Export subsidy: India has 30 days to answer US' complaint
NEW DELHI: India will have to respond to the US' complaint on export subsidies within 30 days, instead of the 60 days assumed earlier, as per World Trade Organization norms. There are also worries of an escalating trend. Last week, the US filed a ...
India to take up steel import curbs with US bilaterally
India, US to bilaterally discuss steel import curbs: Suresh Prabhu
India, US to bilaterally discuss steel import curbs: Trade Minister Suresh Prabhu
India, US to bilaterally discuss steel import curbs
US President Donald Trump has pressed ahead with import tariffs of 25 percent on steel and 10 percent for aluminum, but exempted Canada and Mexico and offered the possibility of excluding other allies, backtracking from an earlier "no-exceptions ...
FNB News - Ministry of commerce issues draft agri export policy and ...
Following the doubling of India's share in the global exports of agricultural produce from one per cent to 2.2 per cent in 2016, the ministry of commerce and industry has recently issued a draft agriculture export policy, whose objective is to increase ...
India Advised Against Levying Import Duty On Solar Cells & Modules
The Indian government has been advised by multiple entities not to levy import duties on solar cells and modules. While the Chinese government was the first to caution India against levying anti-dumping or safeguard duties on imported solar cells and ...
Sugar export duty off
New Delhi: The government on Tuesday scrapped the export duty of 20 per cent on raw and refined sugar to boost overseas sales in a year of surplus production. The country is set to produce a record 29.5 million tonnes of the sweetener in the current ...
Pricey Indian pulses make open-export policy unfruitful in global market
Even exports of these have not materialised, which does not augur well for the realisation of the recently released draft of the agricultural exports policy, which intends to double India's farm exports by 2022. At the other end, pulses farmers who are ...
India To Change Solar Bid Rules To Address Possible Import Duties
While India's Directorate General of Safeguards Customs and Central Excise has already recommended a provisional 70% safeguard duty on imported solar cells, a Parliamentary panel has said that there is no case to impose such a duty. Indian developers ...
India to bilaterally discuss steel import tariff with US | Business ...
Read more about India to bilaterally discuss steel import tariff with US on Business Standard. Minister of Commerce and Industry, and Civil Aviation Suresh Prabhu on Tuesday said that India will bilaterally discuss the import tariffs on steel and ...
India to bilaterally discuss steel import tariff with US - India.com
Coking coal import increases to 43.53 million tonne
KOLKATA: The country's coking coal import increased to 43.53 million tonne (mt) from 38.83 mt during the period April 2017 – February 2018, a jump of 12.10% over same period last year, according to mjunction, a leading e-commerce company. The trend ...
How does the LoU ban impact India Inc?
Banning LoUs is seen impacting import of certain crucial components, which can be particularly disruptive for those who use them to manufacture engineering goods for export. Until now, Indian companies could take advantage of the lower borrowing rates ...
DES MOINES, Iowa -- After building up large bullish positions, the funds are liquidating long-the-market contracts, and the corn and soybean markets are paying the price.
Also, investors are waiting with baited breath, regarding a possible announcement this week by the Federal Reserve to increase interest rates. And, the trade tariffs announced recently by the White House are affecting U.S. ag products already, USDA says.
After falling 26¢, yesterday, the soybean market is slightly higher Tuesday.
In overnight trading, the May corn futures are ¼¢ higer at $3.75; July futures are ¼¢ higher at $3.83. May soybean futures are 2¾¢ higher at $10.25; July soybean futures are 2½¢ higher at $10.36. May wheat futures are 4¢ higher at $4.54. In the outside markets, the NYMEX crude oil market is 45¢ higher, the U.S. dollar is higher, and the Dow Jones Industrials are seen mixed.
On Tuesday, the macroeconomic factors will be hard to find, with no notable events scheduled. Very little economic data is expected to be announced. Today, the Federal Reserve starts its two-day policy meeting. On Wednesday, the Fed will release latest monetary policy statement at 2 p.m. EDT.
On the earnings side, today’s schedule is also light.
Funds Sell, Prices Fall
This week’s grain market has featured funds liquidating their long positions in corn and soybeans. Friday’s Commitments of Traders Report noted that funds are now long the corn market with 233,000 contracts. The funds are holding 208,000 long contracts in soybeans. For wheat, the funds are short that market by 6,000 contracts.
Al Kluis of Kluis Commodities says the aggressive stance by the funds going into this week’s market was scary for the soybean market. “When the funds are done selling, corn and soybean price charts are likely to put in a V-type bottom,” Kluis stated to customers in a daily note Tuesday.
