Indias April exports rise 19.77%, gold imports widen trade deficit
The Dollar Business Bureau India's exports surged up almost 20% during April this year, continuing recovery for the eighth straight month, on the back of good performance by petroleum, textiles and engineering sectors. However, the trade deficit also recorded a three-fold rise to $13.2 billion, majorly due to a sharp increase in the imports of gold and crude oil during April. Exports increased by 19.77% to $24.63 billion during the month compared to $20.56 billion during April 2016, as per the data released by the Ministry of Commerce and Industry on Monday. “In continuation with the double-digit growth exhibited by exports during March 2017, exports during April 2017 have shown growth of 19.77% in dollar terms valued at $24.6 billion as compared ...
Margin pressure confines Palasa cashew exporters to domestic market
Sreenivasa Rao Dasari Cashew processors and exporters in Andhra Pradesh mostly from Srikakulam district, feel the heat of soaring cashew prices in the global market. The import price of raw nuts soared to over $2,000 per tonne from $1,200 the previous year. Adding to their woes, the area under cashew cultivation is shrinking day by day. With the recent announcement of demonetisation by the government, their cup of woes seems to be brimming over. The cashew industry is majorly a labour-intensive one and demonetisation has made it really difficult for the industry to keep its head out of troubled waters. With such developments, there’s no other option for the businesses but to focus on the domestic market. We are now dependant on cashew ...
Indias cashewnut exporters eye emerging China market
Recent hike in wages in Kerala and import duty imposed by China put India at a disadvantage compared to countries like Vietnam which has overtaken India as the world’s largest cashewnut exporter Bidhu Bhushan Palo | The Dollar Business India’s cashewnut exporters are facing a tough time due to multiple factors that include higher input costs, shrinking sources and trade barriers in exporting to China. India is the world’s largest producer of cashewnuts and is known as a source of good quality cashewnuts. It was also the top exporter, but has now been replaced by Vietnam, which is keen to increase its cashewnut exports from the current $2 billion (around Rs.12,500 crore). Despite various incentives provided to cashew nut ...
