Day: February 8, 2023

Feb 08

SOPA demands hike in import duty of all edible oils

New Delhi, Feb 7 (PTI) The Soyabean Processors Association of India (SOPA) on Tuesday demanded that the government should hike import duty on all edible oils as international prices are expected to remain low in view of record global soyabean output. At present, domestic edible prices have been continuously falling and are at a very low level, SOPA chairman Davish Jain said in a representation made to Commerce and Industry Minister Piyush Goyal. According to SOPA, the government should “increase Read Full Details…

Feb 08

International Capital Flow Pressures and Global Factors

The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index that combines pressures observed in exchange rate adjustments with model-based estimates of incipient pressures that are masked by foreign exchange interventions and policy rate adjustments. The sensitivity of capital flow pressures to risk sentiment, including for so-called safe-haven currencies, evolves over time, varies significantly across countries, and differs between normal times and extreme stress events. Across countries, risk sensitivities and safe-haven status are Read Full Details…

Feb 08

Overseas Demand Continues to Affect Cargo, Exports at Chinese Ports

Fitch Ratings-Shanghai/Hong Kong-07 February 2023: China’s total cargo throughput was up by 3% yoy in 4Q22, while foreign trade cargo declined by 1% yoy at eight major coastal ports, mainly due to continued weakening overseas demand, says Fitch Ratings. Total container throughput increased 7% yoy in 4Q22, driven by newly opened shipping routes and sea-rail transportation routes along with Regional Comprehensive Economic Partnership Agreement, which took effect in January 2022. Export value declined 7% yoy for the first time since Read Full Details…

Feb 08

India’s Export Import Trends for Merchandise Goods in FY 2021-22

Key drivers of India’s export growth during FY 2021-22 This is the first time India has achieved its ambitious target of crossing the US$400 billion mark in merchandise exports. Driving the surge in exports is pent up unmet demand during major waves of the COVID-19 pandemic as well as the expansionary monetary policy adopted by developed countries to deal with the impact of the pandemic. Major beneficiaries of India’s export growth include petroleum products (152.1 percent); cotton yarn, fabrics, made-ups, Read Full Details…

Feb 08

IEC: How to obtain Import and Export Licence, Import Export Code and what it entails

It may be an opportune time to start exporting your products, going by how India’s exports in categories such as engineering products, jewellery and electronics goods, among others, are going up. However, though diving into the overseas market looks promising, becoming an officially licensed exporter has a lot of compliances and regulations that one should be aware of. One of the foremost things to start with would be getting an Import Export Code (IEC). IEC is a mandatory unique 10-digit Read Full Details…

Feb 08

Things to keep in mind while choosing your AD Bank for export-import transactions

Effective participation in international trade is intrinsically linked to the economic development of any country and more so for developing nations. It not only generates employment opportunities but also provides a wide pool of goods and services for customers to choose from. As per the Department of Commerce, Ministry of Commerce and Industry, the overall exports (merchandise and services combined) in June 2022 are estimated to be USD 64.91 billion, exhibiting a positive growth of 22.95% over .. The Indian Read Full Details…

Feb 08

China’s higher feed corn use could hit barley prices

China is using more corn in feed rations, which could result in lower feed barley prices in Western Canada, says an analyst. “Feed mills have resumed mixing more corn in feed rations as higher prices for wheat and sorghum reduce demand for corn alternatives,” the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) said in a recent report. Mills are using more corn due to higher Chinese production of the commodity and falling import prices. China’s corn production in 2022-23 Read Full Details…