Search Result for : Rice Exports

The Dollar Business Bureau Maersk Line India, the global containerised division of Maersk Group, announced on Monday that it is introducing export and import service offerings at Kakinada Port in Andhra Pradesh. “This end-to-end service (store door) will enable customers in the region to reach global touch points,” the company said in a statement. With this first time offering in Kakinada, Maersk Line will be able to containerise cargo at its origin, cut out wastage and complexities of dealing with multiple vendors and help move it to port in a cost-effective manner, the statement said. “This will have a direct bearing on rice farmers and growers in the region that would benefit from the ease that it brings and makes customers compete successfully in ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), India’s leading consumer goods company, said on Friday that it has completed the deal to sellits rice exports division to LT Foods Ltd. “With respect to the sale of rice export business of HUL carried out primarily under the brands ‘Gold Seal Indus Valley’ and ‘Rozana’, to LT Foods Middle East DMMC, a group Company of LT Foods India Ltd, the company has now completed the said transaction,” the FMCG major said in a filing to BSE. In another filing, LT Foods Ltd said, “To further enhance the company’s global expansion strategy, the buying of these famous brands of HUL will serve as a significant milestone in the path of LT Foods and support the firm’s position ...

The Dollar Business Bureau Hindustan Unilever Ltd (HUL), a leading Indian FMCG company, has got the approval of the fair trade regulator Competition Commission of India (CCI), for selling its business of rice exports to LT Foods Ltd. The pact, which was announced in March 2016, permits transfer of HUL’s brands and inventory of Rs.25 crore to Delhi-based LT Foods, which holds the basmati rice brand - Dawat.   In a tweet, the fair trade regulator said that it has given its approval to the “acquisition of HUL’s rice business by LT Foods.” The FMCG major’s decision to sell its rice business is in sync with its strategy to withdraw from non-core operations while continuing to stimulate its growth plan in the core segment ...

India is likely to export 10 lakh tonnes of rice to Indonesia which is valued at Rs 3300 crore, this year. The Dollar Business Bureau The country has a surplus of 160 lakh tonnes of rice stocks against the required 76 lakh tonnes as figures show on January 1   India is likely to export 10 lakh tonnes of rice to Indonesia which is valued at Rs 3300 crore, this year. Though this may come as a surprise to many, the Indian government has clarified that it is in a comfortable position to extend the rice deal to Indonesia. The country has a surplus of 160 lakh tonnes of rice stocks against the required 76 lakh tonnes as figures show on January 1. ...

Deepak Kumar | The Dollar Business Weak global demand and shortfall in domestic production have led to a steep fall in India’s export of agricultural products in the past few months, say experts. In September this year, the export of 8 out of 10 key agricultural products witnessed a negative growth with cereals registering the steepest decline of almost 64%, the latest government data showed. Industry experts have attributed the downward trend to the weak demand in the European market, devaluation of Chinese yuan and lesser domestic production. “Several factors including devaluation of yuan and market crisis in the European Union have led to a considerable fall in exports. Domestic production has also been hit. Overall we are seeing a decline; both ...

Deepak Kumar  | The Dollar Business Expressing concerns over continuous fall in overseas shipments, export bodies have called for immediate intervention from the government to draw a roadmap to boost the international trade. On Monday, the Director General of Foreign Trade (DGFT) is likely to hold a meeting with exporters and discuss measures to revive the sector. “We have a meeting with the DGFT on Monday next week. We have been requesting the government for over two-three months to set up a meeting with all the council chairmen, who will discuss about the major hindrances before the industry,” S C Ralhan, President of the Federation of Indian Export Organisations (FIEO), told the Dollar Business. Ralhan said the government must look into some ...

The Dollar Business Bureau | @TheDollarBiz Rice exporters have won the contest against government intervention and populist policies in Thailand. No wonder, the country notched up two points to fetch the 26th rank in World Bank’s latest Ease of Doing Business (for the year ending May 31, 2014) despite the political turmoil it has seen in the last few years. Interestingly, in the “Trading Across Borders” sub-index, Thailand has dropped three places to 36. And the country’s rice support programme, which was discontinued earlier this year by the caretaker government, could be one of the reasons. The Thai government under Yingluck Shinawatra started the ambitious rice pledging program in 2011 as a part of its electoral promise. Against the ...

Bidhu Bhushan Palo | @TheDollarBiz While earnings from agriculture exports are expected to decline slightly due to the prevailing low prices of commodities, India’s overall import bill is expected to decline significantly due to lower prices of oil and gold in 2014-15, which will help reduce the country’s trade deficit. Earlier this month, the World Bank projected that prices of most primary commodities have declined since last year and are expected to remain weak in the remaining months of 2014 and through much of 2015. The trend is partly due to a slowdown in the Euro Area and emerging economies, a strong US dollar, increased oil supplies, and good crop prospects. There are several positives in the changes for ...