Wednesday, July 19, 2017

Coffee exports may fall 15 to 20% this year

KOCHI: Indian coffee exports are likely to fall 15-20% in the current year as exporters haven’t got enough orders for the coming months.

As per Coffee Board’s export data for the period from January 1 to July 17, 2017, the total export volumes were at 2,16,926 tonnes –– a marginal drop compared to same period last year. “But in the coming months, the drop will widen,” said Ramesh Rajah, president of the Coffee Exporters Association of India.

“Towards the end of last year, we had taken fewer orders as growers had estimated a 30% drop. But in the end it was down by only 10%. Whatever orders we had have been shipped. Now it is difficult to find buyers as they have bought from other origins,” Rajah said.
The Coffee Board’s total coffee production estimate for 2016-17 was 3,16,700 tonnes with 2,20,500 tonnes of robusta and 96,200 tonnes of arabica.

Global robusta coffee futures prices, after rising to over $2,200 per tonne in January, declined by $200 in subsequent months. It has again touched $2,126 per tonne now. “Arrivals decreased in the market as growers expected better prices. Though prices are up now, buying has slackened,” said MP Deviah, general manager of Allansons, a major exporter.

Exporters are pinning their hopes on next year’s crop, which again is likely to fall short because of inadequate rains in the coffee-growing regions of Karnataka and Kerala. While growers had predicted a steep drop in arabica last year, they feel robusta, which accounts for nearly 70% of the total coffee output in the country, will be hit in the next crop.

“There is not enough ground water and the south west monsoon has been poor. Though the coffee blossoms were good, the formation of robusta berries has been hit by inadequate showers. So our calculation is the production could be down by 30%,” said MM Chengappa, chairman, Karnataka Planters’ Association

Wayanad, the coffee-growing region of Kerala, has been declared most rain deficient. “Intermittent rain and sunshine has resulted in the onset of blackrot (a fungal disease) in the shrubs here. Given the present condition, the crop should be lower by 15% here,” said Prashant Rajesh, secretary of Wayanad Coffee Growers Association.

Meanwhile, coffee auctions held once a week in Bengaluru has been hit after introduction of GST. Only a small percentage of the production is auctioned. The nil duty and 5% tax rates for coffee beans have confused traders.
Coffee Exports Data

Saturday, July 15, 2017

India's export up 4.39 % in June

NEW DELHI: India's export grew by 4.39 per cent to $ 23.56 billion in June as shipments of chemicals, engineering and marine products improved, according to the official data released today.Import too rose by 19 per cent to $ 36.52 billion in June from $ 30.68 billion in the year-ago month due to rise in inward shipments of oil and gold.
A rise in import shot up the country's trade deficit to $ 12.96 billion in the month under review from $ 8.11 billion in June 2016, the data released by the Commerce Ministry showed.
Gold import rose to $ 2.45 billion in June against $ 1.20 billion in the same month last year.
Oil import was valued at $ 8.12 billion in the month, an increase of 12.04 per cent over the same in June 2016.
Export in the first quarter of 2017-18 rose by 10.57 per cent to $ 72.21 billion while import surged 32.78 per cent to $ 112.2 billion, leaving a trade deficit of $ 40 billion.

Friday, July 14, 2017

'India's exports to top ten destinations increased to 51.6 pc'

India's exports to top ten destinations have gained strength as the share of top ten destinations has increased to 51.6 percent in 2016-17 from 49 percent in 2013-14, said Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

The decline in exports growth rate was also less with top ten destinations as compared with rest of the economies.
Export volume to top ten export destinations declined 7.7 percent from USD 154.05 billion to 142.55 billion in 2016-17 whereas export volume to rest of the economies declined 16.6 percent from USD 160.36 billion in 2013-14 to USD 133.73 billion in 2016-17.
India's overall merchandise exports declined 12 percent during the same period from 2013-14 to 2016-17 from USD 314 billion to USD 276 billion.
Despite overall slowdown in exports growth, it is inspiring to know that India's merchandise exports to USA grew from USD 39.14 billion in 2013-14 to USD 42.33 billion in 2016-17 showing a growth of 8.1 percent with the World's largest economy, said Jiwarajka on Wednesday in New Delhi.  
However, India's exports to China declined 31 percent from USD 14.82 billion in 2013-14 to USD 10.2 billion in 2016-17.
Nearly 53 percent of the India's  exports to USA are in the form of consumer goods, followed by intermediate goods (29 percent), capital goods (12 percent) and raw materials (6 percent).
India and USA have consistently increased their intra-industry trade over the last many years, said Jiwarajka.

Going ahead, scope for enhancing the present intra-industry trade between India and USA is immense, he said.

