Russia to expand wheat exports to Asia on higher production
The Dollar Business Bureau Russia, the world’s largest exporter of wheat, is about to expand its market for grain in the fast-growing Asian economies, which normally import their grain requirements from other parts of the world. Russia is poised to grab more share in markets of Indonesia, China and Japan as drought conditions in countries like Australia, Canada and the US are eroding the wheat production. These countries are the dominant exporters of wheat to Asian countries, accounting for around one-third of the global imports. While wheat shipments from Russia were estimated to surpass those of any other nations, very little is usually shipped to Asia, where wheat imports have nearly doubled in last 10 years as rising incomes pushed up demand for ...
Indias exporters could face challenges with continued appreciation of the rupee, Ajay Sahai
The Dollar Business The industry body FIEO forecast challenges for the exporters if the rupee continued appreciating in the future. Global trade is expected to grow at 2.4% in 2017, and there is likelihood of extreme instability in currencies. Though the rupee has gained against the dollar, and since competing currencies of other countries could depreciate further, rupee’s appreciation could hurt India’s competitiveness in its labour intensive business units especially sectors such as agro-products industries, handloom, leather, textiles and marine products. The government should support these sectors based on their forex returns so that those companies handling large imports, which will be benefitted with the appreciation are provided less support than those having little or no support. Speaking at a press meet ...
WTO slashes 2014 global trade growth forecast to 3.1%
The Dollar Business Bureau | @TheDollarBiz Source - WTO secretariat The World Trade Organisation (WTO) has lowered its forecast for global trade growth in 2014 to 3.1%, down from 4.7% estimated in April this year. WTO says that the downward revision is mainly due to sub-par trade growth in the first half of 2014. WTO economists have also lowered their estimate for trade growth in 2015 to 4% (down from 5.3% estimated in April) in anticipation of continued geopolitical tensions and uneven growth in the coming months. WTO Director-General Roberto Azevêdo said, “International institutions have significantly revised their GDP forecasts after disappointing economic growth in the first half of the year. In light of this, the WTO’s forecasts for trade ...
