Indias iron and steel exports to major markets slip over 40%
The Dollar Business Bureau Hit by a weak economic sentiment globally, mainly in the commodity market, India’s iron and steel exports dropped by over 40% to $4.57 billion in September this year from $7.69 billion a year ago. According to Engineering Export Promotion Council (EEPC), a massive fall in shipments to the USA, Italy, UAE, Bangladesh and Nepal, among others, resulted in fall of India’s primary iron and steel exports in September. The EEPC said that countries like Belgium, China and Iran provided some relief even as the setback in the exports of these items gave a severe blow to the country’s total engineering exports. “The year-on-year September fall in iron and steel is more than cumulative decline during April-September period against ...
Indian agriculture products fail to stand global competition: Expert
Himanshu Vatsa | The Dollar Business Falling prices in the global commodity market led to negative growth in India’s exports of major agriculture items, including tea, cereals, tobacco and oil meals, last year. According to the annual data released by the Ministry of Commerce, six of the 11 key agricultural export products – tea, cereals, tobacco, spices, oil meals, and fruits and vegetables— recorded negative growth between April 2014 and March 2015. Of the six major items, oil meals witnessed the biggest fall of 52.73%, reducing the total exports value from US$ 2,796 million in 2013-14 to just US$ 1,321 million last year. At the same time, exports of rice, coffee and cashew also witnessed only marginal changes as ...
Common clearing system for all commodity exchanges
Dated December 24, 2014 | Pausha 3, 1936 | Government calls for public feedback/comments on the report of the working group on road map and structure for a common clearing system for all commodity exchanges in the country The Government of India is in the process of strengthening the clearing and settlement system for commodity future trading in the country. As a part of this process, Department of Economic Affairs vide its order dated 10th June 2014 had set-up a Working Group to prepare a road map and structure for a common clearing system for all commodity exchanges in the country in order to reduce transaction cost of market participants as well as to strengthen the risk management systems. The ...
