Indian plastics firms see growing opportunity in AfricaPlastics News21, 2012) -- As Africa's plastics industry grows, Indian companies say they are picking up substantial business there, with exports rising for machinery firms, and India's resin...
Maersk Line is adding a direct call at India’s Krishnapatnam Port Container Terminal to its Chennai Express Service (CHX), a weekly intra-Asia loop (Maersk Line to Call at Krishnapatnam Terminal http://t.co/QXCWK4Qp...
Canada has banned all imports and export to and from Iran, as a part of its latest efforts to isolate the Islamic Republic. Foreign Minister John Baird made the announcement during a press conference Wednesday in Ottawa.
The shrimp aquaculture production and revenue is expected to increase by five-fold, with the inauguration of new expansion of Aquatic Quarantine Facility in Chennai.
According to Department of Animal Husbandry Dairying and Fisheries, Ministry of Agriculture, Seafood exports recorded an all time high figure of Rs 16,597.23 crore (around $3508.45 million), an increase of around 29% in Rupee terms and around 23% in dollar terms.
Shrimp accounted for around 50% of the value of seafood exports, an all time high of $1740 million foreign exchange earnings.
The increase in shrimp export was achieved mainly by surge in production from aquaculture mainly contributed by the native shrimp species, the black tiger shrimp.
The Ministry of Agriculture added the increased production of vannamei shrimp was one of the major reasons for setting the new high benchmark in seafood exports.
Vannamei was introduced in 2009 in India when there was a downturn in shrimp industry due to exclusive mondon culture and its associate disease outbreak.
RGCA created an additional wing, Phase II funded by National Fisheries Development Board (NFDB), Ministry of Agriculture to quarantine more vannamei brooders keeping the sustainability of the industry in prior focus.
The third and the final phase of the facility is also underway which will boost the total quarantine capacity of the facility to 20 cubicles (quarantine around 2,37,600 brooder per annum) and would facilitate a five fold increase in shrimp aquaculture production and subsequent revenue earnings to the country.
The introduction of Vannamei to India through this approved quarantine premise had benefited in augmenting the marine shrimp production through acquaculture of the country from a level of around 88,000 MT worth Rs 1,915 crore in 2008-09 to about 145600 MT worth Rs 3,585 crore in 2010-11 and to about 224500 MT valued at Rs 6,600 crore in 2011-12.
Since its full fledged introduction, the aquaculture production of vanname rose from 1730 MT in 2009-10 to about 80717 MT in 2011-12, an annual growth of around 584%, thereby increasing its share in the total cultured shrimp production from 1.6% to around 35.9% in two years.
NEW DELHI/SINGAPORE (Reuters) - India is poised to triple wheat exports this year to a higher-than-expected, record 6 million tonnes, helping plug a shortfall in lower-quality grain supplies and keep a...
Vietnamese rice exports topped 2.1 million tonnes in the first four months of 2013, according to data released by the Vietnam Food Association. The figure is a 23.4 percent increase on the same perdiod in 2012. However, it is not all good news as rice prices have fallen by US$30 a tonnes compared to the first four months of 2012. This has led to 280,000 tonnes of rice being cancelled.
INDIA - Indian buffalo meat exports have grown to record levels in the last two years, making India the fourth country in the world to export more than 1 million tons of bovine meat annually, according to the USDA Foreign Agricultural Service.
The world's growing appetite for cheap palm oil is destroying rain forests and amplifying climate change...
Palm oil exports bring Indonesia and neighboring Malaysia $40 billion a year.Yet this profit comes at a terrible toll. Converting forests into oil palm plantations destroys the home of not only orangutans but also such critically endangered creatures as the Sumatran tiger and the Sumatran rhino.
