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While India faces a shortfall of $4 billion to $5 billion in exports this year due to Houthi attacks in Red Sea, a Trade Ministry official expects growth in exports of other farm commodities to offset the export deficit

Red Sea crisis, India's restrictions to cut exports by $5 billion: Report

<h2>While India faces a shortfall of $4 billion to $5 billion in exports this year due to Houthi attacks in Red Sea, a Trade Ministry official expects growth in exports of other farm commodities to offset the export deficit</h2>

India's decision to curb export of rice, wheat and sugar coupled with the Red Sea crisis has now put the country's export level in danger. As per The Economic Times, the exports face a shortfall of $4 billion to $5 billion this year.
<h3>Red Sea crisis</h3>
India, which is the second largest producer of wheat, rice and sugar restricted their export to control the rising domestic prices. The crisis in the Red Sea may strongly affect basmati rice shipment.
Also Read: <a href="https://www.editorji.com/business-news/economy/crisis-in-red-sea-this-is-why-there-s-a-red-light-for-ships-in-the-region-now-1702995809794">Crisis in Red Sea: This is why there's a red light for ships in the region now</a>
As per The Economic Times, India may consider an alternate route along Africa for shipments of basmati rice if attacks by Yemen's Houthi group persist, which could lift prices by about 15% to 20%.
However, this alternate route may affect India's export of Basmati rice to Egypt and Europe, according to an official who spoke to The Economic Times.&nbsp;
Meanwhile, an Additional Secretary in the Trade Ministry, Rajesh Agarwal said that India expects growth in exports of other farm commodities to offset the export deficit this year. He further mentioned that exports are growing by over 4% without agricultural commodities that are restricted. He also added that despite the export shortfall, India is likely to meet last year's export levels.
"If we remove agricultural commodities whose exports are controlled, like wheat and rice, exports are growing by over 4%," said Agarwal&nbsp;
"So, despite the shortfall of about $4 billion to $5 billion that we face because of restrictions on sugar, wheat, rice, we should be able to meet last year's export levels," he said.
The data released by state-run trade body APEDA has also mentioned that exports of meat, diary, cereal preparations, fruits and vegetables have risen between April and November.
&nbsp;
&nbsp;

India's sugar production fell 3.3% to 31.7 million tonnes in 2023/24 season prompting the government to export only 6.1 million tonnes of sugar during the current season to Sept 30 as compared to 11.1 million tonnes that were sold in the previous season

India expected to ban sugar exports for the first time in 7 years: Report

India's sugar production fell 3.3% to 31.7 million tonnes in 2023/24 season prompting the government to export only 6.1 million tonnes of sugar during the current season to Sept 30 as compared to 11.1 million tonnes that were sold in the previous season

India is likely to ban sugar exports in the next season beginning October, putting a stop to the shipments for the first time in seven years, reported Reuters. As per the report, lack of rains has cut the sugarcane yields this year.&nbsp;
This ban would further increase the rates in New York and London which are already trading at a multi-year high and also add to the inflationary pressures on the global food markets.&nbsp;
Reuters also quoted an official who said that the government is prioritising managing the local sugar requirements and produce ethanol from surplus sugarcane.&nbsp;
"Our primary focus is to fulfil local sugar requirements and produce ethanol from surplus sugarcane. For the upcoming season, we will not have enough sugar to allocate for export quotas", an official told Reuters.
Also Read: <a href="https://www.editorji.com/business-news/indian-basmati-rice-exporters-see-surge-in-early-shipments-requests-amid-non-basmati-rice-ban-1690810735040">Indian basmati rice exporters see surge in early shipments requests amid non-basmati rice ban</a>
India exported only 6.1 million tonnes of sugar during the current season to Sept 30 as compared to 11.1 million tonnes that were sold in the previous season.&nbsp;
Monsoon rains in the top cane growing districts of the western state of Maharashtra and the southern state of Karnataka have been as much as 50% below average so far this year. Both these states together account for more than half of India's total sugar output.&nbsp;
An industry official told Reuters that scarce rains would cut sugar output in the 2023/24 season and even reduce planting for the 2024/25 season. In nearly two years, local sugar prices jumped to their highest level this week. With this the government urged the mills to sell an extra 2,00,000 tonnes in August. As per Reuters, India's sugar production could fall 3.3% to 31.7 million tonnes in the 2023/24 season.
Retail inflation in India jumped to a 15-month high of 7.44% in July and food inflation to 11.5% - its highest in over three years.
&nbsp;

