Morocco Lifts Import Tariffs, Taxes on Rice to Steady Market Prices.
Morocco is going to scrap tariffs and VAT on rice imports to increase market supply and ease out prices, according to the Ministry of Industry and Trade. In a statement to stakeholders in the rice industry, the Ministry announced that 'from 1 January 2025, customs duties and VAT will be suspended on rice imports classified under tariff code 1006.20.90.00 until 31 December 2025.'
Source: moroccoworldnews.com
Bangladesh: 13,968 tons of rice imported from India through Benapole in 3 months.
Despite the duty-free import of 13,968 tons of rice from India over the past three months, prices have not decreased in the markets of Benapole and Jashore. On the contrary, rice prices have risen by Tk1-2 per kg over the past week. In response, the government has extended the deadline for rice imports from India. Allocated importers will now be able to bring in rice until March 15, according to a press release issued by the Ministry of Food on February 5.
Source: dhakatribune.com
India, EU to hold next round of talks on proposed FTA from March 10.
India and the European Union will hold the next round of talks on the proposed free trade agreement (FTA) from March 10 to 14, a senior government official said on Monday. Additional Secretary in the Department of Commerce L Satya Srinivas said that before the round the entire delegation of the European Commission will be in India from February 28.
Source: economictimes.indiatimes.com
APEDA Facilitates First-Ever Sea Shipments of Indian Pomegranates to Australia.
In a significant milestone for India's agricultural exports, the Agricultural and Processed Food Products Export Development Authority (APEDA) in collaboration with AgroStar and Kay Bee Exports successfully completed India's first-ever commercial trial shipments of premium Sangola and Bhagwa pomegranates respectively to Australia via sea. This marks a major breakthrough in expanding market access for Indian fresh produce.
Source: pib.gov.in
Inter-ministerial talks soon to frame rules under export promotion mission.
An inter-ministerial consultation will be held soon to finalise schemes for exporters under the export promotion mission, announced in the Union Budget for 2025-26, a senior official said on Monday. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that after the preparation of the scheme details, the ministry will seek the approval of the union cabinet.
Source: economictimes.indiatimes.com
India-Qatar Joint Business Forum on the sidelines of the visit of His Highness Sheikh Tamim Bin Hamad Al-Thani, The Amir of the State of Qatar to Enhance Economic Cooperation.
India and Qatar are set to strengthen their economic and trade ties with the India-Qatar Joint Business Forum, scheduled for February 18, 2025, in New Delhi. Joint Business Forum will be organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, which will convene top business leaders, policymakers, and industry stakeholders to explore investment opportunities, technological collaboration, and economic partnerships.
Source: pib.gov.in
Exploring the role of branding in enhancing the global appeal of Indian basmati rice.
As one of the world’s largest agri-economy, reducing trade deficits with era-appropriate measures has recently been one of India’s driving principles. With the objective of presenting India as one of the world’s food baskets, ensuring food security and penetrating new markets to sustain the push to profitability — the country has witnessed increasing private sector participation and policy manoeuvres. With its role as the world’s largest and one of the only two producers of Basmati rice, India’s unique role in the Basmati rice export space has not been stagnant. With a long-term overview of enhancing the global appeal of Indian Basmati rice, industry stakeholders have adopted a proactive stance to penetrate new international markets.
Source: financialexpress.com
India's exports to US up 39% to $8.44 billion in Jan: Commerce ministry data.
India's exports to the US rose by 39 per cent year-on-year to USD 8.44 billion in January, while imports grew by 33.46 per cent to USD 3.57 billion, according to the commerce ministry data. Cumulatively, the country's exports to the US during April-January grew by 8.95 per cent to USD 68.46 billion against USD 62.84 billion in the same period previous fiscal, the data showed.
Source: economictimes.indiatimes.com
The cumulative exports (merchandise & services) during April-January 2024-25 is estimated at USD 682.59 Billion, as compared to USD 636.69 Billion in April-January2023-24, an estimated growth of 7.21%.
India’s total exports (Merchandise and Services combined) for January2025* is estimated at USD 74.97 Billion, registering a positivegrowth of 9.72 percent vis-à-vis January 2024. Total imports (Merchandise and Services combined) for January2025* is estimated at USD 77.64 Billion, registering a positive growth of 12.98 percent vis-à-vis January2024.
Source: pib.gov.in
The India-Brazil meeting is centered on trade and cooperation in digital agriculture, sugarcane, ethanol, pulses, and research and development.
In a major attempt to improve agricultural cooperation, Governor Ronaldo Caiado of the Brazilian State of Goiás met with Minister of State for Agriculture and Farmers’ Welfare Bhagirath Choudhary at Krishi Bhawan in New Delhi. Strengthening bilateral ties between Brazil and India was the main goal of the high-level summit, with a focus on trade and cooperation in the areas of sugarcane, ethanol, pulses, R&D, innovation, and digital agriculture.
Source: agrospectrumindia.com