Recent Export Growth Spurt: Slippery as Oil – Economic Times (blog)


Economic Times (blog)

Recent Export Growth Spurt: Slippery as Oil
Economic Times (blog)
In October 2017, India's exports were worth a low $22.9 billion, making this October's $26.9 billion figure look like a respectable jump. In reality, this October's exports are lower than the $28 billion figure ... Our export recovery is sluggish ...

WTO: India opposes Singapore’s proposal to exempt export curbs on food for humanitarian aid – The Hindu BusinessLine


The Hindu BusinessLine

WTO: India opposes Singapore's proposal to exempt export curbs on food for humanitarian aid
The Hindu BusinessLine
“Singapore's paper on export restrictions evoked a lot of response at the Committee on Agriculture's special session this week. As many as 12 members spoke, including India,” the official said. Members are trying to work on a pact on limiting export ...

Survey: Corn Belt Land Values Fall in Third Quarter

Byline:

Farmland values in the Corn Belt are slightly lower now than mid-year, according to the Chicago Federal Reserve. Don’t be surprised if that trend continues.

Todd Hatterman, land realtor and auctioneer at Vander Werff and Associates, knows one reason why.

“There is a lot of farmland coming on the market,” the Sanborn, Iowa, realtor explains. “And there will be a lot more in the next six or seven weeks.”

Hatterman’s projection is supported by data from the Seventh Federal Reserve Bank’s farmland values survey, which was released November 15.

Respondents to the survey expect weaker demand for farmland from October to December 2018, plus more farmland availability over the same time.

This – coupled with low commodity prices – is putting pressure on land prices.

The Seventh Federal Reserve Bank distributed results of its third quarter 2018 farmland values survey on November 15. According to 188 agricultural bankers in the district (which includes Illinois, Michigan, Iowa, Indiana, and Wisconsin), farmland values in the Corn Belt states are 1% lower in the third quarter of 2018 than in the second quarter. This was the first quarter-to-quarter decline for district agricultural land values since the fourth quarter of 2016 – nearly two years ago.

Furthermore, almost two thirds of survey respondents expect farmland values to decrease further in 2018.

That land values did not decrease more is due, in part, to exceptional crop reports, the Fed said in its summary. “In 2018, district-wide corn and soybean yields jumped to all-time highs (198 bushels per acre for corn and 59 bushels per acre for soybeans). That’s a 1.5% increase from 2017 for corn and an 8.7% increase for soybeans,” the report said. The USDA anticipates record harvests for both commodities. Plus, corn prices are slightly higher in 2018 than in 2019, although soybean prices are down 5.6% from last year.

Also, cattle, hog and milk prices are sharply lower in 2018 compared to 2017, having fallen 2.6%, 17%, and 9.8% respectively.

Finally, credit conditions are generally worse in 2018 than 2017, the Fed reports. The availability of funds for lending by ag banks was lower than a year earlier for the fifth quarter in a row. Plus, repayment rates on non-real estate farm loans were lower than a year ago, with 39% of the respondents observing lower loan repayment rates.

Following a farmland sale in early November, Vander Werff’s Hatterman said high-quality farmland holds its value much better than lower-quality land. While some buyers have a reserve of cash on hand for farmland purchases, that supply of cash is drying up. Those who need to borrow money will face a stiffer penalty if the Federal Reserve increases interest rates, as expected.

“If interest rates go up 2 or 3 points, that could definitely have an effect on land prices,” Hatterman says.

State July to Oct., 2018 Oct. 2017 to Oct. 2018
Illinois -1%

-1%

Indiana -2% +1%
Iowa -1% +1%
Michigan n/a n/a
Wisconsin -1% +1%
Seventh District -1% +1%

Source: Seventh Federal Reserve District

Appliances and Consumer Electronics industry in India to focus on expanding export capabilities, says CEAMA – Tech Observer


Tech Observer

Appliances and Consumer Electronics industry in India to focus on expanding export capabilities, says CEAMA
Tech Observer
Consumer Electronics and Appliances Manufacturers Association (CEAMA), the apex industry body for the Appliances and Consumer Electronics (ACE) industry concluded their 38th annual function focussed on 'The Champions of Change – Moving Towards ...

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Merchandise export volume expected to increase to USD 100 billion after the implementation of RCEP agreement … – Business Standard


Business Standard

Merchandise export volume expected to increase to USD 100 billion after the implementation of RCEP agreement ...
Business Standard
While appreciating India's vision for a balance trade agreement with Regional Comprehensive Economic Partnership (RCEP) members, Mr. Rajeev Talwar, President, PHD Chamber of Commerce and Industry said that the RCEP trade agreement will boost ...