The export duty comes amid reports that onion prices are likely to rise in September.

Govt imposes 40% export duty on onion to improve local supplies

The export duty comes amid reports that onion prices are likely to rise in September.

The government on Saturday imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market.
The Finance Ministry through a notification imposed a 40 per cent export duty on onions till December 31, 2023.
The export duty comes amid reports that onion prices are likely to rise in September.

Non-basmati white rice constitutes about 25 per cent of total rice exported from the country

Here's why govt bans exports of non-basmati white rice 

Non-basmati white rice constitutes about 25 per cent of total rice exported from the country

The government on Thursday banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season.
There would be no change in export policy of par-boiled non-basmati rice and basmati rice, which forms the bulk of exports, the food ministry said in a statement.
Non-basmati white rice constitutes about 25 per cent of total rice exported from the country.
"Export policy of non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)...is amended from free to prohibited," the directorate general of foreign trade (DGFT) said in a notification.
"Export policy of Non Basmati White Rice amended to ensure adequate domestic availability at reasonable prices," the ministry said, adding, the move is aimed to ensure lower prices and adequate availability in the upcoming festival season.
Also read/watch| <a href="https://www.editorji.com/business-news/itc-becomes-7th-indian-firm-to-cross-6-lakh-crore-m-cap-here-s-a-list-of-first-six-names-1689862145219">ITC becomes 7th Indian firm to cross ₹6 lakh crore m-cap; here's a list of first six names</a> 
In order to ensure adequate availability of non-basmati white rice in the domestic market and to allay the rise in local prices, the government has amended the export policy from 'Free with export duty of 20%' to 'Prohibited' with immediate effect.
"The domestic prices of rice are on an increasing trend. The retail prices have increased by 11.5 per cent over a year and 3 per cent over the past month," the statement said.
Export duty of 20 per cent on non-basmati white rice was imposed on September 8, 2022 to lower the price as well as ensure availability in the domestic market.
However, the export of this variety increased to 42.12 lakh tonnes in September-March period of the 2022-23 from 33.66 lakh tonnes during September-March period of the previous fiscal.
In the first quarter of the current fiscal, about 15.54 lakh tonnes of white rice was exported against only 11.55 lakh tonnes in the year-ago period, which means an increase by 35 per cent.
"This sharp increase in exports can be ascribed to high international prices due to geopolitical scenario, El Nino sentiments and extreme climatic conditions in other rice producing countries, etc.," the statement said.
The prohibition on export of non-basmati white rice will lead to lowering of prices for the consumers in the country.
However, there is no change in export policy of non-basmati rice (par boiled rice) and basmati rice, which forms the bulk of rice exports.
"This will ensure that the farmers continue to get the benefit of remunerative prices in the international market," it added.
As per the commerce ministry data, India's total exports of basmati rice stood at USD 4.8 billion in 2022-23, while in volume terms it was at 45.6 lakh tonnes.
Similarly, exports of non-basmati stood at USD 6.36 billion in the last fiscal. In volume terms it was 177.9 lakh tonnes.
Major destinations of India's non-basmati white rice exports include Thailand, Italy, Spain, Sri Lanka and the USA.
As per the DGFT notification, the consignments of this variety of rice will be allowed to be exported under certain conditions such as where loading of rice on the ship has commenced before this notification.
Export will also be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their governments, it added.
The DGFT also said that exports are permitted for those consignments where the shipping bill is filed and vessels have already berthed or arrived and anchored in Indian ports and their rotation number has been allocated before this notification.
"The approval of loading in such vessels will be issued only after confirmation by the concerned port authorities regarding anchoring/berthing of the ship for loading of non-basmati rice prior to the notification," it said.
The exports are also allowed where the consignment has been handed over to the customs before this notification and is registered in their system.
Separately, the directorate said that it has extended the last date for submission of application for obtaining licence for export of broken rice to Senegal, Gambia and Indonesia till July 27 this year.

