Synthetic mint dents India’s grip on global mentha market

India’s natural mentha oil industry faces a crisis. Exports and production have fallen significantly. Synthetic mint, a cheaper lab-grown alternative, is flooding markets. Farmers are shifting to other crops as demand for natural mentha wanes. Bulk buyers now prefer the synthetic version for its consistent quality and lower cost. This trend threatens the future of […]

The Indian leather industry met with a Parliamentary Standing Committee on Commerce, highlighting that 50% US tariffs are significantly harming exports and impacting the sector’s competitiveness. They urged for bilateral engagements to address trade barriers and requested policy and diplomatic support to mitigate socio-economic consequences.

Ramesh Juneja has taken over as the new Chairman of the Council for Leather Exports. The organization sees significant growth potential for India’s leather and footwear exports. Bilateral trade agreements with the EU and US could boost exports to $14 billion in the next 3-5 years. Currently, exports stand at around $5.5 billion.

New Zealand and India have concluded a Free Trade Agreement. This pact is set to boost exports and create jobs for New Zealand. The deal aims to enhance market access and promote investment. It is expected to take effect in seven to eight months. This agreement signifies a significant step in strengthening bilateral economic ties […]

Commerce and Industry Minister Piyush Goyal will visit Brussels from January 8-9 to meet EU Commissioner Maroš Šefčovič, aiming to expedite the conclusion of the India-EU Free Trade Agreement. The discussions will focus on resolving outstanding issues and securing tangible benefits for India’s labor-intensive sectors.

A Parliamentary committee is studying the effects of increased US tariffs on Indian goods. The panel is visiting Visakhapatnam, Chennai, and Coimbatore to meet with industry leaders and government officials. They are examining challenges in the marine, automotive, leather, and textile sectors.

India has become a major buyer of Russian crude oil since the Ukraine war. The country imported billions of euros worth of oil. This trade continues despite international sanctions. Some Indian companies have stopped purchases due to new US sanctions. Other refiners still buy from Russia. Russia’s earnings from global fossil fuel sales are substantial.

The Directorate General of Foreign Trade (DGFT), on January 3, amended the import policy of Low Ash Metallurgical Coke, having ash content below 18%, including coke fines/coke breeze and ultra-low phosphorous metallurgical coke, to “free” from “restricted” earlier.

India’s palm oil imports dropped significantly in December, reaching an eight-month low. This decline was driven by reduced winter demand and refiners opting for soyoil and sunflower oil. Total edible oil imports saw an increase due to these rival oil purchases. This shift could impact global oil inventories and prices.