Product Country
Increase Font Size Decrease Font Size
Menu
Market News
EU and India set to restart long-suspended trade talks.

May 07, 2021

The European Union and India will agree to restart long-stalled trade talks at a leaders' summit on Saturday, an EU official said, as tensions with China spur closer cooperation.
 
'After almost eight years of the suspension of the free trade talks, we will agree to resume these,' a senior EU official told journalists on Thursday in a briefing ahead of the summit.
 
'This opens up the way to a possible free trade agreement between us.'
    
Source: The Economic Times



PM Modi, Boris Johnson's Summit 'Truly Redefined' India-UK Ties: S Jaishankar.

May 07, 2021

The recent virtual summit between Prime Minister Narendra Modi and his British counterpart Boris Johnson has 'truly redefined' contours of the India and UK relationship, said External Affairs Minister S Jaishankar on Thursday, adding that the roadmap agreed during the meeting will guide policymakers in an expansion of ties between the two nations.
 
British Prime Minister Johnson and Prime Minister Narendra Modi held a virtual summit on Tuesday and agreed on ambitious plans for the next decade of the UK-India relationship.
 
'48 hrs ago, our PMs (PM Modi-UK PM) had a virtual summit that has truly redefined contours of our relationship. They agreed on an ambitious Roadmap for 2030 that sets forth their vision for cooperation in great detail,' External Affairs Minister S Jaishankar speaking at an event in London.
    
Source: NDTV



South Korea buys Banganapalli, Suvarnarekha mangoes from AP.

May 07, 2021

Banganapalli and Suvarnarekha mango varieties, which have Geographical Indication (GI) tags, will be exported to South Korea from Andhra Pradesh. The first slot of the mango variety was sourced from Krishna and Chittoor districts in Andhra Pradesh was shopped on Thursday.
 
'In a major boost to India’s mangoes exports in the current season, a consignment of 2.5 tonnes of Banganapalli and Survarnarekha mangoes from Andhra Pradesh were exported to South Korea. The mangoes were treated, cleaned and shipped from the APEDA registered facility at Tirupati,' an APEDA (Agricultural and Processed Food Products Export Development Authority) statement said.
 
'This is the first export consignment sent by IFFCO Kisan SEZ (IKSEZ), which is a subsidiary of IFFCO,' it said.
    
Source: Business Line



Centre plans to increase pulses production via inter-cropping, gives high-yielding seeds free.

May 07, 2021

The Union Government is embarking on an ambitious programme to increase pulses production in the country by expanding the area under the protein-rich crops through intercropping.
 
During the coming kharif season, the government has set an eye on increasing the pulses area by 4.05 lakh hectares, an official statement said on Thursday.
 
To achieve this, the Agriculture Ministry has proposed to distribute 20.27 lakh seed mini kits of various kharif pulses such as arhar, moong and urad to farmers. This is almost 10 times more seed mini kits distributed among the farmers in the previous kharif season, the statement said.
    
Source: Business Line



'The United Kingdom buys about 90 to 95% of India’s exported baby corn'.

May 07, 2021

The export of baby corn from India is going well. The product is available year round, but May and June can be tricky months in terms of water shortages. Luckily there were good rains last season, meaning sufficient water has been stored. The coronavirus could impact the season, as air freight prices have risen significantly.
 
According to Kaushal Khakhar, CEO of Kay bee Exports, the baby corn season is in a good spot this year, even with the tricky months coming up. 'In India, baby corn is readily available and in large quantities for all 365 days of the year. Also, thanks to favourable climatic conditions this year, the season has been strong, with high quantities ordered and yearly supply programs with our customers. The months of May and early June are the tricky months, with water shortage playing a role. However, with good rains in the previous season, there is a sufficient supply of stored water this year.'
    
Source: Fresh Plaza



India’s ASEAN engagement needs a digital push.

May 07, 2021

India’s desire to enhance its commercial and trade relations with the Association of South East Asian Nations (ASEAN) is well-known. At the last two India-ASEAN summits, in 2019 and 2020, Prime Minister Narendra Modi reiterated ASEAN’s centrality to India’s ‘Act-East’ policy and called for enhanced connectivity between India and ASEAN to boost ties stating that a strong and prosperous ASEAN was in New Delhi’s interest.
 
In August 2020, Commerce and Industry Minister Piyush Goel stated that if India and ASEAN could work together to resolve their differences and harness their trade potential, a bilateral trade target of $300 billion could be realised.
    
Source: Business Line



Bangladesh gets offers in 50,000 tonne wheat tender - traders.

May 07, 2021

Bangladesh’s state grains buyer received a lowest offer of $324.90 a tonne CIF liner out in an international tender on Thursday to purchase and import 50,000 tonnes of wheat, traders said.
 
No purchase has yet been made and the offers are still being considered, they added.
 
The south Asian nation is importing rice and wheat to shore up depleted reserves after repeated floods last year damaged its crops, sending domestic prices to record highs.
 
The offer was submitted by trading house Soubhik Exports for Indian-origin wheat, traders said.
    
Source: Financial Post



Liberia suspends import tariff on rice to bring down prices.

May 07, 2021

On Monday, Liberian President George Manneh Weah issued Executive Order #105, which announced the suspension of the tariff on rice imports, according to a report by the Liberian News Agency. The Executive Mansion in Monrovia mentioned that the decision of the President is aligned to the government's desire to bring relief to the people of Liberia.
 
The import tariff that is suspended on rice is classified under the tariff numbers 1006.30.00 if more than 5kg of rice is packed or the same is packed in bulk; 1006.30.00, if at least 5kg of rice is packed and 1006.40.00 (broken rice) under the Revenue Code of Liberia Act of 2000. This is pledged to take effect immediately.
 
This Executive Order followed the cessation of Executive Order #98. According to the Executive Mansion, it emphasizes the commitment of the government to ensure that prices of specific commodities on the market, including rice, remain affordable to avoid bringing unnecessary burden on the citizens.
    
Source: Devdis Course



India expects second highest wheat harvest.

May 07, 2021

India’s wheat harvest is expected to be the second highest in the 2021-22 marketing year following four consecutive record harvests in the previous years, according to a Global Agricultural Information Network (GAIN) report from the US Department of Agriculture (USDA).
 
Despite the USDA lowering its initial forecast, India is anticipated to record its second-highest wheat harvest of 105 million tonnes in the 2021-22 marketing year. The early reports of lower yields led the USDA to decrease its expected wheat production estimate for the country.
 
Currently, India is being affected by a second wave of COVID-19 outbreaks. In response, the government has decided to supply free food grains, wheat and rice, to curb potential economic hardships. The USDA noted the wheat and rice is expected to be distributed to about 62% of the population through May and June 2021 and about 8 million tonnes of grains will be needed to meet this goal.
    
Source: World-Grain.com



India’s wheat production outlook cut to 105 mt on lower yield in central, eastern regions.

May 07, 2021

India’s wheat production estimates have been lowered to 105 million tonnes (mt) in view of the yield being affected in central and eastern regions of the country such as Madhya Pradesh, east and central Uttar Pradesh, Rajasthan and Bihar.
 
Leading the cut in production estimates is the US Department of Agriculture (USDA), which said in its Grain and Feed Update on Wednesday that early harvests had led to lower yield in central and eastern States. The USDA pegging the wheat output at 105 mt is against its previous estimate of 107mt.
 
The Union Ministry of Agriculture and Farmers’ Welfare has projected a record wheat output this year at 109.24 mt. Official sources said the estimates released by the Agriculture Ministry stands and any revision could happen only after procurement for buffer stocks are completed.
    
Source: Business Line



Archive