India to soon allow 300,000 tons of raw sugar imports

NEW DELHI: India will soon allow imports of 300,000 tonnes of raw sugar on the country’s southern ports, a government source said on Tuesday. “The imports will be allowed in a day or two,” the source added.
India’s food minister said on Monday the country would soon take a decision on the need to import sugar.

Brazil soy exports hit all-time High in August, Association says

Brazilian soy exports hit an all-time high for the month of August, an industry association said, as many farmers resumed sales after delaying shipments in hopes of securing better prices amid a bumper 2016/17 crop.
According to cereals exporter association Anec, Brazil shipped 5.7 million tonnes of the oilseeds last month, about 500,000 tonnes above August 2015, which until now had seen the highest volume for the month yet.
Brazil has so far this year exported 57.6 million tonnes of the grain. The data show exports are on track to reach Anec's 62 million tonne export forecast in 2017, the association said.
"This is the best result for soy exports within the same calendar year, even considering we are still four months away from yearend," Anec said.
Brazil will export at least 3.2 million tonnes of soybeans in September, Anec predicted.
In a statement, Anec also revised its annual corn export forecast to 32 million tonnes from 30 million tonnes after a 67 percent annual rise in August exported volumes.

soybeans exports

Iran begins honey exports to Africa

TEHRAN, Sep. 03 (MNA) – An Iranian official says that interactions with a representative of South Africa at Iran’s Chamber of Cooperatives yielded in the deal to export Iran’s honey to the African country.
“The export of the honey produced by Iranian beekeepers cooperatives to South Africa is one of the results of having the commerce attaché of this country in the meetings of the agriculture commission of the Chamber of Cooperatives,” said Alireza Banaiefar, the Director of the International Affairs at Iran’s Chamber of Cooperatives on Sunday.

“Developing trade relations with 7 countries is on the top of the agenda, considering that the representatives of Brazil, India, Russia, Bosnia and Herzegovina, Turkey, Malaysia, and South Korea are present at Iran’s Chamber of Cooperatives,” reassured the Iranian official.

The Director of the International Affairs at the chamber recounted that more than 100,000 cooperatives have been registered with a total number of 12,000,000 members which provide services to more than 40,000,000 people. He also highlighted that the cooperatives are active in more than 120 fields of agriculture which makes the sector attractive for investment.

The official affirmed that the active presence of the commerce attaché of South Africa in the technical meetings of agriculture commission increased interaction between Iranian beekeepers and fruited in the export of Iran produce of honey to South Africa. Beekeepers managed to sell their sweet, sticky wares, using this opportunity,” he said.

Honey Exports Imports

India's garment exports may hit $20 billion in FY18

MUMBAI: India's garment exports are expected to register a 15-18 per cent growth to touch USD 20 billion during the current fiscal following improved market conditions in US and other markets.

"We have clocked 15 per cent growth in garment exports at USD 17 billion in FY17. We expect 15-18 per cent in current fiscal to register exports of USD 20 billion.

"The US market, which consists of 30 per cent market share is doing reasonably well and we are also looking at good exports potential to South America, European, Middle East and Japanese markets this year," Clothing Manufacturers Association of India (CMAI) president Rahul Mehta told PTI here.
Due to the world recession and heavy competition from China, Bangladesh and Vietnam, India could not fulfill the export target for the year 2016-17.

However, there has been a growth in export to the tune of 13 per cent in dollar terms, in the last 5-6 months. This has been mainly due to the favourable special apparel package announced in July 2016.

"We are strong player in spring and summer wear, but we need to increase exports of autumn and winter wear, which we hope to do in coming years," he said.

Mehta said demonetisation last year had not hit the industry and proposed GST (Goods and Services Tax) rates implementation is also unlikely to impact the industry adversely.

Whilst welcoming the GST, Mehta said there could be some confusion and uncertainty for initial 2-3 months for manufacturers and dealers. However, in the long run, it will be beneficial to the garment industry.