India's products' export pattern has grown tremendously in tandem with the import pattern of USA. The alignment has recently witnessed a jump in 2016 indicating the demand pattern of USA has been inclined more and more in favour of supply pattern of India, he added.

Considering the steady trade pattern with USA, our exports to USA are seen at USD 50 billion by the next financial year 2018-19, said Gopal Jiwarajka

Exports to UAE also increased from USD 30.52 billion in 2013-14 to USD 31.3 billion during the same period showing a growth of 2.5 percent, said Jiwarajka.

Hong Kong has superseded China as the 3rd biggest export destination for India on the back of rising demand of Indian products in Hong Kong. 

India's exports to Hong Kong grew 11.2 percent from USD 12.73 billion in 2013-14 to USD 14.2 billion in 2016-17, he said.
Going ahead, we are hopeful that our exports will touch USD 325 billion mark in the current financial year 2017-18, Jiwarajka added.

India’s top 10 exported commodities

In continuation with the double digit growth exhibited by exports during February 2017, exports during March 2017 have shown a significant growth of 27.59 per cent in dollar terms, valued at USD 29,232.05 million as compared to USD 22,911.74 million during March 2016.

Cumulative value of exports for the period April-March 2016-17 was USD 2,74,645.10 million (Rs 18,41,314.39 crore) as against USD 2,62,290.11 million (Rs 17,16,377.99 crore) registering a positive growth of 4.71 per cent in Dollar terms and a positive growth of 7.28 per cent in Rupee terms over the same period last year. Exports contribute around four per cent to India's gross economic output.

India's main export products are cotton, textiles, jute goods, tea, coffee, cocoa products, rice, wheat, pickles, mango pulp, juices, jams, preserved vegetables etc. India exports its goods to some of the leading countries of the world such as UK, Belgium, USA, China, Russia etc.

During 2014, 10 commodities were exported the most and fetched foreign currency for India.
Here are the top 10 commodities that are exported from India.

1  Petroleum products:
Oil-based products and crude oil giants such as Hindustan Petroleum Corporation Limited, Bharat Petroleum, Reliance Petroleum, ONGC and et al have contributed largely to the export sector of India. Although the country is hugely dependent on oil imports, export of oil-based products has supported the economy to a large extent.

2. Jewellery :

The term 'jewellery' here includes gold, gemstones and similar materials. India consumes around 20 per cent of the global gold production and 75 per cent of that amount goes into making jewellery. The jewellery sector is also supported by banks and government policies so that the industry does not fall drastically. Around 30 per cent of Indian jewellery gets exported to the United States alone. Other such countries include Hong Kong, UAE, Singapore and Belgium.

3. Automobile :
From 2008 to 2013, the Indian automobile export sector has seen a rise 17 per cent, one of the fastest economic growths that has ever taken place in the sector. Being one of the leading steel producers in the world, India invests largely on the automobile sector and its export.
There has been a 10.5 per cent increase in the export of heavy machinery from India. These include cars, pumps, heavy machines, building construction tools, agricultural equipment and so on.

5. Bio-chemicals :
Manufacturing bio-chemicals is a nationwide business in India. The sector contributes hugely to the national economy and is an essential part of it. Manufacturers and exporters are spread all over the country. Research facilities have also supported this sector to a large extent.

6. Pharmaceuticals :
Being a research-based industry, the pharmaceuticals sector in India has seen a huge growth over the past few decades. Major pharma industries such as J. B. Chemicals and Pharmaceuticals Limited, Suven Life Sciences Limited, Dr. Reddy's Laboratories, Aurobindo Pharma, Luipin, Ranbaxy, Sun Pharma, Zydus Cadila, Glowchem and Calyx play a huge role in promoting the sector to the world market.

7. Cereals :
India is one the leading exporters of cereals and the second largest producer of rice. Being an agriculture-driven country, India depends largely on its produce of cereals and so does the importer countries such as Iran, Saudi Arabia, Indonesia, UAE and Bangladesh.

8. Iron and steel:
Before Independence, India used to depend on its import of iron and steel. But now, the country has gone through such an industrial growth that it has become the fourth largest steel producer in the world. Steel tycoons such as TISCO, IISCO, Bhilai Iron and Steel Centre, and Visweswaraya Iron And Steel Limited play a major role in the iron and steel export from India.

9.Textile :
Textile is India's trump card when it comes to exports. India tops the chart in jute production and also holds 63 per cent of the global market share in textiles and garments.

10. Electronics:
When it comes to manufacturing electronic equipment, India is still seen as an importing country. However, the export part of this sector thrives silently yet largely. India has the third largest pool of electronic scientists and engineers and the domestic demand of electronic goods propels the industry to grow faster and stronger, making export all the more important.
Search Live India Exports Data & Top Exporters List

Thursday, July 13, 2017

GSTIN not necessary if exempt goods imported, exported

NEW DELHI: Importers and exporters of goods that are exempt under the goods and services tax (GST) do not need to obtain a GST registration number and can clear their consignments by quoting their Permanent Account Number (PAN), the customs department has said.

