Search Result for : Iran Imports

Source: The Dollar Business Bureau   Iran has reportedly terminated free shipping of crude oil to India and has asked the Indian oil refiners to clear its old dues. It has also discontinued the three-year old practice of receiving payments in half of the total crude oil dues, while exhorting that it would like to be paid in Euros for the oil it sells to India in future. The Persian Gulf nation wants Indian refiners including Mangalore Refinery and Petrochemicals Ltd (MPRL) and Essar Oil to pay about $6.5 billion of dues, which the companies have reportedly promised to pay in six equal installments. Before the Western sanctions were lifted, Iran, in November 2013, had offered free delivery of crude oil to the Indian ...

The Dollar Business Bureau In order to boost the Indian exports to Iran, the government of India on Wednesday has increased the outlay of export funding to Rs.3000 crore from Rs.900 crore. The move approved by the Union Cabinet was chaired by the Prime Minister by utilising the Export Development Fund (EDF). "The proposal will promote the country's exports with Iran. It will also deepen India's relationship with Iran as a strategic partner," the government revealed in its official statement. The increase in the funding to Rs.3000 crore would permit Exim bank to provide buyer’s credit facility to Iran which is secured via sovereign guarantee from India, for the export of goods and services. With the increase in this framework agreement between Exim Bank of ...

The Dollar Business Bureau (Pic - Bazaar-e Reza in Mashhad, Iran) Iran has slowed down purchases of Indian agriculture products in recent months following the ease of sanctions against it earlier this year   Faced with various hurdles in the international markets, the All India Rice Exporters Association (AIREA) has urged the government to restore the Interest Subvention Scheme to avert a decline in rice exports and losses this year. After remaining a leader for three years, Indian rice exporters are likely to face a slowdown in FY2014-15 due to geo-political changes, low global prices and high supplies. According to official sources, India exported around 10.9 million tonnes of rice in FY2013-14, and India’s total rice exports during April – September 2014 ...

The Dollar Business Bureau | @TheDollarBiz Source - Solvent Extractors Association of India   High domestic prices and prospects of a reduced crop this year have virtually knocked India out of key oilmeal destinations in Iran, EU and Southeast Asia. According to the Solvent Extractors Association of India (SEA), India’s oilmeal exports have plunged to 950,599 tonnes during April – September 2014, down 43% from around 1.65 million tonnes exported in the same period last year. In September 2014, total oilmeal exports from India stood at just 82,749 tonnes, down 73% from 301,717 tonnes shipped in September 2013. While domestic prices remain high, conditions have changed dramatically in the international markets in the last few months. Some sanctions on Iran ...