Posts Tagged ‘Exports’

Weekly Update 6th-10th September 2010

Stocks rallied this week as the manufacturing in U.S. and China expanded at faster pace reassured investors about the economic recovery. The ISM manufacturing increased to 56.3 for a sizable eight tenths gain from July.

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China’s PMI rose to 51.7 from 51.2, signaling that the economy’s slowdown is stabilizing. In U.S. payroll jobs in August slipped 54,000 after falling a revised 54,000 in July for the third straight month but there was a moderate gain in the private sector.

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Government jobs dropped 121,000 while private non farm employment continued to rise, gaining 67,000 in August. Also on the positive side, wages were up. President Barack Obama said there is “no quick fix” for the economy and will unveil new ideas next week to boost growth and hiring. Chief of Bank of Japan said that the bank is ready to take more actions after giving 10 trillion yen ($118 billion) to a bank loan facility and the nation’s Prime Minister said that the Japanese government is ready to take “bold” action on the currency if necessary which is threatening its exporters.

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India being second biggest emerging economy showed yet another strong performance in terms of growth. The economy saw an expansion of 8.8 percent in the first quarter ending June, the fastest pace in two and a half years giving an imprint of strong underlying domestic demand. Trade data showed that exports rose for the ninth straight month in July 2010, growing an annual 13.2% to $16.24 billion and Imports for the month rose 34.3% to $29.17 billion, widening the country’s trade deficit to $12.93 billion. Exports during the April-July period rose 30.1% to $68.63 billion.

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Being a short trading week, stock specific activity is expected to rule in the market as investors would like to see Industrial Production numbers for the month of July scheduled to be released on Friday, 10th September. In line with rebound in the global indices, Indian market too witnessed sharp bounce after testing the major support zone of 5350 levels. As expected, dollar index traded with the negative bias throughout the week and likely to be sideways to negative bias in the coming days as well. Keeping in the mind all the cues, one may stay long with trailing stop loss strategy or book partial profit on rally to avoid any notional loss. Nifty has support between 5400-5350 and Sensex between 17800-17600 levels.

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Currency play together with some improvements in economic releases invited bulls in industrial metals while energy pack could not retort positively. Bullions continued to rock on investment demand. Now there is a state of confusion on the subject of the further trend in commodities. Dollar index has taken the crucial support of 82 and moved northward. Base metals gave knee jerk reaction on weak unemployment data of US at the same time as precious metals are trading near multi week high. Various interest rate meeting may inject volatility in commodities. Buying is still intact but upside appears to be limited in short run in base metals. Furthermore, base metals and crude oil are moving in a different direction that is a cause of concern for the market players. It is creating an ambiguous situation and indicating unclear trend of commodities.

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India’s Exports Rise to the Highest in the Past 15 Months

India's exports rise to the highest in the past 15 months

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Growing for the second straight month, India’s exports touched $14.6 billion in December.

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This is the highest in the past 15 months, helped by an uptick in demand for merchandise in the western markets.

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“We have registered exports of $14.6 billion in December,” commerce and industry minister Anand Sharma told.

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The December growth is about 16% from a year ago, while the expansion is about 10% compared to shipments in November this fiscal.

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The two straight months of growth comes after exports fell for 13 months in a row since October 2008.

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Sharma said going ahead the momentum would be maintained.

He, however, added that exporters are yet to recover from the setback of the past 13 months.

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Sectors like engineering, auto components and pharma helped exports rise again.

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Analysts said December growth has come about on a low base last year when the global demand dropped sharply due to the global recession.

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The December figure reflects the best ever performance since August 2008 when exporters shipped goods worth $16 billion.

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Demand for the Indian products seems to be reviving in the western markets. 🙂

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🙂

Cashew Kernel Exports Decline to 1,07,496 Metric Tonnes

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Cashew Kernel Exports Decline to 1,07,496 Metric Tonnes

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Cashew kernel exports decline 4% in 2009

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India’s cashew kernel exports have showed an overall drop of a marginal 4 per cent to 1,07,496 metric tonnes during the calendar year 2009 compared to the previous year.

