The Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar, accompanied by a high level delegation of the Ministry, arrived in Bali, Indonesia today on a three day visit to ???????????? the G-20 Summit. Shri Tomar held separate bilateral meetings with the Canadian Minister of Agriculture and Agri-Food Ms. Marie-Claude Bibeau and Australia Assistant Minister for Trade and Manufacturing, Mr. Tim Ayres in Bali.

 

In his bilateral meetings, Shri Tomar extended invitation to both the ministers for the G-20 Agri-Summit to be hosted by India next year. Besides, he sought their support for the International Year of Millets - 2023 to be celebrated under India's stewardship. The Australian and Canadian Ministers assured their cooperation. 

The commerce ministry will extend the existing foreign trade policy (FTP) (2015-20) by another six months till March 2023, additional secretary Amit Yadav said on Monday.

 

The current Foreign Trade Policy (FTP) was to end on September 30.

 

Additional Secretary in the Department of Commerce, Amit Yadav, said there were demands from different quarters, including industry associations and export promotion councils, to extend the policy and not introduce a new policy at this time.

 

They have stated that currently there are challenges like global uncertainties and currency fluctuations.

 

There was also a view to align the rollout of the new policy with the new financial year.

 

The commerce and industry ministry had earlier announced that it will release the new FTP by the end of this month.

Indian tea exporters are getting interest from the United Arab Emirates and sanctions-hit Russia and Iran to pay in rupees, a nod toward the government’s plan to settle international trade in the local currency.

 

Buyers from those countries are keen to pay rupees for Indian shipments, said P.K. Bhattacharya, secretary general of the Tea Association of India, an industry group that mainly represents producers in northern regions. This follows the central bank’s push to internationalize the currency, he added.

 

'With Russia, it might see the light of the day sooner, but for other countries it might take more time,' Bhattacharya said.

 

The Reserve Bank of India in July announced a plan to allow overseas trade to be settled in rupees. The move will make it easier for Indian companies to trade with countries facing difficulties invoicing in the US dollar, such as Russia and Iran. It also aims to arrest the rupee’s plunge to an all-time low against the greenback and help reduce a trade deficit that has ballooned to a record.

 

A greater use of the rupee in tea trade is an encouraging sign, but it’s unlikely to boost the currency’s status in a major way. That’s because the rupee’s use will mainly be restricted to those countries with limited choice.

 

'Tea is a niche industry, so it helps really at the margin but does not move the needle much as far as the trade balance is concerned,' said Madhavi Arora, lead economist at Emkay Global Financial Services Ltd.

 

A study by Federal Reserve Bank of New York staff found that financial sanctions on Russia following its invasion of Ukraine could encourage de-dollarization by other countries anxious to avoid similar moves against them, but the dollar’s prime international status will remain unrivaled.

 

There are other benefits to using the rupee in trade. Such an arrangement will help India accelerate its trade with countries like Russia and Iran.

 

India’s tea exports could jump as much as 18% this year to about 230 million kilograms from 195.5 million kilograms in 2021, said Sujit Patra, secretary of the Indian Tea Association, which represents 60% of the nation’s production.

 

Markets like Iraq, Syria, Turkey and Poland, which have traditionally bought tea from Sri Lanka, are also looking to India, Patra said. An economic crisis has crippled Sri Lanka’s tea industry, slashing production and overseas sales.

 

Bhansali and Company, an Indian tea exporter, has received inquiries about rupee payment from Russia, Iran and the UAE, said Director Anish Bhansali.

 

The new rupee mechanism will help facilitate trade with Iran as funds under a separate rupee-rial arrangement have dwindled, said Azam Monem, director of Mcleod Russel India Ltd., one of the country’s biggest tea producers. He added that Bangladesh and the UAE are good candidates for the new program.

Union Home and Cooperation Minister Amit Shah on Monday appealed to the farmers in Ahmedabad district to adopt natural farming in a big way so that they can completely do away with urea in the next five years.

 

On the harmful effects of urea, Shah said that the fertiliser is causing cancer in consumers.

 

'Urea-fed grains cause cancer for the consumers. This isn't good for them as well as for the growers. It is possible to do natural farming on 21 acres with one cow. And it has been proved that the yield is 1.25 times more,' said Shah addressing the farmers from rural Ahmedabad.

 

Gujarat already has over three lakh farmers undertaking natural farming.

 

Shah also urged farmers to visit farms where natural farming is done, learn from their practices and experiences, and replicate on their fields.

 

'Lets bring natural farming to Ahmedabad district in such a way that in five years from now, we don't see a single bag of urea in this district,' Shah said.

