A leading economist after the release of the latest export data said, “The future of the South African agriculture sector is bright, with the potential for more exports, job creation and economic growth.”
After covid-19 disrupted lives and hampered trade and commerce for good couple of years, people had high hopes from the year 2022. With the waning impact of Covid, wide scale rollout of vaccines and mass immunization, people expected the year to support recovery in every aspect. However, the year proved to be a disappointment for everyone in general and for people related with agro export and import business in particular.
Tur dal, often known as pigeon peas, is a member of the legume family and has a lot of fiber and proteins. The pigeon pea plant has dried and split peas (seeds) which make tur dal. It is a staple food for Indian vegetarian families and an essential component of Indian cuisines.
India is one of the largest producers of many oilseeds in the world. Many different oil seeds are grown in the country that covers approximately 12% of the total cropped area and the main oil seeds produced in India are groundnut, coconut, sunflower, soybean, mustard, sesamum (til), castor seeds, cotton seeds, and linseed. Despite being one of the largest oilseed crop-producing countries in the world, India is also one of the largest importers of vegetable oils today. There is a spurt in vegetable oil consumption in recent years in respect of both edible as well as industrial usage.
Basmati rice is grown in the Indian subcontinent’s foothills of the Himalayas This rice is claimed to be special because of the unique agro-climatic circumstances and processing methods including harvesting and aging. In India, basmati rice can only be farmed in particular regions of Punjab, Haryana, Himachal Pradesh, Delhi, Uttarkhand, Uttar Pradesh, and Jammu & Kashmir. In India, there are thousands of different types of rice, including basmati. But this aromatic rice has sparked the greatest debate. As per FSSAI, in 2021–2022, basmati rice exports from India generated foreign exchange earnings of Rs 25,053 crore annually as two-thirds of the world’s supply of basmati rice comes from India.
Located in South Asia, India is the 2nd largest wheat producer and consumer in the world, ranking behind China.
India’s Wheat Export Restrictions
The Government of India (GOI) banned the exports of wheat in May ’22 and further restricted wheat flour shipments from July 22. However, the government still permitted a few shipments in order to meet the food security requirements of countries around the world.
With waning impact of covid-19, people had high hopes from the year 2022. Almost all expected the year to support recovery after the covid-19 pandemic wreaked havoc and disrupted lives in the last couple of years. However, the year drifted far away from people’s pre-conceived notions.
Government of India had imposed restrictions on sugar exports effective from June 1 to control prices and maintain adequacy of sugar in domestic market. Now GOI has approved export of 1.2 MT extra sugar this season as high production next season is expected. This season 10 MT sugar has already been exported and this new quota is additional. Thus total sugar outflows will be 11 MT this season making it highest ever. This new quota is a recent approval of group of ministers.
After the freight rates have gone up by 50% the Indian basmati rice exporters are facing massive issues with trade. To curb these issues and to continue export the rice exporters are renegotiating prices with the importers in Australia, Canada and The US.
