India, China agree to hold 'functional talks' on trade, eco.
India and China have agreed to hold talks to discuss and resolve specific issues of concern, especially in the areas of economics and trade, during the visit of the vice foreign minister of China, Sun Weidong. They will also work towards expediting resumption of direct flights. Sources said the issue of rare earth metal supplies that have been hit by Chinese export controls was also raised by the Indian side during the talks.
Source: economictimes.indiatimes.com
Basmati export prices at 17-year low, higher volumes cushion the blow.
Basmati rice exporters have sustained earnings this marketing year (starting October 2024) on the back of higher export volumes, despite a sharp fall in contracted rates and the absence of a minimum export price (MEP). Trade sources indicate that May’s average basmati export price fell over 23 per cent to $831/tonne from $1,080 a year ago.
Source: thehindubusinessline.com
Govt approves procurement of 54,166 tonnes moong, 50,750 tonnes groundnut under PSS.
The government has approved procurement of 54,166 tonnes of moong from Haryana, Gujarat and Uttar Pradesh at a minimum support price (MSP), along with the procurement of 50,750 tonnes of groundnut from Uttar Pradesh. The procurement of the summer crops of 2025-26 will be undertaken under the central Price Support Scheme (PSS), which is activated when market rates fall below the MSP.
Source: economictimes.indiatimes.com
Andhra CM urged to lift ban on entry of Totapuri mangoes from Karnataka.
Karnataka Chief Minister Siddaramaiah has urged his Andhra Pradesh counterpart N Chandrababu Naidu to remove the ban on the entry of ‘Totapuri’ Mangoes from Karnataka into Chittoor district. ‘Totapuri’ mango is a popular variety used in processing and pulp extraction units, and is widely grown in the border district of Kolar.
Source: thehindubusinessline.com
India's goods, services exports may cross $900 billion this year: Piyush Goyal.
India's goods and services exports during 2025-26 are expected to cross USD 900 billion despite the global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. Despite uncertainties due to the Russia-Ukraine conflict, Israel-Hamas war and the Red Sea crisis, the country's overall exports touched an all-time high of USD 825 billion in 2024-25 against USD 778 billion in 2023-24.
Source: economictimes.indiatimes.com
Odisha CM flags off mango export from Patnagarh to Abu Dhabi.
Premium Amrapali mangoes cultivated in Patnagarh of Balangir in Odisha were exported to Abu Dhabi on Thursday. Odisha Chief Minister Mohan Charan Majhi flagged off the first consignment of 1.08 tonnes Amrapali mangoes to Abu Dhabi via the inaugural flight from Biju Patnaik International Airport at Bhubaneswar on Thursday. A media statement said Balangir has emerged as a key agri-export hub this year, leading the way not just in mangoes but also in dragon fruit and other high-value superfoods. Mangoes were cultivated by Patnagarh Pragati Farmer Producer Company Ltd, and are being exported with the support of the Odisha Department of Agriculture and Farmers’ Empowerment (DA&FE), APEDA, Palladium (as the technical support unit), and PRB Superfoods.
Source: thehindubusinessline.com
95th Meeting of Network Planning Group under PM GatiShakti evaluates key Infrastructure projects.
The 95th meeting of the Network Planning Group (NPG) was convened today to evaluate infrastructure projects in the Metro Rail and Roads, Transport & Highways and Logistics Parks. The meeting focused on enhancing multimodal connectivity and logistics efficiency in alignment with the PM GatiShakti National Master Plan (PMGS NMP).
Source: pib.gov.in
US trade pact set for early finish: Piyush Goyal.
India and the US are on track to seal a trade agreement before the deadline of fall 2025 set by PM Narendra Modi and President Donald Trump, commerce and industry minister Piyush Goyal told ET in an interview. Goyal, who is on a four-day visit to Switzerland and Sweden, said the rare earth magnet supply squeeze by China is a wakeup call.
Source: economictimes.indiatimes.com
India's May palm oil imports surge 84% m/m to hit six-month high.
India's palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil's price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases, an industry body said on Thursday. Higher imports of palm and soyoil by India, the world's biggest buyer of vegetable oils, could support Malaysian palm oil prices and U.S. soyoil futures.
Source: economictimes.indiatimes.com
India seeing the rise of exotic mushrooms in agriculture.
India's agricultural sector is undergoing a transformative shift, driven by sustainability, high-value crops, and changing consumer preferences. While traditional farming remains the backbone of the economy, exotic mushrooms—once considered niche imports—are emerging as a profitable, eco-friendly, and health-driven industry.
Source: verticalfarmdaily.com