Day: May 26, 2024

Onion
May 26

India imposes export duty of 40% on onions

The government on Friday imposed a 40 percent duty on the export of onions. Additionally, it granted an exemption on duty for the import of desi chana until March 31, 2025. Furthermore, it has prolonged the duty exemption on imports of yellow peas for shipments covered by the bill of entry issued on or before October 31, 2024. In a notification, the finance ministry said the changes would be effective from May 4. Currently, the export of onion is banned. Read Full Details…

May 26

Top Reasons for Global Trade Uncertainties in Export and Import in 2024

In 2024, global trade continues to face significant uncertainties, impacting export and import activities worldwide. These uncertainties stem from a combination of geopolitical tensions, economic shifts, and emerging challenges that disrupt traditional trade patterns. Here are the top reasons contributing to global trade uncertainties in export and import in 2024: Example: The continued rivalry between the United States and China has led to a series of trade restrictions and tariffs, affecting numerous industries and creating a ripple effect on global Read Full Details…

May 26

How Economic Damage from Climate Change?

Climate change poses a significant threat not only to the environment but also to the global economy. The economic damage from climate change is multifaceted, affecting various sectors, from agriculture to real estate, and leading to substantial financial losses. Here are some genuine reasons and examples illustrating the economic impact of climate change: Example: In 2019, a severe drought in Australia led to a significant drop in wheat production, causing a spike in global wheat prices. This not only affected Read Full Details…