and food processing exports. Moreover, with the advent of technology, the food industry ecosystem in India is undergoing a radical shift in adherence to international quality and hygiene norms. 
 
In terms of exports, India has seen significant growth in fresh fruit and vegetable exports valued at approximately $1.63 billion in 2022-23, with animal product exports reaching about $4.04 billion and cereal exports totaling $13.87 billion in the same period. India also ranks third in global egg production and eighth in meat production, with substantial growth trends in both sectors.
 
The Gulfood Manufacturing Expo in Dubai , with over 3,000 exhibitors from 80 countries, has attracted more than 36,000 delegates from across the global food industry, making it a significant gateway to the Middle East and Africa (MENA), one of the world's fastest-growing food markets. The MENA region's growing population with increasing disposable incomes has created a strong demand for high-quality, innovative food and beverage products. The expo will continue until November 9, 2023.

 Source:  ddnews.gov.in
10 Nov, 2023 News Image Basmati exports rise for 3rd year in a row.
Driven by the heightened international demand and price rise, the export of basmati has been on the upswing for the third consecutive year. The ascending prices of long-grain premium basmati varieties in global markets have yielded substantial profits for traders and farmers.
 
The export statistics provided by the Agricultural and Processed Food Products Export Development Authority (APEDA) underline the growth trajectory of India’s basmati rice, with exports and trade steadily expanding year after year. Between the April-August periods of 2021-22 and 2023-24, the rice trade in international markets has witnessed a staggering 71 per cent upswing, generating a whopping Rs 7,620.32 crore. In the current fiscal, the basmati exports have reached Rs 18,310.35 crore, with the country exporting 20.10 lakh metric tonnes (LMT).
 
In comparison, the corresponding period in 2022-23, saw the basmati rice exports of Rs 15,452.44 crore, with the shipping of 18.75 LMT. Similarly, in 2021-22, India exported 17.02 LMT of basmati rice, generating Rs 10,690.03 crore. The export swelled despite a broader decline in India’s agricultural exports, attributed to the government’s restrictions on wheat, non-basmati rice and sugar exports. The All India Rice Exporters Association (AIREA) reports an optimistic outlook for global rice production, anticipated to reach 54.225 million tonnes, mainly attributable to improved yields in both India and Brazil.
 
Vijay Setia, the former president of AIREA, says: 'Export of basmati rice is on the rise, and traders are highly active due to growing demand. We anticipate a substantial uptick this year, underscored by a surge in orders from Middle Eastern nations, signifying positive market dynamics'.
 
Ongoing paddy harvest in key basmati-producing states like Haryana, Punjab, and Uttar Pradesh has been particularly lucrative for basmati growers, with traditional basmati prices exceeding beyond Rs 6,000 per quintal, and other premium varieties like Pusa 1121, 1718, and Moochal fetching around Rs 4,500 per quintal. The sudden spike in Basmati paddy in grain markets of northern parts of the country followed the Central Government’s decision to reduce the minimum export price (MEP) for long-grain basmati rice from $1,200 per tonne to $950 per tonne on October 23.
 
The average export prices of basmati rice in international market has witnessed a sudden increase in the past one year as it has reached to around $1,050 per tonne against $850-900 per tonne in 2021 and 2022. But, the spike in export is likely to affect the basmati rice prices in the domestic market as well, as the traders are focused on exports.

 Source:  tribuneindia.com
10 Nov, 2023 News Image Aspirational Young India will spur the future growth of India: Union Commerce and Industry Minister Sh. Piyush Goyal.
Union Minister for Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal in his inaugural address at the 'DPIIT-CII National Conference on Ease of Doing Business' held in New Delhi yesterday said that Aspirational Young India will spur the future growth of India.
 
Shri Goyal said that the foundational economic reforms undertaken by the Government has ensured that India moved from fragile 5 to top 5 economies in the last 5 years. The Minister lauded the Industry for supporting the national initiative of Ease of Doing Business (EoDB) and said that the Government is working to take EoDB to the next level.
 
'National Conference on Ease of Doing Business' was held at New Delhi on 8th November 2023. Department for Promotion of Industry and Internal Trade (DPIIT), a nodal department for Ease of Doing Business organized the conference in association with Confederation of Indian Industry (CII).
 
The Conference covered many important areas relating to Ease of Doing Business. Sessions regarding Ease of Doing Business way Forward, National Single Window System, Strengthening Dispute Resolution mechanism, Easing Paying Taxes and customs procedures were part of the conference. Sessions involved participation from representatives of States, Central Ministries and industry.
 