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During the period January to December 2009, the value of kernel exports was marginally lower by 2.2 per cent to Rs 2,869 crore as against the year ago period.

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The drop in exports was mainly attributed to a sharp rise in domestic consumption.

The exporters had to draw down to meet the domestic demand than export commitments.

The local consumption is pegged at around 1,30,000 tonnes for the year.

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According to Kochi based Cashew Export Promotion Council of India (CEPCI), the unit value realization was up by 2 per cent to Rs 266.87 per kg in the export market during 2009.

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🙂

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In Other major Commodities Updates we have news on the Govt Plans to buy 280 lakh tone of rice for central pool.

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Govt plans to buy 2.8 cr tonne of rice for central pool

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The government hopes to buy 280 lakh tonne of rice for the Central Pool during the ongoing 2009-10 marketing season, more than earlier target of 260 lakh tonne, even as the grain production this year is expected to be lower by 13 million tonne.

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According to the latest official data, total rice purchases by the Food Corporation of India (FCI) and state agencies stand at 178.30 lakh tonne as on Thursday, slightly below 182 lakh tonne procured in the same period of the 2008-09 season.

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The country’s rice production from the current Kharif season is estimated to be lower at 71.45 million tonne, compared with 84.58 million tonne in the last year season.

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🙂

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

India’s Merchandise Exports Rise After 13 Months of Sliding

India’s Merchandise Exports Rise After 13 Months of Sliding

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The economy really got a cheerful start to the New Year.

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After 13 consecutive months of sliding, India’s merchandise exports — which contribute a fifth to GDP — rose 18.2% in November to $13.2 billion.

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Imports remained in the negative zone declining by 2.6% to $22.88 billion.

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This has led to a lower trade gap of $9.69 billion during the month under review against $12.32 billion in the same period a year ago.

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🙂

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For April-November, exports were lower by 22.3% at $104.2 billion from a year-ago period, much lower than the 26% gap seen up to October.

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But as an indicator to a pickup in the econmic activity, contraction in imports during November was much lower than 15% seen in October.

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But industry and analysts alike cautioned against taking the year-on-year growth in exports as a sign of firm revival.

That is because part of the growth is due to the lower base of exports last year during this period.

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Notwithstanding the lower base, it is also a fact that there has been a revival in global demand too.

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Market analysts feel that 2010 could belong to exporters provided government continue with the stimulus, particularly interest subsidy.

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Exporters however feels that it would be difficult to sustain double-digit growth as the November rise is partly due to pre-Christmas orders from abroad.

So despite the positive growth, the country’s overseas shipments in the current fiscal will be much lower than the $185 billion notched last year.

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🙂

Industry expects 44% rise in sugar output next season

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the globe.

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Industry expects 44% rise in sugar output next season

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Industry expects 44% rise in sugar output next season:

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India’s sugar output is expected to rise by 44% to 23 million tonne in the crop year that starts from October 2010, an industry official said, as higher prices are likely to support cane cultivation.

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The output in 2010-11 would be substantially higher than an expected 16 million tonne during 2009-10, Vinay Kumar, managing director of the National Cooperative Federation of Sugar Factories Ltd, told.

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Bumper planting is going on in Uttar Pradesh because of higher prices.

Producers are raising price of cane every week, Kumar said.

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In Other major Commodities Updates we can read that Corn, Soybeans are expected to rise with the rise in crudeoil prices and decline in dollar value.

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Corn, Soybeans May Advance as Crude Oil Rises, Dollar Declines

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Corn, soybeans and wheat were little changed and may climb on speculation that the dollar’s decline and rising crude oil may increase demand for the crops used for food, animal feed and alternative fuel.

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Corn for March delivery fell 0.1 percent to $4.0425 a bushel in electronic trading on the Chicago Board of Trade at 10:51 a.m. in Tokyo after gaining 1.5 percent yesterday, the biggest gain since Dec. 11.

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Before today, the contract fell 3.1 percent this month, the first drop in four months. March-delivery soybeans climbed 0.3 percent to $10.12 a bushel.

