Import/Export Industry Notifications

After an increase in soyameal exports in recent months, the shipments are slowing down as overseas buyers avoid the expensive Indian oilmeal.

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The Ministry of Agriculture and Farmers Welfare has informed that a total of eight thousand 665 applications worth eight thousand 216 crore rupees have been received for the fund. The largest share of 58% has been contributed by Primary Agricultural Credit Societies followed by agri-entrepreneurs and individual farmers.

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On Monday, the State Cabinet gave its permission to implement the nationwide micro food processing scheme proposed by Prime Minister Narendra Modi under the Atma Nirbhar Yojana. Under the scheme, processing local food products under the one-district-one-product plan will be encouraged, and units will be encouraged with tax rebates and assistance to help raise the necessary capital.

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Exports of agrochemicals from India to Ukraine is not sizable. In this regard, the council has also been requested to identify specific trade-related issues faced by Agrochemical exporters in Ukraine. Members are therefore requested to provide details of such SPS/TBT or any other trade-related problems and possible impact on the exports in Ukraine.

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Crisil explained that the resale value of a 20-year-old truck is less than a 15-year-old truck, so scrapping makes sense. However, in the base case, the potential benefit is less than the truck's resale value, so scrapping does not make sense.

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The suspension of cargo flights by China's state-run Sichuan Airlines to India is affecting raw material imports from China and disrupting the Indian pharma industry, which is at the forefront of fighting all diseases, including Covid-19.

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According to maritime consultant Drewry, the “short-sighted” approach by shipping lines is driving the degeneration of relationships with their contract shipper customers that could harm them in the future.

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The first quarter was a good one for Rotterdam and Antwerp, but with terminals fully stretched as the ports face operational challenges in the weeks ahead.

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Vessels are waiting up to five days for a berth at Chittagong port. This is adding to the distress of importers during the lockdown and the month of Ramadan. Port officials say during Ramadan, working hours at the port have dropped, resulting in less productivity and longer queues for an unloading window.

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