China’s share in India’s merchandise imports have declined to 13.79% in 2022-23 from 15.43% in 2021-22

India's exports in March fall 13.9%, trade deficit widens

China&rsquo;s share in India&rsquo;s merchandise imports have declined to 13.79% in 2022-23 from 15.43% in 2021-22

While India's overall exports of goods and services rose to $770 billion in 2022-23, showing a growth of 14 per cent, March goods exports declined 13.9% to $38.38 billion and imports declined 7.9% to $58.11 billion.&nbsp; In March 2022, goods exports were $ 44.57 billion and imports were $ 63 billion.&nbsp; According to reports, the pace of contraction sharpened for exports in March due to the global demand slump and trade headwinds have started to take a toll on India&rsquo;s foreign trade. Commerce and industry minister Piyush Goyal, who was on a visit to France and Italy from April 11-13, told reporters in Rome on Thursday that India&rsquo;s exports of goods and services together had scaled &ldquo;new heights&rdquo; and increased by 14% to $770 billion in 2022-23 as against $676 billion in 2021-22. The overall imports of goods and services touched $892 billion in the last fiscal, the minister said, adding that it reflects that the country&rsquo;s economic activities are growing and that has supported the exports.

The gap between what India gets from selling it's exports and what we pay for our imports widened to a record high in November as imports surged while exports fell to a 9-month low. India's trade deficit swelled to an all-time high of $23.27 billion in November. Here is what you need to know about India's trade gap-:The export explanation

Exports fell to a 9-month low clocking in at $30 billion
In October, exports had clocked a record high of $35.47 billion
Rising covid-19 cases in Europe and delayed shipments hit exports

The import imbalance

Imports up 57% vs last year, up only 2% vs October
November Imports at $53.15 bn vs $55.37 bn in Oct
Surge in mports spike led by commodities: crude, coal, chemicals, edible oil
Oil imports up 132% at $14.6 billion

Even though exports are under pressure and imports are surging due to the economic re-opening in India, experts are not to worried about the trade gap which most believe will shrink early next year. 

Trade Data: Gap between imports and exports at record high in November 

Trade deficit at record high, Exports at 9-month low

India posts record $23.27 billion trade deficit in November

The gap between what India gets from selling it's exports and what we pay for our imports widened to a record high in November as imports surged while exports fell to a 9-month low. India's trade deficit swelled to an all-time high of&nbsp;$23.27 billion in November. Here is what you need to know about India's trade gap-: The export explanation
<ul>
<li>Exports fell to a 9-month low clocking in at $30 billion</li>
<li>In October, exports had clocked a record high of $35.47 billion</li>
<li>Rising covid-19 cases in Europe and delayed shipments hit exports</li>
</ul>
The import imbalance
<ul>
<li>Imports up 57% vs last year, up only 2% vs October</li>
<li>November Imports at $53.15 bn vs $55.37 bn in Oct</li>
<li>Surge in&nbsp;mports spike led by commodities: crude, coal, chemicals, edible oil</li>
<li>Oil imports up 132% at $14.6 billion</li>
</ul>
Also read/watch:<a href="https://www.editorji.com/india-news/india-maintains-status-as-fastest-growing-economy-gdp-grows-at-8-4-in-q2-1638294933678" target="_blank">&nbsp;India maintains status as fastest growing economy: GDP grows at 8.4% in Q2</a>
Even though exports are under pressure and imports are surging due to the economic re-opening in India, experts are not to worried about the trade gap which most believe will shrink early next year.&nbsp;