June 26, 2013 Mongabay SMOKE OVER SUMATRA: WHY INDONESIA'S FIRES ARE A GLOBAL CONCERN. As Indonesia’s peatlands are drained and burned, one of the world’s greatest long-term carbon sinks is being transformed into a rapid carbon source . Scientists estimate that during the Indonesian fires of 1997, between 0.81-2.67 gigatons of carbon were released into Earth’s atmosphere (Page et al 2002). This is comparable to 13-40% of the fossil fuels emitted globally that same year, catapulting Indonesia to be ranked the world’s third highest emitter of greenhouse gases (after China and the USA) according to some indices ... http://news.mongabay.com/2013/0626-op-ed-miles-fisher.html
Rice exports from Myanmar may more than double to 1.5 million metric tons this year, an industry group forecast, highlighting the country’s potential to boost overseas trade as its government pursues reform.
ISLAMABAD- The exports of fish and fish preparations surged by 14.69 per cent during the first eight months of current fiscal year (2011-12) against the corresponding period of last year.
The exports of fish and fish preparations were recorded at $195.284 million during July-February (2011-12) as against the exports of $170.274 million during July-February (2010-11), according to data of Pakistan Bureau of Statistics (PBS).
However, in terms of quantity, the fish exports witnessed nominal increase of 0.34 per cent by going up from 74,265 metric tons to 74,518 metric tons.
On month-on-month basis, the seafood exports also witnessed positive growth of 13.88 per cent during February 2012 when compared to the same month of last year.
The fish exports during February 2012 were recorded at $21 million against the exports of $18.441 million during February 2011.
However, as compared to the exports of $21.401 million recorded during January 2012, the exports during February witnessed negative growth of 1.35 per cent, the data revealed.
In terms of quantity, the fish exports increased by 5.57 per cent in February 2012 when compared to the exports of February 2011, however decreased by 2.62 per cent when compared to the exports of January 2012.
The overall food exports from the country witnessed nominal increase of 0.59 per cent during the first eight months by going up from $2.601 billion during July-February (2010-11) to $2.616 billion in July-February (2011-12).
The food products that witnessed increase in exports during the period under review included rice (other than basmati), exports of which increased by 2.91 per cent, fruits (15.02%), leguminous vegetables (1,315%), tobacco (37.85%), oil, seeds, nuts and kernels (59.84%), meat and meat preparation (16.46%) and other food products (45.80%).
The commodities that witnessed negative growth in exports included basmati rice (17.78%), vegetables (36.69%), wheat (53.22%) and spices (1.49%).
The overall exports from the country during the period under review witnessed negative growth of 0.48 per cent by going down from $15.263 billion to $15.189 billion.
Imports into the country during the period increased by 16.36 per cent, from $25.600 billion to $29.788 billion.
Based on the figures, the trade deficit during the first eight months of the current fiscal year was recorded at $14.599 billion, against the deficit of $10.337 billion last year, showing an increase of 41.23 per cent.
The rumblings are getting louder by the day. The Indian government is considering more steps to curb gold imports and is looking to put a cap on the purchases of the precious metal to contain the country's swelling current account deficit.
The world's biggest gold importer has been trying to get its population to buy less of the metal and help bring down the country's import bill.
Late January, the government hiked the import duty on gold and platinum to 6% from 4% to curb imports of the precious metal. However, realising that an import duty hike was in the offing, bullion retailers purchased 23% more gold in January this year, ahead of the duty hike. ...
Egypt's cotton, regarded as the best in the world and affectionately named "white gold", is one of the nation's prized exports. Famed for its long and extra-long fibres that can be spun into fine yarns to weave luxury fabrics, Egyptian cotton is rivalled only by America's Pima version.
The general rate increase (GRI) on reefer lines across most routes and shipping companies is set to hit seafood prices, industry players told Undercurrent News.
The reefer base rates are up between $1,000 and $1,500, sources have said, and Maersk Line, the largest reefer shipping firm in the world, increased its base rate by $1,500 per forty equivalent unit (FFE) with effect from Jan. 1 2013.
This translates, on average, to around a 3% per pound increase in the cost of moving seafood.
“Freight from Vietnam is up $1,500 per 40-foot full container load to New York, so that works out to close to $0.035 per pound,” confirmed Jim Gulkin, managing director of Bangkok-based frozen supplier Siam Canadian Group.
