Russia receives the first batch of bananas from India.
The port of Novorossiysk welcomed its inaugural shipment of bananas from India, weighing 22 tons in comprising over 1500 boxes of fruit. Fesco, the transportation group facilitating the delivery, announced the arrival on Thursday, March 14th. X5 Import, a subsidiary of Russia's largest retail company, X5 Group, commissioned the shipment.
Source: freshplaza.com
India, Peru to hold seventh round of FTA talks in April.
India and Peru are trying to speed up talks on the proposed bilateral free trade agreement (FTA), after it got delayed due to the Covid-19 pandemic and have scheduled the seventh round of negotiations in New Delhi, from April 8, prior to which offer lists on goods and services are likely to be exchanged, sources have said.
Source: thehindubusinessline.com
Exports of Agricultural products including Tobacco (58.24%), Meat, Dairy & Poultry Products (37.83%), Oilseeds (37.71%), Cereal Preparations & Miscellaneous Processed Items (17.69%), Spices (14.84%), Fruits & Vegetables (12.72%) and Rice (1.81%) continue to grow in February 2024
India’s overall exports (Merchandise and Services combined) in February 2024* is estimated to be USD 73.55 Billion, exhibiting a positive growth of 14.20 per cent over February 2023. Overall imports in February 2024* is estimated to be USD 75.50 Billion, exhibiting a positive growth of 10.13 per cent over February 2023.
Source: pib.gov.in
Majority of issues in India-UK FTA towards resolution, says commerce ministry.
The majority of difficult matters in India-UK FTA negotiations are moving towards resolution, and both sides are actively engaged for a fair and equitable deal, commerce ministry officials said on Friday. India and the UK launched talks for an FTA in January 2022 to boost economic ties between the two nations.
Source: economictimes.indiatimes.com
Exports rise 11.9% to 11-month high in February.
Buoyed by increased shipments of engineering goods, electronic items and pharmaceutical products, India recorded the highest goods exports in a month in this financial year so far in February, even as the merchandise trade deficit widened, showed data released on Friday.
Source: economictimes.indiatimes.com
US, UAE, Singapore, South Africa give a fillip to India's exports in Feb.
A turnaround in February shipments to key export destinations such as the US, United Arab Emirates (UAE), Singapore and South Africa led to double-digit export growth from India touching a 20-month high.
After growth in merchandise exports remained in negative territory for most of 2023, outbound shipments have turned positive for three consecutive months since December last year despite the continuing global economic turmoil.
Source: business-standard.com
Govt to buy 1,650 tonnes of onions from traders for Bangladesh.
National Cooperative Export Ltd (NCEL), the government's export agency, will buy 1,650 tonnes of onions at Rs.29/kg from private traders for exports to Bangladesh, said industry people.
This will be the first official export of the key kitchen staple from India in more than three months since the country banned its export from December 8 to March 31. In March first week, the Centre allowed export of 64,400 tonnes of onions to countries from which it had received requests through diplomatic channels, government officials said at the time.
Source: economictimes.indiatimes.com
India extends export curbs on deoiled rice bran until end-July.
India has extended restrictions on exports of deoiled rice bran until July 31, the government said in an order on Friday.
India is a leading exporter of deoiled rice bran, which is used in the cattle feed industry.
Source: nasdaq.com
India's oilmeals export up 9 pc to nearly 5.16 lakh tonne in Feb on higher soyameal shipments.
Oilmeals export rose 9 per cent year-on-year in February to nearly 5.16 lakh tonnes on higher outward shipments of soyabean meal, according to trade data. In a statement on Friday, Solvent Extraction of India (SEA) said the export of oilmeals in February stood at 515,704 tonne as compared to 4,71,770 tonne in the year-ago period.
Source: economictimes.indiatimes.com
Duty-free imports of yellow peas may be allowed beyond April.
India may allow duty-free imports of yellow peas, which are used in place of chana, beyond April to keep the pulses inflation under control as the yield of chana is expected to be low on account of a decline in acreage and lower productivity, said an official.
Source: economictimes.indiatimes.com