India's wheat exports hit 7.85 MT in fiscal year to March, an all-time high

April 06 , 2022

NEW DELHI: India's wheat exports hit 7.85 million tonnes in the fiscal year to March, an all-time high and a sharp increase from 2.1 million tonnes in the previous year, traders said, as Russia's invasion of Ukraine cuts off rival Black Sea supplies.

Earlier this month, a top government official said India would export a record 7 million tonnes of wheat in the 2021-22 fiscal year as a rally in global prices gave the world's second biggest producer of the grain an opportunity to gain market share.

India achieved its target of exporting 7 million tonnes of wheat on March 21, according to the Indian government, which is yet to issue wheat shipment data for the last 10 days of March.

Traders said wheat shipments, including cargoes sold to neighbouring Bangladesh by land, totalled 7.85 million tonnes in 2021-22, surpassing the target of 7 million and indicating robust exports in the 2022-23 fiscal year that began on April 1.

Other than Bangladesh, India exported wheat to South Korea, Sri Lanka, Oman and Qatar, among others, traders said. Most export deals were signed at between $225 and $335 a tonne free on board, they said.

"Business has been very brisk, and both Mundra and Deendayal Port have been very busy handling outbound wheat cargoes," said Rajesh Paharia Jain, a leading New Delhi-based trader.

As war raged across the Black Sea region, global wheat prices have surged, and supplies from both Russia and Ukraine, which together account for about 29% of global wheat exports, have dropped substantially.

Russia calls its actions in Ukraine a "special military operation" to demilitarise the country. Western countries call it an unprovoked war of aggression.

India's new season wheat harvest is underway, and this year's production is pegged at a record 111.32 million tonnes - the sixth straight surplus output - encouraging traders to clinch more export deals.

 

Chennai and Kamarajar Ports marks strong growth during last fiscal

April 06 , 2022

CHENNAI: Chennai and KamarajarPorts have posted strong growth, emerging from the impact of COVID-19.

Sunil Paliwal, Chairperson of the Chennai Port Authority (CPA) and CMD, Kamarajar Port Ltd (KPL) informed that both Chennai and Kamarajar ports are posting strong growth, emerging from the impact of COVID-19. CPA and KPL reported 12%, 50% increase in cargo handling, respectively. There is more synergy between the ports to drive cargo growth and performance rather than competition. KPL became a fully-owned subsidiary of Chennai Port Trust in March 2020.

In the FY2021-22, Chennai port handled 48.56 million tonnes (mt) of cargo, and exceeded the Shipping Ministry’s target of 44.42 mt. The Kamarajar port at Ennore in North Chennai handled 38.74 mt as against the target of 39 mt. Chennai port reported a 12 per cent increase in cargo handling in 2021-22 as against 4 per cent in the previous year. The Kamarajar port had a 50 per cent growth in cargo handling 2021-22 as against 22 per cent in the previous year. For the current fiscal, the target for Chennai port is to achieve 49 mt and for Kamarajar port it is 42 mt, he adde

 

CMA CGM Group inaugurates its weekly dedicated export block train TEA promotes Tiruppur

April 08 , 2022

The CMA CGM Group, a world leader in shipping and logistics, inaugurates its first-round trip Block train service (90 Teus Import + 90 Teus Export) between ICD Sonipat from/to Mundra. The fully loaded 90-TEU train was flagged off from Sonipat on 7th April 2022 by Mr. Atit Mahajan, Managing Director of CMA CGM India, and the CMA CGM India team.

A full range of solutions to support the Group’s customers As one of the nation’s top ocean-freight carriers, CMA CGM is well positioned to serve its customers thanks to a strong presence in India over the past three decades. The dedicated service will increase capacity by an additional 90-TEU to meet the growing market demand with a direct connection to major shipping services of INDAMEX / EPIC / MEDEX / etc.

The export connection will be followed by the Import Block Train from Mundra to Sonipat every Sunday (which the Group is already operating since 2021). In 2021 alone, the Group in India successfully carried 8,878 TEUs of imports in its two weekly Block train services between Mundra and Sonipat.

With this additional weekly service, the Group eyes on an additional capacity of 180 TEUs on a round trip basis. The Group already operates 13 weekly Block Train services, connecting key intermodal locations in India. With more than 30 years of market presence in India, the CMA CGM Group is the leading market player with a strength of 4,700 staff members in India. The Group connects the country to the rest of the world with 12 services making 12 calls weekly.