China's trade data soared&nbsp;unexpectedly in August with exports rising 25.6% in dollar terms to a record $294.3 billion, more than $10 billion above any previous month.Imports also grew a mammoth 33.1% to $236 billion, also the highest level ever. This surge in exports has swelled&nbsp;China's trade surplus to $58.34 billion in August.&nbsp;So what is China exporting? As per data available the top three exports by value were&nbsp; the usual suspects; electronics, high-tech products, and clothing and clothing accessories.

China sees record exports, trade data sees unexpected surge in August

China trade data surges, Exports out of the Mainland soar to a record high.&nbsp;

China Record High Trade Data 

China&rsquo;s exports jumped 25.6% year-over-year in August, customs data showed Tuesday, above expectations for a 17.1% rise as polled by economists.&nbsp;

China's trade data soared&nbsp;unexpectedly in August with exports rising 25.6% in dollar terms to a record $294.3 billion, more than $10 billion above any previous month. Imports also grew a mammoth 33.1% to $236 billion, also the highest level ever. This surge in exports has swelled&nbsp;China's trade surplus to $58.34 billion in August.&nbsp; So what is China exporting? As per data available the top three exports by value were&nbsp; the usual suspects; electronics, high-tech products, and clothing and clothing accessories.

Putting a dead stop to the trade between India and Afghanistan, Taliban has stopped all imports and exports from the subcontinent. 

Dry fruit prices soar, as Taliban halts all trade with India 

From Almond importers to sugar exporters all face a big mess as Taliban stops all trade with India.&nbsp;

Taliban stops Trade with India 

<ul>
<li>Taliban stops all trade with India, hit of nearly billion dollars to exporters</li>
<li>India exports&nbsp;tea, coffee, pepper sugar and cotton to Afghanistan&nbsp;</li>
<li>Afghan exports to India include mostly dry fruits, dried raisin, walnut, almond, fig, pine nut, pistachios, dried apricot&nbsp;</li>
<li>India is importing around 85 per cent of dry fruits from Afghanistan.</li>
<li>The prices of Afghan almonds, figs, apricots and raisins have increased by&nbsp;₹200 per kilogram,</li>
</ul>

<div class="row">
<div class="heading-part">
<h2 class="synopsis">Neighbouring nation only exporter of anjeer and apricot, major importer of Indian sugar</h2>
</div>
</div>
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Putting a dead stop to the trade between India and Afghanistan, Taliban has stopped all imports and exports from the subcontinent.&nbsp; The total value of trade between India and Afghanistan currently stands at over $1.5 billion, where exports from India stand at over $900 million. India's outbound shipments to Afghanistan include tea, coffee, pepper sugar and cotton.&nbsp;
Also See |<a href="https://www.editorji.com/story/fight-now-pay-later-what-the-afghanistan-war-is-really-going-to-cost-uncle-sam-1629321874353" target="_blank">&nbsp;'Fight Now, Pay Later': what the Afghanistan war is really going to cost Uncle Sam</a>
Export Organisation (FIEO) has said that currently the <a href="https://www.editorji.com/story/watch-taliban-fire-to-disperse-jalalabad-protesters-one-dead-1629303529267" target="_blank">Taliban</a> has stopped the movement of cargo through the transit routes of Pakistan, thereby stopping imports from the country. This has led to a surge in dry fruit prices in the local markets in India.&nbsp;Afghan exports to India include dried raisin, walnut, almond, fig, pine nut, pistachios, dried apricot and fresh fruits such as apricot, cherry, watermelon, and medicinal herbs.&nbsp; India and Afghanistan signed a Preferential Trade Agreement (PTA) in March 2003 under which India allowed substantial duty concessions, ranging from 50% to 100%, to certain category of Afghan dry fruits. Afghanistan, in turn, has allowed reciprocal concessions to Indian products including tea, sugar, cement and pharmaceuticals&nbsp; &nbsp; An Air-Freight Corridor connecting India and <a href="https://www.editorji.com/story/council-may-rule-afghanistan-for-now-taliban-reach-out-to-soldiers-pilots-1629345165286" target="_blank">Afghanistan</a> was established in June 2017 to overcome the lack of safe passage via Pakistan, which also stands abandoned due to the closure of the airspace by the Taliban.&nbsp;
Federation of India Export Organisation expressed concern that in coming days dry fruit prices may go up due to the turmoil in Afghanistan. India is importing around 85 per cent of dry fruits from Afghanistan. The prices of Afghan almonds, figs, apricots and raisins have increased by&nbsp;₹200 per kilogram, while that of pistachio has increased by&nbsp;₹250 per kilogram.

