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Consumer Affairs Secretary Leena Nandan said that to prevent the onion crisis this year, the central government is boosting the kitchen staple's buffer stock by 100%. “We are building a buffer stock of 2 LMT this year- double of last year’s buffer size.”

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The Ministry of New and Renewable Energy (MNRE) recently imposed an essential customs duty (BCD) of 40% on solar modules and 25% on solar cells, starting April 1, 2022.

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Growth in banana exports was seen both in quantity and in value terms in the past three financial years. Countries that imports fruits have preferred bananas over grapes, mangoes or apples in the fresh fruit basket.

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Procedure/ modalities for imports of 2 LMT of Pigeon Peas from Mozambique under the MoU is laid down.

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Indian trade got severely affected by an acute shortage of marine containers since October 2020 because of the global equipment imbalance. However, the government and the trade has understood to aggressively restart container manufacturing locally and be less dependent on China, which has a monopoly with over 90 per cent market share globally.

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As per Freightos Baltic Index (FBX), the spot rate for North Europe is $7,684 per 40ft, down from more than $8,000 at the beginning of the month. Container spot rates from Asia may have eased slightly from their record highs post-Chinese new year, but rates for backhaul and secondary trades continue to head north.

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The Centre has permitted imports of 4 lakh tonnes of tur and 1.5 lakh tonnes of moong for 2021-22 to meet the shortfall in domestic supplies. In its latest notification, the Ministry of Commerce and Industry has also allowed traders to import these pulses and the millers and refiners.

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Throughout Q4 of 2020 (October to December), Indian containerised trade grew 13.2% compared to the same period in 2019. This was the first time in the year when both exports and imports rose in a quarter. Exports from India had shown a V-shaped recovery since mid-Q3, whilst imports remained subdued for a long time due to low demand in the market.

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Engineering goods declined by 5% in February (year-on-year) 2021 to $6.5 billion after posting a growth of 16.46% the previous month as shipments to the US, the largest market, declined.

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