Red Sea route accounts for 50% country’s exports, 30% of imports: Report

The ongoing crisis around the Red Sea shipping route, resulting from Houthi attacks on commercial vessels, may impact various industries in India. The Red Sea route via the Suez Canal accounts for 50% of the country’s exports and 30% of imports. Sectors like agricultural commodities and marine foods, due to perishable goods and lean margins, […]

Exports from Kolkata port, a key gateway to eastern India, are facing challenges such as geopolitical tensions, a government-imposed rice export ban, and soaring ocean freight costs. Key export items like engineering goods, shrimp, and rice have been impacted. Freight charges, especially for West Coast destinations, have surged by 30-50% since December 2023 due to […]

UNCTAD has expressed deep concerns about the global trade disruption caused by the ongoing Red Sea crisis. The organization emphasized the adverse impact on developing nations, warning of repercussions on global food prices due to longer cargo routes and higher freight rates.

India’s rice output is expected to drop this fiscal year for the first time in eight years, raising the prospect of New Delhi extending curbs on exports of the grain to control food prices in the lead-up to elections.

“The pomegranates were first processed at the pack house of Kay Bee Exports and then irradiated at the Irradiation Facility Centre (IFC) of Maharashtra State Agricultural Marketing Board (MSAMB) at Vashi in the presence of the US inspector to Florida in USA,” said MSAMB in a release.

On the other hand, players operating in sectors like textiles, chemicals and capital goods may not be immediately impacted because of better ability to pass on higher costs, or because of a weaker trade cycle, Crisil said.

India will secure the interests of its poor fisherpeople at the upcoming WTO ministerial conference. New Delhi proposes allowing developing countries to give subsidies to their fisherpeople in their exclusive economic zone. India emphasizes polluter-pays and differentiated responsibility principles. India opposes the developed countries’ proposal for top subsidisers to notify the WTO of new subsidy […]

India’s coffee exports declined 5.4% in 2023 to 3.77 lakh tonne due to a fall in Robusta coffee shipments. Arabica and Robusta are the coffee varieties grown in India, with Arabica having a sweeter taste and Robusta being more bitter. The export of Robusta beans decreased by 15%, while Arabica beans saw a 5.79% increase.

The plan is to come up with a comprehensive action plan to bridge India’s trade deficit with China and align India’s trading strategies with emerging geopolitical situations and potential risks to safeguard its supply chains, which have seen major disruption during the outbreak of the pandemic.

Strong domestic demand is putting pressure on India’s corn supplies, leading to a tightening of the corn balance sheet, according to Garima Jain, Deputy CEO and Head of Grains for India at Louis Dreyfus Company. India, which has been a key corn exporter in Asia, is experiencing a decline in shipments due to increased local […]