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Wheat

Afghanistan Signs Deal With Russia to Import 2 Million Tonnes Wheat

Afghanistan Signs Deal With Russia to Import 2 Million Tonnes Wheat

Taliban, the illicit group on the helm of Afghanistan has signed a provisional deal with Russia to supply gasoline, diesel, gas and wheat to Afghanistan. Afghan Commerce and Industry Ministry was working to diversify its trading partners and Russia had offered the Taliban administration a discount on average global commodity prices. The deal would involve Russia supplying around 1 million tonnes of gasoline, 1 million tonnes of diesel, 500,000 tonnes of liquefied petroleum gas (LPG) and 2 million tonnes of wheat annually.

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Wheat

Impact of India’s Grain Export Policy Changes on Singapore

Impact of India's Grain Export Policy Changes on Singapore

In a move to boost domestic supplies, the government of India imposed a 20 percent import duty on non-basmati rice except for parboiled rice. India also implemented restrictions on wheat export. These moves came into effect following a fall in the cropping area due to several rounds of heatwaves throughout the country and low rainfall. India being the largest rice exporter makes it the only source of grain for multiple countries. Any change in its trade policies reflects largely on the global market. One such country which took regular shipments from India is Singapore.

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Rice

Government Extends Deadline For Export Of Broken Rice In Transit, To October 15th

Government Extends Deadline For Export Of Broken Rice In Transit, To October 15th

Paddy is the main Kharif crop which is sown with the onset of the southwest monsoon in June and the harvesting starts from October onwards. The Central Government restricted exports of broken rice and imposed duty on exports on various other types on 8thSeptember’22. In an attempt to boost domestic supplies, the government also imposed a 20% export duty on all varieties of non-basmati rice except for parboiled rice. 

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Wheat

Russian Grain Exports To Africa Hit By Sanctions

Russian Grain Exports To Africa Hit By Sanctions

African countries rely on both Russia and Ukraine for the import of food grains. The African Union(AU) themed 2022 as the ‘year of nutrition and food security’, but the impact of climate change, Covid-19 pandemic and the war in Ukraine has had a huge impact on its intended outcome. The United States holds Russia’s blockade of Ukraine’s Black Sea ports responsible for the reversal of the goal as most of the grain destined for Africa goes through the Black Sea.* Fears of famine arose due to a surge in food prices since the war scenario began in February, as a consequence of which, a number of African leaders visited Russia to discuss the impact of the port blockade. 

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Wheat

Pakistan Flour Millers Seek Government’s Nod To Import Wheat

Pakistan Flour Millers Seek Government’s Nod To Import Wheat

Pakistan is an agricultural country that normally grows enough to meet the needs of its population. The arrival of wheat in the last two years has not played a significant role in curbing the bullish trend in local prices. Pakistan’s flood response centre said ,“A huge stock of wheat for the next 6 months is available along with strategic reserves which is sufficient till next harvesting season.” 

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Wheat

Saudi Grain Organisation Issues Tender To Import 535,000 Tonnes Of Wheat

Saudi Grain Organisation Issues Tender To Import 535,000 Tonnes Of Wheat

Saudi Arabia is among the importing countries hit by disruption to Ukraine and Russia’s grain exports and surging prices of wheat and other commodities. 

Saudi Arabia maintains at least 6 months of stock for various grain products to overcome any food shortages. 

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News

Policy Amended, International Trade Can Now Be Settled in Rupee

Policy Amended, International Trade Can Now Be Settled in Rupee

After months of deliberations, the Centre has finally brought an amendment in its foreign trade policy to facilitate international trade in rupee. The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry on 16th of September 2022, notified the changes to the policy. The central bank allowed authorised banks in India to open special rupee Vostro accounts of correspondent banks of any partner trading country to facilitate trade in the Indian currency. 

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Sugar Exporters

Government Will Very Soon Announce Sugar Export Quota For 2022-23 Market Year

Government Will Very Soon Announce Sugar Export Quota For 2022-23 Market Year

Food Secretary, Sudhanshu Pandey said on 21st September’22 that,” the government will very soon announce the export quota of sugar for the next marketing year starting October.” Although he did not disclose the quantity of sugar exports that will be allowed for the 2022-23 marketing year, this was mentioned at a Sugar and Ethanol conference organised by Indian Sugar Mills Association (ISMA) and datagro. India’s Sugar Exports stood at 3.8 million tonnes(MT) in 2018-19, 5.9MT in 2019-20 and 7MT in 2020-21. 

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Wheat

Restrictions on Commodities Imposed by Asian Governments So Far in 2022

After the onslaught of Covid, businesses and traders around the world expected 2022 to bode well in their favour. But that doesn’t seem to be the case. Covid already left its mark on the global supply chain which is still vexing international trade. Also, the crisis between Russia and Ukraine added to the problems. Moreover, this year, major agro-based countries around the world are facing adverse weather conditions. All of this has caused food and fuel prices to shoot up and this directly prompted both developed and developing economies to take steps to aid the situation. 

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Wheat

Tight Rice Supplies Could Boost Wheat Demand

Tight Rice Supplies Could Boost Wheat Demand

Wheat markets could be getting a demand bump in 2022-23, says an analyst.* Tight global rice supplies could result in changing trade patterns in the Indian Subcontinent. On Sept. 9, India imposed a ban on exports of broken rice and a 20 percent export tariff on paddy, brown and white rice with an exception to basmati and parboiled rice. These are the first restrictions that the country imposed since 2011. 

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