The export of spices which was at a modest level of Rs 785.89 crore in 1995-1996 has recorded multifold rise to cross Rs 3,000 crore mark by February this year.
A Spices Board (India) Spokesman told UNI here that turmeric (whole) and paprika Oleoresin from Tamil Nadu, black pepper from Kerala and Karnataka, mustard, corriander and dill seeds from Rajasthan and other such spices and condiments are gaining popularity in various countries like Poland, Israel, Lativia, Slovakia, Nepal, Ukrain, Turkey and Saudi Arabia.
He said export of spices which was targeted at Rs 2,500 crore during 2006-2007 had already exceeded the target and crossed Rs 3,020 crore mark by February end this year and was expected to go up around Rs 3,500 crore by the March end.
As compared to the achievement, the export earnings from these commodities were Rs 2,100 crore in 2005-2006, the spokesman said. Read more
Russia’s PGM licensing auithorities have now cleared Norilsk Nickel to recommence shipments of platinum, rhodium, iridium, osmium, and ruthenium.
The federal Ministry of Economic Development and Trade Ministry told Mineweb that the export licences required — delayed since January 1 — were formally re-issued on April 23. The public announcement was then delayed for two days.
Norilsk Nickel told Mineweb it has read press announcements, but has yet to confirm the details directly and officially.
The new export authorization is good to the end of 2008. Sergei Gorny is the government official in charge of the licensing process, and his government agency, Almazjuvelirexport, is the commission Read more
KARACHI - (APP) - Export of Pakistani rice, both basmati and coarse rice will be increased by at least 10 per cent in quantity and 15 to 20 per cent by value this fiscal. Chairman Rice Exporter Association of Pakistan (REAP) Abdul Aziz Maniya said here Thursday that the international prices of basmati rice have surged by 35 to 40 per cent since November 2006, due to crop shortage in leading rice producing countries.
“The average price of basmati is $ 850 per ton now, rising from $ 650 per ton last year from November 2006. Similarly, 30 per cent broken IRRI-6 is exported at $ 265 per ton. This was $ 215 per ton at the start of the seasonâ€, he added.
Maniya said that 5 per cent broken is about $ 300 per ton. This was 250 per ton in November. Read more
The leading Iranian diesel automotive manufacturer, Iran Khodro Diesel (IKD), says it will export heavy and commercial vehicles to Gambia.
Deputy managing director of IKD for export affairs Ali Ebrahimi and Gambia’s Foreign Minister Bala Garba Jahumpa signed the $ 2b deal for export of heavy and commercial vehicles, including buses and trucks, to Gambia, IRNA news agency has reported.
Addressing the ceremony held for signing the deal, the Gambian Foreign Minister said, “Gambia has planned to secure bulk of the needs of its transportation fleet from IKD given the Company’s increasing capability in manufacturing and designing various kinds of vehicles.”
“Expansion of ties between Iran and Gambia is a major factor for our tendency to purchase such vehicles from Iran”, he noted. Read more
In what could cause concern to India, Russia has reportedly permitted China to re-export its RD-93 fighter engines to Pakistan.
“This permission will enable the supply of 150 Chinese JF-17 fighter aircrafts to Pakistan, and help implement the contract for the supply of Russian engines worth USD 238 million,” Russian daily ‘Kommersant’ reported today.
Quoting a Kremlin official, the daily said said that Russia and China have agreed on the joint assembly of JF-17 fighter aircraft with RD-93 engines, and their supply to third countries.
RD-93 engines were initially developed by Russia for modernisation of MiG-29 frontline fighters.
According to Kommersant, under the Sino-Russian Fighter Assembly Agreement, third countries Read more
Reuters) - Indian shares rose 0.6 percent on Wednesday, led by gains in banks and Reliance Industries Ltd., but export-focused software services firms fell as the rupee climbed to a fresh nine-year high.
Banks were propelled higher after the central bank held interest rates steady at its policy review on Tuesday, raising hopes demand for loans would remain strong.
The benchmark 30-issue BSE index ended up 0.57 percent, or 81.05 points, at 14,217.77, with 18 components gaining. The index is 3.4 percent below a record high of 14,723.88 hit on Feb. 9.
“Although the sentiment is positive, we should stall somewhere at these levels,” said Jayant Pai, vice president of equity sales at Parag Parikh Financial Services. Read more
The apparel industry, which is one of the largest employment generators of the Indian economy, had made a comeback in 2005, posting record production and exports growth, fuelled by the opening of new opportunities after removal of quotas. From a gradual decline in the growth rate in 2006, exports have actually stared falling in 2007. The first actual decline in exports to US was reported in January 2007. The trends in exports to US is an important indicator of the overall health of the sector as it accounts for 35% of apparel exports from India.
February 2007 has seen 2.9% decline in exports to US in quantity term. This can be largely contributed to the 1.05% appreciation in rupee during February, 07 compared to January, 07. The appreciation is detrimental to the exporters, it makes the exports costlier forcing suppliers to move to lower cost sourcing destinations or shifting the imports from India to lower value goods. This is evident from the decline in quantity terms and the 10.5% decline in unit value Read more
The textile industry, one of the largest employment generators in India, has reported a 6.3 per cent dip in exports growth due to rupee appreciation.
Apparel Export Promotion Council(AEPC) Chairman Vijay Agarwal expressed his concerns over the appreciation in the value of rupee in a letter issued to the Textile, Commerce and Finance Ministers.
”Export receipts of apparel exporters decreased from Rs 20,484 crore in the first half of 2006-07 to Rs 19181 crore during second half of the year, given the same rate of exports. This is a dip of 6.3 per cents in export revenues,” he said.
An Apparel Export Promotion Council release said today that exports have actually started falling Read more
MUMBAI: Onion prices, which had shot up sharply a few months back, have now tumbled on increased arrivals and exports controls by the federal government, officials and exporters said.
“Farmers in all onion producing states are busy harvesting. Market arrivals increased substantially and prices are falling,†CB Holkar, vice chairman of National Agricultural Co-operative Marketing Federation of India (Nafed), told Reuters on Thursday.
Wholesale prices in India’s largest onion trading hub, Lasalgaon in Maharashtra state, have eased to Rs 400 a quintal, from Rs 1,500 in February. Retail prices have fallen from a peak of Rs 25 a kg to about Rs 8 in Mumbai. “The minimum export price (MEP) is too high and export is impeded at this price,†Holkar said. Read more
Sennheiser Electronic Corporation is happy to announce the promotion of Oliver Baumann to VP Export for the Latin American market. Since it is one of Sennheiser’s fastest growing markets, the promise of even greater sales places unique demands on Baumann in his new position. It seems unlikely that the company could have selected a more qualified candidate to rise to that challenge.
Born to German parents and raised in Latin America, Baumann is fluent in English, German, Spanish, and Portuguese. Perhaps more importantly, his cultural competency spans the hemisphere and allows him to communicate with and anticipate the needs of Sennheiser’s Latin American customers. Baumann has been with Sennheiser for ten years, always in Latin America, working in market development and sales managerial positions. Baumann replaces Greg Beebe, who was recently appointed director of global relations for Sennheiser. Read more
