India’s palm oil imports plunge to 9-month low in February; sunflower oil rises

Lower purchases by India, the world’s biggest importer of vegetable oils, could weigh on benchmark Malaysian palm oil futures, but will help to reduce sunflower oil inventories in the Black Sea region.

Union Minister of State for Agriculture Kailash Choudhary was present at the inaugural event and visited an exhibition stall at the Indian Agricultural Research Institute (IARI), Assam. According to an official statement, Munda said Prime Minister Narendra Modi has special emphasis on the development of the Northeastern region. He said the central government has done […]

The Indian government has permitted exports of 30,000 tonnes of non-basmati white rice to Tanzania and 80,000 tonnes of broken rice to Djibouti and Guinea Bissau. The exports are allowed to meet the food security needs of these countries.

Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil brokerage and consultancy firm, said India’s soyoil imports will rise to 4.3 million metric tons in the 2023/24 marketing year from 3.5 million tons in 2022/23.

The Indian government has allowed the export of 64,400 tonnes of onions to the UAE and Bangladesh through the National Cooperative Exports Ltd (NCEL), according to notifications from the commerce ministry. While 50,000 tonnes are permitted for Bangladesh, 14,400 tonnes are allowed for the UAE. Although onion exports are generally banned, the government permits specific […]

India has lodged a diplomatic protest with Thailand over comments made by the Thai ambassador to the World Trade Organization, Pimchanok Vonkorpon Pitfield, about India’s rice procurement programme. Pitfield’s comments were described as “loose and made without adequate understanding” and led to her replacement by her government. Thailand swiftly replaced Pitfield, a development that came […]

Diamond houses in India are facing scrutiny under the new sanctions regime that began on March 1 to block Russian gems from affluent western markets. The Gem & Jewellery Export Promotion Council (GJEPC) has circulated guidelines and formats of self-declarations that diamond firms shipping to the US and EU must share with their buyers to […]

CII President R Dinesh believes the ambitious USD 100 billion non-oil trade target between India and the UAE by 2030 is achievable. The 2022 free trade agreement has already spurred significant bilateral trade and investments, with the UAE now India’s top non-oil trading partner. The comprehensive pact covers various sectors, fostering growth, and facilitating global […]

India’s move to block a China-led investment facilitation pact at the WTO ministerial meeting promotes multilateral agreements. The agreement aimed to create legally binding provisions for investment flows but compromised member countries’ sovereignty. India’s principled stand safeguards sovereignty and global peace, opposing the push for a multilateral framework on investment facilitation.

Nepal’s Ambassador to India, Shankar Sharma, praised the Reserve Bank of India’s new guidelines enabling multiple financial services between India and Nepal. Nepali citizens can now send Rs 2 lakh per transaction to Nepal, while walk-in customers can remit Rs 50,000 per transaction. The upcoming Unified Payment Interface-Nepal Clearing House Ltd will further eliminate the […]