 

On the prospects for the farmers, Shah stated that a cooperative society will be set up to market organic produce.

 

'In a short-time, we will have a new multi-State cooperative society that facilitate exports of farm produce. This will be based on the Amul-Model.'

 

Shah also stressed the need to have standard soil and product testing platforms for organic products.

 

Currently there are no marketing or testing mechanisms for such products. Arrangements are being made to develop such platforms and market organic products under the Amul brand, Shah added.

 

Amit Shah is on two-day visit to Gujarat to launch several development projects in Ahmedabad and Gandhinagar—the Minister’s parliamentary constituency. The State goes to the polls in about a month with BJP and Congress gearing for the crucial elections.

In a big boost to the government's export vision for India, the first-ever consignment of plant-based meat products was exported to the US. The government facilitated the export of plant-based meat products under the vegan food category through its apex export promotion body -- Agricultural and Processed Food Products Export Authority (APEDA).

 

The plant-based meat product consignment included an assorted variety of items. India sent 5,000 kg worth of mini samosas, hot and spicy strips, momos, spring rolls, nuggets, and grilled patty, among other products, the Ministry of Commerce & Industry said in a statement on Thursday.

 

'With the growing popularity of vegan food products in developed countries, the plant-based food products have a huge export potential in the international market due to the high nutrient value of the vegan food products,' the ministry said.

 

The consignment was shipped from Nadiad in the Kheda district of Gujarat to California, US. With the high nutritional value of vegan food products, complete with rich fibre and lesser cholesterol contents, people are turning to the new food alternative across the globe.

 

'The Indian plant-based industry is maturing at a breakneck speed both in terms of the quality and variety that it is able to offer. We are delighted to see this consignment heading for the USA —which is one of the biggest markets currently for plant-based foods. It is a market with clear and stringent benchmarks for acceptable standards. This is just the beginning, and there is a long way for us to go as an industry,' Pradeep Rao, co-founder and CEO of Evolved Foods, told International Business Times. 

 

'Given the unique whole-muscle texture of our product(s), we are seeing significant demand coming from East Asia, Europe, and Middle East markets due to the growing consumer demand for plant-based, cruelty-free meats,' he added.

 

Animal meat exports to remain unaffected

 

The government's aim is to promote plant-based meat products without disturbing the conventional animal-based meat export market, APEDA chairman M Angamuthu said.

 

'The APEDA has planned to promote a variety of vegan foods products, including pancake, snacks, cheese, etc, to the countries of Australia, Israel, New Zealand and others in coming months,' the ministry said.

 

India's exports of animal products in 2021-22 were Rs 30,953 crores, which includes major products like buffalo meat, accounting for the majority value worth Rs 24613.24 crores, followed by sheep and goat meat (Rs 447.58 crores), poultry products (Rs 529.80 crores), and more. India had emerged as the largest producer of milk with a 20.75 percent share in total milk production in the world in 2020. The demand for Indian buffalo meat in the international market has also sparked a sudden increase in meat exports.

Stakeholders in the sugar industry on Monday arrived at a consensus that India could export 7-8 million tonnes (mt) of sugar by April 30 in the next season starting October 1. 

 

In a meeting called by the Directorate-General of Foreign Trade (DGFT) in which representatives of the Food Ministry, Agricultural and Processed Food Export Development Authority, All India Sugar Trade Association (AISTA), Indian Sugar Mills Association (ISMA), Maharashtra Sugar Mills Federation and National Cooperative Sugar Factories Federation took part, the stakeholders also agreed that there will be a mandatory review of the demand-supply situation taking into account the final estimate of sugar production for the next season. 

 

Goyal to take final decision

'We can export 7 mt of sugar next season by April 30. Exports will be subject to mandatory review in February taking into consideration the interest of domestic consumers,' said Praful Vithalani, President, AISTA. 

 

Commerce and Food Minister Piyush Goyal will take a final call on the exports after going through the minutes of the meeting called by the DGFT. The meeting unanimously agreed that sugar production next season would be 36 mt going by the current situation, though a final picture will be available in February. 

 

At least 70 per cent of those who attended the meeting favour allowing sugar exports under the open general licence (OGL) but ISMA favoured a mill-wise quota. 

 

If a mill-wise export quota were to be announced by the Centre, then it should not be tradeable, the participants said, since it would result in two contracts. One would paper licence quota and the other one matching the international market price. This could result in India ending up missing the export window available until April before Brazilian sugar enters the market.  

 

The stakeholders are of the view that India should take advantage of the current prices on the InterContinental Exchange (ICE), New York, for March contracts. On Monday, March contracts were trading at 17.88 cents a pound (Rs.32,400 a tonne). 

