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19 Jun, 2024 News Image PM Modi addresses farmers, says he wants Indian products on every dining table in world.
Addressing a PM Kisan Samman Sammelan, Modi said, 'We have to think about the global market. We have to become self-reliant in pulses and oilseeds and a leader in agricultural exports. Look, 'Langda' mango of Banaras, Jaunpur's radish, Ghazipur's lady finger, and many such products are reaching the foreign market today.' 
 
He said that with the 'one district one product' initiative and the formation of hubs at the district level, exports are increasing.

 Source:  www.deccanherald.com
19 Jun, 2024 News Image Don t extend ban on de-oiled rice bran beyond July, says SEA.
Cooking oil industry body Solvdnt Extractors’ Association has requested the central government to not extend the ban on export of de-oiled ricebran beyond July 31.
 
India usually export about 5 to 6 lakh tons of Deoiled Ricebran mainly to Vietnam, Thailand and other Asian countries.

 Source:  economictimes.indiatimes.com
19 Jun, 2024 News Image UK overtakes China as India's fourth-largest export market in May.
The United Kingdom (UK) has overtaken China to become India’s fourth-largest export market in May, commerce department data showed. The UK was India’s sixth-largest export destination in May last year.
 
While exports to the UK grew by a third to $1.37 billion in May, the shipments to China saw 3 per cent growth at $1.33 billion last month

 Source:  www.business-standard.com
19 Jun, 2024 News Image Horticulture plays a large role in India's agricultural diversification.

The transformation into a foodgrain-surplus nation was significantly influenced by the Green Revolution in India. However, this achievement came with its own set of challenges including groundwater depletion, soil fertility decline, and excessive use of pesticides and fertilizers. This situation prompted a shift towards diversifying agriculture with an emphasis on high-value crops like fruits, vegetables, and flowers, thereby enhancing horticulture's prominence in the agricultural sector. Horticulture not only promises to increase farm income but also ensures livelihood security and has the potential to earn foreign exchange. This sector has become an attractive avenue for small and marginal farmers.


 Source:  www.freshplaza.com
19 Jun, 2024 News Image India's Soyameal Exports Soar by 8% Amidst Strong West Asian Demand.
Summary
 
India’s soyameal exports grew by 8% from October to May 2023-24, driven by strong demand from West Asia, reaching 16.41 lakh tonnes. Despite lower domestic consumption, crushing activities increased, and production rose to 68.26 lakh tonnes. Soyabean stocks decreased to 45.71 lakh tonnes, while imports and balance stocks saw a rise. Major buyers included Iran, UAE, Bangladesh, and Nepal.
 
Highlights
 
Increased Soyameal Exports: India’s soyameal exports surged by approximately 8% during the October-May period of the 2023-24 oil year. This increase was fueled by a growing demand from West Asia, with the total exports reaching 16.41 lakh tonnes compared to 15.16 lakh tonnes in the same period of the previous year. This highlights a robust international market for Indian soyameal despite domestic challenges.

 Source:  in.investing.com
19 Jun, 2024 News Image Government proposes export obligation period review for certain sectors.
The government on Tuesday proposed to amend the export obligation period for wheat, raw sugar, natural rubber, spices, pharmaceuticals and tea, among other sectors to facilitate their exports.
 
India allows duty free import of inputs used for manufacturing for exports subject in advance authorisation to export obligation period in which exporters have to ship the goods within a stipulated time period otherwise they’re penalised.

 Source:  economictimes.indiatimes.com
18 Jun, 2024 News Image India s total exports estimated to grow at 10.25 % in May 2024; cumulative overall exports during April-May 2024 estimated to grow at 9.21%.

India’s total exports (Merchandise and Services combined) for May 2024* is estimated at USD 68.29 Billion, registering a positive growth of 10.25 percent vis-à-vis May 2023.Total imports (Merchandise and Services combined) for May 2024* is estimated at USD 79.20 Billion, registering a positive growth of 7.95 percent vis-à-vis May 2023.


 Source:  pib.gov.in
18 Jun, 2024 News Image India, Oman to sign free trade agreement soon

As part of its 100-day action plan, Prime Minister Narendra Modi’s government is targeting the signing of a free trade agreement (FTA) with Oman soon, and has put in place a standard operating procedure to speed up negotiations with other trading par...


 Source:  deccanherald.com
18 Jun, 2024 News Image Govt s 100 days programme may include launch of Edible Oil Mission.
The Union government’s 100 days programme, likely to be announced soon, may include launching the much-awaited National Mission on Oilseeds under which the Agriculture Ministry targets to raise domestic oilseeds production by additional 2-3 million tonnes (mt) by 2025-26 from current about 40-41 mt and to further lower India’s import dependency on edible oils.
 

 Source:  thehindubusinessline.com
18 Jun, 2024 News Image India looks to sign FTA after UK elections, 8th round of talks soon.

The long-awaited trade deal between India and Britain is likely to be signed after the completion of elections in the United Kingdom as the officials of India and the United Kingdom met virtually on May 7 last month.


 Source:  economictimes.indiatimes.com