Posts Tagged ‘global trade’

Turmeric………Golden Spice

Turmeric is a very important spice in India from ancient times. India is the biggest producer with account of nearly 90% of the world’s total production and consume 80%of it. Turmeric, basically a tropical plant of ginger family is the rhizome or underground stem Global Trade and production The main producing countries of turmeric are India, Pakistan, Bangladesh, Sri Lanka,Taiwan, China, Burma (Myanmar) and Indonesia.

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The total yearly consumption of Turmeric all around the globe is approximately 38 Lakh bags to 40 Lakh bags.India is largest exporter (approximately 90%) of Turmeric. Taiwan, Thailand and other Southeast Asian countries are other exporter. United Arab Emirates (UAE) is the major importer accounting for 24.06 % of the total exports followed by United States of America (USA) with 12.93 %. Japan, Sri Lanka, Iran, United Kingdom and Middle Eastern countries are other major Importers of Turmeric.Production of Turmeric in India Generally, India produces almost 7 to 9 lakh ton per annum.

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The important varieties produced in India are: ‘Alleppey Finger’ (Kerala) and ‘Erode and Salem turmeric’ (Tamil Nadu), ‘Rajapore ‘and’ Sangli turmeric’ (Maharashtra)and ‘Nizamabad Bulb'(Andhra Pradesh).As per latest Statistics last year India has 185320 hectares under turmeric cultivation with a total production of 7.01 lakh tonnes. Andhra Pradesh topped both in area and production. Andhra Pradesh contributes nearly 31 per cent of the area under turmeric.Acreage under turmeric in the State has increased to 0.65 lakh hectares as on October 13th this year.

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Tamil Nadu is second largest producer state. In Tamil Nadu, the area under turmeric is expected to increase 9 per cent to 0.43 lakh hectares.India exports about 10% e.g. 40,000 to 50,000 tons of turmeric per annum. Turmeric isthe third-largest spice exported from India. In terms of quantity and value, it accounts about 12% and 5% respectively. USA, Malaysia and china are major importer of Indian turmeric.Turmeric exportswere lower in theApril-August 2010 quarter with a slip of 13%in volume to 22,500 tonnes compared to 25,500 tonnes in same period of last year.

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Prices seasonality

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Turmeric prices will be hovering lower between January and June.This could be mainly attributed to supply pressure due to new crop arrivals. From June onwards prices will start moving up as the market approaches lean season. Prices peak during October and December month of every year. As per seasonal trend,words of caution may enter into turmeric prices, as the trade may remain in a broader range with some bulk buying & festive season demand. Generally, the new crop hits the market during February-March. But this year it is expected to arrive a little early. Farmers will bring the crop early due to high returns earned last year. Therefore, increased arrivals at spot market will put pressure on the prices next year.

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Turmeric update

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•Turmeric production in 2010-11 is expected to improve by 43-45 per cent to 65-70lakh bags compared with 48 lakh bags in 2009-10.

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•Turmeric production in Andhra Pradesh in 2010/11 is expected to jump by 40 percent to 368,000 tonnes compared to 263,000 tonnes, the state horticulture department data showed.

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•Farmers considerably increased the area under the spice as prices were remunerative

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•The total stocks of turmeric are currently at 11 lakh bags against 7 lakh bags reported last in the same period.

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•The price of turmeric soared to an all time high of `15,500 a quintal in the Erode market.

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China May Become World Largest Economy by 2030 : Report

China May Pip USA to Become World largest Economy by 2030

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As per the latest report by Deutsche Bank, the economic and financial status of emerging market economies such as India and China will continue to do well in the future and the recent downturn will help accelerate the trend.

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Report also suggests that the (BRIC) economies” increasing size will be making itself increasingly felt in the world markets, ranging from trade and investment to commodity markets.

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Meanwhile, the BRIC economies of Brazil, Russia, India and China are likely to achieve significant growth in future.

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Meanwhile, BRIC nations are already ranked among the top 10 on a PPP (Purchasing Power Parity) basis.

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The impressive economic growth rates and greater participation in global trade and financial flows by the BRIC economies are re-shaping the global economic and financial architecture of these economies.

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It is expected that with the constant present growth of the BRIC economies, political, economic and financial realities  of the world is going to change to the extent that China will replace the US as the World’’s largest economy by 2030.

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All the four big BRIC economies carry at least one investment grade rating, currently, at the same time.

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Moreover, China’’s and Russia’’s international status has been enhanced due to their substantial holdings of government controlled foreign assets.

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China May Pip USA to Become World largest Economy by 2030 : Report

China May Pip USA to Become World largest Economy by 2030

As per the latest report by Deutsche Bank, the economic and financial status of emerging market economies such as India and China will continue to do well in the future and the recent downturn will help accelerate the trend.

.

Report also suggests that the (BRIC) economies” increasing size will be making itself increasingly felt in the world markets, ranging from trade and investment to commodity markets.

.

Meanwhile, the BRIC economies of Brazil, Russia, India and China are likely to achieve significant growth in future.

.

Meanwhile, BRIC nations are already ranked among the top 10 on a PPP (Purchasing Power Parity) basis.

.

The impressive economic growth rates and greater participation in global trade and financial flows by the BRIC economies are re-shaping the global economic and financial architecture of these economies.

.

It is expected that with the constant present growth of the BRIC economies, political, economic and financial realities  of the world is going to change to the extent that China will replace the US as the World”s largest economy by 2030.

.

All the four big BRIC economies carry at least one investment grade rating, currently, at the same time.

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Moreover, China”s and Russia”s international status has been enhanced due to their substantial holdings of government controlled foreign assets.

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World Trade to Slip by 11%; More Trouble for Exporters :(

World trade down

The International trade in 2009 is estimated to decline by 11 per cent in real terms and by more than 20 per cent in current dollars (terms), United Nations Conference on Trade and Development (UNCTAD) report said on Monday.

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This seems to a bad news for the Indian exporters due to the worsening of the global merchandise outlook.

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There was a fall in demand from major developed countries like US and European Union due to the global recession.

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The exports of India stood in the negative zone for the tenth month in a row since October 2008.

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The exports during April-July period of this year, dropped by over 31 per cent.

However, earlier, the World Trade Organisation had estimated the global trade to be slipping by nine per cent in 2009.

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World trade slowed down in 2007 and has been shrinking at a fast pace since November 2008, in both volume as well as value terms.

The trade volume decelerated first in the United States and other developed countries, the report said.

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On the top of this, the report also stated that as the crisis is global, the reliance on exports offers no easy way out, since trade is expected to fell by about 11 per cent in real terms and any expansion of new trade requires a recovery of consumption and investment somewhere in the world.

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