Leading shipping’s energy transition with concrete actions

The CMA CGM Group is committed to making shipping and logistics a more sustainable industry and is taking concrete actions by adopting the best available solutions. These door-to-door solutions allow customers to reduce the carbon footprint of transported goods significantly. Compared to the cargo movement via truck, the block train option reduces CO2 emissions by up to 67%.

 

 

FIEO & CSLA deliberates on Guidelines to handle DG cargo

April 08 , 2022

NEW DELHI : FIEO with active support of Container Shipping Lines Association (India), popularly known as CSLA, hosted Video Conference on Guidelines to handle DG cargo (Haz) on April 6, 2022. 

 

Capt Deepak Tewari, Chairman, CSLA; Mr Sunil Vaswani, Executive Director, CSLA; Mr Khalid Khan of VP FIEO, and Mr Prashant Seth, Director, FIEO were present during the session.

The meeting witnessed a large number of participation from the exporting community, representatives of Export Promotion Councils & Commodity Boards and Stakeholders from FIEO Ease of Logistics Portal.

 

 

TEA promotes Tiruppur cluster model across 750 districts with export potential of $3 trillion

April 08 , 2022

TIRUPPUR- Tiruppur Exporters’ Association (TEA) has emphasised on promoting the Tiruppur cluster model across 750 districts of India stating that it will help India clock USD 3 trillion exports in the near future.  

Among the top garment hubs of India, Tiruppur contributes 1.06 per cent to India’s overall exports and has transformed itself into a major hub for the textile industry.

Highlighting the achievements of Tiruppur, Raja Shanmugham, President, Tiruppur Exporters’ Association said, “A small cluster like Tiruppur which largely constitutes of MSMEs contributes USD 4.3 billion to the country’s total exports.”

He suggested that the Tiruppur cluster model must be developed across all the districts on a particular chosen product line which will easily help India achieve USD 3 trillion exports in the future.

Calling Tiruppur a unique self-made cluster, Shanmugham said the government must develop a dynamic policy intervention to enable districts to transform into an industry specific hub.

Tiruppur cluster was developed without any supporting factors such as airport or sea ports and devoid of all advantages it has gained 1.06 per cent share in nation’s total export. This is a big achievement for a small cluster, hence this kind of a culture needs to be established all across the country on a chosen product line, he said.

indian exports to benefit elevated oil commodity prices says ADB

 

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Indian exports to benefit from elevated oil and commodity prices, says ADB

April 08 , 2022MANILA - Elevated oil and gas prices due to the ongoing Russia-Ukraine war may have put direct pressure on the rest of the world, but it can help boost India’s exports this year. “Rising oil and commodity prices, as well as a depreciating Indian rupee, may provide an impetus to exports, especially petroleum products and food products,” according to the Asian Development Bank’s 2022 outlook report published Wednesday. This will be helped by various schemes from the government, including the flagship Production Linked Incentive (PLI) scheme, the ADB added.

India reported record merchandise exports of $418 billion in just-concluded financial year 2021-22. Exports touched $40 billion for the first time in a single month, Industry Minister PiyushGoyal announced last week. Exports are expected to rise in the current fiscal as well; however economists expect the momentum to be hurt as a result of the ongoing conflict in Eastern Europe.

The ADB also expected the rising oil prices to likely increase India’s import bill as well. Rising import bills will widen the trade deficit. The current account deficit, ie the difference between total goods and services exports and imports, will shrink to a forecast 1.9% of GDP in FY 2023, it added. The current account deficit is expected to widen to 2.8% of GDP in FY 2022. In terms of remittances, which also forms part of the current account, remittances are expected to strengthen, as India attracts inflows largely from Gulf countries, where economic activity should pick up on the strength of oil prices, the ADB said.

“Export growth will remain strong in FY2023 as some reform initiatives take effect, including production-linked incentive schemes and investments to improve logistics infrastructure. Import growth will ease on softer oil prices,” the Philippines headquartered bank said.

In terms of overall economic growth, ADB sees India’s economy to expand by 7.5 per cent in the financial year 2022-23 (FY23) and by 8 per cent in the following year. Like the rest of the world, growth is expected as the Russian invasion of Ukraine has heightened uncertainty and unsettled commodity markets. GDP in Asia will expand by 5.2 per cent in 2022 and 5.3 per cent in 2023. Russia war, US Federal Reserve policy tightening and fresh outbreak of COVID-19 cases remain key monitorable.

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