The department issued the clarification amid reports of some consignments being delayed at ports for want of clarity on rules governing the GST regime. It is being clarified and assured that there is no hold up of import and export consignments, wherever goods and services taxpayer identification number (GSTIN) is legally not required, the department said.

“Importers, exporters and customs brokers are requested to quote authorised PAN in the bills of entry or shipping bills for such clearance,” the Maharashtra wing of customs department said in a public notice. GSTIN is a 15-digit unique code assigned to each registered business or trader.

It replaces TIN (taxpayer identification number), the unique 11-digit number allotted to each business entity that was registered with the commercial tax department in the previous indirect tax regime. The Central GST Act exempts businesses engaged exclusively in the supply of goods (import and export) that are exempt from GST from obtaining registration under the new indirect tax regime.

The customs department in Maharashtra, which handles the largest container port of Nhava Sheva, has now clarified that PAN will be sufficient for clearance at ports for goods that do not require registration under GST. “Difficulty, if any, may also be brought to the notice of deputy / assistant commissioner in charge of appraising main (export) through email/phones,” the notice said.

Fur ther, Di rectorate of International Customs has been set up on July 1 to assist Central Board of Excise and Customs (CBEC) in international matters pertaining to customs, integrated GST and tariff matters. The DIC would be headed by a principal commissioner and will report to CBEC chairman.

Tuesday, July 11, 2017

Rice exporters write to Arun Jaitley seeking change in GST norms

The All India Rice Exporters’ Association (AIREA), the industry body that lobbies for rice traders and exporters, has written to finance minister Arun Jaitley, seeking a change in the current goods and services tax (GST) norms to bring all rice brands under the 5% tax net.
Under the current norms, GST on staples such as rice, wheat and cereals is zero. But branded ones with trademark registration will attract GST of 5%.
In a letter to Jaitley, dated 6 July, AIREA president Vijay Setia said that only 10% of the rice brands in India have a trademark registration. The current norm will benefit the “companies with Rs 2,000 crore revenue and above as their brands are not registered with Trade Mark Act 1999 due to some legal and technical issues.”

According to Setia, this will result in no traders willing to stock the registered branded products as they would like to stay out of the GST net.

The country’s largest selling rice brand India Gate, owned by KRBL Ltd, does not have the trademark registration, Mint reported on 6 July. Three other brands of KRBL, namely India Farm, Lotus and Unity, are also not trademarked. However, KRBL uses the trademark sign on the packages of India Gate basmati rice.
LT Foods Ltd, which sells basmati rice under the Daawat brand, has the trademark registration for only a few variants of Daawat.

Amritsar-based rice company Amar Singh Chawal Wala, the seller of Lal Qilla basmati rice, has also written to Jaitley expressing concern on the same.However, the finance ministry had on 5 July issued a clarification stating that “registered brand name” is a brand name or a trade name “which is registered under the Trade Marks Act, 1999” and should be on “the Register of Trade Marks and remain in force”.

AIREA became vocal after KRBL, on 3 July, wrote to its distributors saying that four of the company’s brands, including India Gate, are not registered in Class 30 under the Trade Marks Act 1999, hence “nil” GST rate is applicable on them. Before GST kicked in on 1 July, branded rice companies were either exempt from tax or were paying 5% value-added tax depending on the state where the products were sold.
Rice Exporters - Indian Rice Exporters

“We are following the government norms,” said a KRBL spokesperson. LT Foods declined to comment on the issue.

Meanwhile, the government is likely to relook at the current tax structure on rice and other edible commodities as established brands are taking advantage of the current rules to claim exemptions from GST, according to a 7 July report in The Economic Times.

Friday, July 7, 2017

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Argentina Import ,Export & Trade Records

                                                   Argentina Export Import Data 

Total value of exports: US$68.5 billion

Primary exports - commodities: soybeans and derivatives, petroleum and gas, vehicles, corn, wheat

Primary exports partners: Brazil (18.78 percent), China (9.26 percent), Chile (7.11 percent), US (6.38 percent)

Total value of imports: US$56.44 billion

Primary imports - commodities: machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics

Primary imports partners: Brazil (31.12 percent), US (13.69 percent), China (10.26 percent), Germany (4.69 percent)

        Argentina Import Data & Importers list

soybeans Imports data  and derivatives import data, petroleum import data and gas import data, vehicles import data, corn import data, wheat import data

China coal imports rise in November despite push against pollution

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