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US walnut growers await impact of 100% India’s import duty – Times of India


US walnut growers await impact of 100% India's import duty
Times of India
Lodi, California: In the last five years, India's imports of walnuts from California has doubled annually. But this year, even as demand is on the rise for the healthy nuts, importers may face a unique challenge as the Indian government has increased ...

Source says govt may hike export incentive on oilmeals to 10% of fob – Cogencis


Source says govt may hike export incentive on oilmeals to 10% of fob
Cogencis
NEW DELHI – The government is considering to raise incentives under the Merchandise Exports from India Scheme on all oilmeals to 10% of free-on-board value from the current 5%, to provide a fillip to declining overseas shipments, a source close to the ...

Exports bounce back, grow 17.86% to $26.9 b in October – The Hindu BusinessLine


Times of India

Exports bounce back, grow 17.86% to $26.9 b in October
The Hindu BusinessLine
While import of crude and petroleum products jumped over 52 per cent to $14.20 billion during the month, import of gold declined 42.9 per cent to $1.68 billion. In September, exports had fallen 2.15 per cent compared to ... “The exports during the ...
Exports grow 18% in Oct, trade deficit widensTimes of India
October trade deficit widens to $ 17.13 billion despite decline in gold importsEconomic Times
India's Trade Deficit Widens Even As Exports Bounce BackBloombergQuint
The Asian Age -Knn India -The New Indian Express
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Afghanistan as Partner Country at India International Trade Fair – Economic Times (blog)


Economic Times (blog)

Afghanistan as Partner Country at India International Trade Fair
Economic Times (blog)
In recent years trade ties between Afghanistan and India is growing but there is huge potential for further development. Afghanistan-India trade stood at more than USD 900 and expected to reach USD 2 billion in near future. India's main export items to ...

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Fall in global crude price may ease India’s import bill and inflation – Economic Times


Economic Times

Fall in global crude price may ease India's import bill and inflation
Economic Times
Global oil prices fell by about a quarter in 40 days to $65 a barrel on Wednesday, promising to reduce India's import bill and inflation. It is also likely to cool local fuel prices that crested several peaks and rob the Opposition of a key political ...

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Deepening Trade Ties: India Looks To Import More Oil From The US – Swarajya


Swarajya

Deepening Trade Ties: India Looks To Import More Oil From The US
Swarajya
To expand trade relations with the US, India has indicated its interest to buy more oil from the nation, as reported by Business Standard. India imports 80 per cent of its oil requirements, most of which are from the Gulf nations. “We expressed our ...
India, US to work together for a free open Indo-Pacific RegionFinancial Express
India is open to importing more oil and gas from US, says Foreign Secretary Vijay GokhaleScroll.in
PM Modi raises Pakistan terror, India-US defence ties at talks with US VP PenceThe Indian Express
Hindustan Times -The New Indian Express -Livemint
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India open to importing more oil from US – Telegraph India


Telegraph India

India open to importing more oil from US
Telegraph India
The US suffers a deficit of $22 billion in its trade with India and has been looking for new areas of export or seeking tariff cuts on products such as high-end motorbikes. New Delhi does ... Sources said GAIL was exploring more gas import contracts ...
India Ready To Import More US Oil And GasOilPrice.com

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Corruption in coal import in Indore: No ‘sufficient’ evidence, CBI closes case – The Indian Express


The Indian Express

Corruption in coal import in Indore: No 'sufficient' evidence, CBI closes case
The Indian Express
According to the DRI, this coal was then supplied to public sector coal-based thermal power generation companies in India at the “artificially inflated import price and the inflated price is remitted from India to the intermediary firms abroad which ...

India Ready To Import More US Oil And Gas – OilPrice.com


OilPrice.com

India Ready To Import More US Oil And Gas
OilPrice.com
India is ready to import more crude oil and liquefied natural gas (LNG) from the United States to expand bilateral trade, India's Foreign Secretary Vijay Gokhale said on Wednesday. Speaking after a meeting between India's Prime Minister Narendra Modi ...
India is open to importing more oil and gas from US, says Foreign Secretary Vijay GokhaleScroll.in

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New Train Coaches From India To Reach Sri Lanka In A Week – NDTV


NDTV

New Train Coaches From India To Reach Sri Lanka In A Week
NDTV
The Indian Railways will export the first state-of-the-art swanky and modern Diesel Multiple Units (DEMU) train rake to Sri Lanka in a week, rail officials said on Wednesday. A senior Railway Ministry official told IANS in New Delhi that the newly ...

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Growers, trade seek curbs on pepper imports – The Hindu BusinessLine


The Hindu BusinessLine

Growers, trade seek curbs on pepper imports
The Hindu BusinessLine
India earlier this year had imposed a minimum import price of ₹500 per kg on pepper to protect domestic pepper farmers. The Kerala chapter of Indian Pepper and Spices Traders, Growers, Planters Consortium said in a statement that Sri Lanka has ...