Exports of 8 out of 10 key agricultural products slide in September
Deepak Kumar | The Dollar Business Weak global demand and shortfall in domestic production have led to a steep fall in India’s export of agricultural products in the past few months, say experts. In September this year, the export of 8 out of 10 key agricultural products witnessed a negative growth with cereals registering the steepest decline of almost 64%, the latest government data showed. Industry experts have attributed the downward trend to the weak demand in the European market, devaluation of Chinese yuan and lesser domestic production. “Several factors including devaluation of yuan and market crisis in the European Union have led to a considerable fall in exports. Domestic production has also been hit. Overall we are seeing a decline; both ...
India to import additional 3,000 tonnes of pulses
Deepak Kumar | The Dollar Business In the wake of falling production and soaring prices of pulses, the government has decided to import 3,000 tonnes of pulses – 2,000 tonnes of tur and 1,000 tonnes of urad—to meet the domestic demand. The decision was taken on Monday during a meeting between Union Cabinet Secretary P K Singh and secretaries of states departments. Singh also directed all states to increase procurement and create a buffer stock of pulses. The government had earlier imported 5,000 tonnes of tur and placed a revised order for importing additional 2,000 tonnes of chickpeas. “Cabinet Secretary directed that all the 400 outlets of Kendriya Bhandar and Safal in Delhi should start distributing imported tur dal immediately,” Ministry ...
Rise in duty on steel product imports inadequate: Indian Steel Association
Sai Nikesh | The Dollar Business Amidst concerns from domestic industry over raising steel imports into the country, Government of India on Wednesday, increased basic customs duty on imports of steel products. Under this move, customs duty on imports of more than 400 steel products (a majority of them falling under the 8-digit HS Code levels) have been increased from 5%-to-7.5%-to-10%. The products include, Iron and non-alloy steel ingots; Semi-finished products of iron or non-alloy steel; Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or more, cold-rolled, plated or coated; Flat-rolled products of iron or non-alloy steel, of a width of 600 mm or less, cold-rolled, plated or coated; Bars or rods, hot-rolled, in irregularly wound ...
