Located in Asia, India is the second largest rice producer in the world and the country occupies the top spot when it comes to rice exports. The Asian nation holds a mammoth 40% share in the global rice trade and Indian rice is one of the many agro-commodities that has a huge demand across the globe.
Ukraine’s 2022 grain harvest, laboring under Russia’s invasion and subsequent loss of harvested land could fall to between 52.5 million and 55.4 million tonnes from 84.8 million tonnes prior to the war. The data on the agriculture consultancy APK-Inform report cited by Reuters reports the same.
Russia, the world’s largest wheat exporter, is considering abolishing its grain export quota which it usually sets up in the second half of the July-June marketing season as reported by a local news agency– Interfax citing Russia’s Deputy Prime Minister.
Turkey mainly exports precious stones/metals, components and parts of air vehicles, petroleum products, machinery, electrical devices, iron, and steel to the UAE. Turkish exports to the Middle East and Gulf countries increased by 24.8% in the first nine months of this year, with its highest exports to Iraq at $7.5 billion.
The European Union’s tomato production is expected to record a fall of 9 percent as compared to the previous year due to harsh weather conditions. Owing to adverse weather conditions, the volume of exports from tomato-producing countries like Spain is likely to reduce.
Did you know Kashmiri apples make an appearance at UAE supermarkets? Now Kashmir’s farmers have a reason to celebrate after a UAE-based supermarket chain started selling Kashmiri apples in its stores.
Indonesia, the world’s biggest producer of palm oil, may extend the export levy waiver on edible oil to the end of this year as announced by the country’s chief economic minister.
Indonesia started waiving levies imposed on palm oil export products in mid-July to help reduce a stock glut that accumulated after a three-week export ban in late April, which was designed to stabilize local cooking oil prices. The levy waiver policy on palm oil exports is currently scheduled to end after Oct 31.
The agricultural industry plays an essential role in Vietnam’s socio-economic environment. Over the next decade, in Vietnam, increasing incomes and emerging food manufacturing sectors are probably driving powerful growth in the consumption of agricultural products.
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.
Kenya, a country situated in the Eastern African region is the largest economy in eastern and central Africa with its capital, Nairobi serving as a major regional commercial hub. The agricultural sector is the second biggest contributor to the nation’s economy and employs 75% of the local population. Tea and coffee are the traditional cash crops and contribute significantly to the economy. A boost can be seen in Kenya’s economy due to a growth in the service sector, tourism and telecommunications.