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The contract rose 1.1 percent yesterday after the Department of Agriculture said U.S. exporters sold a total of 367,000 metric tons in transactions with Italy, China and buyers that weren’t identified.

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Cumulative U.S. sales from Sept. 1 to Dec. 10 are up 53 percent to 29.554 million tons.

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🙂

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

Food Inflation at 17.5%, Households Pay Price

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Food inflation at 17.5%, households pay price

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Food inflation at 17.5%, households pay price:

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The government on Thursday said that the average wholesale price of food items had increased by a whopping 17.5% in the past one year.

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The figure was 15.6% a week ago.

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RBI to shift to a tighter money policy,which in turn would lead to a rise in interest rates.

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The Centre has blamed this year’s poor monsoon for high food prices.

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It also put the onus on state governments to control prices through better management of food supply through ration shops.

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🙂

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In Other major Commodities Updates, we bring you the news of Govt opting for transgenic tech to boost pulses production and Natural rubber prices going double in a year.

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Govt looks to transgenic tech to boost pulses production:

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The Union government is drawing up a comprehensive programme to introduce transgenic technology to improve the productivity of pulses.

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Bt refers to a gene sourced from a soil bacterium that is transferred to plants and acts as an insecticide.

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The Bt gene activates a toxin that kills a class of pests largely responsible for damaging plants and, thus, denting yields.

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They are genetically low yielding and less responsive to inputs compared with other cereals and oil seeds.

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Not only are they more prone to pests and diseases, hybrids and genetically modified varieties are not available to enhance productivity.

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The agriculture department has said it plans to increase pulse production by 2 mt and acreage by 4 million ha by 2012.

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Natural rubber prices double in a year:

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The natural rubber (NR) prices have almost doubled in a year.

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The benchmark grade RSS-4 variety was quoted at Rs 128 a kg on Thursday compared with Rs 65 a kg on same day last year.

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The rubber market is now poised to break all records despite good production this season.

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The local market follows its global peers resulting in a sharp increase in the prices in the futures trading.

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According to Rubber Board estimates, production in November increased to 103,000 tonnes compared with 95,550 tonnes in the same month last year.

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Production is expected to be at its peak in this month due to the winter season and supply is expected to improve further.

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The board estimates also revealed that the total stock in the country increased to 247,000 tonnes.

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This is due to the sharp increase in imports and a drop in exports during April-November.

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🙂

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here

After 20 Years, India to Import Rice

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

🙂

 

After 20 Years, India to Import Rice

After 20 years, India to import rice:

India, a traditional rice exporter, will import the grain for the first time in 20 years to meet a projected shortfall of the crop hit by drought and floods, government said yesterday.

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The government estimates that there would be a shortfall of over 15 million tonnes in the 2009-10 Kharif (summer) season due to drought and floods in several states.

Thailand’s Foreign Trade department announced that the world’s biggest rice exporter is expected to release part of its huge stock of almost six million tonnes of rice stockpile to India, besides eight other countries, through g-to-g sales programmes.

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In Other major Commodities Updates we can see that the demand-supply gap for natural rubber in the country is set widen.

Demand-supply gap for rubber stretches:

The demand-supply gap for natural rubber in the country is set widen as production is expected to fall and demand set to rise above earlier stimates.

Rubber production for April-October period was 9.4 per cent lower at 4,35,125 tonnes against 4,80,230 tonnes last year.

Consumption grewn three per cent to 5,36,100 tonnes (5,20,375 tonnes).

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The production-consumption mismatch resulted in a sharp rise in imports and a corresponding fall in exports.

Imports increased 133 per cent to 1,26,472 tonnes (54,283 tonnes), while exports plunged 92 per cent to 3,859 tonnes (34,000 tonnes), sources in the Rubber Board said.

The Rubber Board has scaled down the production target for the current fiscal by 2.8 per cent to 8.40 lakh tonnes from the earlier estimates of 8.67 lakh tonnes announced in April.

The forward estimates of production has moved up 6.8 per cent to 9.31 lakh tonnes from the earlier estimate of 8.81 lakh tonnes.

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Note : For More Latest Industry, Stock Market and Economy News and Updates, please Click Here