From Chairman's Desk

July 2017

 

 

Dear friends, 

Exports have been exhibiting positive growth for the last eight months. In continuation with growth indicated by exports since September 2016, exports during May 2017 have shown growth of 8.32 per cent in dollar terms valued at US$ 24014.62 million as compared to US$ 22170.62 million during May,2016. In Rupee terms, during May 2017 exports were valued at Rs. 154713.69 crore as compared to Rs. 148336.31crore during May, 2016, registering a positive growth of 4.30 per cent.

Cumulative value of exports for the period April-May 2017-18 was US $48649.71 million (Rs 313627.48 crore) as against US $42739.47 million (Rs 285056.42 crore) registering a positive growth of 13.83 per cent in Dollar terms and 10.02 per cent in Rupee terms over the same period last year.

Even though the India Metrological Department (IMD) has made forecast of normal rainfall with the El Nino phenomenon being ruled out and heavy showers in some parts of Punjab, Haryana &Uttar Pradesh, the worry is emerging due to lack of sufficient rainfall in Gujarat, Madhya Pradesh and parts of Maharashtra, which has slowed down the pace of kharif sowing (except oilseeds) in central India.For oilseeds, Kharif sowing is still good. As on 23 June 2017, sowing of oilseeds has recorded growth, reaching 11.24 lakh Hectare from 7.23 lakh Hectare during last year.


Prices of various oilseeds (US$) are hovering around the levels as follows: 
 

Sesame Seeds

Basis FOB

Price per MT
(June, 2017)

Natural Whitish 99/1/1

Mundra / JNPT

1000

Natural Whitish 98/2/2 

Mundra / JNPT

980

Hulled autodried Sortex regular 99.95%

Mundra / JNPT

1300

Hulled autodried Sortex Premium 99.97%

Mundra / JNPT

1385

Black 99/1  Sortexed

Mundra

1760

Black Jet Sortexed

Mundra

1930

Ethiopian Whitish Humera

Djibouti  

1080

Burkina Faso Whitish

Tema

1000

Burkina Faso Mixed

Tema

970

Sudanese Whitish Gederaf

Port Sudan

1070

Sudanese Reddish

Port Sudan

900

Nigerian Mixed

Lagos

-----

Nigerian Maidiguri

Tin Can

-------

 

Groundnut

Basis FOB

Price per MT

(May, 2017)

India

50/60 Java

Mundra

1270

60/70 Java

Mundra

1250

80/90  Java

Mundra

1200

40/ 50 Bold

Mundra

1250

50/60 Bold

Mundra

1020

60/70 Bold

Mundra

1000

60/70 Java

Chennai

1260

80/90 Java

Chennai

1200

International  (December, 2016)

China

24/28

Qingdao

1300

28/32

Qingdao

1250

Argentina

Edible Grade 38/42

CNF EU Main Ports

1400

Edible Grade 40/50

CNF EU Main Ports

1380

Edible Grade 50/60

CNF EU Main Ports

1380

USA

Jumbo Runners

CNF EU Main Ports

1550

 

Other Oilseeds / Oils

Basis FOB

Price per MT
(June, 2017)

Safflower Seed 1%

JNPT

520

Mustard seeds Bold 1%

Mundra

680

Mustard seeds small 1%

Mundra

770

Castor Seeds

Mundra

690

Castor Oil FSG

Kandla, in bulk vessel

1420

Source: Trade Estimates


The Council was invited to attend the 2nd meeting of Board of Trade (BOT) chaired by Hon’ble Commerce and Industry Minister Smt. Nirmala Sitharaman. The objective of the meeting was to consider all the issues appropriately for the Mid-Term Review of the Foreign Trade Policy (FTP) and addressing the concerns of the exporters on GST by intensive inter- departmental consultations with Department of Revenue and Ministry of Finance. During the meeting, I had opportunity to highlight some of the issues such as Standard Input Output (SION) Norms for groundnuts and sesame seed, difficulty due to Merger of MDA/MAI Scheme, ease of doing business by allowing IOPEPC to issue Preferential Certificate of Origin, setting up of single window for clearance of reimported cargo of agricultural goods, Providing 5% MEIS for groundnut exports, additional incentives for exports of groundnuts and sesame seed to quality conscious countries such as EU and USA, notifying linseed oil as non- edible oil on the lines of castor oil and permitting its export in bulk and also production of pesticide-free sesame seed meant for exports to Japan. During the meeting we also highlighted heavy rate of 18% GST on Blanched Groundnuts and blocking of funds of exporters in GST.

The indiscriminate use of pesticide is having ill effect not only on the food safety, health and environment in India but also is seriously affecting the prospects of export of agricultural goods from India. Most of the importing countries have set up limits for maximum pesticide residue levels (MRL’s). In many cases, the pesticide residue levels in our agricultural products are way above the permissible limits. Therefore, we are not able to take advantage of the export opportunities. With this backdrop, we have requested Shri. Radha Mohan Singh, Hon’ble Minister of Agriculture and Farmers Welfareto consider drafting a model law for sale of pesticides based on prescription from qualified agricultural expert. It may be noted that the sale of pesticides is illegal in Kerala unless supported by prescriptions from agriculture officers.

The Council will be organizing its Annual Trade Meet/Award Function to be held at Hotel Dreamland, Mahabaleshwar, a resort centrally located at the heart of the township with an entire natural environment and lush greenery, an ideal place for mixing business with leisure, during 10th–12th November 2017.

On this occasion, an attractive Commemorative Souvenir containing informative articles relating to the Oilseeds and Oils Industry will also be unveiled. The Souvenir also serves as a "Ready Reckoner" and a Trade Directory for industry & trade. I urge all our members to give their advertisements to the Council for its publication in the Souvenir, which will reap them rich rewards in promoting their business.

Looking forward to your early registration and valuable support to our Annual Trade Meet.

With Best Wishes and Regards,

Sanjiv Sawla
Chairman

 



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