Day: February 1, 2023

Feb 01

HIGH DEMAND FOR MEDICINAL PLANTS IN INDIA

India has 15 agroclimatic zones that comprise ~18,000 types of plants, of which 6,000-7,000 have therapeutic properties. These medicinal plants are used in numerous applications in the Indian society and used to make medicines in traditional medical practices such as Ayurveda, Unani, Siddha, Sowa-Rigpa and homeopathy; also used in plant-based pharmaceutical companies. ~960 types of medicinal plants are traded, of which 178 species have yearly consumption levels of >100 metric tonnes. ~80% medicinal plants are extracted from the wild, while Read Full Details…

Feb 01

Government must look at reducing import duty on gold in Budget 2023 to boost performance

For December 2022, the total gross export of Gold Jewellery (Plain & Studded) a decline of 4.55% to Rs 4,635.64 crores (declined 12.62% in dollar terms to $562.48 million) as compared to Rs 4,856.47 crores ($643.74 million) for the same period last year. For the month of December 2022, the total gross export of all kinds of Studded Gold jewellery declined 21.95% to Rs 2,265.90 crores (declined 28.51% in dollar terms to $275.03 million) as compared to Rs 2,903.01crores ($384.69 Read Full Details…

Feb 01

Free Trade Agreements (FTAs) make Exporters competitive: Economic Survey 2023

The Economic Survey 2023, tabled before the parliament by the Financial Minister Nirmala Sitaraman reviews the performance of the Indian economy .In these surveys it was observed that During FY23 (till December 2022) India’s exports have displayed resilience on the back of record levels of exports in FY22. Petroleum products, gems and jewellery, organic and inorganic chemicals, drugs and pharmaceuticals were among the leading export items. Recognising the key role exports play in improving the resilience of the external sector, Read Full Details…

Feb 01

Rising Alabama exports put 2022 on course for record year

While full-year results are not yet available for 2022, trade data show that Alabama exports approached $23.4 billion in value through November — a figure that already eclipses the annual record of $21.7 billion, set in 2017. That’s good news for Alabama businesses that export their products to an international customer base because it suggests the strong recovery made during 2021 is accelerating. “Alabama is full of next-level innovation taking place in key industries, and we’re ready to bring what’s Read Full Details…

Feb 01

Brazil, U.S., Ukraine, Australia Grain Exports, and China Growth, in Focus

“China recently was buying record amounts of Brazilian corn but with supplies in South America now running thin demand will shift to the US through July when Brazil should start exporting a record safrinha crop. Safrinha is a second-crop corn planted after the soybean harvest. “‘Of course we lost some bean business but the corn business basically is going to be with us until the crop in Brazil,’ said ADM Chief Executive Officer Juan Luciano. ‘And the US will be Read Full Details…

Feb 01

China hikes Aluminium tariffs but export boom already over

China raised export tariffs on unwrought primary aluminium and alloy at the start of this year after a rare burst of export activity in the first part of 2022. The country, which was a huge importer of unwrought aluminium in both 2020 and 2021, briefly emerged as supplier of last resort, particularly to Europe, where multiple smelters curtailed operations due to high power prices. The tariff increases fit with China’s long-standing policy of encouraging exports of value-add aluminium products rather Read Full Details…

Feb 01

40% of the goods that Spain imports and exports by sea enter or leave from Valenciaport

Valenciaport, as a thermometer of economic activity and world trade, reflects in its 2022 data the international crisis that is affecting the business situation and the global exchange of goods, which is facing a complex situation marked by the war in Ukraine, increased neo-protectionism, high inflation and the rise in fuel and raw material prices. Despite the fall in total traffic (-6.92%) and container traffic (-9.85%) during the previous year, Valenciaport maintains its share of 40% of import/export traffic in Read Full Details…