Import/Export Industry Notifications

The Indian polymer producers have restarted their plants and were building up inventories to service both, a lift in export orders and in anticipation of a rise in demand post a nationwide lifting of the lockdown across India. The demand from China for select polymers has lifted. Given that polymer prices are currently quite attractive, inquiries for Indian PP, PE and PVC have reportedly lifted.

Click Here To See The Official Notification

Closed shutters of major fashion retailers in the US and EU countries along with other developed nations owing to the ongoing Covid-19 lockdown has left textile mills baffled with around 80% orders cancelled in the last couple of months. The coronavirus lockdown has taken a severe toll on textiles facing high cancellations from across the globe. Demand in the apparels segment has shrunk as most front-end retail stores in developed countries are shut since the last eight weeks.

Click Here To See The Official Notification

The Marine Products Export Development Authority (MPEDA) announced that it has developed a testing protocol for formaldehyde adulteration in seafood. This adulteration poses serious challenges on food safety and has the potential to become an irritant in India's seafood exports to various markets. A validated method for detecting formaldehyde in seafood is by using high-performance liquid chromatography (HPLC).

Click Here To See The Official Notification

American and European retailers are filing for bankruptcies due to the coronavirus pandemic crisis. The Indian creditors who have unsecured outstanding dues with the companies are feeling the pressure. It is estimated that the Indian creditors have outstanding dues in excess of $50 million.

Click Here To See The Official Notification

The EU has raised the restrictions on capsicum imported from India and Pakistan due to the high rate of non-compliance with pesticide norms. They have made it mandatory for shipments to be accompanied by an official certificate stating that the items were free of pesticide residues.

Click Here To See The Official Notification

Malaysia has contracted to import a record 100,000 tonnes of rice from India for shipment this month and in a further sign of improving trade relations between the countries after a diplomatic spat. Since Myanmar, Vietnam and Cambodia have placed temporary curbs on exports to save the grain for themselves, Malaysia imports twice the average annual volume of rice in the last 5 years, from India.

Click Here To See The Official Notification

Basmati exporters have asked the growers to increase the area under cultivation, saying that they have orders in hand, despite the COVID-19 pandemic affecting most other sectors of the economy. The orders are from West Asia, Arabian countries, Europe, Canada and the US. The exports of basmati from the country were expected to touch Rs 40,000 crore this year with an increase of 15% over Rs 35,000 crore last year.

Click Here To See The Official Notification

The government decided to deregulate essential commodity trade and introduce a Central law to ease inter-state farm trade overriding the APMC mandis. The proposed trade will complement whatever limited APMC reforms that have been undertaken by some states in recent months.

Click Here To See The Official Notification

Finance Minister Nirmala Sitharaman has announced Rs 20,000 crore to promote fishing activities in India to boost production and exports in the sector. The funds will be used for plugging critical gaps in the fisheries value chain.

Click Here To See The Official Notification