In the meantime, Kluis is watching the bull spreads between corn and soybean markets. The spreads were firm, as prices rallied then turned weaker when prices hit their high three weeks ago, Kluis stated.
With the USDA March Prospective Plantings Report released in less than 10 days, funds are expected to be positioning themselves ahead of time.
USDA Secretary Sonny Perdue told members of the National Feed & Grain Association that President Trump’s tariffs on China and other countries have already caused trade disruptions, according to a Reuters report.
On Tuesday, Reuters reported that Perdue “believed agricultural and farm products were the ‘tip of the retaliatory spear’ and would be likely targets for angry trading partners.”
Perdue did not name any specific trade disruptions.
India's apparel exports fall by 10.25% to Rs 93 bn in February 2018
With India's apparel exports further declining by 10.25 per cent during the month of February 2018 against the corresponding month of February 2017, industry body Apparel Export Promotion Council (AEPC) has raised concerns over the downward trend. As ...
sugar: Govt scraps export duty on sugar to trim surplus, lift prices ...
The country is likely to produce a record 29.5 million tonnes of sugar in the 2017/18 season that ends on Sept. 30, up 45 percent from the previous year.
India scraps 20% sugar export tax to boost overseas sale, cut inventory
Govt scraps sugar export tax to boost exports, cut inventory ...
India scraps 20 pct sugar export tax to boost boost overseas sale, cut inventory
India's cotton plantings to fall as pest dents farmers' income
Cotton planting in India, the world's top producer of the fibre, could fall 12 percent in the 2018/19 crop year as infestation by the pink bollworm has slashed farmers' incomes and prompted them to choose other crops, industry officials said. The ...
India Tightens Gold Import Norms For Nominated Agencies
Mumbai: India tightened gold import norms for nominated agencies by restricting them from importing the yellow metal only for export purposes and not for selling in the domestic market, the government said in a circular on Wednesday. "...are permitted ...
US protectionism: impact on India
A research note by Morgan Stanley says that the basis for the action is that India surpassed the defined economic benchmarks for developing countries with respect to export subsidies in 2015. US President Donald Trump has already threatened China and ...
Opportune moment for a shift in policy
In its complaint, the USTR has targeted the five largest export promotion schemes that are currently in place, namely, the Export Oriented Units Scheme and sector specific schemes, including Electronics Hardware Technology Parks Scheme, Merchandise ...
Today, as farmers eagerly welcome the first day of spring, many are also celebrating National Ag Day and the role of youth in the future of agriculture.
The Future of Agriculture
Among the youth playing a vital role in the future success in agriculture are two high school students who won the 2018 National Ag Day essay and video contests.
Rio Bonham of Tishomingo, Oklahoma, believes National Ag Day is important to help bridge the gap between those involved in production agriculture and those involved in the consumption of agricultural products.
“These efforts by the Agriculture Council of America have a substantial impact on making agriculture an understood and appreciated topic for consumers, as well as a career path for the next generation,” says Bonham. “I am extremely proud to be part of such a cause.”
As the winner of a $1,000 prize for his essay, How Will Agriculture Feed the World?: It Starts Today, Bonham will travel to Washington, D.C., be recognized at the National Press Club where he’ll read his essay, and meet farmers and industry representatives.
Zoe McCormick considers the day to have a huge influence in educating the public on the importance of agriculture while putting the spotlight on the significance of farmers across the nation. As the winner of the video contest, McCormick also receives a $1,000 prize that she plans to use toward college and to buy 4-H show pigs this year.
Both winning essays can be viewed on the National Ag Day website.
What You Can Do Today
The National Ag Day program believes that every American should understand how food, fiber, and renewable resource products are produced, value the essential role of agriculture for a strong economy, and appreciate the role agriculture plays in providing safe, abundant, and affordable products.
The National Press Club Event, a Taste of Ag Reception, as well as the Agri-Pulse Ag & Food Policy Summit are among the events taking place in Washington this week with additional events held around the country.
You can take part in the national celebration simply by making a farm-to-table meal with your family, planning an activity to educate youth on agriculture, sharing photos related to agriculture on social media using the hashtag #foodforlife, or visiting local farms. The opportunities are endless.
The 2018 theme is “Agriculture: Food for Life” to tell the story of American agriculture and to remind citizens of the prominence of it in their daily lives.
Each year, National Ag Day is held during National Ag Week, which is organized by the Agriculture Council of America to celebrate all those who feed our world, care for crops and livestock, and bring awareness to agricultural production.