 

'Our carryover stock as of October 1 this year will be 6 mt compared with 8.5 mt in October last year. Taking into account an additional diversion of 1.5 mt of sugar for ethanol, we have to make up for a lesser availability of 4 mt. Thus, it will be necessary to review the production and export situation in March,' Vithalani said. 

 

This season, a record of over 11 mt of sugar has been exported with the Centre capping the exports from June 1 at 10 mt. However, it later allowed shipments of an additional 1.2 mt, most of them raw sugar.

 

Rahil Shaikh, Managing Director, MEIR Commodities India, said 1-1.2 mt of sugar can be exported every month between November and March.  

 

According to the Ministry of Agriculture, sugarcane production this year is expected to be a record 465.05 million tonnes. The Indian Sugar Mills Association (ISMA) has estimated next season’s sugar production at 35.5 mt, but a section of the industry has projected production at 37 mt. This is after 4.5 mt of sugar production is diverted towards the production of ethanol. 

 

Centre’s concerns

The Centre’s concern in March-April will be the availability of ample sugar for domestic consumption. Industry sources said domestic consumption is on the rise and is projected to be 27.5 mt next season against 26.55 mt this season. 

 

'The OGL format for exports will be better since exporters can ship sugar when the situation is right for them,' said Shaikh.  

 

 Prices seen under pressure

Meanwhile, UK-based diversified global financial services platform Marex said reports of India exporting 5 mt had filled any supply gap the global market might have had. With projections of a higher Brazil crop, sugar prices could be under pressure, it said. 

 

Last week, Marex said Indian mill may not sell raw sugar unless spot prices in New York were 18.50 cents a pound (Rs.33,550 a tonne) or above. 'In a couple of weeks’ time, spot NY will be based on March rather than October, i.e. some 35 points lower than October. So, we are not likely to run into a wall of selling, especially as a release of 5 mt might have a bullish effect on Indian domestic price,' it said. 

 

Meanwhile, white sugar is ruling at a huge premium of over $100 a tonne with December contracts ruling at $540.90 a tonne (Rs.44,125). 

 

Maharashtra competitive

'It will be better for mills located around ports to export sugar than those in interior parts,' said Shaikh. 

 

Maharashtra mills are quoting sugar at least Rs.2,000 a tonne lower than Uttar Pradesh units. The trade is of the view that the industry as a whole can coordinate to export sugar rather than work in silos. It is of the view that mills are likely to take advantage of the current situation in the global market.

 

 Currently, the average price of sugar offered by Uttar Pradesh mills is Rs.36,933 a tonne compared with Rs.35,710 quoted by Maharashtra mills. 

It’s record-breaking sales streak during Onam and the sudden surge in demand has prompted the Kerala State Cashew Development Corporation (KSCDC) to seek Geographical Indication (GI) tag for Kerala cashew. Since mechanised processing has become too common in many places, getting the tag for drum-roasted cashew processed in the traditional method will mark its exclusivity.

 

'We have been producing high quality nuts in various grades that are superior to similar stuff available on market. The quality of our product is unbeatable and we are planning to apply for GI tag as part of the efforts to promote the brand,' KSCDC chairman S.Jayamohan told The Hindu. After achieving the best-ever sales since its inception this Onam, the corporation is planning to approach the governments of other States to include the product in their Deepavali kits. 'During the Sabarimala season our Pampa outlet had generated a revenue of ?30 lakh in five days and currently the corporation is getting a lot of online orders from Tamil Nadu, Karnataka and Andhra Pradesh. After sampling our products, customers usually continue to buy from us,' he says. Government-run factories functioning under the KSCDC and Kerala State Cashew Workers Apex Industrial Cooperative Society (Capex) had registered record sales in September with various outlets selling products worth ?20 crore. They had earlier supplied around 87 lakh sachets to be incorporated into Onam kits. According to officials, KSCDC’s 30 factories and 102 major outlets in Kerala witnessed a huge rush during the period while their mobile marketing unit also did good business.

 

'Apart from cashew nuts, 18 value-added products including cashew vita, jam, soup, soda and powder were sold in large quantities. Our mobile unit launched during Onam continues to do brisk business.'

 

Recently the KSCDC had entered into a contract with the Kerala State Cooperative Consumer’s Federation and Supplyco to sell its products through their marketing outlets. After the industry was badly hit by the dip in the export volume and shortage of raw material imported from cashew cultivating countries, the KSCDC and Capex had focussed on the domestic market to keep the industry afloat.

 

Exporters body FIEO on Monday said it has planned a series of activities in the Gulf Cooperation Council (GCC) markets to push India's exports. The GCC was established in May 1981. Its members are Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the UAE.

