Duty-free imports of yellow peas may be allowed beyond April - Exportify Pulse Edition - March 18, 2024
Duty-free imports of yellow peas may be allowed beyond April
New Delhi: India may allow duty-free imports of yellow peas, which are used in place of chana, beyond April to keep the pulses inflation under control as the yield of chana is expected to be low on account of a decline in acreage and lower productivity, said an official.
"Yellow pea imports are expected to help offset the anticipated shortfall in the supply of chana as the domestic crop is projected to be lower than that last year on drop in acreage and weather impacting the yields," said the official, who did not wish to be identified.
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Exports rise 11.9% to 11-month high in February
New Delhi: Buoyed by increased shipments of engineering goods, electronic items and pharmaceutical products, India recorded the highest goods exports in a month in this financial year so far in February, even as the merchandise trade deficit widened, showed data released on Friday.
Merchandise exports increased 11.9% year-on-year to an 11-month high of $41.40 billion in February, while imports increased 12.2% a four-month high of $60.11 billion, led by gold imports which went up 133% to $6.15 billion.
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India's oilmeals export up 9 pc to nearly 5.16 lakh tonne in Feb on higher soyameal shipments
New Delhi, Oilmeals export rose 9 per cent year-on-year in February to nearly 5.16 lakh tonnes on higher outward shipments of soyabean meal, according to trade data. In a statement on Friday, Solvent Extraction of India (SEA) said the export of oilmeals in February stood at 515,704 tonne as compared to 4,71,770 tonne in the year-ago period.
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Of the total oilmeals export last month, the shipments of soyabean meal stood at 3,47,905 tonne and rapeseed meal 1,44,372 tonne.
The data showed that the total export of oilmeals during the April-February period of this fiscal increased 19 per cent to 44,90,055 tonne as compared to 37,60,329 tonne in the corresponding period of the previous year.
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Trade deficit widens to $18.7 billion in February; imports, exports rise 12.2%, 11.9% YoY
India's trade deficit widened to $18.71 billion in February this year, after hitting a nine-month low in the month before, government said on Friday.
Economists had pegged India's February trade deficit at $18.30 billion, as per a Reuters poll.
India's trade deficit in January 2024 stood at $17.5 billion while in February 2023, it was $16.6 billion. A narrowing trade deficit tends to help limit India’s current account deficit and strengthen the Rupee, which has been leading among Asian currencies in terms of performance this year.
Merchandise imports in February rose 12.2 per cent on a year-on-year basis to $60.11 billion. In January, imports stood at $54.4 billion. Exports increased by 11.9 per cent on an annual basis to $41.4 billion. In January, exports stood at $36.9 billion.
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