Session 1 on EODB Reforms – Journey so far and way forward was chaired by Secretary, DPIIT, Shri Rajesh Kumar Singh.  Secretary, DPIIT in his keynote address covered initiatives by DPIIT related to EODB (state rankings and reforms), NSWS, minimizing compliance burden (Jan Vishwas Bill), Preparations for Jan Vishwas Bill 2.0, Cost of regulation and briefed on upcoming World Bank B-Ready framework. He further encouraged the industry to work more closely on all initiatives and share suggestions. Mr. Ajay Shriram, MD, DCM Shriram Limited and Mr. Sunil Kant Munjal, Chairman, Hero enterprise shared industry concerns. Shri Navneet Mohan Kothari, MD, MP Industrial Development Corporation, Govt. of MP and Shri Sandeep Sagle, Commissioner, Industries and Commerce department, Govt. of Gujarat made presentations on States’s best practices, effective and simplified Single window portal and implementation of EODB reforms.
 
Session 2 on National Single Window system – One stop solution for all approvals/renewals was chaired by Joint Secretary, DPIIT, Ms. Manmeet Nanda. She encouraged the industry members and SMEs to utilize the National Single Window system for obtaining complete guidance on identifying and applying for approvals according to the business requirements. She also sought feedback for improving user experience and to achieve the goal of making this platform a true, genuine National Single Window. Senior government officials from the State governments of Uttar Pradesh, Nagaland and Central Ministries (Ministry of Labour & Employment and Ministry of Environment, Forest and Climate Change) addressed the audience and enumerated various initiatives led by their respective departments enabling ease of doing business and highlighted on the positive feedback received from the industry users from ease of usage post the integration of respective departmental services on NSWS.
 
In Session 3, strengthening dispute resolution mechanism, discussions were held on streamlining the enforcing contracts mechanism, Decriminalization of Business Laws, Strengthening the role of Alternate Dispute Resolution (ADR) Ecosystem. For Decriminalization, it was highlighted that discussions have been held on future implementation of retrospective applications of provisions that would be beneficial in reducing burden on courts. The discussions revolved around reducing the government litigation through systematic change in attitude and delaying of cases by officers, restricting the time for arguments and looking into limiting the number of adjournments, increasing the number of courts, tribunal and judges.
 
In Session 4, Easing Paying Taxes and Customs Procedures, discussions were held on Minimizing Tax Litigation, improving processes involved in refund/credit/returns, Rationalizing Procedural Compliances in GST, Streamlining and expediting the Customs processes and procedures.

 Source:  pib.gov.in
09 Nov, 2023 News Image 6th Session of India-Ethiopia Joint Trade Committee held successfully in Addis Ababa, Ethiopia.
The 6th Session of India-Ethiopia Joint Trade Committee (JTC) was conducted in Addis Ababa, Ethiopia from 6-7 November, 2023. The meeting was co chaired by the Economic Advisor, Department of Commerce, Ministry of Commerce and Industry, Government of India, Ms. Priya P. Nair and the Lead Executive of the International and Regional Trade Integration, Ministry of Trade & Regional Integration, Ethiopia, Mr. Tages Mulugeta. Ambassador of India to Ethiopia, Shri Robert Shetkintong and other senior officials from both sides also participated in the JTC.
 
Both sides agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries. The Indian side invited the Ethiopian side to collaborate on the Unified Payment Interface (UPI) of India with Ethswitch of Ethiopia. Further, the Indian side also  urged Ethiopia to explore the possibility of settlement of trade transactions in local currency which will help boost bilateral trade and conserve foreign exchange. The deliberations of the 6th Sessions of India-Ethiopia JTC were cordial and forward-looking, reflecting the traditionally friendly and special relations between the two countries.
 
Both sides undertook a detailed review of recent developments in bilateral trade and investment ties and noted that the relationship has a huge potential to be scaled up even further.  To this effect, both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial investments. These include health and pharmaceuticals, automobiles, textiles, infrastructure projects, food and agro processing and so on. Both sides also reviewed the progress of ongoing discussions for Memorandum of Understanding (MoUs) in the field of Standardization & Quality assurance and Customs procedure and agreed to conclude them expeditiously. The Indian side also requested the Ethiopian side to expedite the early finalization of the Bilateral Investment Treaty.
 
The Federal Democratic Republic of Ethiopia is one of the fastest growing economies in the African region, with an estimated growth of 6.4% in the year 2021-22. Bilateral trade between India and Ethiopia stood at USD 642.59 million in 2022-23. India is the second largest exporter to Ethiopia. Indian companies are among the top three foreign investors in Ethiopia with existing Indian investment of USD 5 billion of which, about USD 3-4 billion is estimated to be on the ground. Indian companies have invested in various sectors like agriculture and floriculture, engineering, plastics, manufacturing, cotton and textiles, water management, pharmaceuticals and healthcare.

 Source:  pib.gov.in