Q1 spices exports rise 6% to $1.156 billion on higher demand.
India’s exports of spices were up 6.2 per cent during the April-June quarter of this fiscal at over $1,156 million on higher shipments of products such as oleoresins and seed spices. Spices exports during the same period last year stood at $1,088 million, as per the Commerce Ministry data. While exports registered a growth during April and May, there was a slowdown in shipments during June. Spices exports during June were down 2.26 per cent at $312.85 million over $320.07 million a year ago. In April-May, spices shipments grew by 9.7 per cent to $843.6 million over st year’s $768.82 million a year ago.
Source: thehindubusinessline.com
India's sugar exports touch around 700,000 tonnes, hopes of 900,000 tonnes by Sep.
India exported 650,000–700,000 tonnes of sugar between 20 January and mid-July, and the world's second-largest producer may ship out more if global white sugar prices increase from the current low levels of $484 per tonne, according to traders. The sweetener was exported to Somalia, Afghanistan, Sri Lanka, Djibouti, UAE, Libya and Tanzania after the Centre on 20 January allowed exports of one million tonnes.
Source: livemint.com
India-US trade deal: Fifth round over, India is not budging.
India has once again signaled its steadfast approach to international trade negotiations, as the fifth round of talks for the proposed India-US Bilateral Trade Agreement (BTA) concluded in Washington this week. Led by Rajesh Agrawal, India's chief negotiator and Special Secretary in the Department of Commerce, the Indian delegation engaged in four days of deliberations with their American counterparts from July 14 to 17. The return of the negotiating team marks a critical juncture in the ongoing dialogue, which seems to remain mired in unresolved issues.
Source: economictimes.indiatimes.com
India procures 99,200 tons of onions for buffer stock.
Two central agencies in India have procured approximately 99,200 U.S. tons of onions from farmer-producer companies, as part of the government's buffer stock target of 330,700 tons. The National Agricultural Co-operative Marketing Federation of India Ltd (Nafed) and the National Cooperative Consumers' Federation of India Limited (NCCF) made purchases at an average price of around US$196 per metric ton (Rs 1,634 per quintal) over the past three weeks. Currently, procurement continues at approximately US$189 per metric ton (Rs 1,575 per quintal), as set by the Department of Consumer Affairs.
Source: freshplaza.com
Berries, flowers, banana peels: Herbal rush among Manipur startups to go beyond caffeinated drinks.
Aiming to present tea lovers an alternative to caffeine-based beverages, a number of young Manipur entrepreneurs are experimenting with indigenously grown plants to produce flavoured herbal drinks. Sumac berries, gooseberries and banana peels are among the ingredients that go into the making of these unconventional beverages.
Source: thehindubusinessline.com
Piyush Goyal Holds Talks With Saudi Investment Minister To Boost India-Saudi Trade Ties.
Union Minister of Commerce and Industry Piyush Goyal held talks on Thursday with Saudi Arabia’s Minister of Investment, Khalid Al-Falih, to strengthen trade and investment relations between the two countries. The virtual discussion focused on enhancing economic cooperation, promoting mutual growth, fostering innovation, and exploring avenues for long-term strategic collaboration.
Source: ddnews.gov.in
Union Agriculture Minister Shri Shivraj Singh Chouhan meets farmers at the groundnut fields of Gujarat.
Union Minister of Agriculture, Farmers’ Welfare, and Rural Development, Shri Shivraj Singh Chouhan, today met groundnut farmers during his visit to Gujarat. He visited groundnut fields in Manekvada village of Junagadh and interacted with farmers to gather information from them. The Union Minister also joined the farmers in the field and participated in the weeding and hoeing of groundnut crops.
Source: pib.gov.in
Rs.5,000 per box and counting: Himachal’s apple season begins with a bang as quality fruit reigns.
Apple growers in Himachal Pradesh are upbeat as early varieties of the fruit are commanding impressive prices in wholesale markets. With the apple season kicking off early this year, traders at the Dhalli vegetable market in Shimla say farmers are earning between Rs 2,000 to Rs 5,000 per 20-kg box, depending on quality and ripeness.
Source: economictimes.indiatimes.com
With deposits outpacing appetite, exports & tariffs hold key to credit revival.
India’s banking system loan growth stood at 9.4% as of June 27, its lowest level since March 2022, after having peaked at 2.74% in the current cycle in December 2023. That said, deposits growth now stands at 10%, exceeding loan demand. Deposit growth had peaked at 14.04% mid-December 2023. For a greater part of FY25, banks were chasing deposits with special schemes, as deposit accretion failed to match credit demand. Now, despite a reduction in the policy rate of 100 basis points to 5.50%, along with a cut in the cash reserve ratio (CRR) in phases, demand for credit has slowed while deposit growth has gathered pace.
Source: economictimes.indiatimes.com
India will sign trade deals only if they serve national interest, Piyush Goyal reiterates govt's stand.
Union Minister of Commerce and Industry, Piyush Goyal, again reiterated the government's stand on trade deals, stating that India will enter into international trade agreements only if they serve the country's interests. Union Minister of Commerce and Industry, while addressing the session 'Creating Global Impact Towards Viksit Bharat', organised by ASSOCHAM, said, 'If India gets a good trade deal, we will go ahead with it. If not, we won't, the Minister stated firmly.
Source: economictimes.indiatimes.com