Search Result for : Minimum Import Price

The Dollar Business Bureau In order to protect the interests of local pepper growers, the Government has cleared a proposal from the Spices Board to impose a minimum import price (MIP) of Rs.500 per kg on the spice. “The Ministry of Commerce and Industry has approved the proposal of the Spices Board for fixing the CIF value of Rs.500 per kg as MIP for pepper to protect the interests of pepper growers,” said an official statement. In recent times, decline in the domestic pepper price due to cheaper import of pepper from other origins has been a major concern among pepper growers, it said. The prices of pepper have declined by nearly 35% in a year and have led to a lot of hardship ...

The Dollar Business Bureau The International Trade Price Index released by Australian Bureau of Statistics for the month of March shows that while import prices remained stable, export prices soared to astonishing highs. Cumulatively, import prices increased by merely 1.2% from the first quarter of the previous year whereas export prices rose by 29.1% over the same period. As against the October-December quarter (2016), import prices experienced a fall of 0.6% while export prices grew by 9.4%. The reason cited for volatile export price movement is a turn in commodities cycle, propelled by commodity prices like those of iron ore reaching $94 per tonne towards the end of February 2017. Australia's metal exports in alumina, iron ore and copper showed a price increase of 18.8% during the January-March 2017 period. This was ...

The Dollar Business Bureau Notwithstanding the contracted global demand, restriction on its exports and a continuous slowdown in its GDP growth rates, China’s steel-making capacity grew by 36.5 million tonnes last year, more than twice of Britain’s total steel production. According to the report, the production registered a gigantic growth, despite Chinese government’s pledges to slash excess steel in the industry. China’s massive excess capacity has resulted in a contraction in global demand, especially after several countries, including India took protectionist measures to cut down cheap imports of steel from China.    These countries have for long accused China of dumping its steel into the world market, unbalancing global steel prices and flouting global trade agreements.  Last year, Chinese authorities made serious attempts to ...

The Dollar Business Bureau Indian steel industry is likely to do better due to the protection measures being taken by the government, global credit rating agency Moody's said in its report on Asian steel industry "Steel-Asia: Lower Earnings Keep Outlook Negative" which was released on Wednesday. Profitability of steel companies of the country will be well improved when compared to the other countries in Asian region because of anti-dumping duty, minimum import price and growing demand within the country, Moody's Vice-President and Senior Analyst Jiming Zou said. Union government has imposed anti-dumping duty on cold-rolled flat steel items being imported from four countries - China, Japan, South Korea and Ukraine for six months to safeguard Indian steel industry from low-cost imports. Earlier, anti-dumping ...

The steel industry has pinned its hope on the minimum import price announced recently and expects more relief measures in the budget Source: PTI The government, on February 5, imposed a Minimum Import Price on 173 steel products ranging between $341-752 per tonne. The minimum price would remain in place for six months The steel industry, which is passing through a tough time, has pinned its hope on the minimum import price (MIP) announced recently and expects more relief measures in the budget, JSW Steel CMD Sajjan Jindal said. Moreover, the steel sector is hopeful that the countrys economy shall grow by 8-8.5%, which would help the industry to revive, Jindal told reporters on the sidelines of a 'Make in India' Week event ...

Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 crore for the state in the upcoming Budget The Dollar Business Bureau Union Railways Minister Suresh Prabhakar Prabhu and the Chhattisgarh CM Raman Singh at the signing ceremony of a MoU for formation of JV Company, in New Delhi on Tuesday   Chhattisgarh Chief Minister Raman Singh hailed the Centres decision to impose the minimum import price (MIP) on steel and suggested that an increase in export duty on iron ore will also encourage the use of mineral in in-house manufacturing and reduce the countrys dependency on imported metal products. On Tuesday, Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 ...

The EEPC has sought a compensatory mechanism to make up for the increased raw material cost which the distressed exporters will bear The Dollar Business Bureau Engineering sector which accounts for almost a quarter of Indias total merchandise exports is expected to see a sharp decline due to falling demand and prices of commodities in the global market.   Expressing concern over the governments decision to impose minimum import price (MIP) on steel products, engineering export promotion body EEPC India has said the move will trigger up to 10% hike in raw material for engineering goods manufacturers and thereby reduce their global competiveness. The introduction of the minimum import price on steel products will raise the cost of raw materials for engineering products by ...

The Dollar Business Bureau The ministry is in talks with the National Mineral Development Corporation (NMDC) to explore the possibility of further reducing the iron ore prices   In an attempt to impose duty on steel imports, the Steel Ministry on Wednesday said it has sent a note to the Prime Minister's Office (PMO) seeking permission to fix minimum import price for various steel products. “The Ministry is looking into the industry’s suggestion to impose minimum import price on steel products and it has been sent to the PMO last week,” the Union minister of state for Steel and Mines Vishnu Deo Sai said. Deo said the ministry was also in talks with the National Mineral Development Corporation (NMDC) to explore ...