 

Indian exports to the GCC grew by 44 per cent in 2021-22 to USD 43.9 billion compared to USD 27.8 billion in 2020-21, according to FIEO.

 

'Our export performance in the GCC in 2021-22 has been marvellous. Apart from the UAE, our exports to Saudi Arabia grew by 49 per cent, Oman by 33 per cent, Qatar by 43 per cent, Kuwait by 17 per cent and exports to Bahrain increased by 70 per cent,' said Ajay Sahai, Director-General of FIEO.

 

In the current financial year, FIEO has planned various activities -- including exhibitions, B2B delegations, interactive sessions and capacity-building programmes -- to increase India's export to the region, FIEO President A Sakthivel said.

 

FIEO members are here to participate in the Super Sourcing Dubai (SSD) show.

 

He said FIEO members have participated in exhibitions and trade activities in Qatar, Egypt, Jordan, Oman, UAE and Saudi Arabia and there are even more activities lined up in Bahrain, Kuwait, Iraq, Oman and the UAE.

 

Sahai said that huge business opportunities are there for Indian industry in the UAE post implementation of a trade pact between the two countries.

 

India and the UAE signed a comprehensive economic partnership agreement in February this year, and it came into force on May 1.

 

The export prospects will further scale up since zero-duty access for Indian products to the UAE is expected to expand over 5-10 years to 97 per cent of UAE tariff lines or 99 per cent of Indian exports by value, Sahai said.

 

SSD is an exclusive show for Indian exporters to get connected with decision-makers in the supermarkets, hypermarkets, retail chains, buying agents and importers in the Middle East, GCC and African region.

 

The 2nd edition of Kerala Spice Conference & Exposition organised by Spices Board, CII Kerala, and CII Food and Agriculture Centre of Excellence (FACE) with the theme ‘Value Creation in Spices — Global Market’ will be held on September 27 & 28 at Hotel Le Meridien Kochi.

 

The spice conference will deliberate on promoting the State as a spice hub, creating global standards, new trends, and promoting Kerala spices to the global market. The objective of the conference is to position Kerala as a spice and a safe food destination to expand more global markets. The conference will bring together the spice and value-added spice industry.

 

P Rajeeve, Minister for Industries & Commerce & Plantation Directorate will inaugurate the conference on September 27. It is expected to facilitate tangible and intangible benefits to the spices sector and to Kerala, in the form of exposure to the latest innovations.

 

Varied topics covered

The key stakeholders would get a platform to discuss the challenges and opportunities in achieving strong growth in the spices industry and to share the global best practices.

 

Some of the salient topics to be covered during the course of two days include Value Addition in Spices — the way forward with a focus on cardamom, pepper, ginger, turmeric, etc; pesticide usage in spices and issues associated with it — what can states do; sustainability and technology for the spices industry; strategies for biodiversity-friendly farming; global marketing — opportunities and challenges; focus for Farmer Producer Organisations (FPOs) — sharing best models of good agriculture practices & certifications.

 

The event is supported by Mane Kancor Ingredients Pvt Ltd, Synthite Industries Ltd, Akay Natural Ingredients Private Limited, JB Brothers, Brahmins Foods India Pvt Ltd, Eastern, and Kerala Start-up Mission.

A team of scientists from the Indian Council of Agricultural Research (ICAR) - National Research Centre on Pomegranate (NRCP). has completed the genome sequencing for pomegranate, known as a wonder fruit to many. For the uninitiated, this means that for the first time anywhere in the India, the ICAR-NRCP team at Solapur, Maharashtra has been able to identify all the bases of DNA material in perfect sequence in the process unlocking several genetic mysteries such as identifying particular genes responsible for sweetness, seed softness or colour of the fruit, those responsible for disease and pest resistance, and those for the enlargement of the fruit size, among others.

 

The team involved in this landmark research comprised Dr. N.V. Singh, Dr. P. Roopa Sowjanya, Dr. Shilpa Parashuram, Dr. P.G. Patil and Dr. R.A. Marathe, all at ICAR-NRCP, Solapur. It has taken the team six years in accomplishing full genomic sequencing of this Indian pomegranate. The reference-quality genome assembly of the ‘Bhagawa’ developed by ICAR-NRCP under aegis of Indian Council of Agricultural Research is a huge reservoir of publicly accessible genomic resources for pomegranate researchers across the globe and will provide a great impetus to the pomegranate improvement programme in India. These genomic resources will assist the pomegranate genetic improvement programmes of different research organizations including ICAR-NRCP through genomics assisted trait mapping, breeding and genome editing applications to develop improved varieties with resistance/tolerance to biotic and abiotic stresses.