A tax of 0.01% is levied on exchange-traded commodity derivatives apart from other taxes.
Indian merchants peg potential cotton exports from India to Pakistan at $1.5-2 billion.
The prices of pulses have been rising over the past 2 weeks, due to crop damage brought on by heavy rains in western and central parts of the country. In Delhi, some pulses have become costlier by about 12%. Prerana Desai, head of research at Edelweiss Agri Services & Credit, said prices have risen in part due to the import restriction imposed by the government.
“Achieving an agriculture export target of $60 billion by 2022 does not look ambitious, given the current global market conditions. More so, because India’s export basket largely comprises meat, marine products, and basmati rice whose demand in the world market is on constant increase,” said Tarun Bajaj, GM, APEDA.
While the rice industry says more than Rs 2,000 crore has yet to be reimbursed to Indian traders, tea and sugar traders said that payments have been delayed by a fortnight to a month.
However, prices on the NCDEX for January delivery are 3 per cent lower than those a year ago.
The Netherlands is the second largest exporter of agricultural products in the world (2018: US$ 100 billion) and has vast experience in managing supply chains for fresh vegetables, food and flowers to market destinations all over the world.
The retail prices of major fertilisers have lowered by 17% which means farmers have to shell out lesser money for the same this rabi season due to a decrease in the global prices of fertiliser components. Urea prices however, have remained steady.
The MCX copper November contract too increased in tandem.
According to industry data, of the 4,00,000 tonnes quota for tur, 1,36,000 tonnes have already been imported.
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