Oilmeal exports surge 23% in May
India recorded a 23-per cent rise in oilmeal exports in May, as compared to the same month last year. As per provisional data compiled by the Solvent Extractors’ Association of India (SEA), export of oilmeals in May is reported at 2,47,879 tonnes as compared to 2,01,768 tonnes in May 2019.
The rise in exports is attributed to the sharp increase in rapeseed meal exports at 1,44,244 tonnes, nearly double from 72,895 tonnes recorded in May 2019.
The overall export of oil meals during the first two months of this fiscal — April and May — provisionally stood at 3,49,880 tonnes, about 23 percent lower as compared to 4,56,353 tonnes in the corresponding period last year.
WTO: India against easing farm export tariffs amid Covid
India has questioned the rationale of joint statements issued by some countries at the World Trade Organization (WTO) pushing for greater opening of markets for agricultural products. It has argued that for developing countries, export restrictions are a tool to prevent domestic shortages and are essential.
The country made a case against permanent tariff concessions or a dilution of the tariff bindings at a special meeting of the Committee on Agriculture (CoA) in Geneva recently. “Members reviewed a number of farm-support packages and export-restrictive measures adopted as response to the Covid-19 crisis,” a trade official in Geneva told BusinessLine.
Cardamom losing aroma as Covid-19, price drop sap demand in upcountry markets
Cardamom seems to be losing its aroma in these Covid-19 times, and dwindling prices have led to subdued demand across India’s major consuming markets.
Delhi is considered the main market for cardamom — from here, the capsules are distributed to Punjab, Uttar Pradesh and Haryana, among other States. But the alarming pandemic situation has badly hit the sales of this spice. Gujarat, the single-largest consuming centre, and Vashi, in Mumbai, have also been affected by the deadly virus. Thus, the emerging situation across the upcountry markets has impacted the demand as well as the purchasing capacity of consumers, traders said.
From the level of ₹3,300 per kg before the lockdown in March, the average price in the auctions now has dropped to ₹1,150 per kg.