The government has accepted most of the recommendations made by CMAI, and keeping a majority of the industry under the 5 per cent GST slab, he said.
Although, there is some concern among fabric manufacturers for the 5 per cent duty. The government has also accepted CMAI's request to reduce the GST applicable on job work from 18 per cent to 5 per cent, but unfortunately this has been done only up to the fabric stage, Mehta said.
Job working in garmenting still attracts 18 per cent GST. This will be a major blow to the small manufacturer, most of whom follow the job work basis of manufacturing. CMAI has requested the government to reconsider this obvious anomaly and reduce GST on job working at the garment stage to 5 per cent.
To showcase the business opportunity, CMAI is organising 65th national garment fair, the largest apparel trade show in Mumbai from July 10-12.
The B2B fair will be spread over approximately 6 lakh square feet, covering all the halls at the Bombay Exhibition Centre.

The trade show will have 881 stalls displaying 1005 brands by 822 exhibitors.

Garment exports India

Garment exports imports

Brazil's new 20 pct ethanol import tax rule takes effect

SAO PAULO, Sept 1 (Reuters) - New rules governing Brazil's ethanol imports, which slap a 20 percent penalty for volumes above a tax-free import quota, took effect on Friday, authorities said.
Brazil's foreign trade chamber Camex said in an official written resolution that the rules will be valid for two years.
It is the first time that Brazil has taxed ethanol imports, with the government reversing its position of avoiding taxes on the biofuel's trade, following complaints from local producers about rising imports. The government had opposed an import tax so as to encourage use of the biofuel worldwide, enabling it to boost exports of the fuel, a stance it shared with the United States.
U.S. producers will be the hardest hit by the Brazilian tax, since almost all imports come from the United States.
Camex said 600 million liters of ethanol will be allowed in per year tax free but it will be broken down by quarter. Once imports have surpassed 150 million liters in any given quarter, the 20 percent tax will begin.
It also said the Trade Ministry will work on complementary legislation looking to define how the tax-free quota will be divided among ethanol importing companies.
A report by local broadcaster BandNews on Friday said some importers had rushed to guarantee as much as 500 million liters of ethanol importing licenses before the new rule's publication. Reuters could not immediately confirm the information.
The import restriction comes at a time when ethanol sales are rising in Brazil, due to a recent change in local PIS/Cofins taxation that made the biofuel more competitive against gasoline at the pump.
Sales of hydrous ethanol, the type used by flex-fuel cars popular in Brazil, jumped 14 percent in Brazil's center-south in the first half of August.
Some analysts expect ethanol to get a larger boost this week after Petrobras increased gasoline prices by almost 7 percent in the last two days, following higher values in the international market due to the Harvey storm in the U.S.
That situation could shift more cane to ethanol production at Brazilian mills, reducing the amount of sugar output.

 ethanol import , Brazil

India Cotton yarn exports down 9.79% in Apr- July

India exported 283.18 million kilograms of Cotton yarn worth $916 million in the April–July period of the current financial, down 9.79% year-on-year, according to latest data compiled by the apex industry body Cotton Textiles Export Promotion Council (Texprocil).
The decline is largely attributed to slow pick up from China and Bangladesh, the two large destinations comprising around 50 per cent of overall shipments from India.

Exports to China have declined by a staggering 48.58 per cent during the April–July period in 2017.
“Vietnam is gaining market share at the cost of India mainly due to zero tariff on imports to China. Whereas imports from India attract a tariff of 3.5 to 5 per cent, Texprocil noted.

Apart from that, Chinese textiles mills have invested immensely in textile and apparel sector in Vietnam. So, they are buying back yarn to China from their own manufacturing units, thereby, cutting down imports from other countries including India, Texprocil said.

India's Cotton yarn industry has also suffered a hit due to GST levy of 5% that came to force after the goods and services tax (GST) was rolled out on July 1. Since Cotton yarn manufacturers never paid any taxes in the past, compliance under the GST regime brought the entire business to a standstill, even before the July 1 deadline.

Cotton Yarn Exports  India

Commerce Ministry extends window for raw sugar export to US till October

NEW DELHI: The commerce ministry has extended the last date of raw sugar export to the US under tariff rate quota (TRQ) till October 31.
TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. Once the quota is reached, a higher tariff kicks in on additional imports.
"The last date of export of raw sugar to the US under TRQ quota for the US fiscal year 2017 (October 1, 2016 to September 30, 2017) has been extended till October 31 this year," the Directorate General of Foreign Trade (DGFT) has said in a public notice.
India enjoys import duty-free sugar exports to the US for up to 10,000 tonnes annually under preferential quota arrangement.
India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well.

Sugar Exports India