“All the shipping lines increased the ocean freight significantly from January, 2013,” agreed Anh Kiet, sales manager of Vietnamese firm Hung Vuong Seafood.
“The freight is up around $1,000 and $1,500 for all the destination ports. This may lead to the price of products rising about $3 cents per pound or $6 cents per kilogram.”
Sources from several different countries, including the US, Argentina and China, have reported rate increases of at least $1,000, and Maersk Line itself announced a $1,500 base rate global increase in October 2012.
One US wholesaler described the GRI as a huge increase, and said that it would be a considerable factor as the company prepared new bids for buyers.
Another source, a trader of frozen seafood, went as far as to suggest it could stop the trade in the short-term.
A processing executive in Qingdao, China, reported that it was plants who would have to bear the costs, as most of their sales were inclusive of cost and freight.
A sales manager at a US wholesaler told Undercurrent that for companies who had already won contracts and are in the process of fulfilling them, the price rise would be devastating.
“Three cents out of your profits? That’s huge,” he said.
“On a day to day basis you would just raise your prices and pass it on, but it could really hurt some of the smaller companies.”
The freight price increases would not affect everyday business, as the marketplace would absorb the increase on competitively-priced products, said the sales manager.
But for some seafood, the necessary increase in prices would be transferred all the way down the chain to consumers and buyers.
“They get passed right on to our customers – foodservice mainly, plus more general seafood importers. It gets passed right on down the line, and happens pretty darn quick.”
Why the increase?
Several sources suggested it was Maersk Line that led the rate increase, and other lines were quick to follow.
Soren Skou became CEO of Maersk Line in January 2012, and has been vocal about the fact that the reefer business has not been satisfying in terms of profits, having spent a long period making a loss on refrigerated containers.
In a letter to its customers, in which it announced the $1,500 base rate increase, Maersk Line explained that the rates it had been operating on were not financially sustainable.
“Refrigerated containers are almost four times as costly to build as dry containers and associated expenses such as plugs, bunker cost and R&D put pressure on costs,” said the company.
“We are committed to our reefer customers and would like to continue investing in reefer equipment, but the current rates do not make it financially sustainable for us to do so. Given this scenario, we have decided to no longer invest in reefers in 2013.”
It is hoped the increase in rates, coupled with the cut in capacity, can boost earnings for the shipping line.
An executive at one shipping line told Undercurrent they had been surprised by the size of the increase Maersk had announced, but that many lines were happy to follow suit.
How long will rates be up?
Currently, the shipping executive told Undercurrent, the situation is somewhat up in the air. Negotiations are ongoing for many lines and their customers, though negotiations on shipments coming out of Asia are budging less than those heading there, he revealed.
The processing executive in Qingdao suggested that competition would quickly push rates back down again.
“I doubt this increase can hold. Some shipping lines are offering lower prices, and have [only] increased by $500 instead of $1,000,” he said.
“Most factories are now avoiding using high price lines. I believe the price will go down soon.”
This was confirmed by the shipping executive, who said that some lines are settling on an increase of $250 per TEU (twenty-foot equivalent unit, translating to $500 for FFE), and that the validity of these deals is only until the end of January of February.
“Lines who are still asking for $750 per TEU are going to struggle to justify this when other lines are lower, so they will need to come down,” he said.
He added that while lines were likely to give in within a few months, they would be making much better money then they had been in the meantime.
NEW DELHI:India's wheat exports are pegged to touch a record level of 5 million tonnes in the 2012-13 marketing season on the back of all time high harvest and large carryover stocks, United Nation's body FAO said.
Via CIMMYT, Int.
Marine products exports from Odisha to grow 20% in FY14: MPEDA Business Standard Speaking on the occasion, Leena Nair, chairman of MPEDA said, “A large chunk of marine products exports from Odisha comes from the shrimps but it has been stagnating...
Fibre2fashion.comPakistan textile exports to EU may jump 30%: PTEAFibre2fashion.comPakistani textile exports to the EU are likely to rise by 30 percent, due to the EU granting duty-free access to 75 Pakistani items, mostly textiles and apparels.
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