PM Modi reassured manufacturing and exporting sector that the Govt will do everything that is required to ensure that the "Made In India" tag becomes a global export revolution.&nbsp;Addressing the nation at Red Fort marking celebrations of India at 75, PM Modi&nbsp;reminded India Inc that exports from India are not just products being shipped but a reflection of 'Brand India' that is going through an image overhaul in the global markets.&nbsp;At $35 billion in July, India has recorded highest-ever monthly exports.&nbsp;

India@75: PM Modi to exporters; 'Made In India' to be a global revolution

India@75: PM Modi reassures exporters that Govt will support industry in&nbsp;every way to make "Made In India" products a global revolution

India@75: PM Modi's big boost for exporters

PM Modi reassured manufacturing and exporting sector that the Govt will do everything that is required to ensure that the "Made In India" tag becomes a global export revolution.&nbsp;

PM Modi&nbsp;reiterates the need to make 'Made In India' tag a global revolution in the export market.&nbsp;

PM Modi reassured manufacturing and exporting sector that the Govt will do everything that is required to ensure that the "Made In India" tag becomes a global export revolution.&nbsp; Addressing the nation at Red Fort marking celebrations of India at 75, PM Modi&nbsp;reminded India Inc that exports from India are not just products being shipped but a reflection of 'Brand India' that is going through an image overhaul in the global markets.&nbsp;
Also watch: <a href="https://www.editorji.com/story/pm-modi-asks-india-inc-to-lead-the-dream-of-atmanirbhar-bharat-1628681750481">PM Modi reassures India Inc, will push every boundary to ensure growth</a> At $35 billion in July, India has recorded highest-ever monthly exports.&nbsp;

China's trade data threw up surprises as exports accelerated and imports slowed for the month of June.&nbsp;Exports climbed 32.2% in dollar terms in June from a year earlier as per data released by the Chinese government, while import growth slowed to 36.7%.Pandemic has pushed demand for Chinese made 'Work From Home' products across the globe pushing the exports higher for the mainland. The boost has led to a trade surplus of $51.53 billion for the month of June.&nbsp;Read/Watch Also: China infuses 1 trillian yuan to boost economy

Made in China tag still ruling the globe, China trade data shows surge in exports

Move aside trade wars, Made in China tag still ruling the globe shows the latest export data from China.&nbsp;

China trade data 

China&rsquo;s exports to the United States grew 31.7% in yuan terms in the first half of 2021, while imports grew 43.9%

China's trade data threw up surprises as exports accelerated and imports slowed for the month of June.&nbsp;Exports climbed 32.2% in dollar terms in June from a year earlier as per data released by the Chinese government, while import growth slowed to 36.7%. Pandemic has pushed demand for Chinese made 'Work From Home' products across the globe pushing the exports higher for the mainland. The boost has led to a trade surplus of $51.53 billion for the month of June.&nbsp; Read/Watch Also: <a href="https://www.edtr.ai/9t3x">China infuses 1 trillian yuan to boost economy</a>

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