India imports large quantity of cocoa beans and powder to bridge the gap between supply and demand in the domestic market. As per the data of International Cocoa Organisation, the cocoa prices stood at $2,687.24 per tonne on Thursday, around 20% increase year-on-year.
Exporters reckon that as framing a new foreign policy will take time, the present scheme is likely to continue. Cashew export has been declining in the last few years with the rise of Vietnam as a major exporter of the commodity.
Besides insufficient production, a rise in direct imports by China after its stricter monitoring of illegal border trade with Vietnam has also contributed to growth in its seafood imports.
Unseasonal rain in Karnataka, the biggest coffee producing state in the country, has hindered arabica coffee harvest, which normally starts by the end of November.
Kerala finance minister Thomas Issac said he hopes to train around 100 engineering graduates in the dynamics of geo textiles and send them across the country as brand ambassadors to market the product. ``They will act as startups for geotextiles and the government will provide all support to them,’’ he said on the side lines of international coir meet called Coir Kerala being held in Alappuzha.
India exports around Rs 18,000 crore worth of spices annually and over the years its dominance has come down to a few spices such as chilli, cumin, turmeric and spice oils and oleoresins from around 20 items. Exporters claim duty credits ranging from 2-7 % under MEIS which they discovered were disabled by DGFT from August 1, resulting in a slowdown in shipments.
Indian cashew exporters were able to compete effectively with Vietnam, largest exporter of the nut.
The solution SMARTShip is an Internet of Things (IOT) platform that enables on board operation of multiple systems.
Levy could hit the industry as it is a key ingredient in shrimp and fish feed
The global arabica futures prices fell to a 13-year low and robusta futures to a nine-year low during May this year.
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