Pulses exporters want a 10 percent cash subsidy to boost exports - Exportify Pulse Edition - June 24, 2022

Pulses exporters want a 10 percent cash subsidy to boost exports

Pulses exporters and traders have urged the government to reintroduce cash subsidies on the exports of pulses to help farmers at a time when chana, or chickpea, prices have slipped much below the minimum support price (MSP) due to record production.

Pulses industry associations have written to the commerce and agriculture ministries, seeking a cash subsidy of 10% to boost exports of chana that is being sold at ?43 per kg at the farmgate level against an MSP of ?52.30 per kg. The government had two years back withdrawn a cash subsidy of 7% on pulses exports. Read More

India likely to impose a ceiling on next season's sugar exports

India is likely to impose a ceiling on?sugar exports?for a second straight year starting this October, aiming to ensure ample domestic supplies and keep a lid on local prices, industry and government sources said on Friday.

India, the world's biggest sugar producer, could cap exports of the sweetener at 6 million to 7 million tonnes in the 2022/23 October-September season, about one-third less than the total to be shipped out in the current season, industry and government sources said. They asked not to be named as they were not authorized to speak to media. India's steel exports are expected to come down by 40 percent to 12 million tonnes (MT) in the ongoing fiscal, as a result of the duty-related measures taken by the government last month, according to CRISIL. Read More

Duty-related measures to cut India's steel exports by 40% in FY23

The export of finished steel had reached a record high of 18.3 million tonnes in the 2021-22 financial year and the prices were at their all-time high, the agency said on Monday.

On May 21, the government announced waiving of customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry. Also, the duty on exports of iron ore was hiked by up to 50 percent and for a few steel intermediaries to 15 percent. "India's steel exports will drop 35-40 per cent to 10-12 million tonnes this fiscal following the 15 per cent export duty imposed on several finished steel products last month. Exports of iron ore and pellets will also fall this fiscal, and lower domestic prices," the CRISIL research Read More

Rise in flour exports after wheat import curbs under government scanner

The steep rise in export of atta (wheat flour) post the strict controls imposed on wheat exports has come under the scanner of the central government. It may soon take steps to ensure that traders don’t use the atta export to beat government restrictions.

Responding to whether the government is considering any restriction Sudhanshu Pandey said, "The government is monitoring the prices and after monitoring the government will take the the appropriate step. Ultimately monitoring is necessary because wheat, if is regulated, it should not so happen that wheat gets converted into excessive quantity of atta and that gets exported. So, you have to maintain a balance and monitor if the trend is abnormal or normal."

In response to a supplementary he said the trend of atta export is "on the higher side" when compared to the last year. Officials said around 2.6 lakh tonnes of atta have been shipped out of the country since this April. According to industry insiders, earlier the monthly export of atta during April to June was around 8,000 tonnes Read More

EDITORS NOTE

India, EU trade pact to help open doors for several domestic sectors The proposed free trade agreement with the European Union, when implemented, will provide greater market access for several domestic sectors such as textiles, leather, and sports goods in the EU market, commerce, and industry minister Piyush Goyal said on Monday.

After a gap of over eight years, India and the EU on June 17 formally resumed negotiations for agreements on trade, investments, and Geographical Indications (GI).The next round of negotiations will take place from June 27 till July 1 here. India had started negotiations for a trade pact, dubbed the Bilateral Trade and Investment Agreement (BTIA), with the 27-country economic bloc in 2007, but the talks stalled in 2013 as both sides failed to reach an agreement on key issues, including customs duties on automobiles and spirits, and the movement of professionals.

Goyal said that the EU is a large market with 27 countries which are prosperous. It is one of the largest trading blocs, having a big share of the world's market.

Source: Economic Times